program guide and rules - international economic summit...

© 2015 International Economic Summit Version February 2015 www.EconSummit.org Facebook/EconSummit

Program Guide and Rules What the Summit Teaches

Student teams develop and are measured on their ability to use practical skills like planning, problem solving, critical think-ing, adapting to change, working as a team, budgeting, investing, negotiating and closing deals. They develop attitudes of integrity, responsibility, professionalism and accountability as they interact with up to 100 other student country teams. During 10 weeks of in-class preparation time, they learn about economics, finance, practical math, marketing, geography, writing, public speaking, video production and even costume and display design. As advisors to their assigned country, their goal is to raise the standard of living, which they do by scoring points in 20 or more Summit challenges and exams.

Contents Page

Online Classroom Preparation Activities 2

Country Fact Sheet Assignment 2

Economic Proposal Assignment 2

Economic Proposal Video 2

Strategic Plan Assignment 2

Summit Rules Certification Quiz 2

Initial Summit Day Activities 3

Arrival and Set Up 3

Geography Quiz 3

Trade Alliance Session 3

Alliances Choose Debate Teams 3

Summit Day Trading Session 3

Export / Import Trading 3

Paying Tariffs to the Summit Bank 4

Cash Management 4

Foreign Aid Transactions 4

Bank Loans and Repayment 4

Long Term Development Cards 4

Contents Page

Scoring the Summit Trading Session 5

Import Scoring (Scorekeepers) 5

Bank Scoring (Bankers) 5

Summit Day Quizzes and Exams 6

Current Events Quiz 6

Personal Finance Quiz 6

Economics Exam 6

Summit Debate 6

Summit Costumes and Table Displays 7

Summit Award Ceremony 7

Appendices

Correlation of Skills, Behaviors and Attitudes 8

Sample Import Scoring Form 9

Sample Bank Scoring Form 10

Table Display Judging Rubric 11

Costume Judging Rubric 12


Online and Classroom Preparation Activities 10 + weeks prior to Summit Day

Student teams (usually 5 members each) serve as Economic and Financial Advisors to their Summit country. To en-ter the competition, all teachers, teams and students must register at www.EconSummit.org. Teams then start to score points immediately by completing the following Pre-Summit assignments. Successful teams use the weeks prior to the Summit to submt all assignments on time, study for the exams & quizzes and prac-tice...practice...practice the Summit Day activities. All assignments are submitted via www.EconSummit.org .

1. Country Fact Sheet Assignment (5 Points)

Research and submit demographic, eco-nomic, political facts about your country.

Use EconSummit.org, the CIA World Fact Book and other resources for your research.

2. Economic Proposal –Written ( 0 to 5 Points)

Choose a real-world economic issue / prob-lem and submit your team’s 150 word anal-ysis and solution on EconSummit.org .

3. Economic Proposal—Video (0 to 5 Points)

Create an engaging 60 second video to help promote and gain support for your Global Economic Proposal.

4. Strategic Plan Assignment (5 Points)

Evaluate country resources and needs, then submit your import trade goals for 9 differ-ent product categories on EconSummit.org.

Create a financial plan for borrowing, in-vesting, budgeting and managing your cash.

Prepare and practice ways to adjust your strategies in case circumstances change.

5. Summit Rules Certification Quiz (5 Points)

Each student must score at least 80% on the online Summit Rules Certification Quiz. It may be taken multiple times.

Use this “Program Guide and Rules” docu-ment to study for the quiz.

Will help you:

Analyze and evaluate your country’s eco-nomics, culture, problems and advantages.

Begin to design costumes and table dis-plays to help promote your country team.

Will help you:

Learn to prioritize problems and solutions and to write a concise / persuasive pro-posal that may win the Summit Debate.

Will help you:

Demonstrate your creative technology and marketing skills in a way that will capture the attention and support of other teams.

Will help you:

Understand and evaluate supply, demand, surpluses, shortages and product pricing so that you can compete successfully.

Prepare to solve the universal problem of managing scarce money and resources.

Work as a team, have a contingency plan, adapt to change and manage your time.

Will help you:

Understand the “playing field” including the rules, risks and strategies for winning.

Save time, have confidence and compete as a fast moving, focused team of profes-sionals that can “get business done”.


Arrival and Set Up

Volunteers & sponsors are assigned as Bankers, Scorekeepers or mem-bers of Team USA.

Student country teams have creative table displays and costumes de-signed to promote and market their country.

1. First Activity: Geography Quiz (0 to 10 Points)

Teams are shown Power Point slides of 10 countries. They score 1 point for each correct answer on their form.

Team Leaders take answer sheets to Scorekeepers, who correct the forms and pass them to the Senior Scorekeeper.

2. Second Activity: Trade Alliance Session (10 points)

Each team chooses 1 Trade Alliance to join. Each Alliance has up to 10 teams, depending on the size of the Summit.

Limits are placed on how many teams from each school or teacher can be in an Alliance.

Teams fill out and deliver a Trade Alliance Form to their Scorekeeper, who checks & passes it to the Sr. Scorekeeper.

Teams may engage in contracting future trades with other teams dur-ing this session. Breaking a contract, if it cannot be resolved, may re-sult in a 10 point penalty.

3. Each Trade Alliances Elects a Debate Team (5 points)

Teams in each Alliance meet to choose one team to represent that alliance in the Summit Economic Proposal Debate.

The chosen team receives 5 points. If that team wins the debate, all teams in that alliance receive 5 additional points.

The Summit Day — Initial Activities

The Summit Trading & Finance Session

Session consists of 7 simultaneous activities detailed on this & the following page.

1. Export / Import Trading ( 27 points + 3 bonus = Total Possible 30 Points)

When instructed, Team Leaders pick up a packet of Export / Import Coupons from Scorekeepers.

Teams seek to import Coupons to meet 9 specific product category goals detailed on their country Strategic Plan Forms

At the end of trading, teams fill out and turn in an Import Scoring Sheet to Scorekeepers, who recount coupons, correct mistakes and give 3 points for each Import Category Goal achieved (+ 3 Bonus Pts if all 9 Goals are met) .

Expo

rt / Imp

ort

Co

up

on

s Fo

rms &

M

aterials

Room Setup

Ban

kers

Score

kee

pe

rs Facilitato

r &

Sen

ior

Score

kee

pe

r

USA

Team

Te

am

Team

Te

am

Team

Team

Te

am

Team

Te

am

Team

China

Team

Treasurers

Team

Leaders

Country Packets from Scorekeepers


Summit Trading & Finance Session Continued

When instructed, Team Treasurers will pick up a Currency Packet and other items from their Summit Banker.

1. Paying Tariffs to the Summit Bank

Teams acquire Import Coupons from countries in and out of their Trade Alliance. The importing team must pay the Bank “1 Devco Tariff” on each Non-Alliance coupon acquired.

If the Import Coupon does not have the required Bank’s Tariff Paid Stamp, it will not be counted for the team’s Import Goals.

2. Cash Management (5 Points)

Each team begins with a certain amount of currency.

At end of trading, teams turn in all ending cash to the Bank, which gives 5 points if ending cash value is greater than beginning value.

3. Foreign Aid Transactions

There are 3 categories of teams: High, Middle & Low Income.

High Income Countries must give a certain number of “Foreign Aid Grants” to Low Income Countries.

If the High Income team fails to turn in the required number of “Foreign Aid Receipts” to the Bank at the end of trading, the Bank imposes a 10 point penalty per each missing receipt.

When a Low Income Country receives a Foreign Aid Grant, they can cash it in at the Bank for 5 Welcos .

4. Bank Loans & Repayment (0 to 10 points)

Each team can receive 1 Bank Loan for 10 Welcos (minus 1 Welco interest). Teams must deposit 1 Export Coupon as collateral.

Teams may repay 0 to 10 Welcos to the Bank as they choose.

The Bank returns the Export Coupon only if Loan is repaid in full.

At the end of trading, the Bank gives 1 point for each Welco repaid on the loan.

5. Long Term Development Investment Cards (0, 5, 10, 15 or 20 Points)

Each team should purchase up to 4 Long Term Investment Cards from the Bank. Each card costs 5 Welcos.

At the end of trading, the team turns the Investment Cards back into the Bank, which awards 5 points per Card purchased.

Summit Currencies

BASE CURRENCY is the Red “Welco” Poker Chip

1 (red) Welco = 1.00 Welco

1 (blue) Devco = .50 Welco

1 (white) Lesco = .25 Welco

Currencies have the same relationship as U.S. Quarters,

Half Dollars & Dollars.

Bank Currency

Packets

Foreign Aid Grant Value 5 Welcos

Bank Loan 10 Welcos

Long Term Investments Cards

5 Welcos Each


Scoring the Summit Trading & Finance Session

Import Scoring Form

Bank Scoring Form

2. Team Treasurers pick up Bank Scoring Forms from your Summit Banker (35 points possible)

Count your remaining currencies and Long Term Development Cards.

Record these number on the Bank Scoring Form.

If you repaid all or part of your Bank Loan, record the number of Welcos repaid.

If you are a High Income Country, record the num-ber of Foreign Aid Receipts you are turning in.

Place the completed Bank Scoring Form, the cur-rencies, Long Term Cards and Foreign Aid Re-ceipts in the Bank Envelope and take them to your Banker

The Banker will recount the items, record your points and pass the completed Bank Scoring Form into the Senior Scorekeeper.

At the end of the Trade and Finance Session, teams count and turn in their coupons, cards, remaining currencies and other items to the Scorekeepers and Bankers as follows:

When Closing Bell Sounds:

All Trading must cease immediately

Teams in line at the Bank are permitted to finish their transactions

1. Team Leaders pick up Import Scoring Forms from Scorekeepers (30 points possible)

Place the Import Coupons in order.

Team Leader counts coupons and records the number received in the white column of the Im-port Scoring Form

Team Leader then takes the Import coupons & the Scoring Form to the Scorekeeper

The Scorekeeper recounts coupons, corrects mis-takes and checks if coupons from “non-alliance teams” have the required Tariff Paid Stamp

Scorekeeper tallies the points for Import Goals and turns the form into Senior Scorekeeper.

Paid


Summit Quizzes & Exams

In addition to the World Geography Quiz at the start of Summit Day, there are 2 optional quizzes and a required Economics Exam.

1. Two Optional Quizzes: Personal Finance & Current Events

During Trading Session, each team may choose to take either or both optional quizzes as an opportunity for profit.

The team chooses 2 team members to take a quiz. The same two students or different ones may take the other quiz.

They pay 10 Welcos per quiz. Each quiz has 10 multiple choice questions. The administrator pays them 3 Welcos in return for each correct answer.

The Current Events Quiz is over articles posted on the Sum-mit Website and World Headlines of the last 6 months

The Personal Finance Quiz is over articles posted on the Sum-mit Website and High School Finance Topics.

Most Teams score 50-70% on these optional quizzes.

2. Required Economics Exam (24 points Possible)

All teams take this 12 question multiple choice exam near the end of the Summit day. Quiz is covers Economic con-cepts, see Study Guide on website.

Scorekeepers correct the exam and give their teams 2 points per correct answer.

Econ

Exam

24

Points

Earn up to

20 Welcos

Summit Debate

Prior to the Summit Day teams researched and prepared written and video “Proposals” on real-life economic prob-lems. Then at the Summit each Trade Alliance chose one team to be in the Debate.

Up to 10 teams present their proposals and videos in the Debate

All teams, Scorekeepers / Bankers vote for the proposal of their choice. An initial vote at large Summits eliminates several of the teams. Smaller Summits may have just one vote.

The remaining teams continue to debate. Additional votes are taken, which results in one team being named “Debate Winner”.

All countries in the Debate Winner’s Trade Alliance receive 5 points.


Summit Costumes & Table Displays

Teams apply their artistic skills as they create country displays and costumes. These are also used as practical tools for promoting and marketing their coun-try and achieving their Summit goals.

Summit Bankers typically are the costume and table display judges at the Summit.

They use specific costume and display rubrics to evaluate and score the teams objectively.

The teams earn 1 point for each qualified “Element” used in their displays and costumes up to a maximum of 10 costume points and 10 table display points.

A team of judges also chooses the Summit’s Best Costumes and Table Displays. These teams each receive 3 Bonus Points.

Conclusion of the Summit

The Summit day ends with an Award Ceremony. Sponsoring organizations provide winning teams in multiple categories with certificates, prizes and recognition. Individual team members demonstrating outstanding per-formance also receive personal letters of recommendation and certificates of achievement that can be used for college applications, internships and career opportunities.


Summit Activities Weight per

Skill Set

Skills & Behaviors Content Knowledge

Country Facts Assignment

25%

Research & Prioritize

Economics, Politics & World Culture

Cla

ssroo

m P

rep &

Pra

ctice 1

0 w

eeks

Economic Proposal, Written Analyze, Evaluate & Problem Solve

World Affairs & Economics

Economic Proposal, Video Innovate & Persuade

Video Production & Communications

Strategic Plan Assignment Evaluate, Prioritize & Plan

Economics, Finance & Gen Business

Exam

s

& Q

uizzes

Global Geography Exam

25%

Prepare in advance & Use teamwork

Geography, History & Economics

Economics Exam Prepare & Apply Knowledge

Economics & Finance

Personal Finance Quiz Manage time & priorities

Personal Finance & Entrepreneurship

Current Events Quiz Prioritize & Use teamwork

Local, National and World Affairs

Mea

sura

ble S

kills

& O

utco

mes

Country Alliances & Contracts

25%

Use teamwork & Solve Problems

Gen Business & International Relations

Export / Import Products Analyze & Adapt to Change

Entrepreneurship & Marketing

Use and Repay Bank Loan Use Credit & Be Accountable

Finance & Gen Business

Invest in Long Term Development Evaluate & Invest Long Term

Economics & Finance

Achieve Cash Profit Plan, Budget & Manage Priorities

Finance & Gen Business

Co

mm

un

icatio

n

& R

esults

Country Displays

25%

Innovate & promote

World Culture, Art & Languages

Team Costumes Use creativity & promote

Art, Culture and Marketing

Economic Proposal Videos Use technology & communicate

Technology & Marketing

Presentations and Debate Think critically & persuade

Communications & Public Speaking

Attitudes and Behaviors

1. Integrity

2. Responsibility

3. Accountability

4. Work Ethic

5. Initiative

Measurable Skills

1. Solve problems

2. Manage time & priorities

3. Analyze & evaluate

4. Contribute to the team

5. Communicate & persuade

Content Knowledge

1. Economics

2. Personal Finance

3. Entrepreneurship

4. Marketing

5. Geography and Culture

What makes the Summit different?

What difference does the Summit make?

Employers list the following skills, behaviors and attitudes as the most important for university and career success. The Summit develops and measures these practical abilities while also teaching economics, finance, entrepreneurship, business and geography.

program guide and rules - international economic summit...

Documents