Thursday, November 25, 2010

Need money for College? The Dallas Federal Reserve Bank Essay contest may be for you!

This is a great opportunity for you if you like to write and are at least a little bit interested in economics. You don't need alot of economic knowledge for this contest, but it helps! Check out the topic.  It is an easy one this year...From what I gather, they don't get alot of entries so you have a better than average chance of winning...Go to the essay contest webpage HERE for more details...I will be happy to assist you in getting started with your essay...

21st Annual Essay Contest 2011

Topic: Consume or Conserve?

Essay contest deadline: March 11, 2011

One of the basic questions of economics is the choice between consumption and saving. When scarce resources are used today, what is the impact? Will future generations lack important resources because they have been depleted? Can the use of some types of resources cause irreparable harm to the environment?

A variety of public and private initiatives seek to encourage consumers to conserve natural resources in order to slow resource depletion or minimize environmental impact.

Curbside recycling in a city

Land that is set aside through private or public initiatives

Mandatory fuel standards or tax credits for hybrid vehicles

Carbon taxes or cap and trade systems

Green building codes

The 2011 Economic Essay Contest, Consume or Conserve?, asks you to judge one of these conservation initiatives or one of your own choosing. Use basic economic concepts, such as scarcity and opportunity costs, and fundamental economic models, like supply and demand, to analyze the merits and effectiveness of a specific conservation plan or environmental regulation. The initiative that you analyze might be local, national or global in scope. In your essay, describe the plan and its benefits, evaluate the costs of the plan and draw a conclusion about the effort.

Contest Details

The contest is open to 11th and 12th grade students attending schools in the Eleventh Federal Reserve District, which covers Texas, northern Louisiana and southern New Mexico. Participants submit essays to the appropriate office of the Dallas Fed, as determined by the location of their school. See the list of Eleventh District counties to determine the appropriate office.
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