College Fed Challenge

Fed challenge group photo

The application for the 2021 Penn College Fed Challenge is open now until Friday, April 16 at 11:59 PM. The link to the application is available here:

Applicants will be invited for a brief interview conducted during the week of 4/19/21. Applicants will be asked to verbally present a brief five minute presentation summarizing the Fed’s response to COVID-19 since August 2020. After the presentation, Liza and Brian will follow up with ten minutes of questions related to the Fed and macroeconomics. Some question topics we may touch upon are posted on this link: We aim to conclude the recruitment process by 4/24/21.

The Penn College Fed Challenge promotes economics literacy both within the team and in our student community by creating opportunities for students to participate in the National College Fed Challenge, a national economics competition sponsored by the Federal Reserve Bank.

The National College Fed Challenge is a competition for undergraduate students in which teams of five analyze and present suggestions for macroeconomic policy. The competition consists of two rounds. In the first round, teams of up to five students present a fifteen minute speech on the state of the macroeconomy, current trends, and suggestions for monetary policy at the local Fed. Following the speech, the team is questioned for fifteen minutes by the representatives of the Fed that are judging the competition. The best team from the first round advances to the second round at the Federal Reserve Board of Governors. More information about the competition is available here:

The Fed Challenge is an excellent opportunity for students with economics backgrounds to learn about the functions of the Fed, how the Fed analyzes economic indicators, and how it makes economic forecasts.

We are proud to announce that the Penn team qualified for the national championships at the Board of Governors in 2013, 2019, and 2020. We are incredibly thankful for the faculty at Penn's Economics department for helping us with our preparation, their constant support, and their enthusiasm.


Team captains for 2021:
Elizaveta Brover:, Brian Lee:

Team members' names for 2020:
Elizaveta Brover, Brian Lee, Jessica Mixon, Renan Muta, Isaac Tham, Arnav Joshi

Team members' names for 2019:
Elizaveta Brover, Justin Guo, Renan Muta, Aman Virdi, Catherine Wang