Monetary Policy Challenge

Terms and conditions

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 registration 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. Incomplete entries will not be accepted.
  3. Entries are limited to one team per secondary school.
  4. 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.
  5. Employees and relatives of employees of the Reserve Bank of New Zealand may not participate.

Submission of Entry

  1. To participate, a school advisor or teacher needs to send an email to the Reserve Bank at challenge@rbnz.govt.nz . This email must confirm the intention to enter, give the name of the school, the teacher’s name and position in the school, the names and class levels of the team members, indicate which team member is the ‘Governor’, and provide contact details and a phone number. Only one team can enter per school.
  2. Entrants must submit a pre-recorded 3 – 5 minute video of a mock Monetary Policy Statement media conference, outlining the team’s Official Cash Rate (OCR) decision. In the video presentation, each team member should present at least one piece of economic analysis or advice, with the Governor delivering the OCR decision. The video should be supported with a brief PDF summary of the key points. Your analysis and conclusions should be supported with latest data and evidence from Reserve Bank or external data sources.
  3. All materials must be received by the Reserve Bank by 5.00 pm, Friday 17 May 2019. Instructions on how to send the materials will be emailed to all registered participants.
  4. The Reserve Bank will choose six national finalists, whose names will be posted on the Monetary Policy Challenge website by close of business on Friday, 31 May 2019.
  5. The national winners of the Monetary Policy Challenge and the teams placed 2nd and 3rd agree to release their presentation material to interested schools that request a copy. They also agree a video of their presentation at the national final placed on the Monetary Policy Challenge and YouTube websites 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 presentations; three judges will adjudicate the national finals.
  4. Judges will select six national finalists from all entries to compete in the national final.

National final by video call

  1. This will be held on 13-14 June 2019. Teams agree to adhere to the presentation and judging time that is allocated and notify the competition coordinator if there are any problems.
  2. Certificates for participation, merit or distinction will be awarded at the judges' discretion to all teams who present.
  3. The national winner will be announced after the national final. National finalists will receive a certificate; and certificates will be awarded for first, second and third place. Cash prizes are awarded to the winning schools.
  4. The national winning team will spend Wednesday 7 August 2019 at the Reserve Bank as a guest of the Governor, Adrian Orr, and attend a Monetary Policy Statement announcement and media conference. The Bank will cover the reasonable cost of travel to and from Wellington and any accommodation for each team member and one teacher.
  5. National finalists consent to their name and image being used for public relations and marketing purposes relating to this competition without compensation and also 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.