How the competition works

Stage one – Teams enter competition

Entries open on Monday, 22 February 2010 and close on Thursday, 25 March 2010. Before you enter, please talk to your teacher as you will need their support during the competition. Then simply fill in the entry form and email or post to the Reserve Bank.

The competition is open to any secondary school in New Zealand. Each school can enter one team and all members of that team must be enrolled at the school as students.

Stage two – Forecasting and decision making

Teams entering the Monetary Policy Challenge need to provide a 1000 word written submission outlining what the Official Cash Rate should be, and why, by Wednesday, 9 June 2010.

The forecasting period is from Monday, 3 May to Tuesday, 8 June 2010 and there is a range of data you can use to help you make your decision.

Your team's entry should include an Official Cash Rate decision and should outline the reasons for your policy decision, much like the overview and policy assessment section of each Monetary Policy Statement.

Stage three – Regional finals

The judges read each written submission and allow up to ten schools from each region through to the finals.

If your team goes on to the regional final, you will need to deliver a presentation justifying your advice and take part in a question and answer session with the judges.

Presentations will be undertaken by your team’s Governor, while the whole team will take part in the question and answer session.

The Judging Criteria section of this website will show you what the judges are looking for when they evaluate your team’s written policy assessment, presentation, and performance during the question and answer session.

Stage four – National Finals

The judges select one winner from each regional final and a wildcard entry. The six national finalists travel to the Reserve Bank in Wellington for the national final. Here they will present the same Official Cash Rate decision to the judges. Once they have deliberated, the judges will announce at the awards ceremony who has been awarded the first, second and third place prizes.

Stage five – Winner’s visit

The team that is the national winner of the Monetary Policy Challenge will travel to the Reserve Bank in Wellington to spend the day there on Thursday, 16 September 2010 as guests of the Governor, Alan Bollard. As part of their visit the team will witness a live Monetary Policy Statement announcement and have lunch with important decision makers at the Reserve Bank.

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