Education has been an important initiative across the entire Federal Reserve System (the Board of Governors and the twelve district Banks). I’m sure you have all know your way around federalreserveeducation.org for resources for your students, have used econlowdown®, or perhaps attended Fed-sponsored professional development or tuned in to a Fed webinar. And while most Federal Reserve banks contribute educational resources and programming for students and in support of teachers, this post will highlight the opportunities that stand out because they involve direct interaction between Federal Reserve Bank employees and students. These programs give the students insight into what it might be like to be an economist.

Federal Reserve “Visits” to the Classroom

Looking for a guest speaker? Two of the Federal Reserve District banks have programs that might help you find one.

• The New York Fed has a “school outreach initiative” available to all schools within the 2^nd District.

• The Richmond Fed has a “Fed Ambassadors” program that, pre-pandemic, offered Fed speakers to visit classrooms in the district. For now, there is a virtual program available by request.

Federal Reserve High School Challenge

Looking to give your students some experience with economic research in a competitive setting? Two of the Federal Reserve Districts hold a “Fed Challenge” for high school students, New York, and Chicago. (All districts offer this competition at the college level) Descriptions are given below along with links to the respective websites.

New York:

• The High School Fed Challenge offers the opportunity for students to develop skills in teamwork, research, data literacy, and analytical writing. Student teams author economics research papers and pursue recognition in the Federal Reserve Bank of New York’s Journal of Future Economists.

Chicago:

• The High School Fed Challenge is an academic competition that provides students grades 9-12 the opportunity to study the U.S. economy through the lens of the U.S. Central Bank. The program is designed to encourage students to learn more about economics and the work of the Federal Open Market Committee. The challenge offers students an enriching experience to think critically about the economy, construct an argument and present their well-crafted research findings to Federal Reserve Bank economists.

The Cleveland Fed Focuses on STEM

The Cleveland Fed stands out with its “immersive” programs, where students are directly engaged with bank employees in an ongoing program.  Furthermore, these programs aim to reach students who might otherwise never think that STEM and economics could be a good fit for them though exposure to people currently working in the field.

The first program, “Girls Make I.T. Better,” offers a series of twelve one-hour long virtual programs over the year exploring STEM careers within the Bank. While the virtual/interactive program is open only to female students from majority-minority high schools within the 4^th District, each module was recorded and is available through the Learning Center Website. (The first ten from this year's program are available through this link.) This allows educators to incorporate these activities into their own classrooms.  If you have students interested for next year (and are in the 4th District), reach out to [email protected].  

The Cleveland Fed is launching a second program, the Summer Research Coding Camp, this summer. Since it is a virtual program, it will be open to students across the country who meet the criteria, not just those in the 4^th District.  The registration link is at the bottom of the description below.

Summer Research Coding Camp is a virtual week-long immersive program for rising high school juniors and seniors. Students will participate in experiential hands-on activities exposing them to real world skills such as data analysis and interpretation while exploring how economists utilize these skills in their careers. The week-long program will culminate in a presentation where students will have the opportunity to provide their findings on one of the following group topics:

• Racial Inequality
• Gender Pay Gap
• Climate Change 

Each group topic will be guided by a Research Analyst serving as a program instructor for one of three topic selections. Students will be placed in separate breakout rooms for the week based on the topic they have selected and under the guidance of their assigned Research Analyst, each group will construct a presentation on their selected topic to present to all program participants, Bank staff, and community members at the conclusion of the week.

When: Monday, July 12th- Friday, July 16th 

Time: 9:30 AM – 11:30 AM

Virtual Platform: WebEx

REGISTER HERE

Register By

July 9, 202111:59 PMET

To help inspire your students about careers in Economics, check out the most recent EconExtra if you haven't done so already.  Maybe a future Nobel Prize winner, Fed President or Chair, or US Treasurer is sitting in your classroom!

About the Author

Beth Tallman

Beth Tallman entered the working world armed with an MBA in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducts student workshops, and develops finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.

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