Are you interested in how the economy works? Would you like to win a prize that could help you to stand out from the crowd when applying to universities, or for internships?
In this competition, you have to propose what monetary policy decisions the Governing Council of the European Central Bank (ECB) should take, given the state of the euro area economy and the level of inflation. Monetary policy is the process central banks use to control the supply of money in the economy. It relies on different instruments to ensure stability, such as interest rates and purchases of financial assets.
Teams of students from schools in participating euro area countries and some international and European schools in the euro area are eligible to take part. The national central banks of the participating countries run the competition in their country. Students who enter the competition have to be aged between 16 and 19 at the time of the registration, and in their final years of secondary education. You don’t need to be studying specific subjects to enter. Your team can include up to five students and one teacher. All team members must be from the same school, but more than one team per school can take part.
The winning teams will be invited to an award ceremony with the President of the ECB and central bank governors at the ECB’s headquarters in Frankfurt am Main on 19 and 20 May 2020. Flights and accommodation will be paid and each team will be accompanied by one teacher. During the two days there will be discussions with ECB experts, presentations and a sightseeing programme. Even if you don’t win, taking part will be a valuable experience. All finalists will receive a certificate.
The first round, an online quiz, will run from October 2019 to 24 November 2019. The best teams will be invited to the next stage of the competition.
The second round, an assignment, will take place between 25 November 2019 and 22 January 2020. After that, there will be a presentation, followed by a question and answer session, which will take place in March 2019.
Please keep in mind that the timetable could change.
It’s simple. First you need to form a team (remember, up to five students and one teacher) and register here. Registration opens in October 2019.
Once you’ve registered, you can get started. First, test your knowledge with the trial version of the online quiz and, when you feel ready, take the real online quiz. Remember that you can try the trial version of the quiz as often as you wish, but you can attempt the real quiz only once.
The best teams from the quiz round will qualify for the next round. They will be asked to submit an assignment. Get creative. Your team can use all sorts of techniques to explain your ideas, including videos, plays, art, cartoons or animations. The choice is yours.
The teams with the best assignments will then be invited to take part in the final round – a presentation to a jury of experts from your national central bank. There will be a question and answer session afterwards.
One winning team will be chosen by each participating national central bank. All of these winning teams will be invited to the award event at the ECB, in Frankfurt am Main, Germany.
You can ask your teacher for help with the assignment and presentation.
The knowledge students need to acquire to be sure to successfully complete the competition can be found in the annex to the Teacher's Booklet.
You can also gain more insight on the euro and monetary policy thanks to the ECB's explainers
If you have any questions, just get in touch with us. Please find our contacts below:
Banque centrale du Luxembourg