2009 Fed Challenge Second District Winners
Montclair High School represented the New York Fed at the National Championship held in Washington, D.C. on May 19
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HIGH SCHOOL |
LOCATION |
adviser(S) |
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Montclair High School |
Montclair, NJ |
Tom Clifford, Tom Manos & Jack Weber |
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2010 Competition Schedule
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HIGH SCHOOL |
LOCATION |
DATE(S) (TENTATIVE) |
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Teacher orientation meeting |
New York Fed |
1/21/10 |
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Fed Challenge Student Institute (1) |
New York Fed |
02/11/10 |
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Fed Challenge Student Institute (2) |
New York Fed |
02/24/10 |
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Preliminary Round (2nd District) |
New York Fed |
04/12 - 04/16/10 |
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Semi-finals (2nd District) |
New York Fed
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04/23/10 |
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Finals (2nd District) |
New York Fed
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04/30/10 |
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National Championship |
Washington, DC |
05/18/10 |
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The Challenge
The Fed Challenge is a national competition designed to bring
real world economics into the classroom. Teams from high
schools in participating Federal Reserve Districts play
the role of monetary policymakers by analyzing current
economic conditions and recommending a course for monetary
policy. The Federal Reserve Bank of New York invites high
school teams in the Federal Reserve's 2nd District* to
enter the Fed Challenge.
*New York State; New Jersey counties of Bergen, Essex, Hudson, Hunterdon, Middlesex, Monmouth, Morris, Passaic, Somerset, Sussex, Union and Warren; and Fairfield County in Connecticut.
Goals
The goals of the Fed Challenge are to:
- increase understanding of the Federal Reserve's role
in setting U.S. monetary policy,
- develop research, cooperation, presentation and critical-thinking skills, and
- promote interest in economics as a subject for advanced study and the basis for a career, and
- foster a closer relationship between schools and the
New York Fed.
How it works
The Fed Challenge competition takes place at the head office in New York City and in the Buffalo area. It is inspired by the work of the Federal Open Market Committee.
High school teams, made up of three to five students each, gather and analyze data and research in preparation for a 15-minute presentation that includes:
- an analysis of economic and financial conditions (as
of the day of the presentation),
- a near-term forecast of economic, financial and international
conditions of critical importance in the development of
monetary policy (for example, unemployment, inflation, output),
- identification of risks to the economy that should be
of special concern for monetary policymakers, and
- a recommendation to increase, decrease or leave unchanged
the level of short-term interest rates.
Following the presentation, a panel of judges, comprised
of Federal Reserve staff members, financial professionals
and educators will question the team. The panel will ask the
team about its analysis, forecast and recommendation and the
Federal Reserve's role in developing and implementing monetary
policy. Judges will score teams based on five criteria:
- knowledge of the Federal Reserve's role in developing
and implementing monetary policy,
- response to judges’ questions,
- quality of the presentation,
- quality of the research and analysis, and
- evidence of teamwork and cooperation.
The winner of the Federal Reserve’s Second District competition will compete for the national championship against other District winners at the Board of Governors in Washington, D.C. Students on winning district and national teams will receive plaques and trophies.
For more information contact:
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