PLEASANTVILLE, N.Y. -- Pace University won the 11th annual national College Federal Reserve Challenge, a competition that tests students’ understanding of the U.S. economy, monetary policymaking and the role of the Federal Reserve System on Tuesday, Dec. 3.
The finals were held in Washington, D.C., as the capstone to five district competitions held around the country. Undergraduate teams competed in their local Reserve Bank Districts, and top teams moved on to the finals. The other national finalists were second-place Princeton University and, with honorable mentions, Bentley University, the University of Chicago and the University of North Carolina at Chapel Hill.
The Pace University team had placed first in the semifinal New York regional competition, ahead of 35 other teams in the region. Pace’s win was the first for the NY Fed District in the history of the College Fed Challenge.
The Pace team represented the New York Federal Reserve District and included Dyson College economics majors Kelsey Berro (co-captain), Jordan Jhamb (co-captain), Julia Mikhailova, Katherine Craig, Lauren Price and Daniella Gambino.
The team was coached by economics professors Mark Weinstock, Gregory Colman and Anna Shostya, faculty members from the department of economics in the Dyson College of Arts and Sciences at Pace’s New York City campus. Berro and her professors have been part of winning College Fed Challenge teams since 2012, when Pace first won the New York District challenge and advanced to the national level.
"Students' participation in the Fed Challenge adds to their understanding of the economy and the Federal Reserve's role and, I hope, spurs some students to pursue further study of economics and finance," said Federal Reserve Board Chair Janet L. Yellen.
Pace University President Stephen J. Friedman also commented on the students accomplishments.
“Our students demonstrated the quality, hard work and commitment to success that characterizes education at Pace,” he said. “This victory graphically illustrates the competitive advantage and professional experience offered to students who choose the Pace Path."