The Cloquet High School Economics Challenge team won the state championship April 3 at the Federal Reserve Bank of Minneapolis.
Cloquet seniors Johnathan Muhvich, Claire Taubman, Payten Schneberger and Olivia Diver competed in the David Ricardo Division, which includes students currently or previously enrolled in an introductory economics or personal finance course.
The competition consisted of two individual tests in macro- and microeconomics as well as a team test in international economics. The top two scoring teams from the testing phase of the competition then move on to a Quiz Bowl competition, where each team buzzes in to answer questions about economics.
"The competition opens their eyes to what economics is about," Cloquet social studies teacher Tim Stark said. "I really like that it's giving students in the school an opportunity to push themselves and have recognition for their achievement."
The tests evaluate the team members' knowledge of economic theory as well as its applications.
Two Cloquet team members, Muhvich and Taubman, were the top scoring individuals in the division, leading them to face Cristo Rey Jesuit High School in Minneapolis during the Quiz Bowl.
Muhvich and Diver said the Quiz Bowl was "intense."
"In the Quiz Bowl, the first five questions or so were probably the hardest questions we had all day," Muhvich said. "Between us and the other team, they got one question right and every other both of us got wrong and we were like, 'Shoot, we don't know any of these."
The team put together a string of correct answers over the final stages of the Quiz Bowl and build a lead they would ride to a 8-6 win and the state title.
The team will take another written exam Wednesday, April 17, to determine if they qualify for the National Economics Challenge May 18-20 in New York City.