Euro Challenge Logo
An exciting educational competition and opportunity for high school students to learn about the European Union and the euro.
About Euro Challenge

What is the Euro Challenge?

The Euro Challenge is an exciting educational opportunity for high school students to learn about the European Union (EU) and the euro. Student teams of three to five students are asked to make presentations answering specific questions about the European economy and the single currency, the euro. They are also asked to pick one member country of the "euro area" (the 17 EU member countries that have adopted the euro so far), to examine an economic problem at the country level, and to identify policies for responding to that problem.

In 2013, its eighth year, the Euro Challenge will continue to expand nationally, with more than 100 teams from various regions in the United States expected to compete for monetary awards generously provided by The Moody's Foundation.

The Euro Challenge is a program launched by the Delegation of the European Union to the United States in partnership with The Moody's Foundation and with the Federal Reserve Bank of New York serving as program advisor. The program is supported by Credit Suisse, the University of North Carolina, Florida International University, the University of Pittsburgh, the University of Illinois, the University of Texas at Austin, Rutgers University, George Washington University, Indiana University, the University of Wisconsin, the World Affairs Council of Pittsburgh, the DC World Affairs Council, the Federal Reserve Bank of Cleveland (Pittsburgh Branch), the Federal Reserve Bank of Boston, and the Federal Reserve Bank of Chicago and Detroit Branch.

2012 Winners
The 2012 winners, Ridgefield (CT) High School, accept their prize check from Frances G. Laserson, President, The Moody’s Foundation, and Ambassador João Vale de Almeida, Head of Delegation, EU Delegation to the United States

"I enjoyed the experience of being immersed in the economic conditions of Europe and learning more about the European economy and culure."
–Ridgefield High School 2012 team member

The Competition Task

The Euro Challenge competition for high school students tests their knowledge and understanding of the European economy and the euro, the currency shared by many of the 27 countries of the European Union (EU). For the 2012 Euro Challenge competition, which took place in the spring of 2012, student teams were asked to make 15-minute presentations in which they were required to:

  1. Describe the current economic situation in the euro area (the economic region consisting of the 17 EU member countries who have adopted the euro).
  2. Select one economic-related challenge confronting the euro area as a whole (see list below), and pick one of the 17 member countries of the euro area to illustrate that challenge.
  3. Recommend a policy or policies for addressing the challenge you identified in the country you selected. Be sure to include in your recommendation a discussion of how having a single currency may or may not affect the policy choices for addressing the challenge.

Teams can choose one of the following economic-related challenges:

  • Slow growth
  • High unemployment
  • Inflation
  • Adapting to technological change (raising productivity)
  • Globalization (including immigration)
  • Aging (including health care)
  • Living with a single monetary policy
  • Sustaining the social system (welfare state)
  • Coping with a housing market slowdown
  • High government deficits and debt

Presentations are followed by 10 minutes of questioning by a panel of judges who are educators or experts in European economic affairs.

Schools selected to participate in the Euro Challenge will be provided with professional development, information resources, and coaching to provide guidance and assistance.


Prizes

In 2012, the top five winning teams received monetary awards generously provided by The Moody's Foundation. The awards were $1,250 for each member of the first-place team, $1,000 each for second place, $750 each for third place, $500 each for fourth place, and $250 each for fifth place. The Moody's Foundation also sponsored a trip to Washington, D.C. for the two top teams of 2012. We anticipate similar prize levels for 2013.

Past first prize winners are:
2012 - Ridgefield High School (CT)
2011 - International Academy Central (MI)
2010 - Rutgers Preparatory School (NJ)
2009 - Montclair High School (NJ)
2008 - Rumson-Fair Haven High School (NJ)
2007 - Montclair High School (NJ)
2006 - George W. Hewlett High School (NY)


Euro Challenge Goals

  • Increase students' knowledge and understanding of the European Union and the euro
  • Promote an understanding of economic challenges facing European Union member states
  • Support local learning standards related to global studies and economics
  • Foster economic and financial literacy and understanding of economic policy issues
  • Develop communication, critical thinking and cooperative skills.

Eligibility Requirements

  • High schools located in regions coordinated by partner institutions (i.e., participating Federal Reserve banks or European Union Centers of Excellence at several US universities). Emphasis is put on the participation of public high schools.
  • The participation of one team, consisting of three to five 9th and 10th grade students in global studies, economics, world history/geography or European studies classes.
  • One faculty advisor for the school team. Advisors will be invited to attend a teacher orientation seminar, and are required to attend the Euro Challenge competition rounds with their student team.

(Eligibility requirements are subject to change.)


Partners

The Euro Challenge is a program of the Delegation of the European Union in Washington, D.C. The Delegation is pleased to support this innovative academic competition to encourage American students to learn more about the European Union and its single currency, the Euro (€).

PRINCE funding is approved by the European Parliament (made up of elected representatives of the 27 EU Member States).

While most of the PRINCE resources are allocated for activities and information campaigns within the European Union (with much of the focus currently on the member states that recently joined the EU and are planning to adopting the Euro in the coming years), some funding has also been made available to European Union delegations in non EU countries. It is these funds that are used by the Delegation to run the Euro Challenge.

EU Delegation to the US logo

The Euro Challenge is a program of the Delegation of the European Union in Washington, D.C. The Delegation is pleased to support this innovative academic competition to encourage American students to learn more about the European Union and its single currency, the Euro (€).

The EU's origins are found in post-World War II efforts to prevent European conflict by binding the continent's economies closely together. The six-member European Coal and Steel Community of the 1950s has grown into today's 27-strong EU — with a population of over 450 million, an economy slightly larger than that of the United States, and, since 1999, a common currency for 17 of its member states. Within the EU's "internal market," trade and workers flow freely, while the Schengen Agreement allows borderless travel within many EU countries.

The European Union and the United States are the most important of partners. We provide global leadership on issues ranging from trade, financial and regulatory matters to human rights, security, and defense. We are by far each other's most important trading partners and have the world's largest economic relationship. The EU and the U.S. share important values such as support for democratic institutions and human rights.

The Delegation of the European Union's website contains information about the European Union and its relationship with the United States. It also features resources for secondary teachers.

Moody's Foundation Logo

The Moody's Foundation is proud to support the Euro Challenge by providing scholarships to the winning teams. A primary goal of The Moody's Foundation is to support programs that address the improvement of education in mathematics for grades K through 12 and to increase the basic understanding of economics and the financial markets for students in secondary schools, colleges and universities. Since its inception in 2001, The Moody's Foundation has provided over $17 million in funding for educational programs including scholarships for the winning teams of the College Fed Challenge, co-sponsored with the Federal Reserve Bank of New York, and the Moody's Mega Math Challenge (M3 Challenge), an applied mathematics competition coordinated by the Society of Industrial and Applied Mathematics (SIAM).

The Moody's Foundation is a charitable foundation established by Moody's Corporation (NYSE: MCO), the parent company of Moody's Investors Service, which provides credit ratings and research covering debt instruments and securities and Moody's Analytics, encompassing the growing array of Moody's non-ratings businesses including Moody's KMV, a provider of quantitative credit analysis tools, Moody's Economy.com, which provides economic research and data services, and Moody's Wall Street Analytics, a provider of software for structured finance analytics. The corporation, which reported revenue of $2.3 billion in 2007, employs approximately 3,600 people worldwide and maintains a presence in 29 countries. Further information is available at www.philanthropy.moodys.com.

Credit Suisse Logo

Credit Suisse lends its support to social, charitable and cultural projects and institutions around the world - focusing primarily on the areas in which it operates as a business. The bank's involvement goes beyond financial donations and material contributions; Credit Suisse also encourages its employees to volunteer their services to support philanthropic projects.

As one of the world's leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 45,000 people. Credit Suisse's parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group's registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York.


Participating in Euro Challenge

High schools may register to participate if they are willing to travel to one of the regional hosts for the Euro Challenge competition events. For the 2012 competition, the cities/regions with regional hosts included:

  1. New York Metropolitan Region (New York, New Jersey and Connecticut) –  hosted by Credit Suisse and the Federal Reserve Bank of New York
  2. Miami Region (Florida) –  hosted by the Florida International University
  3. Boston Region (Massachusetts, New Hampshire, Rhode Island) –  hosted by the Federal Reserve Bank of Boston
  4. Midwest Region (Illinois, Indiana, Iowa, Kentucky, Ohio, Wisconsin) –  hosted by the Federal Reserve Bank of Chicago, Indiana University, the University of Illinois at Urbana-Champaign, and the University of Wisconsin-Madison
  5. Raleigh/Durham/Chapel Hill Region (North Carolina, Virginia) –  hosted by the University of North Carolina at Chapel Hill
  6. Pittsburgh Region (Pennsylvania) –  hosted by the University of Pittsburgh
  7. Detroit/Ann Arbor Region (Michigan) –  hosted by the University of Michigan and the Federal Reserve Bank of Chicago, Detroit Branch
  8. Texas (Texas) – hosted by the University of Texas at Austin
  9. Washington, DC (DC, Maryland, Virginia) – hosted by the European Union Delegation to the United States and the DC World Affairs Council 

Register to Participate

You can register online in the registration section. For questions about registration please contact Brian Scios at 212-421-2700 or bscios@wise-ny.org.