The Policy Chair
You are the central bank. One rate, every quarter, a whole economy on the line.
The brief
You chair the central bank. Each quarter the dashboard hands you the economy — inflation, the output gap, jobs, the currency, the debt — and you set the policy rate. Then it moves, with a lag, and your own past calls become the state you have to fix. It starts routine. By the end you'll face a stagflation shock, the zero lower bound, a peg under attack and a debt spiral — often at once. The Taylor rule alone won't save you: you have to know which regime you're in. Every world of the course, live.
How you play it
Set one interest rate each quarter, then live with what the economy does next.
The job: Central Banker — Setting the price of money for an entire country, with instruments that work slowly, data that arrives late, and no way to test the counterfactual.
What a central banker actually does →What you're judged on
Every decision is marked to market server-side. These are the meters that move — run one to zero and the simulation ends there.
What it tests
No trivia — the simulation only asks what the chair actually has to know.
Where you learn this
The Policy Chair is the finale of Macro & Markets, waiting past Level 27 — The Chief Economist's Final. You can sit down right now and find out how much of it you already know; the course is there for the parts you don't.
Play Macro & Markets →Other chairs
The Weekend
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The Desk
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Rotation Day
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The Expert Witness
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The War Room
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