2009 Terms and Conditions of Entry

To follow are the terms and conditions that must be met for an entry to be valid. Entrants accept these terms and conditions when they sign their entry form. Please read these terms and conditions carefully as failure to meet them could result in disqualification from the competition.

Entries

  1. Entries are open to all New Zealand secondary schools as specified by the Ministry of Education
  2. All entries must be received by Friday 3 April 2009.
  3. Incomplete entries will not be accepted.
  4. Entries are limited to one team per secondary school.
  5. Teams must consist of three to five students who are currently enrolled in a New Zealand secondary school and are in Year 12 or 13.

Written submission and PowerPoint presentations

  1. The MPC forecasting period is from Monday, 4 May to Tuesday, 9 June 2009. Teams need to use data supplied on the Monetary Policy Challenge website.
  2. All written statements must be submitted by 5.00pm, Wednesday 10 June 2009
  3. Entrants must submit a monetary policy decision on the Official Cash Rate (OCR) and explain and justify this decision in a 1000 word statement on monetary policy.
  4. Analysis and conclusions should be supported with evidence from Reserve Bank or external data sources.
  5. The names of all regional finalists will be posted on the Monetary Policy Challenge website on Monday, 29 June 2009.
  6. Regional finalists will need to provide a PowerPoint presentation by Wednesday, 4 August 2009.
  7. The national winners of the Monetary Policy Challenge agree to release their PowerPoint and written submission to interested schools that request a copy. They also agree to having a video of their presentation at the national final placed on the Monetary Policy Challenge website for other schools to view.

Judging

  1. The judges’ decision is final and no correspondence will be entered into.
  2. Entrants shall not contact judges for direct feedback on the judging process or results.
  3. Two judges will adjudicate the regional finals; three judges will adjudicate the national finals.
  4. Judges will select five regional winners from the pool of regional finalists. If they feel that one second-placed team across the regions has also shown sufficient merit, then at the Bank's discretion, this team may also be asked to compete in the national final.

Regional final and national final

  1. Approximately 10 teams from each region will be chosen to go forward to the regional finals in Auckland, Hamilton, Wellington, Christchurch and Dunedin based on the strength of their written submission.
  2. A teacher or parent must accompany teams to the regional and national finals.
  3. Teams agree to adhere to the judging time that is allocated and notify the competition coordinator if there are any problems.
  4. Certificates for participation, merit and distinction, together with certificates for regional runner-up and regional winners, will be awarded to all regional finalists.
  5. The national winner will be announced after the national final. National finalists will receive a participation certificate and certificates will be awarded for first, second and third place. Cash prizes are awarded to the winning schools: 1st - $2,500; 2nd - $1,500; 3rd - $750
  6. Six national finalists will proceed to the National Final at the Reserve Bank in Wellington on Thursday, 18 August 2009. The Bank will cover the cost of travel to and from Wellington for each team member and one teacher. One night’s accommodation will be funded if travel cannot be completed in one day.
  7. The National winning team will spend Thursday, 10 September 2009 at the Bank as a guest of the Governor, Alan Bollard, and watch a Monetary Policy Statement announcement. The Bank will cover the cost of travel to and from Wellington and any accommodation for each team member and one teacher.
  8. Regional and National finalists agree to participate in an un-paid media/promotional programme (e.g. press, TV interviews etc), as required.

General

  1. Any grievances or complaints must be submitted in writing to the Monetary Policy Challenge Coordinator who will forward them to the Communications Committee for review, comment, consultation and resolution.
  2. Any entrant failing to comply with these terms and conditions may be disqualified from the competition.
  3. The Reserve Bank of New Zealand reserves the right to amend these terms and conditions or issue binding rulings on any matter not included in these terms and conditions. Such decisions shall be final.

up