Cleveland Fed contest asks students to choose most significant advancement in last 100 years, explain its economic impact

December 2013 marks the 100th anniversary of the signing of the Federal Reserve Act, which created our nation's central bank. During that 100-year span, life has changed dramatically.

The Federal Reserve Bank of Cleveland is offering high school juniors and seniors an opportunity to win prizes by choosing the most significant advancement in the last century and explaining its impact on the economy.

For the Bank's 2014 Creative Writing Contest, "100 Years of Change: Once Upon a Time Before TV," students can submit an essay, poem, play, or short story. As they think about the advancement or invention they have chosen, they are being asked to consider its costs and benefits and whether it has created unintended consequences.

The deadline for submissions is February 28, 2014. The top prize is a $500 cash gift card.

Each qualifying entry will be evaluated on comprehension, organization, conclusions, creativity, and clarity. The contest is open to 11th and 12th grade students attending schools in the Fourth Federal Reserve District, which includes Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia. Submission requirements, a complete list of prizes, and an entry form can be found on the Bank's website.

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