Econ Live! Rules and Procedures
Economics for Leaders is designed to help students understand human behavior and decision-making by developing the tools and insights of the economic way of thinking. Econ Live! challenges students to create original videos that demonstrate their ability to use the Economic Reasoning Propositions (ERPs) they learned in Economics for Leaders to explain the choices and issues they face as individuals, as members of groups, and as citizens of societies and nations.
Clearly demonstrate, illustrate, or explain the application of one (or more) of the 5 Economic Reasoning Propositions (ERPs) in dealing with a decision or choice among alternatives in one of the 10 topic contexts from the Economics for Leaders program.
Apply ERP #3 (People respond toincentives in predictable ways) to the topic of Labor to help explain the currrent unemployment rate.
Apply ERP #2 (Choices impose costs: people recieve benefits and incur costs when they make decisions) to the topic of Property Rights and the Environment to illustrate how changing property rights can change the costs and benefits of chosing to pollute the environment.
Students are encouraged to interpret the topics broadly and should not be constrained by examples, activities, and illustrations developed in EFL sessions. Issues within the selected topic may be those faced by individuals, or by small or large groups of individuals – from families and small groups of friends, to organizations, to communities, to nations.
Economic Reasoning Propositions *
(Select at least one)
ERP #1: People choose and people’s choices are the source of social outcomes.
ERP #2: Choices impose costs; people receive benefits and incur costs when they make decisions
ERP #3: People respond to incentives in predictable ways.
ERP #4: Institutions are the rules of the game that influence choices
ERP #5: Understanding based on knowledge and evidence imparts value to opinions.
*For the full text of the Economic Reasoning Propositions, see https://fte.org/teacher-resources/lesson-plans/efllessons
Topics / Contexts
(Select one only)
- Economic Growth and Scarcity
- Opportunity Cost and Incentives
- Open Markets
- Markets in Action
- Incentives, Innovation, Institutions
- Property Rights and the Environment
- Costs and Benefits of Government Action
- Money and Inflation
- International Markets
Videos will be judged by the Foundation for Teaching Economics using the following criteria:Selection Criteria:
- Level of skill and sophistication in use of economic way of thinking
- Appropriateness of issue chosen to illustrate ERP (match between ERP and context/topic)
- Accuracy of economic reasoning, terminology, and content
- Audience appeal: level of interest or entertainment
- Creativity and originality
- Video quality – visual and audio
- Winning videos will become the property of FTE and can be used by FTE in programs or promotions.
- Videos must be in English or have English subtitles.
- Videos must be original work of the entrant. Entrant must secure permission to use any and all copyrighted materials. Winning entrants must submit all copyright permissions and releases.
- Videos must be posted on YouTube as “unlisted” and may NOT be posted on any other site
- Entrants must have attended an EFL program in 2013 or be enrolled in a class being taught by a teacher who has attended a past EFL program to be eligible to enter.
- If more that one student collaborates on the video they must designate the attendee of EFL as the primary representative and the entrant and that representative will accept the prize on behalf of the group.
- In the case of an entry from the class of a teacher who attended EFL if more that one student collaborates on the video they must designate a primary representative as the entrant and that representative will accept the prize on behalf of the group.
- Post your video on YouTube as an “unlisted” submission. (Be sure to include the url in the Econ Live! online entry form. Videos may NOT be posted to any other public or group YouTube site or any other public access or shared site. They may ONLY appear as unlisted YouTube videos.)It is the contestant’s responsibility to notify FTE of the url for the unlisted video. The url for the unlisted video may only be given to the FTE.)
- Submit the FTE online entry form. (see link on this page)
- Each entrant may enter the contest only once. Entries become the exclusive property of the sponsor and will not be acknowledged or returned.
- All entries will be kept confidential until judging is complete and releases have been obtained for winning videos. Winning videos will be posted to the FTE contest group site on YouTube by February 1, 2014.
- By submitting their video entries, Participants warrant that the submitted video and all elements contained therein do not infringe on any copyright owned by another, and/or that the content of the video is within the bounds of the fair use doctrine. Participants also confirm that to the best of their knowledge, any statements made in the submitted video are true and do not violate or infringe on the rights of third parties. FTE reserves the right (but not the obligation) to verify that all necessary clearances have been obtained, prior to selecting the video as a finalist or winning video. FTE may disqualify any submitted video at any time if the participant has not obtained all necessary clearances.
- The Participant must not have granted any person or entity other than FTE the right to use the video.
- Submitted videos will not be accepted or eligible if they include any content that contains or that the FTE deems to contain:
- Explicitly profane or obscene material
- Endorsement of (or condones) illegal drug use, alcohol abuse, or other illegal activity
- Nudity, profanity, or extreme or gratuitous violence;
- Language will be evaluated by the sponsor based on context and societal acceptability;
- Any express or implied commercial endorsement;
- Any derogatory characterization of any person or group based on age, race, color, gender, gender identity and expression, sexual orientation, religious beliefs, marital status, mental or physical disability, citizenship, creed, national origin, physical appearance, political affiliation, union membership, or other unethical or unlawful factors;
- Depictions of any conduct, language, or other context deemed inappropriate by the sponsor or any of the judges.
Each Participant is solely responsible for obtaining from all applicable individuals or entities any and all required rights, releases, consents, clearances, licenses, and other authorizations necessary to exploit and otherwise use their submitted video in any and all media. Clearances required include but are not limited to:
1. Location releases;
2. Releases from any person whose name, voice, likeness, or persona is referenced, shown, or otherwise used in the submitted video;
3. If any individuals depicted are under the age of majority, Participants must obtain the signature of the individuals’ parent or guardian on the applicable clearance(s).
CONDITIONS OF PARTICIPATION
By entering, Participants agree to defend and indemnify FTE and FTE’s principals, subsidiaries, affiliates, directors, officers, employees, and agents from any and all liability for any injuries, loss, or damage of any kind arising from or in connection with the contest or receipt or use and/or misuse of any prize.
The rights described in these official rules begin immediately upon submission of the submitted video and continue indefinitely unless revoked in written notice from FTE to the Participant. FTE has no obligation to post or display any submitted video and may at its discretion remove any submitted videos at any time. The Participant releases FTE from any and all claims against the Participant in connection with the submitted video.
Email email@example.com or firstname.lastname@example.org
Parental Permission and Affirmation of original work and necessary releases sample form (will be required for winning entries)
I hereby grant my child permission to participate in the Foundation for Teaching Economics video contest.
I affirm that all aspects of the submitted video have been original student work and that all necessary release have been obtained.