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Monetary Policy Challenge

CashCould you run New Zealand's cash flow? That's the question put to participants in the Reserve Bank's Monetary Policy Challenge (MPC).

About the challenge

The MPC is designed to expand senior secondary school economics students' understanding of monetary policy and links to NCEA achievement standards.

Just like economists working in the Reserve Bank, each team analyses the economic conditions facing New Zealand and the outlook for inflation. On the basis of that analysis, they decide on an appropriate setting for the Official Cash Rate (the Reserve Bank’s interest rate). Each team presents the reasons for their decision in a written submission and, if selected as a regional finalist, an oral presentation.

Reserve Bank Governor Alan Bollard said in a media release: 

The Challenge gets students thinking about how the New Zealand economy works, what influences it and the impacts of economic policy.  It confronts students with the difficulties and considerations involved in a decision-making process.  And tomorrow's New Zealand is going to need people with these skills, to help us do better."

National final

In 2009 a team from Christchurch Girls’ High School will compete against five other schools from around New Zealand in the national final at the Reserve Bank in Wellington in September. The winning team will receive $2,500 for their school and will be invited back to the Reserve Bank to watch the Governor announce the Monetary Policy Statement.

The national final will be held in Wellington on Thursday, 3 September 2009. Teams will make a 10-minute presentation to the judging panel and spend 20 minutes answering questions from the judges.

August 2009