Dartmouth College won the 17th annual national College Fed Challenge on Friday, a competition that encourages students to learn about the U.S. economy, monetary policymaking, and the role of the Federal Reserve System. The team, from Hanover, New Hampshire, represented the Boston Federal Reserve District and included Ayan Agarwal, Utsav Jalen, Kira Koehler, Tench Coxe, and Zach Olson. The team’s advisers were Elisabeth Curtis and C. Frank Zarnowski.

The College Fed Challenge was held virtually in 2020. Eighty five schools from across the nation submitted video presentations or participated in local virtual competitions starting on October 9, 2020. Eighteen semi-finalist teams participated in question-and-answer sessions held during the week of November 9, and six finalists were selected and their presentations and questions and answers reviewed to determine the winners. The other national finalists were second place: St. Lawrence University, third place: Princeton University, with honorable mentions for Miami University, Michigan State University, and Virginia Commonwealth University. College Fed Challenge is a team competition for undergraduate students. Teams analyze economic and financial conditions and formulate a monetary policy recommendation, modeling the Federal Open Market Committee.

“Teams at all levels of the competition demonstrated exceptionally high levels of commitment, determination, and motivation,” said Federal Reserve Board Chair Jerome H. Powell. “I am hopeful that learning about how monetary policy fosters a strong economy might inspire further study and perhaps even future careers in the fields of economics and finance.”

Teams were evaluated on economic analysis, responses to judges’ questions, teamwork, and presentation. The judges for the final round of the competition were: Antulio Bomfim, Special Adviser to the Board, Monetary Affairs; Ellen Meade, Senior Adviser, Monetary Affairs and Special Adviser to Vice Chair Richard Clarida; Thomas Lubik, Senior Advisor, Economic Research and Policy, Federal Reserve Bank of Richmond; and Maggie Sklar, Senior Policy Advisor and Director of International Engagement, Financial Markets Group, Federal Reserve Bank of Chicago.

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