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?*
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