A program run by the Federal Reserve Bank to encourage the study of economics. The competition is open to high school students all around the United States. The competition consists of giving a group presentation to a panel of judges on the state of the economy and recommending fiscal policy for the upcoming year. There is no set presentation format other than requiring five members to participate. The most common way of presenting information is creating a faux board meeting of the Federal Reserve but other formats such as musicals and newspaper conferences have been entered.
Teams advance through several rounds of competition. The first round pits teams from the same district together. These districts correspond to the 12 Federal Reserve Banks around the United States. Teams then advance to the semi final round typically consisting of six teams per district. Once those teams have been judged each district sends its top team to compete in the national competition held in Washington, DC. Winners of the national competition are awarded sizeable scholarships both to individuals and in the form of grants to the schools they represent.