Bonnie Meszaros, assistant professor of economics and assistant director of UD's Center for Economic Education and Entrepreneurship, leads students in the "Make a Deposit" exercise.

Bright ideas

Student projects shine at Meaningful Economics and Entrepreneurship Competition

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9:22 a.m., June 27, 2011--Does the lighting in your home or office affect your mood? Are you tired of the regular soft white glow of the everyday light bulb? Then give “Bottle Bright” a try! Not available in stores (yet), this “cool, recycled cover to cover over your light bulb” that promises to create “cool bright colors in your room” was the brainchild of a team of third and fourth grade students participating in Delaware’s annual Meaningful Economics and Entrepreneurship (ME*) Competition.

Held over three days during students’ final weeks of school, this problem-solving activity at the ME* Competition -- in which the Center for Economic Education and Entrepreneurship in the University of Delaware's Alfred Lerner College of Business and Economics takes an active role -- tasked students with creating a solution to the plethora of plastic jars and bottles that are discarded in trash bins every day. 

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Student teams were asked to create a product, give it a catchy name, determine a market, outshine their competition, price the product and plan on modes of distribution and selling. 

“Bottle Bright” was just one team's solution that addressed the problem at hand and gave the used plastic objects a second life.

Other student products included the “Electric Bottle Plant,” a self-watering plastic bottle plant system; “Change-a-nator,” a plastic bottle machine that converts unwanted plastic objects into anything your mind can imagine; and the “Fantastic Bird Feeder,” a smart and functional style dining option for your favorite feathered friends.

The problem-solving activity was just one part of the ME* Competition, which is designed to provide third through sixth grade students the opportunity to demonstrate their knowledge of economics, entrepreneurship and personal finance.

During the competition teams also participated in a written test; a production activity in which teams organized their members efficiently to make as many products as possible; and prepared a marketing strategy to present to a panel of professional judges.

For example, the “Make a Deposit” activity, designed by Judy Austin, a retired elementary school teacher, provided students with practice in filling out deposit slips while the “ME Hunt” (think human bingo) introduced the students to social networking and meeting new people. 

This year, which marked the ME* Competition’s 25th anniversary, boasted a record number of participants with 145 teams of 580 students from 33 schools across the state. 

Judges included representatives from ING Direct, Discover, United Way of Delaware, New Castle County, Bank of America, Delaware State Bank Commissioner, Delaware State Treasurer’s Office, HSBC Insurance, Delaware Center for Enterprise Development, Citigroup, Delmarva Community Wellnet, Milford Housing Development Corporation, Delaware Community Foundation, Sussex County Community Development and Housing and Shufelt Educational Services.

Made possible through funding by Bank of America and Discover, the ME* Competition is offered through a partnership of the Delaware Council on Economic Education and the Delaware Financial Literacy Institute.

Article by Kathryn Marrone Meier

Photo by Duane Perry

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