Beavercreek High School Team Wins First Round Of Fed Challenge
A team of five students from Beavercreek High School in Beavercreek, Ohio, won the first round of Fed Challenge, an economics competition sponsored by the Federal Reserve Bank of Cleveland. The competition took place at the Reserve Bank's Cincinnati office. The team will now advance to the District finals, which will be held on April 25 in Cleveland. At the District level, the Beavercreek students will be competing against the winners of upcoming regional competitions being held at the Reserve Bank's Pittsburgh and Cleveland offices.
Teacher (Ms.) Sandy Mangen coached the winning team members: Ashleigh Baggett, Jon Chachula, Phillip North, Riaz Rahman, and Jason Snead.
The students competed against some of their classmates, who made up a second Beavercreek team. They also competed against teams from Bethel High School in Tipp City, Ohio, and Walnut Hills High School in Cincinnati, Ohio.
The winning team at the District level will receive an all-expense-paid trip to Washington, D.C., on May 14-16 to compete against winning teams from other Reserve Districts. District and national winners will receive scholarships and grants, courtesy of Citibank, N.A.
Fed Challenge is designed to promote better understanding of the nation's central bank, the forces influencing U.S. and international economic conditions, and the nuances involved in making monetary policy decisions. In addition, the competition is designed to help students develop research, presentation, and critical-thinking skills; to foster a closer relationship between high schools and the Federal Reserve Banks; and to promote interest in economics as a subject for undergraduate and postgraduate study.
Each Fed Challenge team makes a short presentation that includes an analysis of the current state of the economy and a recommendation as to what monetary policy action the Federal Open Market Committee (the Federal Reserve's monetary policymaking body) should take. Federal Reserve Bank officials judge the local competitions, while FOMC members -- Federal Reserve Governors and Reserve Bank presidents -- judge the National Finals in D.C.