They answered questions about peanut butter, the current target rate for fed funds and the dreaded liquidity trap.
On the second-floor of the Tisch WNET Studio at Lincoln Center overlooking Broadway in New York City, a quartet of Belmont High School students – seniors John Lazenby and Robbie Gibson, and juniors Ben Goodman and Evan Green – who their coach and teacher, Bryan Corrigan, describe as "brilliant" were relentless, answering correctly inquires on all aspects of economics, from famous co-authors – Friedrich Engels – to knowing the name of the rule on how much the central bank should change the nominal interest rate in response to changes in inflation (the Taylor rule).
Watch the match online here at the website for the Council for Economic Education.
The team's demonstration of economics excellence came at the biggest of showcases, in the finals of the 12th annual National Economics Challenge, sponsored by the Council for Economic Education.
The team showed their outstanding potential by , in the state championships.
In a match in the Adam Smith division (for students taking advanced courses) with The Harker School from San Jose, California, the Belmont students were quickest to the correct answers – in once instance, answering correctly after hearing only the first three words of a question – and soon sprinted out to a 9-3 lead. It was only a matter of time for Belmont to have earn an insurmountable 15-6 margin.
And with that score, Belmont High School was named the Challenge's Adam Smith National Champions.
After the match, with their trophy in hand, the team discussed how they worked as a team, why they won and what – and why – they were going to answer if the question was about pizza.
View the team on the attached video.
Corrigan – who is leaving Belmont to lead the Melrose social studies department – said what impressed him about the four members brought their unique individual, and at time quite diverse, view of economics to the team.
"They are a great mix of talents and ideas," he said. "And they deserved this victory."