St. Paul, MN – April 16, 2018 – Parnassus Preparatory School won the state champion title in the David Ricardo, or large school, division of the statewide Economics Challenge on April 11 at the Federal Reserve Bank of Minneapolis. This was the first year that Parnassus Preparatory School competed in the competition. Cloquet Senior High, winners of the 2017 competition, took second place.
Students Isaac Erickson, Ryan Friess, Pranav Rupireddy, and Karthik Subramanian were in first place following the first three rounds of testing in microeconomics, macroeconomics, and international economics/current events. Parnassus students went on to win the final quiz bowl round against defending state champions Cloquet Senior High by three points. The team won a cash prize of $200. Katherine Good and Alexander Bagwell, economics teachers at Parnassus Preparatory School, were their coaches. 75 students in 19 teams from 18 schools competed in the state championship in three divisions. Parnassus Preparatory School competed against 7 schools in the David Ricardo division.
The team will now compete in the national semi-finals on April 24, where the top eight teams in the David Ricardo division will be invited to the National Economics Challenge in New York City in May. Eight different Minnesota high schools have reached the final four at the national level, more than any other state. Minnesota students have placed in the top four at the national competition 19 times in the competition’s 17-year history.
Economics Challenge began in 1986. In 2001, the competition became a national program with more than 10,000 students competing across the country in the National Economics Challenge. Minnesota’s Economics Challenge is supported by the Mosaic Company, Piper Jaffray & Co., and Think Mutual Bank with the state championship hosted at the Federal Reserve Bank of Minneapolis. The National Economics Challenge is sponsored by the Council for Economic Education.
About Minnesota Council on Economic Education
Established in 1961, the Minnesota Council on Economic Education is a nonprofit organization housed at the University of Minnesota with a mission to equip Minnesotans with the economic and personal financial understanding needed to succeed in today’s complex economy. MCEE accomplishes this mission by teaching teachers, engaging students, and reaching communities. MCEE is an affiliate of the national Council for Economic Education (CEE) and as a leading state council with 57 years of service to Minnesota. MCEE is well placed through collaborative partnerships with public and private entities to fulfill its mission, https://www.mcee.umn.edu.