Most of the rules and procedures for Noncompetitive division teams are the same as those for Competitive division teams. Teams consist of three to five students and may be chosen in any way the school decides. Team members give a 15-minute presentation using the format of their choice, followed by a 10-minute Q &A with the same four components:
analysis of the U.S. current economic conditions;
forecast of economic conditions relevant to the formulation of monetary policy;
identification of significant risks to the economy about which the Fed should be concerned; and
recommendation, with supporting reasons, as to what action the Fed should take with respect to its monetary policy.
There are three main differences:
The New York Fed provides all the data and charts necessary to create the team’s presentation (see Noncompetitive division charts and advance questions). Teams will be expected to update four charts using Federal Reserve Economic Data (FRED): GDP, employment and unemployment, and inflation (see “Gathering Data and Making Graphs with FRED” ). The rest of the charts may be used as they appear on this web site. Teams should choose from among the indicators only those that are most important to current economic circumstances and to the story they want to tell. Teams are welcome to use as many of the provided indicators as they like in any order; they need not use all the indicators as not all will be important at any given time.
Judges will ask most of their questions from those provided by the New York Fed in advance.
Judges are likely to ask:
Three questions about the data from those appearing on the charts that follow;
Three questions for policymakers from the list below;
Additional questions based on the presentation, as time allows.
Teams do not receive a numerical score, and there is no winner. Instead students receive more extensive feedback and coaching from the judges.
