Before long, he was not only confident, but proficient. Wolla coached his students to the national championships in the Council for Economic Education’s Economics Challenge competition three times, culminating in a national championship in 2006; his students have also won the Cargill Global Food Challenge. Wolla went on to develop his own lessons plans, winning the MCEE’s 3M Innovative Economic Educator Award in 2003.
The strong growth of M3 continues to be driven by significant contributions from its most liquid components. The growth of loans to the private sector – and, in particular, mortgage borrowing – has strengthened further over recent months, from already rapid rates of growth. Against this background, price dynamics in the housing markets need to be monitored closely.