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Contact: Staci Schiller
Phone: (415) 974-3240

HONOLULU'S IOLANI HIGH SCHOOL MEETS THE CHALLENGE!

Hawaii Students Win Third Place in the Federal Reserve Bank of San Francisco Economics Challenge

SAN FRANCISCO, May 7, 1999-- Iolani High School from Honolulu, Hawaii, won third place in the Federal Reserve Bank of San Francisco Economics Challenge competition, sponsored by the Federal Reserve Bank of San Francisco and State Councils on Economic Education.

The five-member team, coached by teacher Dick Rankin, competed against winners of regional Economics Challenge Competitions from Alaska, Arizona, California, Oregon, Utah, and Washington. Jimmy Atkinson, Tanner Fahl, Francis Lam, Kalani Oshiro, and Jason Yeung each received $50 savings bonds for their third-place finish.

First place--and $200 savings bonds--went to economics teacher John Farra's team of David Barclay, Jessica Black, Kate Gruher, May Lim, and Ray Siu of Sunset High School in Portland, Oregon. Service High School from Anchorage, Alaska, claimed the second-place spot. Coached by teacher Ann Lyon, team members Aaron Kirk, Glen Lau, Taylor Nelson, Joe Peach, and Tim Trudell were awarded $100 savings bonds for their efforts.

Iolani High School's Fahl also was named the top individual student out of all competitors, winning an additional $200 savings bond.

The Federal Reserve Bank of San Francisco Economics Challenge is an annual competition held in the Federal Reserve's western region. Seven teams of three to five students received all-expenses-paid trips to San Francisco to participate. They competed in the areas of microeconomics, macroeconomics (with an emphasis on the Federal Reserve System and money and banking), international and comparative systems, and current economic issues.