Academic competition

Taking the ‘Fed Challenge’

“What is your assessment of the outlook for growth and the labor market?”

“What effect does the rise in oil prices have on your view as to the economic outlook and what are the monetary policy implications?”

“If Congress and the White House reach agreement on significant fiscal consolidation what would be the implications for the outlook and for monetary policy?”

Cal-Mum High School’s team of economists are well prepared to answer these and any other high level economics questions that come their way at the Fed Challenge semifinal and championship competition.

The all-female Fed Challenge team of Nicole Castronovo, Angie Carson, Katherine Feathers, Crystal Jones and Daphne Limner will travel to the Federal Reserve Bank in New York City to compete in the April 24 tournament where they will face teams from New York, New Jersey and Connecticut.

All of the team members are students in Brian McQuillan’s Advanced Placement Economics class. They competed in the Upstate Regional Division of the District 2 Fed Challenge competition on March 22 and finished in first place, earning them the opportunity to compete in the semifinal and championship rounds in New York City.

Cal-Mum competed for the first place win against teams from much larger suburban schools; East Aurora, Webster-Thomas and Pittsford-Mendon. Team members say they were not intimidated by their competition and as soon as the questions got underway, they realized that what McQuillan had taught in class well prepared them for the competition.

“We were very well prepared. We knew the other teams were from larger schools but as soon as the competition started, we realized that Mr. McQuillan had prepared us very well and we weren’t intimidated. He’s a very good teacher,” Nicole Castronovo explained.

The students say they really enjoy their AP Economics class. Some of them plan to further their studies in college. Crystal Jones plans to study international relations and economics in college. Daphne Limner likes studying economics because it is applicable to real life.

Castonovo wanted to be part of the Fed Challenge team because she likes being able to apply the concepts learned in class in a competitive setting. Angie Carson also likes participating in the competition as a way of demonstrating what’s learned in class.

Katherine Feathers says economics just makes sense to her and she wanted participate in something above the class time.

This is the second year in a row that Cal-Mum will be representing all Upstate New York schools at the District 2 competition. In 2007 Cal-Mum’s team, coached by McQuillan, won the Fed Challenge Championship.