Judging criteria: Questions and answers

In the question and answer session the judges will ask you questions to see how you think.

  • If faced with a problem you don’t immediately know the answer to, show how you might logically step through it. Start by telling the judges what you do know; if you think out loud the judges can help lead you in the right direction.
  • Remember, the judges are not just interested in economic theory in isolation. It is good to use what you have learnt in your economics class as a basis for thinking through or structuring your answers, but you can also apply other sources of knowledge – what you read in the paper in the morning, know-how from your part-time job, or anecdotal evidence from a relative’s business operations.
  • The judges are not looking for an individual winner, rather the best team. Make sure everyone gets a chance to contribute to the discussion.

Here are some examples of questions asked by the judges in previous years:

  1. What are the costs of inflation?
  2. If it was found that New Zealand livestock had foot and mouth disease, can you explain how this would affect economic activity in New Zealand and, in turn, what would be the appropriate monetary policy response from the Reserve Bank?
  3. The exchange rate has been very high against the US dollar for some time. Why do you think this is?

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