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HIGH SCHOOL FED CHALLENGE CHAMPIONSHIP
New in 2010-11
There are a number of major changes to the High School Fed Challenge for 2010-11. For more details and a description of the entire program, see the How to Guide.
Competition and other events
  • There will be no Board of Governors competition this year. The Second District competition will be renamed the High School Fed Challenge Championship.

  • The winning team will be invited back to lunch at the New York Fed to celebrate their victory and to receive their school's engraved trophy.

  • This year, all faculty advisors MUST attend one of the faculty advisors orientations (and stay through the end of the session).
Rules and procedures: Preliminary and semi-final round
  • Teams will be required include 7 "standard" macro data series in their presentation: payroll employment, civilian unemployment, core CPI or PCE, headline CPI or PCE, real GDP, housing starts and the federal funds rate;

  • Teams can "lift" charts displaying these series from the New York Fed website. The charts can be copied into presentation documents, resized, and headings and other bullets can be added.

  • Teams may obtain the required data series from other Federal Reserve Economic Data (FRED) at the St. Louis Fed) or from other sources and display them differently using their own chart formats, but the required data series must be included.

  • The New York Fed website will provide additional macro data series charts. Teams are encouraged to study them and consider using them in their presentations.

  • Teams may supplement charts provided by the New York Fed with additional data/charts of their own choosing.

  • Teams are required to provide judges with a "statement," modeled on the FOMC statement, which gives the team's policy recommendation and the main reasons. Teams should be prepared to answer questions about their statement.

  • Presentation format is still flexible (mock FOMC, talk show, business presentation, etc).

  • Presentations will continue to be via paper handouts. Teams should bring five paper copies of their presentation and statement to the event.

  • Team presentations will be reduced by three minutes (to 12 minutes); Q &A will be increased by three minutes (to 13 minutes).

  • A revised judges' scoring rubric to reflect the new rules and procedures will be issued. Presentations will receive less weight; understanding of the concepts and material enumerated in the learning goals will receive most of the weight. The revised rubric will be emailed to participants and posted on the website later in January 2011.

  • Revised judges' instructions will be issued and posted to the website in January 2011. All teams will be asked SOME questions from a list that accompanies the data charts to test their basic understanding of those variables and their importance for monetary policy.

  • Teams should be prepared to explain their choice of additional charts and data series—that is, explain why they chose to focus on data other than the required series.

  • Competitive and Instructional divisions will follow the same rules and procedures except that the Instructional teams present to "coaches" instead of judges, and do not receive a score or advance to the next round.
Rules and procedures: Final round
  • The teams in the Final round will simply read their statement (no prepared presentation).

  • The remainder of the time will be devoted to Q & A. (Next year we may institute a briefing book component).

  • Judges will determine the winner based solely on the team's statement and the Q&A. There will be a revised scoring rubric for the finals, to be posted in January 2011.

  • Cell phones and computers must be put away in student holding rooms. We will also ask the audience to put away their cell phones and computers.