December 01, 2016
Federal Reserve announces College Fed Challenge winners
For immediate release
Rutgers University won the 13th annual national College Fed Challenge on Thursday, a competition that encourages students to learn about the U.S. economy, monetary policymaking, and the role of the Federal Reserve System. The team, from New Brunswick, N.J., represented the New York Federal Reserve District and included Karn Dalal, Ali Haider Ismail, Andrew Lee, Shivram Viswanathan, and Ashton W. Welles. Jeffrey Rubin was the team's faculty adviser.
The finals were held in the Board Room at the Board of Governors as the capstone to five district competitions held around the country. The other national finalists were second place: Dartmouth College, with honorable mentions for Appalachian State University, Princeton University, and The University of Chicago. College Fed Challenge is a team competition for undergraduate students. Teams analyze economic and financial conditions and formulate a monetary policy recommendation, modeling the Federal Open Market Committee.
"Preparation for the Fed Challenge broadens students' understanding of the workings of the U.S. economy and the Federal Reserve," said Federal Reserve Board Chair Janet L. Yellen. "The competition provides a forum for participants to apply their knowledge in the areas of economics and finance and is intended to promote further study and perhaps even careers in these fields."
Teams competing in the College Fed Challenge finals gave 15-minute presentations and answered questions for a panel of judges. Teams were evaluated on economic analysis, responses to judges' questions, teamwork, and presentation. The judges were Ellen Meade, senior adviser in the Division of Monetary Affairs at the Federal Reserve Board; Argia Sbordone, vice president in the macroeconomic and monetary studies function of the Federal Reserve Bank of New York; and William A. Strauss, senior economist and economic advisor in the economic research department at the Federal Reserve Bank of Chicago. The teams competed in their local Reserve Bank Districts, and the top teams moved on to the finals in Washington, D.C.
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