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Business Students Take On The Fed Challenge

Dec 12, 2016

Business Students Take On The Fed Challenge

Students from St. Thomas Aquinas College competed in the District II College Fed Challenge on November 3. The experience proved stimulating on both an economic and intellectual level.

“This competition put us in the real world and gave us a chance to talk about real-world things, not just read about them in class,” said Patricia Nertsen, an actuarial science major who participated in the program. “It gave me a better understanding of everything I’ve learned over the past four years.”

The College Fed Challenge is a competition designed to bring real-world economics into the classroom. Teams play the role of monetary policymakers by analyzing economic conditions and recommending a course for monetary policy. Fed Challenge participants develop skills - the ability to think analytically, to make effective presentations, to work as a team, to think on their feet - that are valuable in both their academic and professional careers. Schools in the Federal Reserve's Second District are eligible to compete.

“This course requires students not only to learn about the inter-workings of the U.S. economy and monetary policy, but also to work in a team environment, conduct independent research, and develop presentation and communication skills,” said Dr. Meghan Mihal, Associate Professor of Economics. “We are extremely proud of our students and their participation in this event.”

St. Thomas Aquinas College students, including Edward Brown, Patricia Nersten, Victoria Perotta and Pierfrancesco Simonetti, competed against other teams in District II which includes all of New York, Northern New Jersey, and Western Connecticut. Their presentation provided an analysis on the current economic environment, formulated economic forecasts, and provided a policy recommendation. While they did not advance to the next round, teams who did advanced to a national competition in Washington, D.C. this December.

About the Competition

The College Fed Challenge is an unforgettable experience in economic analysis, monetary policy decision-making, public speaking and teamwork. To compete, teams of three to five students give a presentation on the economy and participate in a Q&A with the judges.

Judges are New York Fed economists and staff who are experts on economics and monetary policy. The College Fed Challenge is designed to meet the following goals: to increase understanding of macroeconomics and the Federal Reserve's role in setting U.S. monetary policy and ensuring financial stability; to promote interest in economics as a subject for study and the basis for a career; and to foster a cooperative relationship among students, teachers and the New York Fed. To learn more visit www.newyorkfed.org/education/fedchallenge_college

 

Victoria Perotta, Edward Brown, Patricia Nersten and Pierfrancesco Simonetti

Students from St. Thomas Aquinas College competed in the District II College Fed Challenge on November 3. The experience proved stimulating on both an economic and intellectual level.

“This competition put us in the real world and gave us a chance to talk about real-world things, not just read about them in class,” said Patricia Nertsen, an actuarial science major who participated in the program. “It gave me a better understanding of everything I’ve learned over the past four years.”

The College Fed Challenge is a competition designed to bring real-world economics into the classroom. Teams play the role of monetary policymakers by analyzing economic conditions and recommending a course for monetary policy. Fed Challenge participants develop skills - the ability to think analytically, to make effective presentations, to work as a team, to think on their feet - that are valuable in both their academic and professional careers. Schools in the Federal Reserve's Second District are eligible to compete.

“This course requires students not only to learn about the inter-workings of the U.S. economy and monetary policy, but also to work in a team environment, conduct independent research, and develop presentation and communication skills,” said Dr. Meghan Mihal, Associate Professor of Economics. “We are extremely proud of our students and their participation in this event.”

St. Thomas Aquinas College students, including Edward Brown, Patricia Nersten, Victoria Perotta and Pierfrancesco Simonetti, competed against other teams in District II which includes all of New York, Northern New Jersey, and Western Connecticut. Their presentation provided an analysis on the current economic environment, formulated economic forecasts, and provided a policy recommendation. While they did not advance to the next round, teams who did advanced to a national competition in Washington, D.C. this December.

About the Competition

The College Fed Challenge is an unforgettable experience in economic analysis, monetary policy decision-making, public speaking and teamwork. To compete, teams of three to five students give a presentation on the economy and participate in a Q&A with the judges.

Judges are New York Fed economists and staff who are experts on economics and monetary policy. The College Fed Challenge is designed to meet the following goals: to increase understanding of macroeconomics and the Federal Reserve's role in setting U.S. monetary policy and ensuring financial stability; to promote interest in economics as a subject for study and the basis for a career; and to foster a cooperative relationship among students, teachers and the New York Fed. To learn more visit www.newyorkfed.org/education/fedchallenge_college

 

About St. Thomas Aquinas College

St. Thomas Aquinas College is an independent liberal arts college located in Sparkill, Rockland County, NY which provides education at the undergraduate and graduate levels.  The College’s 2,800 full and part time students can choose from more than 100 different majors, minors, specializations, and dual degree programs across three schools: Arts & Sciences, Business, and Education. The College was recognized by U.S. News & World Report in the Top-Tier for Regional Universities, by Colleges of Distinction in both its New York and Catholic editions and is included on the Military Friendly Schools® listing.  St. Thomas Aquinas College is accredited by the Middle States Association of Colleges and Schools; its School of Education is accredited by National Council for Accreditation of Teacher Education (NCATE); and its School of Business is accredited by the International Assemble for Collegiate Business Education (IACBE).  For more information, visit www.stac.edu.