Economics

Houston and New York City High Schools Take Home Top Honors in Annual National Economics Challenge

Council for Economic Education names Champions of Nationwide High School Competition

NEW YORK, NY May 20, 2014 – The Council for Economic Education is excited to announce the winners of the 14th Annual National Economics Challenge, a rigorous academic competition putting students’ economic skills and knowledge to the ultimate test. Besting over 10,500 students from 40 states, Bellaire High School from Houston, Texas took home the top prize for the Adam Smith Division, (for advanced placement, international baccalaureate and honors students) and Hunter College High School from New York City was named the winner of the David Ricardo Division (for students who have only taken a single-semester economics course) in the two-day competition, hosted by the Council for Economic Education and sponsored by State Farm.

Here are just a couple of the tough questions they answered correctly to take home the win—see below for answers.

1.  Quantitative easing places what type of pressure on the international value of the dollar?

2.  Of the components of GDP, which is the most important for long-run economic growth?*

NECstock Houston and New York City High Schools Take Home Top Honors in Annual National Economics Challenge

The National Economics Challenge applies the excitement of an athletic competition to academic excellence, providing students with the opportunity to apply their economics knowledge and work in teams. The finals were held May 18-19 in New York City, and included written exams and a critical thinking round, culminating in a “quiz-bowl” round held at WNET Studios at Lincoln Center and co-hosted by CNBC’s Steve Liesman. This year’s challenge also included special guest video questions from Janet Yellen, the Chair of the Board of Governors of the Federal Reserve.

The winning teams departed immediately after for the honor of ringing the The Closing Bell at The New York Stock Exchange, a once-in-a-lifetime opportunity and tradition dating back to the early 1900’s.

“We’re so thrilled to play host to this fantastic event for the 14th year in a row,” said Nan J. Morrison, CEO and President of CEE. “This has been an incredible way to engage students in the study of economics, and make it fun and rewarding for them. Congratulations Bellaire High School and Hunter College High School on your achievements, and for setting the bar high for next year’s competition!”

Here’s the complete list of winners:

Adam Smith Division (AP, IB and honors students)

First Place- Bellaire High School/Bellaire, Texas

Second Place- Carmel High School/Carmel, Indiana

Third Place- Iolani School/Honolulu, Hawaii

Fourth Place- Grissom High School/Huntsville, Alabama

David Ricardo Division (Single semester general economics students)

First Place- Hunter College High School/New York, New York

Second Place- Little Falls Community High School/Little Falls, Minnesota

Third Place- Carmel High School/Carmel, Indiana

Fourth Place- Souderton Area High School/Souderton, Pennsylvania

For more information visit www.councilforeconed.org/econchallenge.

To view the National Economics Challenge on-demand, visit www.facebook.com/councilforeconed.

*Answers: 1. To Depreciate; 2. Investment

POSTED: May 22, 2014 | BY: Morgan Hoey | TAGS: , , , , , , , , , ,

CEE In the News: National Economics Challenge Recap

The day of the National Economic Challenge was a busy one for CEE and challenge participants.

On the morning of the National Economics Challenge some of the finalists were interviewed by CNBC’s Steve Liesman on Squawk Box.
The winning teams had the opportunity to ring the closing bell at the New York Stock Exchange. Steve Liesman interviewed students again after the bell ringing.
On CNBC’s Nightly Business Report, Steve Liseman put together a round-up segment including actual competition footage (24:00 mark).
NY1′s Money Matters report with Tara Lynn Wagner on Thursday night will have additional coverage of the National Economics Challenge.
NEC NYSE Closing CEE In the News: National Economics Challenge Recap

POSTED: May 21, 2014 | BY: Morgan Hoey | TAGS: , ,

Meet the 2014 National Economics Challenge Winners!

The 14th Annual National Economics Challenge culminated with an exciting quiz bowl Monday, May 19. This year’s Challenge saw a record number of participants, over 10,500 students from 40 states, with four elite teams per division competing in the final round. The quiz bowl ended with a nail biting finish- each team won by just one point.  After such a thrilling competition CEE gives special recognition to the first place winners for each division.

Hunter College High School of New York, New York earned first place in the David Ricardo Division and Bellaire High School of Bellaire, Texas took first place in the Adam Smith Division. The two winning teams were invited to ring the closing bell at the New York Stock Exchange immediately following the competition.

Screen Shot 2014 05 20 at 11.22.19 AM Meet the 2014 National Economics Challenge Winners!

Screen Shot 2014 05 20 at 12.07.17 PM Meet the 2014 National Economics Challenge Winners!

CEE would like to thank all teams for their hard work and participation. Final challenge rankings are as follows:

DAVID RICARDO DIVISION (Single semester general economics students)

  1. Hunter College High School/New York, New York
  2. Little Falls Community High School/Little Falls, Minnesota
  3. Carmel High School/Carmel, Indiana
  4. Souderton Area High School/Souderton, Pennsylvania

ADAM SMITH DIVISION(AP, IB and honors students)

  1. Bellaire High School/Bellaire, Texas
  2. Carmel High School/Carmel, Indiana
  3. Iolani School/Honolulu, Hawaii
  4. Grissom High School/Huntsville, Alabama

The 2014 National Economics Challenge was sponsored by State Farm.

Video of the quiz bowl is available on-demand on our Facebook page.

Voting for finalist videos remains open through Friday, May 23 until 5:00pm ET.  Visit our Facebook page to vote.

POSTED: May 20, 2014 | BY: Morgan Hoey | TAGS: , ,

CEE In The News: Teens Are Stressed Over Money

US News & World Report references a recent study by H&R Block that reveals adults aren’t the only ones worrying about money. The survey of 13- to 17-year-olds shows that teens are worried about future student loan debt, gaining employment and maintain the standard of living from their childhood homes.

The article cites CEE’s 2014 Survey of the States which found that most public school students do not take an economics or personal finance course. Our game, Gen i Revolution was highlighted as a tool to be used to bridge the gap in financial literacy.

POSTED: April 1, 2014 | BY: Morgan Hoey | TAGS: , , , ,

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