NEWS RELEASE: Pace University Federal Reserve Challenge Team Tops in Regional Competition and Third in Country

NEWS RELEASE: Pace University Federal Reserve Challenge Team Tops in Regional Competition and Third in Country

Pace University Federal Reserve Challenge Team Came Out on Top in the Regional Competition and Third in the Country

Team also won the Lloyd Bromberg Teamwork Award

NEW YORK, NY, December 14, 2012 – A Pace University team of undergraduate students competing in the 2012 College Federal Reserve Challenge won first place in the final round of the New York Federal Reserve Bank’s competition in November and third place in the national round. The team beat 29 other colleges in three rounds of competition, including Hamilton, Cornell, and New York University. The team also received the Lloyd Bromberg Teamwork Award for team coordination and presentation excellence.

Pace business, economics and finance majors Nashrah Ahmed, William Hellander, Daniel Boutarel, Kelsey Berrio, and Sonia Sternick participated in the challenge and are the first Pace team to win the regional competition. The team went on to compete in the nationals in Washington D.C. and were ranked 3rd in the country out of 135 colleges and universities.

The team was coached by three Pace economics professors. Mark Weinstock, Gregory Colman and Anna Shostya worked with them for hundreds of hours in preparation for the competition. The students put in even more time.

The Pace team is an award-winning group, having frequently finished in the finals and semi-finals over the last 10 years. Previous team members have gone on to achieve high levels of academic and career success. Team participation at Pace is available as a 3 credit, writing enhanced economics elective. All majors can participate.

The College Federal Reserve Challenge is a national academic competition consisting of a 15 -minute economic presentation followed by a 15 -minute question and answer period. During the Q&A, students address questions about finance, economics, banking, and monetary policy administered by a panel of professional economists who work at the New York Fed. The competition requires that students work as a team to research and analyze current economic data, develop a forecast of and review potential future economic risks, develop a presentation and answer questions on a recommendation for monetary policy.

The challenge is intended to encourage students to learn more about the U.S. macro economy, the Federal Reserve System and the implementation of monetary policy and financial stability. It is also aimed at spurring interest in economics and finance as subjects for advanced study and as the basis for a career.

Although the work and challenges are considerable, students and advisors unanimously agree that the experience is both rewarding and unforgettable. Read some thoughts of students and team advisors on their experiences on the Federal Reserve web site.

About Pace University

Since 1906, Pace has educated thinking professionals by providing high quality education for the professions on a firm base of liberal learning amid the advantages of the New York metropolitan area. A private university, Pace has campuses in Lower Manhattan and Westchester County, N.Y., enrolling nearly 13,000 students in bachelor’s, master’s, and doctoral programs in its Lubin School of Business, Dyson College of Arts and Sciences, College of Health Professions, School of Education, School of Law, and Seidenberg School of Computer Science and Information Systems.

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Media Contact: Cara Cea, Pace University, 914-906-9680,

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