A group of Pace University students won a major academic competition that tested their economic knowledge earlier this month.
Pace defeated Princeton University, and, with honorable mentions, Bentley University, the University of Chicago and the University of North Carolina at Chapel Hill, to win the 11th annual national College Federal Reserve Challenge. The competition evaluates the teams”™ understanding of the U.S. economy, monetary policymaking and the role of the Federal Reserve System.
Undergraduate teams competed in their local Federal Reserve districts, and the top teams moved on to the finals. The Pace University team placed first in the New York Fed regional competition. The finals were held in Washington, D.C., and Pace”™s win was the first for the New York Fed district in the history of the challenge, according to a university press release announcing the win.
Participating teams analyze economic and financial conditions and formulate a monetary policy recommendation, modeled on the work of the Federal Open Market Committee. Teams in the finals gave 15-minute presentations and answered questions for a panel of senior Federal Reserve officials.
“Our students demonstrated the quality, hard work and commitment to success that characterizes education at Pace,” university President Stephen J. Friedman said in a statement. “This victory graphically illustrates the competitive advantage and professional experience offered to students who choose the Pace Path. The result is a group of students who are more effective at graduation; they understand how to deal with major challenges and achieve long-term career success.”
The Pace University team was composed of economics majors and co-captains Kelsey Berro and Jordan Jhamb, as well as Julia Mikhailova, Katherine Craig, Lauren Price and Daniella Gambino. The team was coached by Mark Weinstock, Gregory Colman and Anna Shostya, who are professors from the Department of Economics in the Dyson College of Arts and Sciences at Pace”™s New York City campus.
