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On April 20, 2002, students from across the state came to the UNL campus to compete in this year's Nebraska Economics Challenge. This event tested teams of 60 high school students on their knowledge of our economy. These students are currently taking an economics course in their respective high schools. Participating high schools included Arlington Public, Aurora High School, Grand Island Senior High, Heartland Community Schools (Henderson), Lincoln Southeast, Norris District 160, Omaha Central, Omaha North, Seward and Waverly.
Students, divided into two divisions, competed in 4 rounds. The first 3 rounds consisted of an assessment of their knowledge of topics related to macroeconomics (the study of our economy as a whole), microeconomics (the study of the economic behavior of individuals, businesses and industries) and international economics. They individually answered multiple-choice questions and a team score was comprised of the top 3 individual scores.
Following the first three rounds, the highest two team scores in each division advanced to the final round where they orally answer questions using a quiz-bowl format.
The results of the two divisions are as follows: In the "Adam Smith" division, the team from Heartland Community School was crowned as the State Champion while the Omaha North team was the State Runner-Up. In the "David Ricardo" Division, the State Champion was the team from Omaha Central and the team from Aurora High School earned the title of State Runner-Up. The State Champion teams will advance to the regional competition and receive an all-expense-paid trip to Minneapolis on April 28, 2002. The winning teams from the Regional Economics Challenge competition will receive individual savings bonds and an all-expense-paid trip to the National Economics Challenge to be held in New York City on May 18-21, 2002 where they will compete for the national title and more prizes.
The event is sponsored by the Nebraska Council on Economic Education, a non-profit organization dedicated to improving the economic literacy of Nebraska's students. This goal is achieved primarily through economic education programs, courses and workshops for educators across the state. The Federal Reserve Bank of Omaha-Kansas City Branch co-sponsored the event. The Nebraska Economics Challenge will again be offered to all Nebraska economics teachers and their students next year.
