MONDAY, MARCH 11, 2002

Federal Reserve Bank of New York Launches College Fed Challenge

NYU Stern School wins over teams from Barnard/Columbia, Pace, and SUNY Buffalo

New York -- A team of five students from NYU’s Stern School of Business placed first in the Federal Reserve Bank of New York’s College Fed Challenge. In this competition for undergraduate business and economics students, each team makes a 15-minute presentation in which it analyzes current economic conditions and recommends how the Fed should respond. The judging panel, made up of two senior Fed officials, then engages the team in a 15-minute Q & A session after which the performance is scored.

This is the first year the New York Fed has sponsored a College Fed Challenge in which four colleges/universities from the Second Federal Reserve District were invited to enter. In 1995, the New York Fed launched the Fed Challenge for high school students to promote greater understanding of the role of the Federal Reserve in the U.S. economy. At present, over two hundred fifty high school teams participate in seven Federal Reserve districts. Several years ago, the Federal Reserve Bank of Richmond initiated a college version of the program.

The NYU Stern School team was made up of Misha Gupta, Yoni Hornik, Gaurav Kumar, Zavi Patel, and Michael Punzalan. Professor Paul Wachtel acted as faculty advisor.

Contact: Linda Ricci
(212) 720-6143.