Using the Fed Challenge to Enrich the Teaching of a Money and Banking Class

Abstract

We describe the Fed Challenge Project, an experiential learning project for a Money and Banking course. In this project, modeled after the College Fed Challenge Competition, student teams present on the current state of the economy and create and defend monetary policy recommendations. The project gives students an opportunity to enhance their knowledge of monetary policy and develop important economic skills including data analysis and visualization, critical thinking, research, communication, and collaboration. Three elements of the project—relevancy of content, a combination of individual and collaborative work, and the inclusion of common and creative aspects—combine to enhance learning objectives.