Euro Challenge: Competition Overview

1. Euro Challenge: Competition Overview Presentation by Nigel Nagarajan Student Orientation – 2009 Euro Challenge Miami-Florida European Union Center of Excellence January 22nd, 2009

2. In a nutshell

3. The Euro Challenge in a nutshell • Promotes transatlantic (EU-US) relations • Exposes students to global economics (“economics light”) • Website with forum, educational videos, learning resources • Judges recruited from Federal Reserve banks, EU Embassies, IMF, investment banks, financial journalists • Chance to compete against teams from different parts of the US; Semi-finalists travel to NYC; Top teams to DC • Partner organizations: Moody’s Foundation, Federal Reserve Banks (NY, Boston, Chicago, Atlanta-Miami), EU Centers of Excellence at US universities, financial companies

4. The competition in a nutshell • One team per school • Up to 5 students per team (not including alternates) • Students must be in 9-10th grade • Students generally do not have prior exposure to economics (Mainly global or European studies, world history, etc.) • 15-minute presentation + 10-minute Q&A • Format: your choice (PowerPoint) • 2009 competition will feature 70 to 80 schools nationally: • {NY, NJ, CT}, {NC} • {FL}, {MA}, {PA}, {IL, IN}, {MI}

5. Three-part Challenge Question

6. Euro Challenge 2009 Part I Describe the current economic situation in the “euro area” (the economic region consisting of the 16 EU Member States that have adopted the euro). Focus on: • GDP growth • Inflation • Unemployment

7. Euro Challenge 2009 Part II Select one economic-related challenge confronting the euro area as a whole (from list), and pick one of the 16 euro area Member States to illustrate that challenge.

8. Ten Challenges: Choose One • Slow growth • High unemployment • Inflation • Adapting to technological change (raising productivity) • Globalization (including immigration) • Aging (including health care) • Living with a single monetary policy • Sustaining the social system (welfare state) • Coping with a housing market slowdown • High government deficits and debt

9. Euro Challenge 2009 Part III Recommend a policy or policies for addressing the challenge you identified in the country you selected. (Be sure to include in your recommendation a discussion of how having a single currency may or may not affect the policy choices for addressing the challenge.)

10. Scoring, Prizes, Timeline

11. Scoring • Knowledge about the EU, euro, and related economic concepts • Responses to judges’ questions • Quality of presentation • Depth of research and analysis • Teamwork and cooperation

12. Prizes/ Awards • Cash prizes for top 5 winning teams (from $250 to $1,250* per student) • Trip to DC for top 2 winning teams • Recognition and awards reception in NYC for all semi-final teams • Certificates for all participating students *Actual prize amounts may vary

13. Tentative Time Line for Florida Teams Student Orientation – January 22, 2009 • EU Center, Florida International University Regional Preliminary Round – March-April, 2009 • EU Center, Florida International University Semi-finals AM / Finals PM – April 29, 2009 (followed by reception at Moody’s for all semi-finalists) • Federal Reserve Bank of New York

14. Resources

15. Primary Resources for You Our website: www.euro-challenge.org • Open FORUM for teachers and students to engage in dialogue, ask questions, share research • Teachers have access to separate teachers-only forum • Website contains educational videos & presentations, and links to useful articles & other learning resources Please register today at: www.euro-challenge.org/forum