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New in 2011-12

This year there will be only a few changes to the High School Fed Challenge rules and procedures. For more details and a description of the entire program, see the How to Guide.

As last year:

  • There will be no Board of Governors competition.
  • The winning team will be invited back to the New York Fed to celebrate their victory and to receive their school's engraved trophy.
  • The scoring rubric from last year will be used again this year. As always, judges evaluate teams during all rounds with strong emphasis on their economic logic.
  • Since this is a team competition which depends on the contributions of all members, judges will consider team breadth and depth in all rounds. That is, everything else equal, the team with more breadth and depth among members will receive a higher score.

New rules and procedures: preliminary and semi-final rounds

  • As last year, we will offer faculty advisor orientation sessions in December and January. This year, attendance at one session is mandatory for faculty advisors who did NOT attend a session last year. Attendance is optional (but recommended) for faculty advisors who attended a session last year.
  • Teams are required to include 6 (not 7) standard macro data series in their presentation: total nonfarm payroll employment, civilian unemployment, core CPI or PCE, headline CPI or PCE, effective federal funds rate and real GDP. Housing starts will now be included as one of the optional macro chart series available on the New York Fed website.
  • Teams will use paper presentations and handouts during each round of competition. Teams are not allowed to use posters, flip charts or other visual aids during their presentation.
  • Teams are required to hand judges a written "statement" closely modeled on the FOMC statement. The statement can be included in the oral presentation and chart deck in another format that is consistent with that format. For example, for teams using a talk show format, the statement handed to the judges should be modeled on actual FOMC statements; however, the statement in the chart pack can be in a format consistent with a talk show. As last year, teams should expect to answer questions on their statement in the Q&A.
Clarification of rules and procedures: final round
  • As last year, 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.
  • Judges will determine the winner based solely on the team's statement and the Q&A.