Nebraska Economics Challenge

Structure and Rules

General Structure

• Team Divisions
  • There shall be two divisions: David Ricardo and Adam Smith.
  • The David Ricardo division includes teams of students enrolled in one-semester (or less) general economics courses or courses which include introductory economic concepts (social studies, business, personal finance, etc.). The course must be taught by a secondary teacher.
  • The Adam Smith division includes teams of students enrolled in Advanced Placement (AP Micro, AP Macro, or AP Micro and Macro), International Baccalaureate (pre-IB and IB), honors, two-semester, or any other advanced courses in economics (including courses taught by a secondary teacher where students earn college credit). The course must be taught by a secondary teacher.
  • Any team containing one or more students enrolled in a course listed in A.1.c. must play in the Adam Smith division.
  • Teams shall only compete against other teams in their own division.
• Team Composition
  • Teams shall be comprised of four (4) members at the regional and national levels.
  • Competing with only three (3) members, if necessary, is possible and permissible. Competing with five (5) members is permissible at the state (Nebraska) level only.
  • All members of a team must be from the same public, private, or home-based school.
  • A school which qualifies for regional and/or national competition may reconstitute the members of its team prior to the competition. Students must, however, meet the the general student eligibility conditions in A.3., as well as, the eligibility conditions for the division in which the school qualified (see A.1.).
• Student Eligibility
  • Students must be enrolled for credit in a qualifying high school course (see A.1.b and A.1.c.) at some time during the 2004-2005 academic year.
  • Students who have taken or are taking economics or economics-related courses for college credit from a post-secondary instructor are not eligible to compete.
  • Students who have taken more than one semester of economics or an economics-related course at any time must compete in the Adam Smith division. Students who are in their second semester of any economics or economics-related course must compete in the Adam Smith division.
  • Home-schooled students must compete in the Adam Smith division.
• Rules Committee
  • There shall be a rules committee comprised of each of the four regional coordinators, a representative from the National Council on Economic Education (NCEE), and one state Council representative appointed by NCEE.
  • The rules committee shall only be responsible for rules compliance at the regional and national level competitions.
  • Questions and grievances should be sent to the chair of the rules committee.
  • All decisions of the rules committee are final.

Contest Format

• There shall be three initial rounds of competition (Rounds I-III).
  • First tie-breaker: team score in Round III, second tie-breaker: total team score in Rounds I and II counting the scores of all four team members (not just the top three), final tie-breaker: quiz-bowl competition tie-breaker (see B.7.b.).
  • In the first two rounds each member competes individually and the team score in each round is the sum of the top three individual scores.
  • In the third round members compete as a team and submit one answer sheet.
  • Each division shall have its own set of tests for these rounds.
• Scoring in Rounds I-III is based on the following system: +10 points for each correct response, -5 points for each incorrect response, and 0 points for no response.
• The score on the Round III test will be multiplied by three so that this round is weighted equally with each of the first two rounds (Rounds I and II).
• The content covered in Rounds I through III is as follows: Round I: Microeconomics, Round II: Macroeconomics, Round III: International Economics and Current Events.
• The two highest scoring teams in each division after Rounds I-III advance to Round IV.
  • First tie-breaker: team score in Round III, second tie-breaker: total team score in Rounds I and II counting the scores of all four team members (not just the top three), final tie-breaker: quiz-bowl competition tie-breaker (see B.7.b.).
• Round IV has a quiz-bowl format covering all topics in economics.
  • One student on each team is designated as the spokesperson for that team. Only responses from the designated spokesperson are considered official.
  • One point is awarded for each question answered correctly by a team.
  • Team members may buzz in at any time a question is being read, however, should they buzz in before the entire question has been read, they will have to answer based solely on the information they have heard up to that point.
  • Once a team member has buzzed in, the team has 15 seconds to consult and have a response given by its spokesperson.
  • If an incorrect response is given, the other team will have the opportunity to hear the entire question and then have 15 seconds to respond.
• Round IV is over as soon as one team leads by more points than there are questions remaining.
  • A maximum of 30 questions will be asked.
  • In the event of a tie after 30 questions, the first team to correctly answer a tie- breaking question will be declared the winner.
• Use of Support Materials
  • The use of books, notes, calculators or other support materials is not allowed during the competition.
  • Students will be allowed a pencil and a piece of scratch paper in all rounds.

Past Results

2005 Results

Teams	Macro	Micro	International	Overall
David Ricardo, (Rounds 1-3) * quiz bowl qualifier
Elkhorn	360	350	315	1025*
Lincoln Northeast	175	375	165	715*
Aurora	175	290	0	450
Waverly Team 1	160	205	60	425
Waverly Team 2	130	175	90	395
Norris	105	185	60	350

Quiz Bowl Results (Round 4)

David Ricardo

Elkhorn vs. Lincoln Northeast

Elkhorn - State Champion

Lincoln Northeast - State Runner Up

Teams	Macro	Micro	International	Overall
Adam Smith, (Rounds 1-3) * quiz bowl qualifier
Omaha Central Team 1	330	310	285	925*
Norris	270	300	285	855*
Lincoln Northeast	260	220	225	705
Aurora	195	180	270	645
Waverly	220	150	150	520
Omaha Central Team 2	195	150	75	420
Omaha Central Team 3	60	55	90	205

Quiz Bowl Results (Round 4)

Adam Smith

Omaha Central Team 1 vs. Norris

Norris – State Champion

Omaha Central Team 1 – State Runner Up

Team Members:

Adam Smith Division:

State Champion – Norris High School: Andrew Keralis, Joel Keralis, Jon Herms, Eric Price

Teacher: Sid Conrad, 402-791-5301

State Runner Up - Omaha Central High School Team 1: Adam Cornish, Eve Mayberger, Cati Peterson, Cecily Zdan

Teacher: Vicki Reed, 402-557-3339

Other Participating Teams:

Aurora High School: Barrett Hahn, Natalie Olson, Jenni Lehmer

Teacher: Lois Hixson, 402-694-6968

Lincoln Northeast High: Kim Weber, Mackenzie Johnson, Lindsey Tomes, Rachel Leitt, MarLeigha Mazuch

Teacher: Carol Mathias, 402-436-1303

Omaha Central High School Team 2: Joe Delich, Naomi Rennard, Matt McGuire

Teacher: Vicki Reed, 402-557-3339

Omaha Central High School Team 3: Lara Zott, Natalie Zadan, Tyler Magnuson

Teacher: Vicki Reed, 402-557-3339

Waverly High School: Mitch Andrews, Derek Busch, Anthony Fulton, Bryce Smith

Teacher: Bret Harpster, 402-786-2765

David Ricardo Division:

State Champion – Elkhorn High School: Genny Lozier, Lauren Medici, Catherine Medici

Teacher: Mary Kaye Eggers, 402-289-4239

State Runner Up - Lincoln Northeast High School: Tim Lehl, Caressa Salee, Leigh Fleming, Maria Moreno, Toni Weixelman

Teacher: Carol Mathas, 402-436-1303

Other Participating Teams:

Aurora High School: Shea Henderson, Emily Moyer, Gina Anderson

Teacher: Lois Hixson, 402-694-6968

Norris High School: Caleb Sueverkruepp, Cole Marolf, Jeremiah Knepper, Andrea Wiggins

Teacher: Sid Conrad, 402-791-5301

Waverly High School Team 1: Nate Mertens, Alicia Fulton, Elizabeth Porath, Vladimir Gorbun

Teacher: Bret Harpster, 402-786-2765

Waverly High School Team 2: Brooke Haas, Brittany Stall, Sam Asher, Caitlyn Pleas

Teacher: Bret Harpster, 402-786-2765

2004 Results

Lincoln, Nebraska. On April 17, 2004, students from all over southeast Nebraska came to the UNL campus to compete in this year's Nebraska Economics Challenge. This event tested teams of high school students on their knowledge of our economy. These students are currently taking an economics course in their respective high schools. Participating high schools included Aurora High School, Lincoln Northeast, Norris High School, Omaha Central, and Waverly High School.

Students, divided into two divisions, competed in 4 rounds. The first 3 rounds consisted of an assessment of their knowledge of topics related to macroeconomics (the study of our economy as a whole), microeconomics (the study of the economic behavior of individuals, businesses and industries) and international economics. They individually answered multiple-choice questions and a team score was comprised of the top 3 individual scores.

Following the first three rounds, the highest two team scores in each division advanced to the final round where they orally answer questions using a quiz-bowl format.

The results of the two divisions are as follows: In the "Adam Smith" division, the team from Waverly High School was crowned as the State Champion, while the Omaha Central team was the State Runner-Up. In the "David Ricardo" Division, the State Champion was the team from Norris High School and the team from Aurora High School earned the title of State Runner-Up. The State Champion teams will advance to the regional competition and receive an all-expense-paid trip to Minneapolis on April 24-25, 2004. The winning teams from the Regional Economics Challenge competition will receive individual savings bonds and an all-expense-paid trip to the National Economics Challenge to be held in New York City on May 22-24, 2004 where they will compete for the national title and more prizes.

The event is sponsored by the Nebraska Council on Economic Education, a non-profit organization dedicated to improving the economic literacy of Nebraska's students. This goal is achieved primarily through economic education programs, courses and workshops for educators across the state. The Federal Reserve Bank of Omaha-Kansas City Branch and the Greater Omaha Chamber of Commerce co-sponsored the event. The Nebraska Economics Challenge will again be offered to all Nebraska economics teachers and their students next year.

Nebraska Economics Challenge Results April 17, 2004

Adam Smith Division, (Rounds 1-3):

Teams	Macro	Micro	International	Overall
Lincoln Northeast	75	160	150	385
Omaha Central Team 1	35	115	120	270
Omaha Central Team 2	330	245	225	800*
Waverly High School	190	125	300	490*

* quiz bowl qualifier

Quix Bowl Results (Round 4)

Adam Smith
Omaha Central Team 2 vs. Waverly
Waverly - State Champion
Omaha Central- State Runner Up

David Ricardo Division, (Rounds 1-3):

Teams	Macro	Micro	International	Overall
Aurora High School	355	235	360	950*
Norris Team 1	280	225	390	895*
Norris Team 2	190	145	390	725
Waverly High School	120	160	270	550

* quiz bowl qualifier

Quix Bowl Results (Round 4)

Aurora vs Norris Team 1

Norris - State Champion

Aurora - State Runner Up

Other Participating Schools, their teachers and students:

Adam Smith Division:

State Champion - Waverly High School: Jordan Hofker, Ramsey Young, Anthony Fulton, Andrew Fulton

Teacher: Bret Harpster, 402-786-2765

State Runner Up - Omaha Central High School: Adam Cornish, Eve Mayberger, Caitlin Monaghan, Cecily Zdan

Teacher: Vicki Deniston-Reed, 402-557-3339

Other Participating Teams:

Lincoln Northeast High School: Lindsey Tomes, Cuong Duong, Caitlyn Potter

Teacher: Carol Mathias, 402-436-1303

Omaha Central: Shay Hampton, Chris Peterson, Dena Rennard

Teacher: Vicki Deniston-Reed, 402-557-3339

David Ricardo Division:

State Champion - Norris High School: Jonah Knepper, Andrew Keralis, Shane Lowe, Jared Wiggins

Teacher: Sid Conrad, 402-791-5301

State Runner Up - Aurora High School: Joe Troester, Tim Van Housen, John Thomas, Ashley MacCarthy

Teacher: Dave Long, 402-694-6968

Other Participating Teams:

Norris High School: Kyle Lococo, Shane Lowe, Andrea Wiggins

Teacher: Sid Conrad, 402-791-5301

Waverly High School: Elizabeth Porath, Alicia Fulton, Jenni Thompson, Ryan Ebke, Mitch Lemprecht

Teacher: Bret Harpster, 402-786-2765

2003 Results

Saturday, April 19 from 10am -2pm
UNL Campus, College of Business Administration

Lincoln, Nebraska. On April 19, 2003, students from all over southeast Nebraska came to the UNL campus to compete in this year's Nebraska Economics Challenge. This event tested teams of high school students on their knowledge of our economy. These students are currently taking an economics course in their respective high schools. Participating high schools included Ashland-Greenwood High School, Heartland Community Schools (Henderson), Lincoln Southeast, Omaha Central, and Waverly High School.

Students, divided into two divisions, competed in 4 rounds. The first 3 rounds consisted of an assessment of their knowledge of topics related to macroeconomics (the study of our economy as a whole), microeconomics (the study of the economic behavior of individuals, businesses and industries) and international economics. They individually answered multiple-choice questions and a team score was comprised of the top 3 individual scores.

Following the first three rounds, the highest two team scores in each division advanced to the final round where they orally answer questions using a quiz-bowl format.

The results of the two divisions are as follows: In the "Adam Smith" division, the team from Heartland Community was crowned as the State Champion for the second year in a row, while the Omaha Central team was the State Runner-Up. In the "David Ricardo" Division, the State Champion was the team from Omaha Central and the team from Ashland-Greenwood High School earned the title of State Runner-Up. The State Champion teams will advance to the regional competition and receive an all-expense-paid trip to Minneapolis on April 27, 2003. The winning teams from the Regional Economics Challenge competition will receive individual savings bonds and an all-expense-paid trip to the National Economics Challenge to be held in New York City on May 17-19, 2003 where they will compete for the national title and more prizes.

The event is sponsored by the Nebraska Council on Economic Education, a non-profit organization dedicated to improving the economic literacy of Nebraska's students. This goal is achieved primarily through economic education programs, courses and workshops for educators across the state. The Federal Reserve Bank of Omaha-Kansas City Branch co-sponsored the event. The Nebraska Economics Challenge will again be offered to all Nebraska economics teachers and their students next year.

Nebraska Economics Challenge Results

Adam Smith Division, State Champion Team:

Heartland Community School, 402-723-4431

Teacher: Ken Schultz

Team Members: Tom Crosby, Adam Eck, Nicky Hoffman , Janene Goertzen and Nick Sowl

Adam Smith Division, State Runner-Up Team:

Omaha Central High School, 402-557-3339

Teacher: Victoria Deniston-Reed

Team Members: Melissa Hepburn, Caitlin Monaghan, Jessi Reiss, and Carolyn Schaeffer

David Ricardo Division, State Champion Team:

Omaha Central High School, 402-557-3339

Teacher: Victoria Deniston-Reed

Team Members: Jeff Downs, Ryan Flemmer, Eve Mayberger, Cati Peterson, and Cecily Zdan

David Ricardo Division, State Runner-Up Team:

Ashland-Greenwood High School

Teacher: Hugh Stoddard

Team Members: Alex McCoy, Elizabeth Eager, Alyssa Haschenburger, Greg Timblin, and Sarah Newsham

Other Participating Schools, their teachers and students:

Lincoln Southeast High School, Tom Focht, teacher, 402-436-1304

Team Members: Thomas Evnen, Tobias Pace, Trevor Heidinger and Derek Zimmerman

Waverly High School, Bret Harpster, teacher, 402-786-2765

David Ricardo Division Team Members: Anthony Fulton, Dan Leatherman, Melissa Long, Tara Nordbrock, and Kyla Ronhovde

Adam Smith Division Team Members: Tyler Andrews, Chad Drake, Ramsey Young, Damon Hummel

Nebraska Economic Challenge 2003 Final Results

Adam Smith Division

Teams	Macro	Micro	International	Overall	Ratings
Waverly	150	240	150	540	4th
Central	280	200	405	885	2nd
Southeast	275	225	375	875	3rd
Heartland	360	355	405	1120	1st

David Ricardo Division

Teams	Macro	Micro	International	Overall	Ratings
Waverly	100	120	135	355	3rd
Central	140	260	345	745	2nd
Ashland-Greenwood	275	195	285	755	1st

2002 Results & Photos

On April 20, 2002, students from across the state came to the UNL campus to compete in this year's Nebraska Economics Challenge. This event tested teams of 60 high school students on their knowledge of our economy. These students are currently taking an economics course in their respective high schools. Participating high schools included Arlington Public, Aurora High School, Grand Island Senior High, Heartland Community Schools (Henderson), Lincoln Southeast, Norris District 160, Omaha Central, Omaha North, Seward and Waverly.

Students, divided into two divisions, competed in 4 rounds. The first 3 rounds consisted of an assessment of their knowledge of topics related to macroeconomics (the study of our economy as a whole), microeconomics (the study of the economic behavior of individuals, businesses and industries) and international economics. They individually answered multiple-choice questions and a team score was comprised of the top 3 individual scores.

Following the first three rounds, the highest two team scores in each division advanced to the final round where they orally answer questions using a quiz-bowl format.

The results of the two divisions are as follows: In the "Adam Smith" division, the team from Heartland Community School was crowned as the State Champion while the Omaha North team was the State Runner-Up. In the "David Ricardo" Division, the State Champion was the team from Omaha Central and the team from Aurora High School earned the title of State Runner-Up. The State Champion teams will advance to the regional competition and receive an all-expense-paid trip to Minneapolis on April 28, 2002. The winning teams from the Regional Economics Challenge competition will receive individual savings bonds and an all-expense-paid trip to the National Economics Challenge to be held in New York City on May 18-21, 2002 where they will compete for the national title and more prizes.

The event is sponsored by the Nebraska Council on Economic Education, a non-profit organization dedicated to improving the economic literacy of Nebraska's students. This goal is achieved primarily through economic education programs, courses and workshops for educators across the state. The Federal Reserve Bank of Omaha-Kansas City Branch co-sponsored the event. The Nebraska Economics Challenge will again be offered to all Nebraska economics teachers and their students next year.

Nebraska Economics Challenge Results

Adam Smith Division, State Champion Team:

Heartland Community School, 402-723-4431

Teacher: Ken Schultz

Team Members: Tom Crosby, Adam Eck, Nicky Hoffman, Jordan Klute, and Nick Sowl

Adam Smith Division, State Runner-Up Team:

Omaha North High School, 402-557-3400

Teacher: Alan Fanning

Team Members: Alicia Gilmore, Paula Madgett, Sarah Porter, Brendan Stack, and Jessica Swanson

David Ricardo Division, State Champion Team:

Omaha Central High School, 402-557-3339

Teacher: Victoria Deniston-Reed

Team Members: Sloan Dawson, Quentin Lueninghoener, Ryan Melton, Carolyn Schaeffer, and Mike Zhang

David Ricardo Division, State Runner-Up Team:

Aurora Public School, 402-694-2573

Teacher: Dave Long

Team Members: Karla Farrand, Chelsea Majerus, Elizabeth Obermeier, and Ryan Robertshaw

Other Participating Schools, their teachers and students:

Arlington Public Schools, 402-478-4176

Teacher: Shawna Koger

Team Memebers: Sarah Koley, Jeremy Rector, Kyle Buss, and Lonny Sund

Grand Island Senior High

Teacher: Dr. Joe Watkins

Team Memebers: Jon Luchsinger, Amy Moss, Caleb Muhs, and Devon Smedra

Heartland Community School, 402-723-4431

Teacher: Ken Schultz

Team Memebers: Claire Coleman, Doug Franz, Gavin Geis, Janene Goertzen, and Tim Kliewer

Lincon Southeast High School, 402-436-1304

Teacher: Tom Focht

Team Memebers: Hany Khattab, Mark Nelson, and Kristin Walstad

Norris High School, 402-791-5301

Had 5 team members participating

Seward High School, 402-643-2988

Teacher: Dave Neeley

Team Memebers: Drew Anthony, Jacob Hill, Pat Resinger, Ryan Stepp, and Kirk Schlueter

Waverly High School, 402-786-2765

Teacher: Toby Boss

Team Memebers: Tom Jordison, Jamie Nielsen, Carl Peterson, and Jason Volkmer

Nebraska Economic Challenge 2002 Final Results

Adam Smith Division

Macro	Micro	International	Overall
Heartland 305	North 350	Heartland 365	Heartland 980
North 270	Grand Island 325	North 315	North 935
Southeast 185	Southeast 320	Grand Island 270	Grand Island 775
Grand Island 180	Heartland 315	Southeast 165	Southeast 670
Waverly 140	Waverly 110	Waverly 90	Waverly 340

David Ricardo Division

Macro	Micro	International	Overall
Aurora 310	Central 295	Aurora 375	Aurora 965
central 255	Heartland 290	Seward 360	Central 880
Seward 195	Seward 280	Central 330	Seward 835
Heartland 190	Aurora 280	Heartland 285	Heartland 765
Arlington 170	Arlington 200	Norris 270	Arlington 640
Norris 165	Norris 135	Arlington 270	Norris 570

2001 Results

On April 21, 2001, students from across the state came to the UNL campus to compete in the first ever Nebraska Economics Challenge. This event tested teams of 45 juniors and seniors on their knowledge of our economy. These students are currently taking an economics course in their respective high schools. Participating high schools include Lincoln Southeast, Maywood, Norris District 160, Omaha North, Seward and Waverly.

Students competed in 4 rounds. The first 3 rounds consisted of an assessment of their knowledge of topics related to macroeconomics (the study of our economy as a whole), microeconomics (the study of the economic behavior of individuals, businesses and industries) and international economics. They individually answered multiple-choice questions and a team score was comprised of the top 3 individual scores.

Following the first three rounds, the highest two team scores advanced to the final round where they orally answered questions using a quiz-bowl format.

One team was crowned the Nebraska Economics Challenge State Champion, another the State Runner-Up. The State Champion will advance to the regional competition and receive an all-expense-paid trip to Minneapolis on May 7, 2001. The winning team from the Regional Economics Challenge competition will receive individual savings bonds and an all-expense-paid trip to the National Economics Challenge to be held in New York City on May 21 where they will compete for the national title and more prizes.

The event was sponsored by the Nebraska Council on Economic Education, a non-profit organization dedicated to improving the economic literacy of Nebraska's students. This goal is achieved primarily through economic education programs, courses and workshops for educators across the state. The Nebraska Economics Challenge will again be offered to all Nebraska economics teachers and their students next year.

Nebraska Economics Challenge Results

State Champion Team:

Waverly High School, 402-786-2765

Teacher: Toby Boss

Team Members: Wes McClure, Tim Steinen, Jered Hofker, Zach Leatherman

State Runner-Up Team:

Seward High School

Teacher Dave Neeley, 402-643-2988

Team Members: Jake Hill, Katie Pfieffer, Pat Riesinger, Tara Tonniges, Jake Wiegmann

All Participating Schools, their teachers and students:

Waverly High School, Toby Boss, teacher, 402-786-2765

Team 1: Wes McClure, Tim Steinen, Jered Hofker, Zach Leatherman

Team 2: Zac Borg, Vanessa Retzlaff, Estelle Agena, Christina McIntyre

Lincoln Southeast High School, Tom Focht, teacher, 402-436-1304

Team 1: Keith Wysocki, Mark Nelson, David Varvel, Justin VanWart

Omaha North High School, Alan Fanning, teacher, 402-557-3400

Team 1: Jessica Swanon, Alicia Gilmore, Paula Madgett, Brendan Stack

Team 2: Jamie Gilmore, Kevin Flores, Chris Warta, Chris Holley

Seward High School, Dave Neeley, teacher, 402-643-2988

Jake Hill, Katie Pfieffer, Pat Riesinger, Tara Tonniges, Jake Wiegmann

Norris District 160, Sid Conrad, teacher, 402-791-5301

Eric Niemeyer, Mitch Cody, and Austin Jeffries

Maywood High School, Stan Wudtke, teacher, 308-362-4223

James Thornburg, Brian Prochaska, Jacob Bassett, Jason Carr, and Nick Werkmeister

Adam Smith Division

Micro	Macro	International	Overall
Waverly 1 300	Waverly 1 355	Omaha North 2 405	Waverly 1 880
Omaha North 1 290	Maywood 260	Norris 360	Seward and Omaha North 1 760
Seward 275	Waverly 2 235	Omaha North 1 315	Omaha North 2 720
Lincoln SE 1 240	Seward 215	Waverly 2 285	Waverly 2 705
Waverly 2 185	Omaha North 1 155	Seward 270	Lincoln SE 1 615
Maywood and Omaha North 2 165	Omaha North 2 and Lincoln SE 1 150	Lincoln SE and Waverly 1 225	Norris and Maywood 560
Lincoln SE 2 160	Norris 75	Maywood and Lincoln SE 2 135	Lincoln SE 2 445
Norris 125