News Releases

May 19, 2010

Vermont Teens Compete to Prove Knowledge of Personal Finance and Economics

MONTPELIER, Vt. (May 18, 2010) — From personal credit scores to the complexities of the Federal Reserve—Vermont teens recently tackled questions on a range of financial topics as they battled for this year’s Vermont Reserve Cup Championship trophy. High school teams from seven Vermont high schools met in Montpelier Friday for the annual competition. The championship was won by South Burlington High School. Second place was won by Harwood Union High School and Mt. Mansfield Union High School finished third.

The State Treasurer’s Office, in partnership with the Federal Reserve Bank of Boston, began holding a state tournament last year to select a high school to represent Vermont at the regional competition in Boston. The aim of the competition is to promote student interest in and knowledge of personal finance, economics, and consumer affairs topics. Using a game-show-style format, teams progress through rounds of questioning that test their grasp of these subjects. In November, one team from each New England state will meet at the Federal Reserve Bank of Boston to compete for the regional title.

“This academic competition is one way we can encourage both students and teachers to increase their personal knowledge of subjects that are critical for people in understanding our increasingly complex financial world,” said State Treasurer Jeb Spaulding. “The applied nature of many of the questions also allows participants to leave the competition with information they will be able to use immediately in the course of making daily decisions about their money.”

Other schools that participated in the competition were Green Mountain Technology and Career Center, Lamoille Union High School, North Country Career Center, and Windsor High School.

“I found the questions on monetary policy to be the toughest,” said South Burlington High School student Will Bugbee. “I liked the real-world situation questions; that information is something I can already use.”

Students competing for South Burlington were Sam Bellavance, Will Bugbee, Alex Piper, Connor Scagnelli, and Kevin Wang. The team was coached by math teacher Eric Stone. The Federal Reserve Bank of Boston will pay for the team’s travel to the regional contest.

“The Vermont tournament gives us the opportunity to personally meet the teachers and students that this program is designed for,” said Economics Education Director Scott Guild from the Federal Reserve Bank of Boston. “We appreciate the Vermont State Treasurer’s Office supporting this initiative and promoting financial literacy.”

Students competing for Harwood Union High School were Sacha Borel, Kyle Guptil, Benjamin Harmon, and Christy Milne. Their team was directed by social studies and economics teacher Greg Shepler.

The Mt. Mansfield Union High School team was coached by math teacher Marilyn Marshall. Student team members were Kyle Boomhower, Mackenzie Bossi, Cal Caswell, Travis Leppanen, and Rose McLaughlin.

The event is underwritten by the TD Bank Charitable foundation. Members of the Vermont Jump$tart Coalition also supported the competition and volunteered at the event.

Source: Office of the State Treasurer
Last Updated at: May 19, 2010 08:41:09