Sacred Heart Students Take on the Fed's College Challenge
Sacred Heart University students recently competed in a challenge put on by the Federal Reserve Bank of New York that is known nationwide as the College Fed Challenge.
The competition provides an opportunity for college students to demonstrate their understanding of macroeconomics, monetary policy and the Fed’s role. The New York Fed calls students’ participation their “most important achievement.”
The SHU students prepared for the competition by conducting research, developing a thesis based on data analysis and employing a teamwork approach to defend their presentation.
The team of five members took the role of monetary policymakers, to analyze current economic and financial conditions, provide a near-term forecast and then recommend a course for monetary policy.
The competition at the New York Fed was comprised of two parts. First, students delivered their 15-minute presentation, which was followed by a question-and-answer segment with New York Fed staff members and economists acting as judges.
“The Fed challenge was a great experience that allowed us to really dive into economic policy and its effect on the greater U.S. and world economies,” said Steven Schilder, a junior majoring in finance and economics.
Sacred Heart’s team, which finished the competition as quarter-finalists, included sophomore Nick White; juniors Emma Stent, Jacob Tomanelli and Schilder; and seniors Wilder Rumpf and Jessica Tavarez.
Bridget Lyons, professor of finance, initiated the University’s involvement in the College Fed Challenge. Khawaja Mamun, chair and associate professor of economics and finance, continued the effort, and now Gerry McCloghry, adjunct instructor of economics, and Jennifer Trudeau, assistant professor of economics, lead it.