Cleveland Fed Contest: Cash, Smart Phones, or...? Students Can Win Prizes by Creatively Predicting Payments of the Future

The Federal Reserve Bank of Cleveland is offering high school juniors and seniors an opportunity to win prizes by explaining how they will pay for items in the year 2020.

For the Bank's 2013 Creative Writing Contest, "Future World: How would you like to pay for that?," students can submit an essay, poem, play, or short story explaining how people will pay for the things they want and need in the year 2020. They are asked to consider questions such as: What does Future World look like to you? Is there cash, or is something else the primary form of payment for goods and services? Have there been major innovations in payment systems? To answer these complex questions, contestants must think critically about basic economic principles.

The deadline for submissions is February 28, 2013. The top prize is a $500 cash gift card.

Each qualifying entry will be evaluated on comprehension, organization, conclusions, creativity, and clarity. Submission requirements, a complete list of prizes, and an entry form can be found on the Bank's website.

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