International Economic Summit Conference

By Richard Wilk

On December 11, Mrs. Harrison’s economics classes were took advantage of the opportunity to participate in the inaugural International Economic Summit Conference in California. This event, presented to economics classes across the state, helped give students a better understanding of international economics and foreign policies. Needless to say, most of Mrs. Harrison’s Econ students were less than enthusiastic. But luckily with a bit of prompting and the promise of a day off from school, four teams of six students each from both of her classes assembled to attend this daunting expedition into the world of International Economics.

The day opened in the USC banquet room with a number of speeches and lectures from the summit officials about how important it is that students understand economics and how glad they were that so many schools attended. After what seemed like hours the event finally started. The opening event consisted of a flag quiz, which required that each team successfully identify ten flags out of a potential sixty. Most teams quickly became undone by this event due to the fact that most of the flags had a very similar look and all had the colors, white, red, and blue. Out of the potential ten points to be had from this event, very few teams successfully scored 100%, but among these prestigious teams was a group of students from El Segundo, representing the country of Brazil.

The next event consisted of an “alliance building” section. Prior to coming to the event, each team was given a list of imports and exports. During this event, the teams mingled and created trade alliances. The purpose of these alliances was for teams with similar goals to join together to become trading partners. To help stress the importance of these alliances, teams were threatened with a penalty if they were to ever do any kind of economic activity with any nations outside their alliances.

Next came the trade session. This activity had each team empty their exports while acquiring all of their desired imports. Needless to say it was extremely chaotic. With about three hundred students all attempting to accomplish their goals, it was insane. The normally tranquil room became a burgeoning “shout fest” as teams attempted to acquire rare imports such as energy and technology while attempting to trade off their common resources (raw materials, and consumer goods). Alliances were quickly broken as teams hoping to further their goals went to teams outside their alliances.

During lunch there was a costume contest that allowed each team to acquire more points. Costumes were to be symbolic of the country that each team represented, and teams were judged on uniformity and how well the costume represented the country in question.

After lunch, selected teams were to discuss their various trade issues. Among these selected teams were Monaco and Brazil from El Segundo. After all the teams gave their presentations, each team at the summit was to vote for their favorite issue and the top eight teams from that voting process received extra points. El Segundo’s own Brazil was selected for this honor with their trade issue on the importance of genetically modified foods.

After the trade issues were finished the final scoring took place. Final scoring involved the summit officials looking at each teams trade alliances, trade goals that were accomplished, trade issues, flag quiz, and the costume judging. All teams from El Segundo were ranked among the top twenty, and Brazil received sixth place. Each top twenty team received a visor, and the top three teams each received a plaque declaring their economic excellence.

Most participating students found this event to be a worthwhile and educational experience. A few even expressed the desire to take place in another summit if one should arise later this year. When asked if he would be interested in doing another similar event, Senior David Wertheimer II said, “Just name a time and place, I’ll be there!”