Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


St Kentigern College Wins Reserve Bank Challenge

24 August 2006

Saint Kentigern College Wins Reserve Bank Economics Challenge

Seventy-two schools, spanning the length of New Zealand from Springbank School in Kerikeri to Invercargill's Southland Girls' High School, entered this year's Reserve Bank Monetary Policy Challenge (MPC). Then teams from 43 schools met the challenge in regional competitions held in Auckland, Hamilton, Wellington, Christchurch and Dunedin.

Today, Auckland based Saint Kentigern College students Neeharika Chowdhary, Lisa Li, Han Chen, Tom Devereux and Jonathan Spence won the National Final of the MPC held at the Reserve Bank in Wellington.

Burnside High School (Christchurch) were placed second Hutt Valley High School (Wellington) were third, and John McGlashan College (Dunedin) and Hillcrest High School, (Hamilton) received distinction awards.

Grant Spencer, Head of Economics and Assistant Governor at the Reserve Bank and the Challenge's head judge, was impressed with the overall standard of the teams and their knowledge of economic concepts.

The MPC is designed to expand Year 11-13 economics students' understanding of monetary policy. Like economists working in the Reserve Bank, the teams analysed the economy and inflation forecasts. On the basis of this analysis they offered a mock-setting of the Reserve Bank's key interest rate, the Official Cash Rate (OCR).

The Challenge encourages the use of inquiry learning techniques and is designed to be an extension of the secondary school level economics curriculum. Grant Spencer commented: "The Challenge gets students thinking about how New Zealand's economy works, what influences it and the impacts of economic policy. It confronts students with the difficulties and considerations involved in a decision-making process."

Each team member that participated in the final received a $50 book voucher and a certificate. Saint Kentigern College received $2,812 in prize money. Second placed Burnside High School received $1,620 and $810 was awarded to Hutt Valley High School for third place.

The winning team has been invited back to the Reserve Bank to attend the September 2006 Monetary Policy Statement release; where they will witness an OCR announcement, first hand.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news