Rise to the Challenge
Challenge accepted. Much like Barney Stinson, the Pace University team once again had a legendary performance at the College Fed Challenge.
In 2012, the Pace Economics team won first place at the 2012 New York Federal Reserve Bank’s College Fed Challenge and went on to place third in the nation, where they met Chairman of the Federal Reserve Ben Bernanke.
This year, the team is staying hungry! On Monday, November 18, after making it to the semi-finals, the Pace team once again placed first in the District at the 2013 College Fed Challenge, a team competition for undergraduate college students inspired by the working of the Federal Open Market Committee, and advanced to Nationals.
“According to the organizers of the competition, this year it was the toughest one in the history of the Challenge, with 36 schools competing, including Columbia, NYU, Rutgers, Baruch, and other elite schools,” says Pace Economics Professor and co-adviser Anna Shostya, PhD. “Our team was terrific—they nailed every single question and demonstrated a superior knowledge of the U.S. economy, monetary policy, and central banking.”
The team, Shostya says, was several levels above the other finalist and the judges were so impressed that they made a decision almost on the spot.
“Their terrific success is a result of the endless hours of study and practice put forth by the students, as well as an enormous amount of time and effort from their main adviser, Professor Mark Weinstock,” says Shostya, who assisted Weinstock along with Pace Professor and co-adviser Gregory Colman, PhD.
Team captain Kelsey Berro echoes Shostya's comments. "The professors are with us every step of the way! They give up their weeknights and weekends to help us train and are extremely involved and supportive," she says.
Berro also credits the Fed Challenge with her success in college and her professional work.
"The Fed Challenge has defined my college experience here at Pace University," she says. "The program teaches you how to work hard and gives you connections that will last a lifetime. Everything I have learned is applicable in someway or another. The competition enables you to be able to talk with professionals about the current state of the economy and financial topics as well the confidence to express your opinion using facts and knowledge to back your argument. This ability to speak the 'language of economics' helps you tremendously in interviews and professional work."
Berro, along with teammates Lauren Price, Jordan Jhamb, Kevin Charles Hankins, and Yuliya Mikhailova will now compete in nationals on December 2 in Washington D.C., where they’ll go head-to-head against some of the country’s best schools including Harvard and UPenn.
"The team is already winners and if we place 1st or 2nd that will be icing on the cake," Berro says.
Best of luck to the team at Nationals and stay tuned for more info in the coming weeks!
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Be a voice for suicide prevention and register for the Out of the Darkness Campus Walk to raise funds for the American Foundation for Suicide Prevention on Friday, April 28. And stop by the first meeting on Monday, February 6.
Walk to Fight Suicide
You deserve a breather. Ease into the end of the semester with spa nights, a destressing seminar, a day on the beach, and more as part of 50 Days and 50 Nights.
Say Sp-ahhh (PLV)
Don’t miss an unforgettable night of entertainment, dinner, and a celebration of outstanding student leaders at the Setter Leadership Awards Gala on May 2.
A Gala to Set the Pace (NYC)