College Fed Challenge
2021 College Fed Challenge Results

Congratulations to the finalists and winners of the 2021 College Fed Challenge!

Liberty Street Division

National College Fed Challenge Finals:

  • First Place: Pace University

College Fed Challenge Regional Finalists:

  • St. Lawrence University
  • Rutgers University - New Brunswick

Maiden Lane Division

  • First Place: Borough of Manhattan Community College
  • Second Place: The College of St. Rose
  • Honorable Mention: Lehman College
  • Honorable Mention: Queensborough Community College
2021 College Fed Challenge

The Federal Reserve Bank of New York and the Federal Reserve Board of Governors will continue to conduct the College Fed Challenge competition in a virtual format in 2021.

The College Fed Challenge is a competition designed to bring real-world economics into the classroom. Teams play the role of monetary policymakers by analyzing economic conditions and recommending a course for monetary policy.

Teams can compete in one of two divisions–Maiden Lane or Liberty Street–depending on the level of economics-related courses taken by students.

Schools in the Federal Reserve's Second District are eligible to compete.

About the Competition

The College Fed Challenge is an unforgettable experience in economic analysis, monetary policy decision-making, public speaking and teamwork.

Fed Challenge participants develop skills—the ability to think analytically, to make effective presentations, to work as a team, to think on their feet—that are valuable in both their academic and professional careers.

To compete, teams of three to five students give a presentation on the economy and participate in a Q&A with the judges.

Judges are New York Fed economists and staff who are experts on economics and monetary policy.

The College Fed Challenge is designed to meet the following goals:

  • to increase understanding of macroeconomics and the Federal Reserve's role in setting U.S. monetary policy and ensuring financial stability;
  • to promote interest in economics as a subject for study and the basis for a career; and
  • to foster a cooperative relationship among students, teachers and the New York Fed.

Schools can participate in only one of two divisions. Information about each division is below. For questions or clarifications about eligibility, please contact New York Fed Economic Education at

Maiden Lane


Students who have not taken a 200-level (or higher) class in economics.

Key Dates

Registration deadline
September 30, 2021, at 5:00 p.m. EDT
Submit Videos
October 8, 2021, at 5:00 p.m. EDT
Virtual Q&A
November 9, 2021
Winner Announcement
November 17, 2021

Rules and Steps

1. Form a Team

  • Teams can consist of up to five (additional alternates acceptable) undergraduate students.
  • Faculty advisors (if applicable) cannot have worked for the Federal Reserve System 2 years prior to advising a team.
  • All team members must be students registered at a U.S. college or university during the fall of 2021.
  • Teams cannot consist of students from multiple colleges or universities.
  • Multiple teams cannot register from the same college or university.

2. Register Your Team

Teams must register here with the following information: school/university name, advisor(s) name(s), students' names, alternates' names, primary contact, and Fed Challenge region.

Faculty advisors are required to ensure one submission only is received from each school. Once registered, each team will receive a confirmation email from the New York Fed with their team's unique ID number. Teams must register by September 30, 2021, at 5:00 p.m. EDT.

3. Develop Your Video Presentation

  • Teams must prepare a presentation analyzing the case study.
  • Video should be simple presentation recording, remember that presentations are scored on content, not video production quality.
  • Presentations should be no longer than 20 minutes.
  • Paper submissions are not accepted.
  • Do not identify your school or names in your presentation. For the purposes of fair judging, proposals must exclude any identification of team members, advisors, or school affiliations. This includes school colors, emblems, and logos.

4. Submit Your Video Presentation

  • Each registered team will receive a designated and unique team ID number once registered. This will be an email from the New York Economic Education team.
  • Registered teams should upload their videos to YouTube as unlisted and submit their unlisted video link by email by October 8, 2021, at 5:00 p.m. EDT. In YouTube, please title your submission video with the following convention: "College Fed Challenge Maiden Lane Division 2021 Team #" [ID number given during registration step 2 above].
  • Send the link to the YouTube video entry to Include in your subject line "College Fed Challenge Maiden Lane 2021 Video Entry [Team ID Number]"


Round 1: Virtual video submission of 20-minute presentation

Teams analyze a case study and make presentations to a panel of judges who are experts in economics and monetary policy. Presentations should consist of the following elements:

  • An analysis of current economic conditions as presented in the case study.
  • A monetary policy recommendation encompassing the team's analysis of the data. Teams should provide justification for their monetary policy action.
  • Demonstration of communication and teamwork among the team.

Presentations will be judged using the rubric provided here.

Round 2: Virtual and judged Q&A of the team

Teams will be asked questions by a panel of judges about the case study and their analysis

The winner of the Maiden Lane Division will be announced at a virtual live event on November 17, 2021.

Liberty Street

The Federal Reserve Bank of New York is partnering with the Board of Governors and other co-sponsoring Federal Reserve Banks to conduct the 2021 College Fed Challenge program. For information about dates, competition format, rubrics, and registration, please visit the Board of Governors College Fed Challenge website.

How to Form a Team

A team consists of three to five students who attend the same school. A team can be formed in a number of ways:

  • As part of an extracurricular activity. The team is made up of student volunteers who work on the Fed Challenge as an out-of-class activity. An advantage of extracurricular recruiting is having returning participants, who can relate, first-hand, their experiences from the previous year's Challenge.
  • As the result of a class- or school-based competition. The class is divided into teams. Each team makes a presentation before the rest of the class; the team with the best presentation goes on to represent the school. An alternative is the "all-star" approach, in which the five best presenters in class are chosen. Or team selection can be extended to all the classes in a school by choosing either a best-of-school team or a team of the school's best presenters.
  • By teacher selection. A teacher assembles a team on the basis of overall performance, some in-class assignment or expressed interest in the subject.

Other class members can get involved by taking part in team activities such as:

  • gathering and analyzing data and useful background information;
  • researching important concepts and issues that are likely to be important to monetary policy, preparing charts and other parts of the presentation;
  • judging practice sessions and providing feedback; and
  • serving as an alternate team member in case a team member is unavailable on the day of the competition.
How to Register a Team

Registration is now closed.

Code of Conduct

In order to foster an efficient and respectful environment to successfully participate in the College Fed Challenge, students, faculty advisors and judges are reminded to follow the Code of Conduct:

  • The New York Fed College Fed Challenge is an educational program that aims to encourage students to learn more about the Federal Reserve System and to spur interest in economics and finance as the basis for a possible career.
  • Participants should conduct themselves professionally, respectfully and with integrity during all the events that constitute the New York Fed College Fed Challenge.
  • Participants should not engage in verbal or physical behavior that, according to reasonable sensibilities, stigmatizes or victimizes an individual on the basis of race, color, national origin, sex, religion or disability.
  • Participants should not engage in verbal or physical behavior that threatens or harms any individual involved in the New York Fed College Fed Challenge.
  • Students and faculty advisors should not approach the judges with questions, comments or concerns about the judging process, feedback or scoring of teams. These questions, comments and concerns should be referred to the New York Fed Outreach & Education staff onsite who will address them.
  • Failure to follow the code of conduct may result in the participant's or the team's immediate disqualification from the College Fed Challenge and from other current and/or future educational programs organized by the New York Fed.
Competition Procedures FAQs

How many competition dates are there?

  • There will be a preliminary round consisting of a video submission. The finals will be a virtual Q&A with a panel of judges on a day and time set at a later date.

What are brackets and how are teams assigned to them?

  • A bracket is a group of teams that compete against each other in a competition round. All teams in a bracket are scored by the same judges. The winner of each bracket will advance to the next round of competition. Teams are assigned at random to brackets and to one of the two preliminary competition dates.

Who are the competition judges and how are they assigned to brackets?

  • Judges are New York Fed economists and staff who are experts on economics and monetary policy. Judging panels are assigned at random to the brackets.

If you have additional questions, contact the program manager, Chaeri Han, at

Registration deadline
Thursday, September 29, 2022
Submit Videos
Thursday, October 6, 2022
Virtual Q&A
November 7 - 10, 2022
Winner Announcement
Friday, November 18, 2022

Related External Content
Heather Daly
Director of Education Programs
212 720-6006

Chaeri Han
Economic Education
212 720-2992

Graham Long
Economic Education
212 720-7304
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