I was a participant at the Federal Reserve Challenge for Chicago Fed district, representing University of Michigan. It was an interesting experience, and certainly forced me to learn more about the US economy than I would if left to venture alone. The purpose of the challenge was to pose as respective Federal Reserve board governors and to provide an analysis of the current economy and well as suitable monetary policy to fulfill the FR manifesto. Further questioning by economists from the Federal Reserve itself are to judge the knowledge grasp of each team member.
It was a challenge to understand and remember all the terminologies, the aspects of the economy and how changes in one area will have a ripple effect on the general economy. But it was even more heart wrenching to see the team fell during the course of the challenge. The eventually champion is the team from Northwestern University, defending its consecutive entry into the national level since this challenge was started.
From what I found out, Northwestern is also the consecutive defending champion in the national level even since the challenge started, conceding the crown only once to Harvard university. It’s an honor to see their performances and it certainly is a sight.
But next year, I want to see University of Michigan overturn the king and crowned the champion.I’ll be back.