2009 Fed Challenge Second District Winners
Montclair High School will represent the New York Fed at the National Championship 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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2008-2009 Schedule of Events
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HIGH SCHOOL |
LOCATION |
DATE(S) (TENTATIVE) |
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Teacher orientation meeting |
New York Fed |
12/09/08 |
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Fed Challenge Institute (1) |
New York Fed |
02/25/09 |
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Fed Challenge Institute (2) |
New York Fed |
03/04/09 |
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Preliminary Round (2nd District) |
New York Fed |
03/30 - 04/03/09 |
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Semi-finals (2nd District) |
New York Fed
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04/21/09 |
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Finals (2nd District) |
New York Fed
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05/01/09 |
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National Championship |
Washington, DC |
05/19/09 |
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The Challenge
The Federal Reserve Bank of New York invites high school teams
in the Federal Reserve's Second District (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) to enter the Fed Challenge.
This multilevel national competition is designed to bring
real-world economics into the classroom.
Goals
- increase understanding of the Federal Reserve's role
in setting U.S. monetary policy,
- develop students' research, cooperation, presentation
and critical-thinking skills,
- promote interest in economics, not only as a subject
for undergraduate and postgraduate study, but as the basis
for a career, and
- foster a closer relationship between schools and the
New York Fed.
How it works
The Fed Challenge is a 25-minute performance-based assessment
conducted at the head office and in the Buffalo area. Each
performance consists of two parts: a 15-minute presentation—inspired
by the work of the Federal Open Market Committee (FOMC)—and
a ten-minute question-and-answer session.
High School teams, made up of three to five
students each, gather research to make a presentation including:
- 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 Fed District competition will compete
for the national championship against other District winners
at the Board of Governors in Washington, D.C.
All participants will receive a college recommendation letter.
Second District finalists will receive a plaque. The Second
District champion will be awarded the Benjamin Strong Trophy.
National finalists will also receive a plaque. The national
champion will be awarded the FOMC cup.
The McGraw-Hill Companies will sponsor a reception
in Washington, D.C., for all students and teachers of Federal
Reserve District champions.
The Fed Challenge has been endorsed by the
Wharton School of the University of Pennsylvania, the National
Academy Foundation and the Conference Board.
For more information
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