St. Louis Fed Sponsors YouTube Contest

This isn't your father's Fed. The Federal Reserve Bank of St. Louis is showing its down with social media (you know, down in the way your parents are down), launching a YouTube contest for national economic education. The Bank is seeking online videos that illustrate the importance of an independent central bank for a high school audience.

The third annual contest was announced yesterday and runs until April 18, 2011. To compete, entrants must be 13 years of age or older, a U. S. resident, and eligible to receive a U.S. Savings Bond. Submissions can be from an individual or from a team.

Prizes will be awarded to the top four videos: a $1,000 U.S. Savings Bond for first place, a $750 U.S. Savings Bond for second-place, a $500 U.S. Savings Bond for third place, and a $250 Savings Bond for the "peoples’ choice" award based on the number of YouTube votes.

In addition, the winning videos will be used by teachers across the country to help explain economics to other high school students. Applicants can head on over to http://www.stlouisfed.org to enter.