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Master the Market

PRIZES WORTH Rs. 15,000 TO BE WON!!

Master the Market Round 0: Click here to view the questions. The entries should be mailed to master_the_market@bits-quark.org.

Introduction

“How would an increase in the price of textile cause massive loses to Relience Communications?”

An event, which pits teams up against each other in an epic battle in order to emerge successful in the business world. The business acumen of teams will be tested in three rounds. Teams would have to rely on everyday economics, awareness of current happenings and plain common sense to emerge victorious.

Rounds

Round 0

Answer any 2 of the 3 questions given below:

How does an increase in the prices of steel affect admissions in an engineering college?
How does an increase in the prices of gold affect the population?
How does an increase in the rainfall affect admission in schools?

Use socio-economic reasoning to justify and substantiate your answers. Word limit is 150 words per question. Both conventional and non-conventional answers are equally encouraged as long as they can be substantiated on the arena of established economic theories. The above questions are to test one's insight and sense of reasoning in the domains of economics. The entries should be mailed to master_the_market@bits-quark.org.

Round 1

Teams would represent firms in a computer simulated market, and take up the role of decision takers of the firm. The best performing firms will proceed to the final round.

Round 2

1. The top 6 teams of Round 1 will qualify for Round 2

2. Teams will be given a Case Study with questions, which will have to be answered after about 20 to 22 hours.

3. Teams will have to make a computer presentation as well as submit a summary (in point form) of the solution to the Case Study.

4. The maximum time limit for the presentations will be 7 minutes, followed by Judges' questions and/or questions from other teams.

5. The Judging Criteria will be as follows:

a. Logic and reasoning skill

b. Economic feasibility (practical applicability of the solution in the real world)

c. Originality and novelty

d. Application of economic concepts

6. Judges’ decision will be final.

7. Any other rules or changes will be conveyed to participants before the commencement of the round.

Eligiblity Criteria

Each registering team should comprise a minimum of 2 particpants and a maximum of three. Each participant should produce a valid college ID card as proof.

Watchout for online tutorials, and details pertaining to judging criteria and certification policy.