NEW YORK, Dec. 3, 2015 /PRNewswire-USNewswire/ -- Pace University won the 12th annual national College Federal Reserve Challenge, marking the second consecutive year that Pace has won the prestigious competition that tests students' understanding of the U.S. economy, monetary policymaking and the role of the Federal Reserve System.
The finals were held in Washington D.C. as the capstone to five district competitions held around the country. Undergraduate teams from across the country first competed in their local Reserve Bank Districts, and top teams moved on to the finals. Last month, the Pace University team won New York's regional competition for the fourth year in a row. Pace's 2014 national win was the first for the NY Fed District in the history of the College Fed Challenge and the school now becomes the first in the District to repeat as champions.
"Once again, our students demonstrated the quality, hard work and commitment to success that characterizes a Pace University education," Pace University President Stephen J. Friedman said. "This victory highlights Pace's unique commitment to experiential learning and professional experience, giving our students a competitive advantage both during their college years and as they enter into highly competitive professional fields."
"Preparation for Fed Challenge expands students' knowledge of the U.S. economy, monetary policy, and the work of the Federal Reserve," said Federal Reserve Board Chair Janet L. Yellen. "The competition is also intended to foster interest in economics and finance as fields for advanced study and careers."
All seven members of this year's Pace team are Economics/Business Economics students in Pace's Dyson College of Arts and Sciences. The team members are Katherine Craig, Daniella Gambino, Omar Habib, Jozef Lampa, Melissa Navas, Jonathan Okane and Yuliya Palianok; Professors Greg Colman and Mark Weinstock served as the team's advisor.
Participating teams analyze economic and financial conditions and formulate a monetary policy recommendation, modeled on the work of the Federal Open Market Committee. Teams competing in the finals gave presentations and answered questions for a panel of senior Federal Reserve officials.
About Pace University:
Since 1906, Pace University has educated thinking professionals by providing high quality education for the professions on a firm base of liberal learning amid the opportunities for professional experiences offered by the New York metropolitan area. A private university, Pace has campuses in New York City and Westchester County, New York, 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.
SOURCE Pace University