EconChallenge


The Nebraska Economics challenge is a unique opportunity for middle and high school students to compete with others across the state for cash prizes while demonstrating their knowledge of economics!

Online Challenge: April 5 – April 26

If you are new to the Nebraska Economics Challenge, welcome! You will need to select “Teacher Registration” from the menu and create your teacher profile. Once your profile is created, you will be able to log in and begin creating your teams.

If you are a returning teacher, welcome back! Your profile information is saved from your previous participation, and you can log in to begin creating your teams for this year’s challenge!

There are three divisions in the Economics Challenge:

·  Adam Smith: For returning competitors, AP, IB, and honors students.

·  David Ricardo: For first-time competitors with no more than one course in economics.

·  Milton Friedman: For middle school students, grades 6-8.

Teams of 3-4 students will have 35 minutes to complete a 30-question online exam covering a broad variety of economic principles. For more information on the economic education standards included in the Economics Challenge, explore the following resources:

· Council for Economic Education: Voluntary National Content Standards in Economics

· EconEdLink

· Federal Reserve: Economic Education

Students earn 10 points for every correct response and 0 points for each incorrect answer. Every question must be answered to move on, and students are not able to go back to previous questions.

There will be a cash prize for the top three teams in each division:
•1st Place: $30 per student
•2nd Place: $20 per student
•3rd Place: $10 per student

The top 10 performing teams in each high school division from the online challenge will advance to the Nebraska State Finals on May 7!

Nebraska State Finals: May 7

The Nebraska State Finals will be held virtually this year, with the state’s top 10 teams from each high school division convening to compete in preliminary rounds of live online testing and concluding with an economic case competition:

· Individual Tests: Teams will complete two 15-question exams online. The exams will cover the principles of microeconomics and macroeconomics, respectively, and each exam will have a 15-minute time limit with a break between tests. Students will take these exams individually. Results will be ranked by team score as the sum of the top 3 student scores, with the lowest score dropped.

· Team Test: Students will then complete a third exam as a team, covering the topic of international economics. This exam will also consist of 15 questions and be subject to a 15-minute time limit.

The top two teams from each division following the online testing portion will then compete in a live case study where teams will be given a fictional economic scenario. Teams will be given 30 minutes to develop their economic recommendations. Immediately following their preparation time, teams will have 10 minutes to present their recommendations to a panel of judges, as well as 5 - 7 minutes to field questions from the event judges.

The Nebraska State Championship teams in each division will be announced following the conclusion of the case study round.

Every participant at the Nebraska State Finals will receive a limited-edition t-shirt, and the top performing teams in each high school division will receive trophies and a cash prize for each team member:

Nebraska State Championship:

Adam Smith:
1st: Trophy • $250 per student
2nd: Trophy • $100 per student

David Ricardo:
1st: Trophy • $250 per student
2nd: Trophy • $100 per student

The Nebraska State Championship team from each division will then have the honor to represent our state in the National Economics Challenge Semi Finals on May 17 – May 20. For more information on the National Economics Challenge, click the link below.