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
Econ Challenge 1
Econ Challenge 2
Econ Challenge Awards
Econ Challenge Postings

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