Carmel, Indiana – A group of students from Carmel High School (CHS) utilized their profound knowledge of economics to secure victories in national and international competitions.
On May 22, a team of four CHS students competed in the 2023 National Economics Challenge (NEC) in New York. The event saw the participation of teams from New York, New Hampshire, and Georgia. Displaying a commendable performance, the CHS team emerged as the leaders midway through the competition and triumphed with a four-point lead, thereby advancing to the international level where they won a virtual match against China.
The NEC stands as the sole national economics competition in the United States for high school students. It tests the participants’ understanding of micro and macroeconomic principles along with their grasp of the global economy.
The team’s extensive knowledge in economics, as shared by Michelle Foutz, the CHS economics teacher and team coach, was predominantly developed through the school’s economics curriculum. The students were not permitted to use books or the internet while preparing for the challenges, as reported by Jordan Seigel, one of the team members.
Seigel, aged 18, elaborated that the teammates shared a common academic background, including courses like AP History. Their general knowledge enabled them to specialize in individual topics, thereby fostering a diverse economic understanding that equipped them to answer a range of questions.
“The more advantageous approach is for everyone to specialize in different areas,” said Seigel, adding, “We each had our own specialty.”
Despite their confidence, the team members expressed feeling nervous before the final competition, considering the caliber of their competing schools. However, they put up an impressive show, missing merely three out of the 22 questions during the national competition.
In the international competition, the team performed exceptionally, answering every question correctly in the match against China. Their victory as national champions earned each member a personal cash prize, in addition to a $5,000 award for Carmel High School.
Foutz expressed immense pride in the students, remarking, “I couldn’t be more proud of these kids. Beyond their impressive knowledge of economics, they exhibit great kindness, generosity, and humility.”