Students Compete in Economics Challenge at the State Capitol

Austin, TX, April 13, 2011 – The Texas Council on Economic Education (TCEE) in partnership with State Farm® has announced the student teams that are competing at the Texas Capitol in the statewide Economics Challenge. Students from schools across Texas will be competing on Thursday, April 14, 2011, in E2.002, the Legislative Conference Center in the Extension building of the State Capitol.

The competition centers around how well teams of four perform on exams that test knowledge of micro, macro and international economics. Students in Advanced Placement and International Baccalaureate classes as well as home school students compete in the Adam Smith division. Other economics and career/technical students compete in the David Ricardo division. After taking three written tests, the top two teams in each division will “face off” in a Quiz Bowl with the Texas winners moving on to regional and then national competitions.

State Farm believes that improving economic education in schools will positively impact communities by preparing young people to be financially educated and college ready. More than 9 in 10 adults and students believe it’s important to have a good understanding of economics. However, only half of high school students say they have been taught economics or personal finance concepts. “It’s vital that we educate our youth on the financial pitfalls that can derail their future, often before they’ve even had a chance to get started in the work world,” said Stacie Gaynor, State Farm spokesperson. “We are proud to support this valuable program.”

According to Laura Ewing, President of TCEE, “Competition sparks an added interest in studying and preparing for the three economics tests. The result is increased learning and an opportunity for students to develop skills of collaboration. TCEE gratefully acknowledges the amount of work involved for teachers in preparing students for the competition as well as the commitment by the student. It is also through State Farm’s generous support and partnership of this program that so much can be offered for the benefit of the students participating.”

Texas schools have a history of doing well at nationals with economics teacher Michael Clark of Bellaire High School in Houston ISD having a team place second nationally in the New York City Smith competition last year. And Kevin Magavern of Plano High School had a team win third place nationally in the Ricardo national division.

Students who have made it to the State competition will have the opportunity to meet with their Texas legislators during a special luncheon and have a photograph taken together on the Capitol Steps.

For more information and to see the fall and spring teams that will be competing in Austin on April 14, please visit www.economicstexas.org.