It was a really good experience overall. At the beginning it was really hard to figure out and conceptualize how we would create a budget. But once we started doing it, you just kind of learn as you go and you start reading online. You just figure out as your doing it.
I would say that knowing the caliber of these judges pushed us to know our stuff better. In that sense it was an even greater learning experience.
It was really interesting to be able to get hands-on with data and really comb through it. That’s something you don’t get as much experience with in classes. It was also nice working with a project over a longer term...with larger scale data and more depth.
The Fiscal Challenge was a tremendous learning experience for our students. The competition poses a crucial question: what policy options are available to stabilize the nation’s long term fiscal outlook? In addressing the question, students learn about the Federal Government’s budget and evaluate the tradeoffs between raising tax revenues and cutting government programs. There are no easy answers available, but with effort and application, students can together a well-considered proposal for fiscal stability. In doing so, regardless of the outcome of the competition, student participants in the Fiscal Challenge come out as winners.
Participating in the Fiscal Challenge was simply a great learning experience. Putting the proposal together taught me a lot about different policy areas that I never thought I would become knowledgable about. Furthermore the chance to defend and discuss the proposal in front of the expert judges during the final was very exciting and challenging.
The most interesting thing I learned was refining my basic understanding of macroeconomics and learning exactly how certain policy proposals would affect the economy in the short and long term.