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South African Reserve Bank
Monetary Policy Committee
Schools Challenge

Judging process and criteria 

In the first part of the Monetary Policy Committee Challenge Reserve Bank and Department of Education, judges assess individual teams’ written Monetary Policy Statements.
If a team is chosen as a finalist, they go through to the second part of the Challenge. This is the presentation round where judges evaluate their presentation of their statement as well as their ability to reason through questions related to monetary policy.
In both rounds, judges will be looking for an:
  • understanding of Economics/the South African economy
  • understanding of monetary policy in South Africa
  • ability to clearly articulate thoughts and ideas.
A suggestion to teams is that they draw up questions that they want to answer in their statement, and then make sure that they address them systematically.  Example questions include:
  • Is the economy slowing down or speeding up?
  • What areas of demand are strong or weak?
  • What is the outlook for demand?
  • What is happening in the world economy?
  • In which direction does employment appear to be moving?
  • How close is the economy to operating at full capacity?
  • Are wage pressures and other costs rising or falling?
  • How has the exchange rate changed?
  • Is the current rate of inflation likely to rise or fall?
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