The Fed Challenge is a national competition sponsored by the Federal Reserve Board. In this competition, teams of three to five students assume the role of advisors to the Federal Open Market Committee in the conduct of monetary policy. Teams make a twenty-minute presentation and are then questioned by a panel of Federal Reserve officials for the final competition. IPFW competes in the regional competition held by the Federal Reserve Bank of Chicago.
The competition encourages students to apply theoretical topics in macroeconomics and monetary policy to the actual, current economic situation. The competition requires students to assemble and process current macroeconomic information and data. It also requires students to move beyond a theoretical understanding of monetary policy into a detailed understanding of the implementation of monetary policy. Participants are expected to develop a very professional presentation style.
The students that participated in Chicago on Monday, November 9, were Staci Bougher, Eldin Hasic, Jason Kochenderfer, and Elizabeth Krueckeberg. The team of advisors are from the Department of Economics and include Dr. Nodir Adilov, John Kessler, and Dr. Myeong Hwan Kim.
The students competeted in the first round against Northwestern University, University of Wisconsin-Madison, and Ball State University. They came in second place. The score for the team was 108.7! Congratulations!