CNBC

2018 National Economics Challenge QuizBowl Finalists

Tomorrow is the 18th Annual National Economics Challenge Finals!

Congratulations and good luck to the USA and China teams who will compete in the QuizBowl for the Championship title:

USA David Ricardo Division:

  • Hunter College High School, New York
  • Monta Vista High School, California

USA Adam Smith Division:

  • Lexington High School, Massachusetts
  • Mount Hebron High School, Maryland

CHINA David Ricardo Division:

  • Shanghai Pinghe School
  • Shenzhen Foreign Language School, Team #3

CHINA Adam Smith Division:

  • WHBC of Wuhan Foreign Language School, Team #1
  • Shanghai High School International Division

Steve Liesman, Senior Economics Reporter for CNBC, will serve as the emcee and Raphael W. Bostic, President and CEO, Federal Reserve Bank of Atlanta will make a video appearance asking the students questions.

Tune in to see the finalists and the competition live. Here’s the line-up starting tomorrow morning:

Watch live to support your team!

~The National Economics Challenge Staff

PS: We will also be live tweeting throughout day. Follow us: @council4econed and the hashtag #EconChallenge.

POSTED: May 21, 2018 | BY: Daniel Thompson | TAGS: , , , , ,

2018 National Economics Challenge Finalists!

You’ve been waiting for this moment!

The results are in and we are pleased to announce the Finalists for the 2018 National Economics Challenge!

ADAM SMITH DIVISION:

  • Carmel High School, IN
  • The Harker School, CA
  • Hunter College High School, NY
  • Iolani School, HI
  • Iowa City West High School, IA
  • Lexington High School, MA
  • Mt. Hebron High School, MD
  • Thomas Jefferson High School, VA

DAVID RICARDO DIVISION:

  • Hunter College High School, NY
  • Iolani School, HI
  • Lexington High School, MA
  • Monta Vista High School, CA
  • Montgomery High School, NJ
  • Mt. Hebron High School, MD
  • Olympia High School, WA
  • Troy High School, MI

These sixteen teams had the highest scores in the semi-final rounds of the Adam Smith and David Ricardo Divisions and will be participating in the Finals in New York City on May 19 – 21. The top two teams from each division will go head-to-head for the title of National Champion. Check out our Facebook page for photos of each team.


You will want to watch this on Monday! Below is the line-up with our media partner, CNBC:

  • CNBC’s Squawk Box will be interviewing the students at 6:30 a.m. ET.
  • CNBC’s Power Lunch will be airing live snippets of the Challenge from 1 p.m. to 3 p.m. ET.
  • The Challenge will also be streamed live in its entirety on CNBC.com starting at 12:50 p.m. ET. Watch here.
Make sure to visit the National Economics Challenge website for more information about the competition.

Congratulations to the finalists and thank you to all the teams who participated this year! Make sure to “follow” us on Twitter and “like” us on Facebook to see what the teams are up to in New York City!

POSTED: May 18, 2018 | BY: Daniel Thompson | TAGS: , , , , , , , ,

Financial Ignorance is Not an Option

BY: RYAN LEUNG, rising senior, Lexington High School and 2016 winner of the National Economics Challenge

If the goal of high school is to prepare students for life after graduation, then most schools in our country are not meeting that standard. While our school system prepares students with the academic skills needed to succeed, there is one glaring flaw: most students graduate with next to no knowledge on managing finances.

Money-management skills are more important than ever to navigate the economic realities of the modern marketplace, yet most states still do not require high schools to offer personal finance classes. In lieu of high school personal finance classes, most teens either learn from their mistakes or look to parents for personal finance lessons. Unfortunately, not all parents are well-equipped to serve as financial models for their children.

To address this growing national problem, a group of students from Lexington, Massachusetts founded Project Finance, an organization to promote financial literacy in high schools. We distributed a survey to all public high schools across the state and found an absence of universally accepted financial literacy standards across the Commonwealth. As such, Project Finance has been pushing for the adoption of financial literacy standards, and in March 2017 successfully requested the State Board of Education to review the Council for Economic Education’s National Standards for Financial Literacy for implementation into the state curriculum. This is only a start; offering a personal finance class in each high school is the necessary next step to prepare our students to become informed consumers, investors and participants in our global economy.

Being financially literate cannot guarantee future success, but the personal and national costs of being financially ignorant are immense. My generation is being academically prepared for life after graduation; it is now time for us to be financially prepared.

 

This op-ed piece was published in the Council for Economic Education’s 2018 Survey of the States.

POSTED: February 15, 2018 | BY: Daniel Thompson | TAGS: , , , , , , , , , , ,

Ohio Government Making Smart Choices

BY: SENATOR LOU TERHAR, Ohio Senate, District 8

The low level of financial literacy in Ohio (and nationwide) exacerbated the effects of the Great Recession. Ohio is ranked fourth worst in financial literacy of the 50 states, has the sixth highest proportion of college graduate student loan debt and ranks 33rd in average per capita defined contribution retirement funds balance, at just $27,000.

Ohio House Bill 391, passed in 2016 in the 131st General Assembly, was an effort to improve financial literacy in Ohio. The bill provided for $318,000 for Smart Ohio, a program supporting curriculum, teacher stipends and student assessments to deliver professional development to Ohio teachers in grades 1-6, created and delivered primarily by the Economics Center for Education and Research of the University of Cincinnati. An initial pilot project, which provided teachers with training in a solid and proven system, resulted in major gains in the financial literacy of children. The General Assembly was so impressed with the program’s results that continued funding for Smart Ohio was approved by both Houses even in very difficult budget negotiations.

In Smart Ohio’s first year, 500 teachers were trained, impacting approximately 12,500 students. By 2021, it will reach 75,000 students at a cost of $8.48 per student. The continued funding will increase the impact on Ohio student financial literacy capabilities, at a lower per student basis, ensuring that as many students as possible can make mature, informed financial choices that will allow them to prosper in a free market. The legislature’s support of this statewide program reflects a belief that the future of our state lies in the economic and financial literacy of our students. We are proud to support our future leaders in their development of good decision-making skills.

This op-ed piece was published in the Council for Economic Education’s 2018 Survey of the States.

POSTED: February 14, 2018 | BY: Daniel Thompson | TAGS: , , , , , , , , , , , , ,

Where Does Your State Stand?

Every two years, the Council for Economic Education (CEE) conducts a comprehensive look into the state of K-12 economic and financial education in the United States, collecting data from all 50 states and the District of Columbia. The biennial Survey of the States serves as an important benchmark for our progress, revealing both how far we’ve come and how far we still have to go. There has been notable progress since the first survey was published in 1998, yet the pace of change has slowed. The 2018 Survey of the States shows that there has been little increase in economic education in recent years and no growth in personal finance education.

Research shows that requirements are the main driver of economics and personal finance being taught in schools. CEE works with our nationwide network of affiliates to both advocate for requirements and assist in their implementation. To support local and state advocacy initiatives, we have developed voluntary standards in economics and personal finance, nationally-normed, curriculum-agnostic assessments in economics and personal finance, and an online advocacy toolkit.

You can help strengthen economic and personal finance education by: 

  • Requesting a course in your school or district
  • Calling for more teacher-training
  • Promoting standards and course requirements at the state level.

Where does your state stand?


This piece was published in the Council for Economic Education’s 2018 Survey of the States.

POSTED: February 12, 2018 | BY: Daniel Thompson | TAGS: , , , , , , , ,

CNBC’s Steve Liesman Covers CEE’s 15th National Economics Challenge

The Council for Economic Education’s 15th National Economics Challenge finals were held in NYC on Monday. Over 10,500 students participated nationwide, with only 32 making it to the finals and only 16 to the final quiz bowl round, hosted by Steve Liesman, CNBC’s senior economics reporter. The final round was covered live on CNBC’s Power Lunch and CNBC’s Nightly Business Report on PBS featured it as well.

CNBC Power Lunch

CNBC Nightly News Report

Please join us in congratulating the winning teams. To learn more about each team check out our Facebook page.

Adam Smith Division:

First Place: Mounds View High School, Arden Hills, Minnesota
Team Members: Abraham Chen, Emily Ruan, Samuel Rush and Jacob Weightman
Coach: Martha Rush

 

Second Place: Carmel High School, Carmel, Indiana

Third Place: Lexington High School, Lexington, Massachusetts

Fourth Place: The Harker School, San Jose, California


David Ricardo Division:

 

First Place: Homestead High School, Cupertino, California
Team Members: Richard Chen, Kazu Kogachi, Steven McDonald and Erik Yang
Coach: Christy Heaton

 

Second Place: Carmel High School, Carmel, Indiana

Third Place: Iolani High School, Honolulu, Hawaii

Fourth Place: Charter School of Delaware, Wilmington Delaware


If you would like students in your local high school to participate, you, a teacher or a principal can contact Rosanna Castillo. They can learn more about the Challenge on our website.

 

POSTED: May 20, 2015 | BY: Annamarie Cerreta | TAGS: , , , , ,

More from the CEE