Euro Challenge Competition 2013: U.S. High School Students can help solve the Euro’s Challenges!

U.S. High School Students can help solve the Euro’s Challenges!

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American High School Teams from 18 States Compete in the 2013 Euro Challenge

American high school students are poised to reflect on some of Europe’s main economic problems, as teams from 25 high schools gather at the Federal Reserve Bank of New York on April 12 to compete in the semi-final and final rounds of this year’s Euro Challenge competition.

he Euro Challenge is a unique and exciting educational opportunity for high school students from across the United States to learn about the European Union – the largest economic partner of the U.S. – and the 17 countries that share its single currency, the euro. Participants showcase their specific knowledge of countries in the euro area and make policy recommendations to rein in deficits and debt, reduce unemployment, or solve other challenges confronting these countries.

The Euro Challenge fosters a better understanding of the European economy and transatlantic economic relations, and it supports local learning objectives in economics and finance. The competition continues to expand nationally. This year, more than one hundred high school teams from 17 states plus the District of Columbia participated in the program. Preliminary regional competitions concluded in March, with 25 schools advancing to the finals on April 12.

“I am proud to support a program that encourages young Americans to learn about the challenges confronting the economies of Europe, and what countries that share a common currency are doing to overcome these challenges,” said Ambassador João Vale de Almeida, Head of the European Union Delegation to the United States. “The Euro Challenge is a great learning experience for these students as they go beyond the headlines of economic news to fully understand key economic concepts and the complex realities faced by policymakers. By learning how Europe is dealing with these challenges, the Euro Challenge helps young Americans to have a better understanding of how Europe and America are deeply connected.”

The competition, which has reached thousands of American high-school students over the past seven years, brings the EU to life, better than any text book or website, and it fosters a life-long interest in economics and the important EU-U.S. partnership. It also promotes teacher professional development by deepening insights into the workings of European Union institutions. Jose Melgarejo, teacher at Newark Collegiate Academy, one of this year’s first time participating schools notes: “The entire competition was very worthwhile both for my students and me. The level of economics that they now understand outclasses most of the student population in the school. AND they had a blast!”

The 9th and 10th grade students have spent months researching European economic policy and history with the help of mentors from their schools and resources provided by the EU Delegation. In the competition, teams of three to five students make presentations about the economic situation of the “euro area” (the 17 EU member countries that have adopted the euro so far), and then focus on an economic challenge confronting one member country of the euro. The challenges range from slow growth and high unemployment to aging and globalization. Teams make recommendations on how to solve these challenges and must answer questions from a distinguished panel of judges to showcase their grasp of economic issues and economic policy trade-offs.

The top five winning teams will receive monetary awards generously provided by The Moody’s Foundation, along with a trip to Washington, D.C. for the top two teams.

“Moody’s is proud of its continued support of the Euro Challenge,” said Frances G. Laserson, President of The Moody’s Foundation. “This competition enables the next generation to see the value in acquiring the skills and knowledge necessary to understand global economic issues.”

The Euro Challenge is a program launched and supported by the Delegation of the European Union to the United States. The national coordinator of the competition is w!se (Working in Support of Education). The Federal Reserve Bank of New York serves as program advisor.

Other partner organizations include: Credit Suisse, the University of North Carolina, Florida International University, the University of Pittsburgh, the University of Illinois, Rutgers University, the Federal Reserve Bank of Cleveland (Pittsburgh Branch), the Federal Reserve Bank of Boston, the Federal Reserve Bank of Chicago, the Federal Reserve Bank of Chicago (Detroit Branch), George Washington University, the DC World Affairs Council and the University of Texas at Austin.

Of the 25 teams competing at the Federal Reserve Bank of New York in the semi-final round the morning of April 12, five teams will advance to the final round of the competition held in the afternoon the same day.

The following schools are competing in the semi-final round:

  • Oceanside High School, New York
  • Mt. St. Mary Academy, New Jersey
  • High School for Math, Science & Engineering, New York
  • Bronx High School of Science, New York
  • High Technology High School, New Jersey
  • Ridgefield High School, Connecticut
  • Hunter College High School, New York
  • Montclair High School, New Jersey
  • George W. Hewlett High School, New York
  • Marlboro High School, New Jersey
  • Princeton High School, New Jersey
  • Joel Barlow High School, Connecticut
  • Canton High School, Massachusetts
  • Arlington High School, Massachusetts
  • International Academy Okma, Michigan
  • International Academy Macomb, Michigan
  • Coral Reef, Florida
  • Western High School, Florida
  • Miami Palmetto, Florida
  • School Without Walls, Washington DC
  • North Allegheny Intermediate School, Pennsylvania
  • Rockport-Fulton High School, Texas
  • East Chapel Hill High School, North Carolina
  • Madison East High School, Wisconsin
  • St. Joseph’s High School, Indiana

Among the 25 American High Schools, 3 are from Florida

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Coral Reef Senior High School Miami Palmetto Senior High School Western High School