Arkansas Economics Challenge
Tuesday, March 14, 2023
11:00 am – 4:30 pm
University of Central Arkansas, College of Business
The Arkansas Center for Research in Economics and Economics Arkansas will be co-hosting an in-person state-level competition for Arkansas high school students this April 2023! Teachers can register teams of 3-4 students who will compete against other teams from around the state. Winning teams will receive cash prizes up to $500, scholarships, and the chance to move on to the later stages of the National Economics Challenge.
The competition will consist of three components:
A testing portion: During the Challenge, students will have one hour to complete an economics exam focused on key concepts from micro, macro, and global economics. Students test individually and their scores are added together for a team total. Prizes are awarded to highest scoring individuals & teams!
Team Presentations: During the Challenge, students will have one hour to create 7-10 minute presentations that they will present to a team of judges. The theme for this year's event is The National Debt. Students are presented with a scenario where they have control over U.S. discretionary spending. During their presentation, students will explain how they would allocate tax dollars and the trade-offs of their decisions. This activity is inspired by and uses resources from the Teaching Free Enterprise lesson plan on the National Debt.
A writing submission: For this event, students submit responses to an essay prompt in advance of the competition. The prompt for 2023 is:
In 500-750 words, explain the key differences between mandatory and discretionary government spending. If you were a member of Congress, what would you need to consider when discussing changes to national spending? What steps would you take to make a change in government spending? Which spending categories would you consider your highest priorities? What trade-offs must be considered when making changes?
Essay Deadline: March 3, 2023
Register your teams here.
Questions? Contact Terra Aquia at firstname.lastname@example.org.
Congratulations to our 2022 winners!
|Econ Challenge||Prize Amount|
|1st Place Team Presentations||$500 (split among team members)|
|2nd Place Team Presentations||$250 (split among team members)|
|1st Place Writing Submission||$100|
|2nd Place Writing Submission||$50|
|Library Award (awarded to top performing school's library to expand their econ options)||$100|
|Student OTY (highest scoring student overall)||$100|
|Teacher OTY (selected by event organizers - teacher whose students show the most success)||$100|