New York, NY (PRWEB) April 30, 2013
Do you know the difference between Keynesian and Monetarist theories? Or how industries under monopolistic competition resemble those in pure competition? Few adults could answer these questions correctly—but the eight high school teams nailed these and other brainbusters to win an all-expenses paid trip to New York to compete in the final rounds of the 13th Annual National Economics Challenge, hosted by the Council for Economic Education (CEE) and sponsored by State Farm. Having outpaced over 10,000 other students, the top four scoring teams in two divisions—the Adam Smith Division (for advanced placement, international baccalaureate and honors students) and David Ricardo Division (for students who have only taken a single semester economics course)—will vie for the championship Saturday, May 18th – Sunday, May 19th.
In the National Economics Challenge, CEE applies the excitement of an athletic competition to academic excellence and encourages students to apply their economics knowledge and work in teams. Competitions are held at the State, National Semi-Final, and National Final levels in the two divisions. In each competition, teams of students answer rigorous questions on microeconomics, macroeconomics, international economics, and current events. At the National Finals, students complete rounds of testing, work in teams during a critical thinking round to solve a case problem, and participate in a quick-paced oral quiz-bowl in order to compete for the title of National Champions.
The final round of the National Economics Challenge employs a “quiz-bowl” format as student teams are called upon to answer tough questions on complex economic concepts and theories involving micro- and macroeconomics, international economics, and current events. Each team must have previously won its state and been one of the top four highest scoring teams at the National Semi-Finals competitions in order to advance to the championship series.
“We’re so excited to watch these teams to put their knowledge to the test as they compete against the top economics students in the nation,” said Nan J. Morrison, CEO and President of CEE. “Their grasp of complex economic concepts is impressive at any age, but particularly so at the high school level. Regardless of how they place, all of the competitors are winners.”
Watch the final round of the competition live on Sunday May 19th at 3 PM at WNET Studios at Lincoln Center in Manhattan by tuning into our Facebook page or at http://www.ustream.tv/channel/council-for-economic-education.
The teams competing are:
DAVID RICARDO DIVISION
Carmel High School / Carmel, Indiana
Lexington High School / Lexington, Massachusetts
Little Falls Community High School / Little Falls, Minnesota
Olympia High School / Olympia, Washington
ADAM SMITH DIVISION
Choate Rosemary Hall / Wallingford, Connecticut
Iolani School / Honolulu, Hawaii
Mounds View High School / Arden Hills, Minnesota
Richard Montgomery High School / Rockville, Maryland
About the Council for Economic Education
The Council for Economic Education is the leading organization in the United States that focuses on the economic and financial education of students from kindergarten through high school. CEE trains educators to teach young people the fourth “R”—a real-world understanding of economics and personal finance—so that they will be able to make informed and responsible choices throughout their lives as consumers, savers, investors, citizens and participants in the global economy. Each year CEE’s programs reach more than 55,000 teachers and approximately 5 million students.
For more information visit http://www.councilforeconed.org/econchallenge.