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The finals were held in Washington D.C. as the capstone to five district competitions held around the country. Undergraduate teams from across the country first competed in their local Reserve Bank Districts, and top teams moved on to the finals. Last month, the Pace University team won New York’s regional competition for the fourth year in a row. Pace’s 2014 national win was the first for the NY Fed District in the history of the College Fed Challenge and the school now becomes the first in the District to repeat as champions.
“Once again, our students demonstrated the quality, hard work and commitment to success that characterizes a Pace University education,” Pace University President Stephen J. Friedman said. “This victory highlights Pace’s unique commitment to experiential learning and professional experience, giving our students a competitive advantage both during their college years and as they enter into highly competitive professional fields.”
"Preparation for Fed Challenge expands students' knowledge of the U.S. economy, monetary policy, and the work of the Federal Reserve," said Federal Reserve Board Chair Janet L. Yellen. "The competition is also intended to foster interest in economics and finance as fields for advanced study and careers."
All seven members of this year’s Pace team are Economics/Business Economics students in Pace’s Dyson College of Arts and Sciences. The team members are Katherine Craig, Daniella Gambino, Omar Habib, Jozef Lampa, Melissa Navas, Jonathan Okane and Yuliya Palianok; Professor Greg Colman served as the team’s advisor.
Participating teams analyze economic and financial conditions and formulate a monetary policy recommendation, modeled on the work of the Federal Open Market Committee. Teams competing in the finals gave presentations and answered questions for a panel of senior Federal Reserve officials.
