Monetary policy is hard to understand, but three students
from Eastern Michigan University made it look easy by winning
second place in the College Federal Challenge, a competition
sponsored by the Chicago Federal Reserve, Oct. 31 in Chicago.
Economic majors Gary Campbell, of Toronto; Monica Long,
of Marshall; and Patricia Cox, of Gibralter; went against
13 teams for the chance to compete at the National Inter-District
College Federal Challenge in Washington, D.C.
“I was extremely pleased with the team’s second
place finish. This was our first year in competition
and we had a late start in preparing,” said David
Crary, associate professor of economics, and the team coach. “We
had our first team meeting just five weeks before the competition,
but Gary, Monica and Patricia worked very hard to prepare
and performed very well.”
Teams researched existing financial, international and
economic conditions, and made recommendations for the national
monetary policy before a panel of judges. Students were
judged on their understanding of monetary policy, responses
to questions, research and presentations.
“With an earlier start next year, I hope to have
EMU represented in the National competition in Washington,” said
Crary.
The Chicago Federal Reserve sponsors the annual competition
as a way to educate students on how the government creates
policies that make a strong and stable economy.
Competing against EMU were Northwestern University, which
came in first; Ball State University, Central Michigan
University, Indiana/Purdue University at Fort Wayne, Marquette
University, Michigan State University, the University of
Chicago, the University of Iowa, Notre Dame, the University
of Wisconsin-Oshkosh, the University of Wisconsin- Parkside
and Western Illinois University.
