The Federal Reserve Challenge is an annual competition where a small team of UW students makes a presentation to the Chicago Federal Reserve Board. The Presentation takes the form of a mock Federal Reserve meeting where the students discuss what action they would take as members of the Federal Open Market Committee (FOMC). The competition requires each team to extensively research one area of the economy that the Fed would look at during a FOMC meeting. All of the data-gathering and model-building will be done by the students on our team. The challenge is a great way for students to apply economic knowledge outside the classroom in a real world setting. The winning team of the national Federal Reserve Challenge also wins a scholarship and the chance to meet various members of the Federal Reserve Board.
There is no set meeting time or place, as the Fed Challenge will be a small group. Research begins during the Spring semester. Over the summer, students do mostly independent research on their topic. During the fall semester, the team will work closely together to create the final presentation. A heavier time commitment is necessary in the beginning of the Fall semester leading up to the actual challenge, which takes place during the month of November.
Email Thomas Costello at firstname.lastname@example.org if you have any questions!