College Fed Challenge Team Makes Semifinals
A student team from SUNY Oneonta will compete in the semifinal round of the 2013 College Fed Challenge at the Federal Reserve Bank of New York on Monday, Nov. 18.
The College Fed Challenge is a team competition for undergraduate college students. Inspired by the working of the Federal Open Market Committee, the competition requires that students work as a team to research and analyze current economic data, develop a forecast and review potential future economic risks, and develop a presentation and answer questions on a recommendation for monetary policy.
Team members Angie Aldana, Andrew Boylan, Mike Coleman, Matt Elliott, Conor Mcelhearn, Abby Renneman, Kyle Sisco, Dan Stern and Jack Tenke traveled to John Jay College for the first round of the competition on Nov. 5. Teams from 36 schools in the Second District competed in the first round, and the SUNY Oneonta contingent bested teams from the other five schools in its competition bracket to advance to the semifinals.
The theme of the team’s presentation was “To taper or not to taper? That is the question.” The students analyzed whether economic conditions warrant the Fed reducing its purchases of Treasury Bonds and Mortgage-Backed Securities. Associate Professor of Economics David Ring is the faculty adviser for the team.
“The College Fed Challenge is an exciting opportunity for our students to gain a greater understanding of how the economy works,” said Dean of Economics and Business David Yen. “Students prepare all semester for the competition, gaining valuable research skills and the ability to think on their feet. We’re proud of our team’s success and will be rooting for them as they move into the next round of the competition.”
Earlier this year, SUNY Oneonta founded its School of Economics and Business to give greater focus to disciplines and careers in those areas. The school is accredited by AACSB International—the Association to Advance Collegiate Schools of Business, a designation achieved by fewer than 5 percent of business schools around the world. In addition to its three undergraduate majors—Professional Accounting, Business Economics and Economics—SUNY Oneonta’s School of Economics and Business offers two minors, four concentrations and seven cooperative programs.