News
Federal Reserve Awards Three Seniors
Three of St. Louis U. High's rising economists recently placed first, third and fourth out of 45 participants in the St. Louis Federal Reserve Bank’s "Hot Topics in the News" economics essay contest.
"The essays were judged by a group of established economists on the economic accuracy and themes of the paper, as well as how the terms were integrated into the writing," said AP Economics teacher Peggy Pride.
Three SLUH students won prizes. Senior Joel Schmidt came in first, winning a $500 savings bond for his essay entitled "The Economic Benefits of Stem Cell Research in Missouri." According to Schmidt, Missouri stands to benefit enormously if stem cell research proves effective.
"Doing the essay definitely taught me that economics can be considered in every situation," said Schmidt.
Fellow seniors John Neill and Ray Kreienkamp came in third and fourth, respectively. Neill received a $200 bond for his essay "Economics and Professional Sports." Kreienkamp tackled a similar issue with his paper on "The Major League Baseball Free Agent Market" and won a $100 bond.
"I had never thought of baseball in that light before," said Kreienkamp. "Even so, it was really interesting."
The contest is designed for students to delve deeper into the economics of everyday life as they write a three- to four-page research paper about a topic of their choice.
This year's challenge was to "pick out a favorite topic in the news and put together a short paper describing how economics affects that issue," according to the Federal Reserve Bank.
Pride first introduced the idea to her students during economics classes in November.
"It is something that I have done every year for the past several years now," said Pride, who also offers extra credit to students as an incentive to participate. According to Pride, SLUH has entrants in the competition on a yearly basis, and, for the past three years, at least one SLUH student has taken home a prize.
The winners and their families were invited to the Federal Reserve Bank on Jan. 24 for a luncheon, a tour, and the presentation of the awards.
"The presentation was very nice," concluded Pride. "I was honored to be there. The thing is, though, that the guys did all of the work on their own. They had to know how to research and write well. I just introduced the idea…I was very proud."
By Christian Ronzio of the Prep News.
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