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Fiscal Challenge: An Experiential Exercise in Policy Making

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  • Mike Aguilar
  • Daniel Soques

Abstract

In this article, the authors introduce a pedagogical innovation that is designed to enhance students' understanding of fiscal policy in general, and the national debt and deficit in particular. The innovation leverages the educational advantages offered through a competitive environment by pitting teams of students against one another with the goal of devising the best plan to put the United States on a sustainable fiscal path. The current incarnation of the competition, which is referred to as the Fiscal Challenge, confronts the students with the specific task of stabilizing the U.S. Federal Debt-to-GDP ratio. The Fiscal Challenge currently is being implemented as a nationwide, inter-university, extracurricular activity; however, it can easily be customized to fit within a traditional classroom setting.

Suggested Citation

  • Mike Aguilar & Daniel Soques, 2015. "Fiscal Challenge: An Experiential Exercise in Policy Making," The Journal of Economic Education, Taylor & Francis Journals, vol. 46(3), pages 285-299, July.
    • Handle: RePEc:taf:jeduce:v:46:y:2015:i:3:p:285-299
    DOI: 10.1080/00220485.2015.1040179
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    References listed on IDEAS

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    1. Thomas Herndon & Michael Ash & Robert Pollin, 2014. "Does high public debt consistently stifle economic growth? A critique of Reinhart and Rogoff," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 38(2), pages 257-279.
    2. Atish R. Ghosh & Jun I. Kim & Enrique G. Mendoza & Jonathan D. Ostry & Mahvash S. Qureshi, 2013. "Fiscal Fatigue, Fiscal Space and Debt Sustainability in Advanced Economies," Economic Journal, Royal Economic Society, vol. 0, pages 4-30, February.
    3. Dean Croushore, 2015. "Teaching an Economics Capstone Course Based on Current Issues in Monetary Policy," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 41(4), pages 504-512, September.
    4. Carmen M. Reinhart & Kenneth S. Rogoff, 2010. "Growth in a Time of Debt," American Economic Review, American Economic Association, vol. 100(2), pages 573-578, May.
    5. W. Lee Hansen, 2001. "Expected Proficiencies for Undergraduate Economics Majors," The Journal of Economic Education, Taylor & Francis Journals, vol. 32(3), pages 231-242, January.
    6. Checherita-Westphal, Cristina & Rother, Philipp, 2012. "The impact of high government debt on economic growth and its channels: An empirical investigation for the euro area," European Economic Review, Elsevier, vol. 56(7), pages 1392-1405.
    7. Mike Aguilar & Daniel Soques, 2013. "MacroJournal—Turning Students into Practitioners," The Journal of Economic Education, Taylor & Francis Journals, vol. 44(3), pages 230-237, September.
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    Cited by:

    1. Catherine Y. Co & Jonna Holland, 2019. "Teaching International Microenterprise Development: An Interdisciplinary Experiential Learning Approach," Journal of Economics Teaching, Journal of Economics Teaching, vol. 4(1), pages 27-39, May.
    2. Sarah A. Jacobson & Luyao Zhang & Jiasheng Zhu, 2022. "The Right Tool for the Job: Matching Active Learning Techniques to Learning Objectives," Papers 2205.03393, arXiv.org, revised Jul 2022.

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