Economics Club members to participate in Fed Challenge

%28Left+to+right%29+Junior+Jessica+Tao%2C+sophomore+Michael+Wang%2C+business+teacher+Paul+Clayton%2C+sophomore+Brendan+Yap%2C+senior+Kevin+Mi+and+junior+Joe+Philleo+%28not+pictured%29+will+participate+in+the+2015+Fed+Challenge.+Participating+teams+of+three+to+five+students+will+offer+15-minute+presentations.+DARA+LEVY+%2F+PHOTO

(Left to right) Junior Jessica Tao, sophomore Michael Wang, business teacher Paul Clayton, sophomore Brendan Yap, senior Kevin Mi and junior Joe Philleo (not pictured) will participate in the 2015 Fed Challenge. Participating teams of three to five students will offer 15-minute presentations. DARA LEVY / PHOTO

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On April 22, five students will compete in the High School Fed Challenge at the Federal Reserve Bank of Chicago, according to Paul Clayton, Fed team sponsor and business teacher. Clayton said the competition requires students to analyze monetary policy.

(Left to right) Junior Jessica Tao, sophomore Michael Wang, business teacher Paul Clayton, sophomore Brendan Yap, senior Kevin Mi and junior Joe Philleo (not pictured) will participate in the 2015 Fed Challenge. Participating teams of three to five students will offer 15-minute presentations. DARA LEVY / PHOTO
(Left to right) Junior Jessica Tao, sophomore Michael Wang, business teacher Paul Clayton, sophomore Brendan Yap, senior Kevin Mi and junior Joe Philleo (not pictured) will participate in the 2015 Fed Challenge. Participating teams of three to five students will offer 15-minute presentations. DARA LEVY / PHOTO

“I certainly enjoy helping them prepare for it and learn about the economy, and it’s fun to get to go to the actual Federal Reserve Bank,” Clayton said.

The Fed team—which consists of sophomores Michael Wang and Brendan Yap, juniors Jessica Tao and Joe Philleo and senior Kevin Mi—will give a 15-minute presentation to three judges at the competition.

However, the most difficult part is the questioning period afterwards, Wang, Yap and Clayton said.

“The most challenging thing is probably when we have to defend our presentation in the Q and A session in front of the judges,” Yap said. “They can ask us about anything…so we have to be aware and stay on our toes.”

Screen Shot 2015-03-17 at 2.01.35 PMWang said this competition differs from the normal Econ Challenge.

“The Econ Challenge tests us over microeconomic theory, macroeconomic theory and general current events whereas the Fed Challenge only tests us on what the Fed can do and the U.S. economy,” Wang said.

Clayton said his goal is for students to learn more about the economy.

“Of course you always like to win, but the point really isn’t about winning, it’s learning,” he said.

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