Bellaire High School Wins 2008 Goldman Sachs Foundation Regional National Economics Challenge Finals

Texas Economics Whiz Kids Win Regional NCEE and Goldman Sachs National Economics Challenge and Are Heading for New York City for Championship Finals

New York, NY – Competing against eight high schools from across the country, Texas’s Bellaire High School economics team will compete in New York City in the 2008 Goldman Sachs Foundation National Economics Challenge on May 19. The Challenge, which is administered by the National Council on Economic Education, offers students two levels of competition on the basis of their course enrollment in the subject area to date. The Bellaire team is enrolled in single semester general economics classes and will face-off in the Adam Smith. The eight teams previously are each state and regional champions in their respective divisions, having defeated nearly 1,000 teams from 35 states to advance to the finals.

Established in 2000, the Challenge is the only national economics competition for high school students. The competition honors students and teachers for their hard work and outstanding achievement, and showcases the critical need for an in-depth understanding of the subject.
“Competition is an undeniable and effective motivator, even in education,” said Stephanie Bell-Rose, President of The Goldman Sachs Foundation. “Globalization necessitates an understanding of the dynamics of economics, and the Challenge motivates young people to deepen their understanding of the subject so that they are well-prepared for the future. We are pleased to once again be a part of this exciting program and event.”

The final competitions will be held from 1:30 p.m. to 3:30 p.m. at the Elebash Recital Hall on the campus of the Graduate Center at the City University of New York in New York. Connie Mitchell-Ford, Economics Editor for the Wall Street Journal, will co-host the event with NCEE's President and CEO, Robert Duvall. The finals will be conducted in a “college bowl” tournament style and will require teams are to answer rigorous questions about complex economic concepts and theories of micro- and macroeconomics, international economics, and current events. Approximately 200 educators, students and economists are expected to attend the event, which will award over $100,000 in U.S. Savings Bonds to first and second place teams and their teacher-coaches.

"In the current economic climate, the public is more concerned than ever about the deficit in understanding of how to thrive in our complex economic system.,” said NCEE's President and CEO, Robert Duvall, “This is the eight National Economics Challenge competition that NCEE/Goldman Sachs Foundation has hosted, and year after year, the students continue to amaze us with their expertise and knowledge of economics. Increasingly, the public recognizes that comprehensive economics education for students in grades K-12 is no longer an option, it is a necessity.”

The NCEE (www.ncee.net) is a non-profit, non-partisan organization dedicated to improving economic and financial literacy. Both directly and through its unique nationwide network of State Councils and more than 200 university-based Centers for Economic Education, NCEE’s programs reach over 150,000 K-12 teachers and more than 15 million students in more than 70,000 schools each year.

The Goldman Sachs Foundation was funded in 1999 with a $200 million donation from The Goldman Sachs Group, Inc. The Foundation’s mission is to promote excellence and innovation in education worldwide. The Foundation is an important extension of the tradition of philanthropy and public leadership at Goldman Sachs. Grants have been awarded in excess of $114 million since its inception, providing opportunities for young people in more than 20 countries.