Europe and the Financial Crisis: US high school students take on the Euro Challenge
The EU’s New Consultants on the Financial Crisis: High School Students?
Against a backdrop of headlines on the financial troubles of some European countries, students from eight Illinois and Wisconsin high schools will compete in the 2010 Euro Challenge competition on Friday, March 26 at the Federal Reserve Bank of Chicago. Now in its fifth year, this academic contest provides a unique and exciting educational opportunity for students to learn more about the European Union and Europe’s single currency, the euro, as they answer economic and financial questions to showcase their knowledge of everything from ballooning government deficits to rising unemployment. The winning teams will have a shot at going to New York for the finals at the Federal Reserve Bank on April 27.
The Euro Challenge, which fosters a better understanding of the European and transatlantic economies and supports local learning objectives in economics and finance, continues to expand nationally. This year, 76 high school teams from 11 states (Connecticut, Florida, Michigan, New Jersey, New York, North Carolina, Massachusetts, Illinois, Pennsylvania, Wisconsin, and Virginia) will compete.
“We welcome the large number of schools participating in this year’s Euro Challenge competition,” said Angelos Pangratis, Acting Head of the European Union Delegation to the United States. “The Euro Challenge is a tremendous event. The young participants learn a great deal about real economics, and they also get to know about the European Union, America’s biggest economic partner, and why strong relations between Europe and America are so crucial.”
The 9th and 10th grade students spend months studying European economic policy and history with the help of mentors from their schools and resources provided by the Delegation of the European Union to the United States in Washington, D.C. Teams of three to five students are asked to make presentations about the economic situation of a specific European country of the “euro area” (the 16 EU member countries that have adopted the euro so far) and will have to answer questions to showcase their grasp of economic principles.
The winning teams will receive cash prizes 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 Fran Laserson, president of the Moody’s Foundation. “This competition enables the next generation to acquire the skills and knowledge necessary for tackling the pivotal economic issues of our time.”
The Euro Challenge is a program launched and supported by the Delegation of the European Union to the United States in close cooperation with w!se (Working in Support of Education) and with the technical support of the Federal Reserve Bank of New York.
Other partner organizations include:
– The Moody’s Foundation;
– Credit Suisse;
– The Federal Reserve Banks of New York, Chicago, Boston and the Miami Branch of the Federal Reserve Bank of Atlanta;
– European Union Centers of Excellence at Florida International University/University of Miami, the University of North Carolina, University of Michigan, and the University of Pittsburgh;
– The European Union Center at the University of Illinois;
– The European Union Studies Center at the Graduate Center of the City University of New York;
– and Deloitte & Touche.
www.euro-challenge.org
Source: Delegation of the European Union to the United States
