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.