1.  There will be 20-minute Rounds with 15 questions, 5 option multiple-choice tests in each round.

                    Round I: Microeconomics (Individual student test)

Round II: Macroeconomics (Individual student test)

                    Round III: International Applications and current events (Team consensus)

                    Round IV: General Economic Knowledge (Buzzer round)

3. Note the nature of the scoring system; 10 points for a correct response, minus 5 points for an incorrect response, and 0 points for unanswered questions. The purpose is to penalize pure guessing. However, if possible answers can be reduces to two choices, then educated guessing is probably worth while.

4. Round III International and Current Events will be completed by the team working cooperatively with only one answer sheet submitted for scoring. The team score for Round III is the exam score on the answer sheet multiplied by three. If the score is 100, then the team score will be 100 multiplied by 3, which equals 300.

5. The two highest scoring teams in each division after Rounds I-III advance to round IV. In the event that two teams are tied after three Rounds a tie-breaker will be used. First tie-breaker: team score in Round III, second tie-breaker: team score in Round II, third tie-breaker: team score in Round I.

6. In Round IV a maximum of four students will compete in the winner-take-all buzzer round.

a. One student on each team is designated as the spokesperson for that team. Only the responses from the designated spokesperson are considered official.

b. One point is awarded for each question answered correctly by a team.

c. Team members may buzz in at any time a question is being read, however, should they buzz in before the entire question has been read, they will have to answer based solely on the information they have heard up to that point.

d. Once a team member has buzzed in, the team has 15 seconds to consult and have a response given by its spokesperson.

e. If an incorrect response is given, the other team will have the opportunity to hear the entire question and then have 15 seconds to respond.

f. A maximum of 30 questions will be asked. In the event of a tie after 30 questions, the first team to correctly answer a tie-breaking question will be declared the winner.

According to National rules the competition is school against school. In the quiz bowl Round it will be school against school. If two teams from the same school have the two highest team scores after Round III, only the highest scoring team from the school advances to compete against another team from another school. The winner of the quiz bowl round in each division (small and large) will advance to the Minnesota State Economics Challenge at the St. Paul campus of the University of Minnesota. Remember the quiz bowl Round is a winner takes all Round.

Teams will be separated into small school and large school divisions in an effort to bring a degree of equity to the competition. In general small and large school divisions will be based on school population.

A school which qualifies for state competition may reconstitute the members of the team prior to the competition. However, no reconstitution of teams during the competition at Minnesota State University is allowed.

Cash prizes and trophies will be awarded to the top three individual scores from each division using scores from Rounds I & II of the competition.

Team trophies will be awarded to the top two teams in each division. Basically, it is the two teams competing in the quiz bowl Round.

The Economics Challenge is supposed to be FUN--it is a game, a contest, and not strictly a test of academic knowledge. Sound economic knowledge will certainly help teams win this game, but other factors are involved. These include strategy (deciding which questions to answer), quickness of mind and finger (buzzing in first with the correct response in the buzzer round), and a certain amount of luck (the questions may emphasize materials covered in courses, guessing correctly or the other team buzzing in to quickly and your team gets a free shot at a question). Therefore, the outcome of the game should not be construed by teachers or students as a reflection of their academic or personal abilities, because sometimes underdogs can win and that is what makes the game not only interesting, but also fun.

The coach’s principal responsibilities during the competition will be to pass out tests, monitor test taking, and pick the test up for scoring. My associates and I will do the scoring. Correct scores for each exam will be posted on an overhead immediately following the round. We will post results for every team after Rounds II and III. . NEW THIS YEAR. During the grading process I will draw student names from the pool of student s attending the Challenge and then call the student to the front and ask them a very basic question about economics. If the student answers correctly they will win a $5 cash prize

If you have any questions or need additional information, please call (218-477-4027) or send me an email at stutes@mnstate.edu.