Sunday, June 12, 2011

We Are the Champions

Time to gloat, yes? This spring I mentioned being involved in the "Fed Challenge" team at Vassar College. It was in the fall when one of my professors emailed me about this competition. He knew I was interested in whatever "extracurricular" economics events there were available (I have many varied and exciting interests, I swear). So, I sent out some emails, talked to some friends, and next thing you know, we've got a group of kids meeting every three or so weeks to discuss the "Fed Challenge." The Challenge itself takes place next fall. Our goal as a team will be to come up with a succinct presentation that captures our understanding of the operations of the Federal Reserve, its history, the current macroeconomic conditions, and a recommendation for monetary policy and interest rates. This is a hefty task, so naturally we've been preparing for a while. As something of a warm-up exercise, one of our professors suggested we enter another competition: The St. Louis Federal Reserve video competition. The topic at hand was, "Why should the central bank be independent?" The video had to be under 5 minutes and be understandable at a high school level. Of course, we finished our video, and I sent it in (albeit, 5 minutes late). Time went by, and we were fairly certain he had hit the end of the road. Lo and behold, I received an email a couple days ago, and to sum up the contents:

Vassar College is #1.

We also won a $1,000 savings bond for the school, so you might say only economics majors give back, too! Here's the video again:

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