Fed Champs

Economics has long been neglected in high school curriculums -- with unfortunate results for public policy and family budgets. Virginia has been making progress, though, in part thanks to the state's increased appreciation for the importance of economic education.

Several local groups have been leading the charge for years, including the Virginia Council on Economic Education and the Powell Center for Economic Literacy. The Federal Reserve Bank of Richmond has always been at the forefront of efforts to teach young people about markets and money. Its annual Fed Challenge gives high school students an opportunity to explore the intricacies of banking and monetary policy.

Teams from across the Richmond Fed's region -- which includes Virginia, Maryland, North Carolina, South Carolina, the District of Columbia, and most of West Virginia -- make detailed presentations to Fed officials about economic conditions and then answer questions from the professionals. The events of the past year made this year's Challenge especially challenging.

So we're pleased to report that the regional champions this year are a hometown team -- from Richmond's Collegiate School, which topped tough competition from Chantilly High School in Northern Virginia and Millbrook High School in Raleigh. Next month, Collegiate will travel to Fed headquarters in Washington to take on teams from around the country. If past is precedent, Fed Chairman Ben Bernanke will likely make an appearance.

This year's champs, coached by economics teacher Rob Wedge, are Margaret Barton, Alex Daniel, Randall Drumheller, Harrison Roday, Morgan Tarrant, Shannon O'Donnell, and Mason Rayner. Their accomplishment makes us proud and optimistic. We'd say that even if a certain team member didn't share his last name with one of our editorial writers. Go Cougars!