Congratulations to the UConn Storrs Fed Challenge team!
Over the past few days, the undergraduate students on the Fed Challenge team competed in the Boston Federal Reserve (Boston Regional) Fed Challenge competition, and they excelled – first advancing to the Boston Regional Finals, and then advancing to the National Finals.
As a result, in November the team members will be presenting their economic forecasts and monetary policy recommendations to the Federal Reserve in Washington, DC. This is an exceptional achievement.
A brief recap of the Boston event… On Friday, October 18th, the team competed with 23 other universities and colleges in the New England Boston Federal Reserve district. For the first round, the 24 teams (universities and colleges) were divided into six groups of four, with the winner of each group moving on to the Boston Regional Finals.
The UConn team won in its group, and earned its spot in the Regional Finals, joining the other five other Regional Finalists (Yale, Harvard, Wellesley, Babson and Dartmouth) to compete in a final round on Sunday. The final round would decide which three of the six Regional Finalists would move on to the National Finals.
UConn competed against the schools in the Regional Finals, presenting analyses of current macroeconomic conditions and monetary policy recommendations and fielding questions from Boston Federal Reserve economists. The UConn team was outstanding, and by the end of the day had made it to the National Finals along with two other teams.
The three New England Universities to move on are Yale, Harvard and UConn.
Congratulations to our student team members for all of their hard work and accomplishments!
The students are:
Viren Chainani (presenter) Spencer Thompson (presenter) Claire Dobbins (presenter) Rai Kumar (presenter) Katrina Melnik (presenter) Nameeda Elmi William Infante Lilla Korniss Evelyn Zhou John Mclean
The faculty advisors are Derek Johnson and Owen Svalestad.
Professor Richard Langlois has won the Alice Hanson Jones Prize for his recent book The Corporation and the Twentieth Century: the History of American Business Enterprise (Princeton University Press, 2023).
The prize, announced on September 7 at the 2024 meeting of the Economic History Association, the professional society of economic historians, is awarded every other year for an outstanding book on North American economic history.
The Corporation and the Twentieth Century was also a finalist for the George R. Terry Book Award of the Academy of Management.
Congratulations to Economics faculty Delia Furtado, who has received promotion to Professor, and Tianxu Chen, promoted to Associate Professor in Residence!
The University of Connecticut Board of Trustees approved the promotions at their Board meeting on Wednesday, April 17th.
The Department of Economics is hosting the UConn Leafy LAEF Macro Conference in Storrs, CT, on October 25-26, 2024, jointly with the Laboratory for Aggregate Economics and Finance (LAEF) at the University of California, Santa Barbara.
LAEF was established in July 2005 to address important questions on growth and fluctuations in national, or aggregate, economies. It is directed by Professor Finn Kydland, Nobel Laureate (2004), Jeffrey Henley Professor of Economics at UCSB.
The conference will feature approximately 9 to 10 papers. Submissions from all areas of macroeconomics and adjacent fields are welcome. We hope you will find this conference of interest and will submit your work. The submission deadline is April 30, 2024.
You can find the call for paper and the submission portal here.
At the Open House, students had the opportunity to network with their peers, hear from Chairman Jerome Powell and staff from the Monetary Affairs division – all in celebration of the 20th anniversary of the Board hosting the College Fed Challenge finals.
This trip has an educational value that cannot be replicated through any other venue. Students’ learning outcomes included: 1) experiential learning at the Federal Reserve Board of Governors; 2) deeper knowledge acquisition of the structure of the Federal Reserve Board, conduct of monetary policy, and internship and employment opportunities at the Board; 3) networking with the Federal Reserve officials and students from other universities.
The highlight of the trip was the meeting with Chairman Powell and taking a picture with him.
The trip was organized by Professor Smirnova, the faculty adviser to the team, and made possible by collaborative efforts of the Economics Department, CLAS Associate Deans Office, the Business School, and the Stamford campus. The students are grateful for the opportunity to expand their economics knowledge and career competencies such as teamwork, professionalism, and career and self-development.
The UConn Stamford team participated again this year in the College Fed Challenge national competition. The College Fed Challenge is a team competition for undergraduate students. Teams analyze economic and financial conditions and formulate a monetary policy recommendation, modeling the Federal Open Market Committee.
The Fall 2023 Stamford team consisted of seven students who represent a diverse set of majors and minors at the Stamford campus.
Daniel Barreto, Team Leader. He is a senior majoring in Economics. His passion lies in understanding the intricate workings of the economy, a skill he found invaluable in his ventures within financial markets. One of his primary career goals is to perpetually expand his knowledge and push his limits in life. His part-time position at a law firm, which commenced in the spring, has played a pivotal role in advancing his aspirations of becoming a corporate lawyer. Daniel’s summer fellowship at WaveAerospace provided him with invaluable insights into the dynamics of a small business startup. It was an experience that deepened his understanding of economics and business, further propelling him toward career goals. Upon graduation, Daniel plans to pursue further studies in corporate law. Read Daniel’s reflection here.
Felix Brito-Velazquez is a senior majoring in Economics. He has embarked on his journey in economics driven by a genuine interest in how money shapes our society. His passion for economics started as he experienced the consequences and witnessed the complexities behind Venezuela’s economic collapse, a crisis triggered by government intervention in the central bank and private sector. This early curiosity has since evolved into a broader interest including politics, finance, and history. In parallel to his academic pursuits, he has spent the last five years as a Personal Banker at Bank of America, where he has had the opportunity of helping individuals navigate their financial decisions. It’s his deeply held aspiration to merge his academic knowledge, real world experience, and enthusiasm to play a meaningful role in crafting a more equitable economic environment for all. Read Felix’s reflection here.
Kevin Jankowski is currently in his third year at the University of Connecticut, where he is studying Financial Management with a minor in Economics. Kevin is passionate about his academic pursuits and has plans to continue his education with a master’s degree in quantitative risk management. Kevin’s career goal is to enter the world of Investment Banking. He is dedicated to working hard and seizing opportunities to expand his knowledge and skills. Read Kevin’s reflection here.
Tuan Kiet Tran comes from Vietnam. He is a sophomore majoring in Marketing Management. The striking cultural contrasts between his homeland and the US have opened his eyes not only to the vast economic disparities but also to the power of decision-making on a global scale. His passion for economics stems not merely from textbook theories but from witnessing the profound impact that decisions made by a few can have on the lives of millions. This understanding deepened as his personal hobby of cooking confronted him with the stark reality of escalating grocery prices. The surge in daily expenses prompted his curiosity, leading me to participate in the Fed Challenge. Kiet’s involvement in the Fed Challenge further enriched his understanding, demystifying the forces behind inflation and potential countermeasures. As he continues his academic journey, he remains committed to bridging the gaps between theory, personal experiences, and real-world implications. Read Kiet’s reflection here.
Parth Trivedi is a senior majoring in Economics. As a teenager, he had a passion for economic theory which he was able to nurture with the guidance of the Econ department at UConn. The Federal Reserve Challenge has lived up to its name, testing Parth’s analytical and communication skills. Though Parth had hoped to win, he hopes that the experience of a competition itself will allow him to prove himself capable as a professional Economist.
Noah Park is the Student Body Vice-President and a senior majoring in Digital Media & Design and minoring in Economics. Noah was honored to represent our university’s economics team, especially for the prestigious College Fed Challenge competition at the Federal Reserve Bank of New York. As a team member, Noah closely examined and forecasted trends within the current housing market. While his primary major may seem distinct from economics, he firmly believes in the importance of understanding financial markets across all sectors. His passion for economics was ignited by his fascinations with numbers, especially measuring statistics for his favorite sport, the NBA, as well as his desire to comprehend the complexities behind the 2008 housing market crash, a pivotal event that highlighted the far-reaching consequences of economic shifts today.
Noah’s commitment to both design and economics is a testament to the diverse and integrative education offered at UConn-Stamford, demonstrating the symbiotic relationship between design thinking and economic acumen. Post-graduation, his aspirations are both clear and ambitious. He intends to seamlessly weave business and economics in his personal endeavors, focusing on individuals, particularly those with ADHD. By tapping into the synergies of his academic background, Noah plans to devise strategies to empower individuals with ADHD to enhance their executive functioning skills, enabling them to lead more fulfilled and productive lives. In tandem with this venture, Noah is fervently pursuing a part-time position as a summer TA at Yale University. This role promises to be a keystone in his academic journey, facilitating his advancement in the management master’s program and allowing Noah to further delve into the confluence of design, economics, and impactful pedagogy. Read Noah’s reflection here.
Adrien Vincent is a sophomore pursuing Financial Management with a passion for entrepreneurship. Throughout his college experience, Adrien has strived for success in the business world through various internships and the Student Government CFO of UConn Stamford. His drive for business ventures has allocated his goals in various directions, which gratefully enabled him to join the Fed Challenge Team at Stamford. Aside from Adrien’s business ventures, he enjoys branching out into other interests and hobbies, such as playing in chess tournaments, producing music, and going camping. Read Adrien’s reflection here.
The 2023 competition was still virtual, but the Orientation at the Federal Reserve Bank of New York was in-person. The 2023 team’s video is available here.
The experience of the College Fed Challenge competition is an extraordinary way to build career competencies. As students reflected in their essays, the course teaches them not only economics knowledge, but also critical thinking, communication, and team building skills. Participation in this competition becomes a cornerstone of their academic career at UConn and is offered as ECON 3492-Practicum course.
“The Journal of Economic Behavior and Organization is devoted to theoretical and empirical research concerning economic decision, organization and behavior and to economic change in all its aspects. Its specific purposes are to foster an improved understanding of how human cognitive, computational and informational characteristics influence the working of economic organizations and market economies and how an economy’s structural features lead to various types of micro and macro behavior, to changing patterns of development and to institutional evolution.”
“Economic Inquiry is a highly regarded scholarly journal in economics publishing articles of general interest across the profession. Quality research that is accessible to a broad range of economists is the primary focus of the journal.”
For both journals, Professor Furtado is handling papers in labor and demographic economics.
During 2022-2023 academic year, Greenwich High School students enrolled in the Early College Experience (ECE) Economics courses taught by Mr. Ian Tiedemann participated in the High School Fed Challenge, which is an academic competition where teams of students act as future economists. The competition is administered by the Federal Reserve Bank of New York and offers the opportunity for students to develop skills in teamwork, research, data literacy, and analytical writing. Student teams author economics research and pursue recognition in the Federal Reserve Bank of New York’s Journal of Future Economists.
In June, the announcement of the winners of the essay content came out, and we learned that Greenwich HS team is one of the winners! Their essay “It’s a (s)Mall World: Globalization, E-Commerce, and Shopping Malls” is included in the Journal of Future Economists, 2023: pp. 78-91.
We congratulate the team of students: Ambika Grover, Ryan Kaufman, Cindy Li, Max Lu, Amrutha Nandakumar, Charles Andrew Miranda, Nicole Orlofsky, and Elliott Gordon.
We congratulate their teacher, certified ECE Economics instructor, Mr. Ian Tiedemann.
Through the Office of Early College Programs, the Economics Department works closely with 58 UConn ECE certified Economics instructors representing 42 different partner high schools across the state. In 2022-2023 academic year, 785 students were enrolled in 64 UConn Economics courses (ECON 1000, 1201, 1202). Since some students take more than one course, there were 1225 total enrollments.
The impact on students who take Early College Experience (ECE) Economics courses is manyfold. They get acquainted with the academic rigor of CLAS, gain familiarity with the University as a whole, and publicize the prominence of UConn across the nation and around the world when gaining acceptance to institutions of higher education.
ECE students’ success reflects positively on the University of Connecticut, as these students continue to prosper throughout the country at the various universities and colleges they attend. Their continued success is indicative of their college readiness in part due to their enrollment in the UConn ECE program.
On April 13, the department convened for an awards banquet that recognized the best among undergraduate and graduate students, as well as faculty. This year’s award recipients are:
Undergraduate Awards
Economics Department General Scholarship
Pin Lyu
Justin Wu
Kathryn A. Cassidy Economics Scholarship
Solaiman Chowdhury
Annaliesa Wood
Rockwood Q. P. Chin Scholarship
Lila Pickerign
Stratton Stave
Ruoqi Wang
Qiaozhi Zhou
Ziyun Zhou
Louis D. Traurig Scholarship
Aidan Adams
Erik Choi
Ian Ferguson
Nadine Fernando
Sophia Lemirei
Paul N. Taylor Memorial Prize
Colman Tokar
Julia & Harold Fenton and Yolanda & Augustine Sineti Scholarship
Annelise Montuori
Charles Triano Scholarship
Summer Beebe
John Doran
Dr. Joseph W. McAnneny Jr. Scholarship
Adem Aksoy
Dylan Champagne
Keven Coşgel
Eleanor Gross
Anthony Ho
Shuhan Jiang
Isabella McClure
Ross Mayer Scholarship
Jackson Bright
Virag Korniss
Graduate Awards
Albert E. Waugh Scholarship
Miranda Mendiola Valdez
W. Harrison Carter Award
Matthew Brown
Victor Volkman
Abraham Ribicoff Graduate Fellowship
Abdulmoshen Almuhaisen
Timothy A. and Beverly C. Holt Economics Fellowship
Satadru Bhattacharyya
Xiaofeng Gong
Phillip Hwang
Shangyue Jiang
Meng Song
Feifan Wang
Xinrui Wang