Guilford runner-up in Fed Challenge competition
Correction: Davidson College does not offer a course that focuses on preparing for the Fed Competition.
Jasmine Ashton
Issue date: 11/21/08 Section: News
"They're getting outstanding training and they're not scared to use it. They're able to go out and use it right away, that's what we're after," said Voehringer Professor of economics Robert Williams about the Guilford Fed Challenge team. "People who are going out there and changing the world aren't people memorizing things from textbooks."
On Nov. 5, Guilford placed as a finalist in the 2008 Charlotte Federal Reserve Challenge after competing among 12 North and South Carolina schools. They were outranked only by UNC-Chapel Hill.
This regional academic competition encourages a better understanding of the nation's central bank, the forces influencing economic conditions in the United States and abroad, and the way the economy affects everyone.
Students made 20-minute presentations on monetary policy and were scored on content, teamwork, response to questions, presentation and style.
"We had to use economic indicators up until the day of the competition and advise the Federal Reserve on how they should change the federal fund's target rate," said senior economics major Jason Shrader. "After the competition the judges gave feedback. They said we did an amazing job and that we answered all the questions they had prepared in our presentation, so the questions they asked were on the spot."
"The team made unorthodox original analysis, which is Guilford by the way, taking the judges off-guard," said Williams. "They changed the minds of the judges about what's happening (with the financial crisis)."
Williams announced the contest to his economics of financial crisis class at the beginning of the semester. Senior economics majors Kevin Bohm, Sarah Gehring, Jason Shrader, Osama Sabbah and junior economics major Daniel McCurdy took the initiative to form a team.
According to Shrader, many of the schools competing have an entire course built around this contest, spending the entire semester doing their research inside the classroom. Most other schools also had their coaches with them during the presentation.
On Nov. 5, Guilford placed as a finalist in the 2008 Charlotte Federal Reserve Challenge after competing among 12 North and South Carolina schools. They were outranked only by UNC-Chapel Hill.
This regional academic competition encourages a better understanding of the nation's central bank, the forces influencing economic conditions in the United States and abroad, and the way the economy affects everyone.
Students made 20-minute presentations on monetary policy and were scored on content, teamwork, response to questions, presentation and style.
"We had to use economic indicators up until the day of the competition and advise the Federal Reserve on how they should change the federal fund's target rate," said senior economics major Jason Shrader. "After the competition the judges gave feedback. They said we did an amazing job and that we answered all the questions they had prepared in our presentation, so the questions they asked were on the spot."
"The team made unorthodox original analysis, which is Guilford by the way, taking the judges off-guard," said Williams. "They changed the minds of the judges about what's happening (with the financial crisis)."
Williams announced the contest to his economics of financial crisis class at the beginning of the semester. Senior economics majors Kevin Bohm, Sarah Gehring, Jason Shrader, Osama Sabbah and junior economics major Daniel McCurdy took the initiative to form a team.
According to Shrader, many of the schools competing have an entire course built around this contest, spending the entire semester doing their research inside the classroom. Most other schools also had their coaches with them during the presentation.
Viewing Comments 1 - 3 of 3
Carroll Quigley
posted 11/23/08 @ 2:39 PM EST
I wonder if any of the presentations included criticism of central banking, fiat monetary systems, the Austrian school of economics, or anything other than suggestions on how central planners could improve their methods. (Continued…)
Maria Ricard
posted 3/07/09 @ 12:14 AM EST
Good and interesting article, thanks!
Sharon Theodoric
posted 7/04/09 @ 12:29 AM EST
Wait for next writes!
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