This year the Essay Contest examines a photo of an economic event during
1973. Participants are asked to answer the above questions based on clues
offered by the picture. As you gaze at this photo, ask yourself questions
such as: What economic concepts are depicted in this image? What happened
in the U.S. and international economies that left Don Roberts without
any gas to sell? Could a similar situation develop again in petroleum
or another industry?
Students should take time to reflect on what they have learned in their
economics classes and/or economics books and magazines. They will explore
how the picture relates to their knowledge of economics. Most important,
students have the opportunity to creatively interpret the picture and
find diverse resources to support their ideas.
The Bibliography provides sources about economic
thinking as a starting place for different viewpoints to look at the picture.
Resources include the Beige Book Archive, which describes
economic conditions across the United States from 1970 to the present.
Students are also encouraged to brainstorm with their classmates about
the economic significance of this photo. Then write a creative essay that
combines economic events with concepts suggested in the picture.