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April 29, 2008
Federal Reserve Simulation
In my intermediate macroeconomics course, the final project is a simulation of an FOMC meeting where members of the class play the roles of Fed officials. They did exceptionally well. The presentations and discussion were excellent.
My class voted 9 to 7 to cut by another quarter point. (The 7 wanting to hold rates steady)
As far as I can remember, my class has never been wrong, and also as far as I can remember, when the class predicts dissent, there usually, if not always, is (though never as much in the real vote).
It's an unscientific indicator, to be sure. But it is very rewarding to see the students take it so seriously and really learn about how the Fed works.
The real meeting, of course, is tomorrow. More on that later.
Posted by William Polley at April 29, 2008 06:09 PM
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