March 31, 2008

As economics continues to dominate national news headlines, 100 12th-graders and their teachers from schools across the state will be at the University of Alabama at Birmingham (UAB) to test their knowledge of market structure, consumer behavior and more. The 2008 Alabama Economics Challenge will be held Tuesday, April 1 from 8 a.m. to 1:30 p.m. at the Great Hall at Hill University Center, 1400 University Blvd. The event is presented by the Alabama Council on Economic Education (ACEE) and hosted by the UAB Center for Economic Education (CEE) and UAB School of Business. The event is sponsored by the National Council on Economic Education (NCEE) and co-sponsored by the Alabama Department of Education with support from Merrill Lynch.

More than 20 teams will answer questions on current events and concepts such as unemployment policies, government deficits and foreign exchange markets just to name few.  There are two divisions: the Adam Smith division for advanced placement and international baccalaureate students, and the David Ricardo division for students in regular or applied economics courses or blocks. The first three rounds are written tests. Four teams will advance to the final Lightning Round, a quiz bowl format with buzzers and lights. After the awards, talk to students and teachers about why they study and teach economics.

Last year, Alabama's winning team finished third in the nation. At stake is more than $3,000 in prizes. The top Alabama team in each division advances to the regional competition online. Regional winners advance to the finals, May 12-19 in New York City.

Sarah Culver, Ph.D., director of the UAB CEE started the challenge in 2004 as a way of promoting economic education for K-12 students. "Better knowledge of market-based economics produces better consumers, savers, workers and better voters," Culver says.