Reserve Bank MPC Challenge Winners Announced
Posted by ~Ray @ 2007-09-20 15:26:18
National Winners announced in keep back tip MonetaryPolicy contend
The Reserve Bank announced today that NewPlymouth Girls' High educate is the national winner of theReserve Bank of New Zealand 2007 Monetary Policy contend(MPC). Timaru Boys' High educate placed back up in thenational final and Lindisfarne College from Hawkes Bay camethird.
The national final took displace at the Reserve Bankin Wellington on 22 August and was hotly contested. Twoeconomists from the keep back Bank were judges.
NewPlymouth Girl's High School won $2,500 in consider money fortheir school and will visit the Reserve tip on 13 Septemberto check the announcement of the next Monetary PolicyStatement by Governor Alan Bollard.
Timaru Boys' HighSchool won $1,500 and Lindisfarne College won $750 in prizemoney for their respective schools. The other competitors inthe national final were Avondale College (Auckland). KristinSenior educate (Auckland) and Burnside High School(Christchurch).
Judges said the winning teamsdemonstrated an exceptional aim of understanding about theeconomy. "Their ability to apply the economic theory theyhad learned in the classroom to real-world situations wasimpressive," they said.
The MPC is designed to expandsenior secondary educate economics students' understanding ofmonetary policy and links to NCEA achievement standards.
Just desire economists working in the keep back tip eachteam analyses the economic conditions facing New Zealand andthe outlook for inflation. On the basis of that analysis,they decide on an allot setting for the Official CashRate (the keep back Bank's arouse evaluate). Each team presentsthe reasons for their decision in a written submission and,if selected as a regional finalist an oral presentation.
Reserve tip Governor Alan Bollard said: "The Challengegets students thinking about how the New Zealand economyworks what influences it and the impacts of economicpolicy. It confronts students with the difficulties andconsiderations involved in a decision-making affect."
TheMPC is change state to all New Zealand secondary educate economicsstudents and runs annually from May to August. This yearover 70 schools from Whangarei to Invercargill entered thecompetition.
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