- What is the Euro Challenge?
- The Competition Task
- Euro Challenge Goals
- Eligibility Requirements
- Participating in the Euro Challenge
- Register to Participate
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 19 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.
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 BNP Paribas, Credit Suisse, 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 Learning Economics and Finance Network, the World Affairs Council of Pittsburgh, the World Affairs Council of Charlotte, the World Affairs Council of Seattle, the DC World Affairs Council, the Federal Reserve Bank of Cleveland (Pittsburgh Branch), the Federal Reserve Bank of Atlanta (Miami Branch) and the Federal Reserve Bank of Chicago and Detroit Branch.
The 2014 Winners, Princeton High School (NJ), with their prize
In 2016, the finals for the Euro Challenge competition will be held in New York City on April 19.
The Preliminary round for the regional competitions will he held on the following dates:
|DC Preliminary Round||
Wednesday, March 16
|Florida Preliminary Round||
Thursday, March 10
|Illinois Preliminary Round||
Monday, March 21
|Massachusetts Preliminary Round||
Friday, March 18
|Michigan Preliminary Round||
Monday, March 14
|North Carolina Preliminary Round||
Thursday, March 17
|Pittsburgh Preliminary Round||
Thursday, March 10
|Texas Preliminary Round||
Wednesday, March 9
|New York Region Preliminary Round||
Monday, March 14
|Washington Preliminary Round||
Wednesday, March 9
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 28 countries of the European Union (EU). For the 2016 Euro Challenge competition, which will take place in the spring of 2016, student teams will be asked to make 15-minute presentations in which they are required to:
- Describe the current economic situation in the euro area (the economic region consisting of the 19 EU member countries who have adopted the euro).
- Select one economic-related challenge confronting the euro area as a whole (see list below), and pick one of the 19 member countries of the euro area to illustrate that challenge.
- 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:
- Promoting Investment and Innovation
- Demographics and an Aging Workforce
- Banking Union and Financial Stability
- Globalization and Migration
- What Role Does Fiscal Policy Play in Promoting Growth?
- Tackling High Unemployment
- Living with a Single Monetary Policy
- How to Overcome Slow Growth?
- Inequality and Social Spending
Depending on which Euro Challenge Region you are a member of, presentations can be made either in person during the preliminary round of the competition or remotely via video conferencing. The video conferencing presentations will be done on the same day as the on-site competition for regions conducting a Hybrid Competition. For regions conducting a Virtual Competition, a competition date will be decided where all video conferencing will take place. In all rounds, following their presentations, teams must participate in a 10 minute question and answer session conducted by a panel of judges who are educators or experts in European economic affairs.
Schools that participate in the Euro Challenge will be provided with professional development, information resources, and coaching to provide guidance and assistance.
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.
- High schools from all over the Unites States are eligible to participate in the Euro Challenge. Schools located in regions coordinated by partner institutions (i.e., participating Federal Reserve banks or European Union Centers of Excellence at several US universities) will begin the competition in the region in which they are located, while schools from outside our historic regions will be assigned a coordinator. 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 online or in-person orientations, and are required to attend the Euro Challenge competition rounds with their student team.
(Eligibility requirements are subject to change.)
In 2015, 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 2015. We anticipate similar prize levels for 2016.
Past first prize winners are:
2015 – Princeton High School (NJ)
2014 – Princeton High School (NJ)
2013 – Ridgefield High School (CT)
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)
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 28 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.
The EU is represented in the United States by the Washington, DC Delegation of the European Union, which works in close coordination with the Embassies and Consulates of the 28 EU Member States.
The EU Delegation is a full-fledged diplomatic mission and represents the European Union in dealings with the U.S. government in areas that are part of the EU’s remit. It presents and explains EU policy to the U.S. Administration and to Congress, analyzes and reports on the political, social, and economic situation in the U.S., and
acts as a liaison with other international institutions in Washington, DC.
Through its engagement with political actors, the media, academia, business circles, and civil society, the EU Delegation also raises awareness of EU issues and concerns, and promotes the importance of the EU-U.S.relationship among the broader American public.
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 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.
Every business has responsibilities in respect to the major challenges posed by sustainable development. BNP Paribas’ business activity puts the Group at the very heart of the system. As a result, the Bank has launched a corporate social responsibility program to adapt to the changes in the environment and society, while underpinning organizational performance and stability.
For over a decade, BNP Paribas has taken actions in four main areas:
* Economic responsibility: financing the economy in an ethical manner.
* Employer responsibility: pursuing a committed and fair human resources policy.
* Civic responsibility: combating exclusion, promoting education and culture.
* Environmental responsibility: tackling climate change.
As a leading global bank, BNP Paribas takes pride in growing its corporate social responsibility efforts throughout its global locations. In North America, the Bank has developed a strong focus on: business ethics, philanthropy, financial literacy, and environmental awareness. In particular, to deepen its economic and environmental responsibilities, the Bank has developed rigorous financing and investment policies in sectors that raise specific environmental and social concerns.
Furthermore, in 2013, BNP Paribas North America committed $1 million to Superstorm Sandy relief efforts and provided employee volunteer opportunities in New York City and surrounding areas. The Bank has also entered partnerships with schools and organizations to offer financial education and grants to students. Additionally, the Human Rights Campaign has recognized the Bank as one of the “Best Place to Work for LGBT Equality”. As the world continues to evolve, BNP Paribas North America is dedicated to continuing its corporate social responsibility efforts and confirming its leading position as a Responsible Bank.
Participating in Euro Challenge
High schools from all over the country may register to participate in the Euro Challenge. For 2016, many of our regional hosts will be allow submissions to be made remotely via video conference in the preliminary round, but will also still be hosting on-site competitions for teams that wish to compete in person. We will provide an update of how each regional competition is being organized shortly. For the 2016 competition, the cities/regions with regional hosts included:
- New York Metropolitan Region (New York, New Jersey and Connecticut) – hosted by UFT and the Federal Reserve Bank of New York
- Miami Region (Florida) – hosted by the Florida International University
- Boston Region (Massachusetts, New Hampshire, Rhode Island) – hosted by the Learning Economics and Finance (LEAF) Network
- Midwest Region (Illinois, Indiana, Iowa, Kentucky, Ohio, Wisconsin) – hosted by the Federal Reserve Bank of Chicago, Indiana University, and the University of Illinois at Urbana-Champaign
- Raleigh/Durham/Chapel Hill Region (North Carolina, Virginia) – hosted by the World Affairs Council of Charlotte
- Pittsburgh Region (Pennsylvania) – hosted by the University of Pittsburgh
- Seattle Region (Washington) – hosted by the World Affairs Council of Seattle
- Detroit/Ann Arbor Region (Michigan) – hosted by the University of Michigan and the Federal Reserve Bank of Chicago, Detroit Branch
- Texas (Texas) – hosted by the University of Texas at Austin
- Washington, DC (DC, Maryland, Virginia) – hosted by the European Union Delegation to the United States and the DC World Affairs Council
Register to Participate
Registration is now open for the 2017 Euro Challenge. Please log in to continue.