College Fed Challenge

The Fed Challenge is a team competition for college undergraduates that promotes in depth analysis of the Federal Reserve’s monetary policy decisions. The Fed Challenge also aims to encourage advanced study of economics and interest in related career fields.

  • 2013 Results
  • 2013 Competition Details

2011 Results

2013 National Championship

December 2, 2013
Board of Governors of the Federal Reserve System
Washington, DC

National Teams

  • Harvard College (MA)
    National Champion Team
  • University of Pennsylvania (PA)
    First Runner-up Team
  • James Madison University (VA)
    Honorable Mention Team
  • Northwestern University (IL)
    Honorable Mention Team
  • Pace University (NY)
    Honorable Mention Team

National Champion Team, Harvard College, with Federal Reserve Chairman Ben Bernanke at the 2013 National Championship

National Champion Team, Harvard College, with Federal Reserve Chairman Ben Bernanke at the 2013 National Championship.

2013 Fed Challenge New England Participating Colleges

  • Bentley University (MA)
    Faculty Advisors: David Gulley, Aaron Jackson
    2013 New England Finalist Team
  • Boston College (MA)
    Faculty Advisor: Robert Murphy
  • Boston University (MA)
    Faculty Advisor: Todd Idson
  • Brown University (RI)
    Faculty Advisor: David Wyss
  • Bryant University (RI)
    Faculty Advisors: Aziz Berdiev, Edinaldo Tebaldi
    2013 New England Finalist Team
  • Clark University (MA)
    Faculty Advisors: Wayne Gray, Dessislava Slavtcheva
  • Dartmouth College (NH)
    Faculty Advisors: Elisabeth Curtis, Frank Zarnowski
    2013 New England First Runner-Up Team
  • Harvard College (MA)
    Faculty Advisor: Benjamin Friedman
    2013 New England Champion Team
  • Middlebury College (VT)
    Faculty Advisor: Scott Pardee
  • Mount Holyoke College (MA)
    Faculty Advisors: Jens Christiansen, James Hartley, Frank Moseley
  • North Shore Community College (MA)
    Faculty Advisor: Moonsu Han
  • Northeastern University (MA)
    Faculty Advisors: Oscar Brookins, Rand Ghayad
  • Quinnipiac University (CT)
    Faculty Advisor: Robert Porter
  • Roger Williams University (RI)
    Faculty Advisors: Maria Kula, Priniti Panday
  • Salem State University (MA)
    Faculty Advisors: Kenneth Ardon, Dorothy Siden
  • Trinity College (CT)
    Faculty Advisor: Joshua Stillwagon
  • Tufts University (MA)
    Faculty Advisor: Christopher McHugh
  • Yale University (CT)
    Faculty Advisor: Nicholas Perna

Key Events


New England Competition
Date: Wednesday, November 6, 2013
Location: Federal Reserve Bank of Boston

  • Preliminary Round: Up to 20 teams compete in the morning for 4 finalist slots.
  • Final Round: The 4 finalist teams compete in the afternoon finals.  
  • The afternoon Champion team advances to the National Competition in Washington DC.

National Competition
Date: Monday, December 2, 2013
Location: Board of Governors of the Federal Reserve System, Washington DC

  • For Champion teams representing the Boston, Chicago, New York, Philadelphia and Richmond Districts;
  • One team wins the National Championship.

The Task

Each team has a maximum of 15 minutes to make an oral presentation that:

  • Analyzes current economic conditions as of the day of competition;
  • Provides the team’s economic forecast for the near term;
  • Explains timely issues and risks that should receive special attention in formulating monetary policy; and
  • Makes and justifies a team recommendation for Fed monetary policy, encompassing both traditional tools and newer tools as warranted.

The most common presentation format is a simulated FOMC meeting, but other formats are allowed provided they cover all the requirements above.

Following the presentation, the team faces 15 minutes of questions from a panel of judges.

New England Competition Details

  • Open to college and university undergraduates and community college students.
  • Participating schools must be located within the Boston Fed’s District borders (which includes all of New England except Fairfield County CT);
  • One team may register per school;
  • Minimum of 3 students, and maximum of 5 students, on a team;
  • Limited to students who are officially registered full-time or part-time at the school.
  • Students on a team do not need to be registered for the same courses.
  • Team members may not be Fed employees or interns during the Fall 2013 semester.
  • The morning round will be judged by faculty advisors; the afternoon round will be judged by Boston Fed economists.
  • Decisions by competition judges are final and cannot be appealed.
  • Teams pay their own expenses to the District Competition at the Boston Fed.



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