State Treasurer David McRae said his office sponsors the competition because studies consistently show that financial habits are formed at a young age.
About 100 high school students across Mississippi gathered at the Mississippi Public Broadcasting Studios in Jackson recently to test their knowledge of economics.
The event was part of a statewide effort for public and private schoolers to gain financial literacy as they head out into the world.
“Today, the American Dream heavily relies on financial wellness and saving for the future,” said Mississippi State Treasurer David McRae (R). “Learning how to make smart financial decisions at a young age unlocks multiple doors for their future.”
He continued by saying nobody is too young to learn about good financial decisions. The sooner students begin saving and setting financial goals, the better.
McRae’s office was one of several sponsors of the competition hosted by the Mississippi Council on Economic Education.
The council’s President, Selena Swartzfager, described the two-day competition as “the Jeopardy of economics,” referring to the popular game TV show.
The students were divided into two groups named for the famed economists Adam Smith and David Ricardo. The first round of the competition assessed basic knowledge through the use of a testing website to answer questions about economics. The second round was an Escape Backpack activity, like an Escape Room, but instead of general trivia, the questions focused on economics. During the Escape Backpack, students discussed solutions as a proctor watched over them, with cell phones placed in baskets. The third round, known as the Quiz Bowl, saw the top two teams from each division face off against each other. MPB will televise the third round in August.
The top Adam Smith team was Germantown High School with Northwest Rankin High School in second, while the top David Ricardo team was Madison Ridgeland Academy with Northwest Rankin High School in second.
Personal Finance Challenge winners were Germantown High School, Ridgeland High School and Wayne Academy (middle school). The Personal Finance Students of the Year were Hallee Carter of EPIC Academy (middle school) and Gurwarisdeep Singh of Ridgeland High School.
Swartzfager explained that every student must take an economics class before graduating from a Mississippi high school. The Mississippi Council on Economic Education, a nonprofit located within Millsaps College, has hosted the competition for more than 15 years.
McRae said his office sponsors the event because studies consistently show that financial habits are formed at a young age. If students wait until adulthood to learn about money, they are already behind, but if students understand saving, investing, and long-term planning, they are set for a completely different trajectory.
“When people understand how to budget, save, and invest, they make better decisions for their families—and that creates more stability, more opportunity, and more growth across our state. From college savings to retirement planning, financial wellness isn’t just good for individuals; it’s essential to Mississippi’s long-term economic success,” he said.
-- Article credit to Daniel Tyson for the Magnolia Tribune --
