VCU hosts 2003 VCEE Economics Challenge

By Malorie Burkett

Virginia Commonwealth University recently hosted the 2003 National Council on Economics Education/Goldman Sachs Economics Challenge at the Stuart C. Siegel Center, a competition sponsored by the Virginia Council on Economic Education (VCEE) that focuses on encouraging and improving economics lessons at the high school level.

"The student competition brings a lot of excitement and enthusiasm to the classroom and encourages more interest in economics," said Suzanne Gallagher, director for VCU's Center for Economic Education.

Twenty-six teams representing 20 high schools in Virginia participated in the event, comprised of written micro, macro and international tests followed by two live final rounds in which the top-scoring finalist teams from the written rounds compete in a live economics question and answer session with judges.

Judges for the final round of competition were Dr. Dennis O'Toole, associate professor of economics, VCU School of Business and first president of VCEE; Ray Owens, research department, Richmond Federal Reserve Bank; Marsha Shuler, senior vice president of Richmond Federal Reserve Bank and VCU alumnus and Howard Spinner, director of the State Corporation Commission's Division of Economics and Finance.

At the start of the final round, Dr. Michael Sesnowitz, dean of VCU's School of Business welcomed the students to VCU. He praised them for their study of economics and assured them that the economic way of thinking would be valuable to them throughout their lives, whatever their career path. He then turned the competition over to Dr. Bill Bosher, dean of VCU's School of Education, who was the question master during the final rounds.

The final rounds that took place on stage included the David Ricardo Championship round, for students with one semester or less of economics education. Schools competing in this round were Chantilly High School from Chantilly, Va., and Piedmont Regional Governor's School of Danville, Va. Competitors in the Adam Smith Division Championship round, for students with a full year of economics education, or those enrolled in advanced placement economics classes, included St. Catherine's School and Collegiate School both of Richmond, Va.

Chantilly and Collegiate, this year's winning teams, will travel to Boston to represent Virginia during the regional championship competition on April 30 at the Federal Reserve Bank of Boston.

Founded in 1969 at VCU's School of Business by former dean J. Curtis Hall, the Virginia Council on Economic Education is an independent, nonprofit educational organization. Their mission is to help students understand basic economic principles and develop the decision-making skills needed to be informed citizens, productive employees, and wise consumers.