Excellence in liberal arts and sciences, a commitment to intellectual curiosity, and a relentless pursuit of knowledge—these are the hallmarks of the Phi Beta Kappa Society. Today, we celebrateAndy Zhang, an outstanding economics and environmental sciences major whose dedication and brilliance have earned him a place among the nation’s most distinguished scholars. With a legacy that includes presidents, Supreme Court justices, and Nobel laureates, it represents the highest honor in academic achievement. Congratulations on this well-deserved honor! Read more:Junior Named Key Into Public Service Scholar – UConn Today
Two Economics students, Madina Mamedli and Cole Sembrot presented their research at the Frontiers in Undergraduate Research Exhibition in Stamford on April 22, 2025. Their academic adviser is Professor Smirnova.
Madina Mamedli presenting her research
Madina’s paper was entitled “From Chalk to Checkbooks: The Real Price of Educational Inequality”. Madina compared the investment in and the outcomes of public and private secondary education institutions in the U.S. Her literature review and regression analysis revealed inadequate funding for public schools, which leads to lower SAT scores, lower college counselor / student ratio, and other disadvantages for students attending public schools. Madina concluded that educational inequality transforms early life privileged into long-term economic advantage. Disparities in school resources, academic support, and access to college counseling directly shape earning potential.
Cole Sembrot presenting his research
Cole Sembrot discerned fiscal and monetary policies’ impacts on the economy during the pandemic. His paper was entitled “Was COVID Inflation Worse Because of Combined Fiscal and Monetary Expansion?” Cole has built the regression model that examines how much post-COVID inflation is due to the actions of the Federal Reserve: near zero interest rates, QE, balance sheet expansion, and money supply growth, while controlling for supply-side shock. Cole concluded that the post-pandemic inflationary episode is due to a complex interplay between policy and external economic shocks.
Madina Mamedli (’25), Dr. Smirnova, Cole Sembrot (’25)
The event was attended by more than 50 people: students, faculty, and staff. There were guests from the Office of Undergraduate Research and UConn Enrichment Programs as well as Stamford campus administration. The atmosphere of the event was academic in nature, but friendly and supportive. 20 students from various fields of study presented their research results. Experiences like this help students gain confidence and prepare for careers upon graduation.
UConn Storrs 2024 Team: from left to right: back row: Professor Derek Johnson (faculty adviser), Spencer Thompson, Viren Chainani, Lilla Korniss, Claire Dobbins, Katrina Melnik, Professor Owen Svalestad (faculty adviser). Front row: Nameeda Elmi, William Infante, Evelyn Zhou and Rai Kumar
The Economics Department students participate in the College Fed Challenge national competition every year. The Storrs team competes in the Boston district of the Federal Reserve System, and the Stamford team competes in New York. In 2024, the Storrs team was a National Finalist, which is an exceptional achievement. In February 2025, both teams travelled to the Board of Governors of the Federal Reserve System in Washington, DC, for an Open House for all participants.
UConn Stamford 2024 Team: from left to right: back row: Matthew Dalzell, Thomas Surette, Angelina Solodka, Professor Smirnova (faculty adviser), Paul Juszczyk, Liz Maia, Madina Mamedli, Brenda Leon, Mallory Albrecht, front row: Cole Sembrot and Micthell Velasco.
In addition to summarizing results from the 2024 competition, the agenda of the Open House focused on showcasing various segments of the Fed’s functions and sharing career opportunities available at the Board for graduates with bachelor’s degrees. Participants heard from Brian Bonis, Assistant Secretary of the FOMC, Matt Eichner, Director of the Division of Reserve Bank Operations and Payment Systems, and a panel of former Fed Challenge participants, who are now employed as Research Assistants (RAs) at the Board.
The students of both teams were excited to participate in the Open House and are appreciative of the Economics Department as well as other entities that provided funding for this trip. The sponsors are the Business School, CLAS Dean’s Office, UConn Center for Career Readiness and Life Skills, and Stamford campus administration. Thank you!
During the trip to the Open House at the Federal Reserve Board, UConn-Stamford 2024 Team of the College Fed Challenge competition had an opportunity to meet with UConn alum, Misbah Seyal. Mr. Seyal is a real estate professional with a substantive career including various positions at Moody’s, Wells Fargo, Bank of America, and other financial services firms.
Natalia Smirnova, faculty, (left) and Misbah Seyal, UConn alum (BA’97, MBA’04), at dinner with students on February 6, 2025, in Washington, DC.
During the meeting with students, Misbah talked about career opportunities after graduation from UConn. He emphasized the importance of developing skills that could be transferred to the workplace and of being adaptable to labor market conditions as they change.
Students were interested in learning about the real estate sector as well as about the financial sector. They were curious about navigating the competitive market environment and about balancing career expectations and family. Misbah shared his wisdom and encouraged students to pursue their passions and dreams.
The students, as well as Dr. Smirnova, faculty adviser to the College Fed Challenge team, are grateful to Mr. Seyal for his time with us. We are also appreciative of Ms. Siobhan Lidington, Director of Development, School of Business, University of Connecticut Foundation, for her efforts to make this meeting possible.
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.
As part of her University Scholar project, Karen Lau ’25, who is triple majoring in economics, history, and Asian American studies (individualized), spent the summer going through archives at NYU’s Tamiment Library and interviewing women involved in the 1982 International Ladies’ Garment Workers’ Union (ILGWU) strike in Manhattan. For the economics part of her project, with the guidance of Professor Delia Furtado, she will use Current Population Survey (CPS) data and state-of-the-art empirical techniques to estimate the causal impacts of the strike on labor market outcomes of New York City garment workers.
When asked if she had advice for other economics majors considering applying for the University Scholar program, she responded,
“While applying for University Scholar, I had no experience with STATA or any knowledge of which data sources to use, but I had ideas, and I knew which faculty members whose research I found interesting that I could ask for support. Meet with faculty members in different departments to share your ideas. Their feedback and experience will help you distill your ideas, which may be too broad or too ambitious, into a specific, understudied topic to which your research could contribute original findings. Professor Furtado motivated me to take Econometrics II, learn unfamiliar techniques, and develop a mixed-methods approach, allowing my data analysis and regressions to corroborate my qualitative research. Don’t be intimidated by the “Q” in Econometrics I and II! Learning to use STATA can be challenging at first, but taking these courses will help you develop quantitative skills that can serve you beyond college and help you contribute to the literature on a topic you are passionate about. In Econometrics II, I learned about difference-in-differences regression, a method I am using to analyze how a labor shock impacted workers’ wages. The more comfortable I felt using STATA, the more confident I felt carrying out a thesis project with techniques drawn from economics. The University Scholar program is looking for interdisciplinary-minded students who are not necessarily the most experienced researchers, but who are most willing to challenge themselves to build new skills and bring multiple fields into conversation.”
(left to right) Mitchell Velasco (’25), Dr. Smirnova, Matthew Dalzell (’25) at the Frontiers of Undergraduate Research Exhibition, Stamford campus, April 16, 2024
The Welcome Center area at the Stamford campus was crowded on April 16th as the Frontiers of Undergraduate Research 2024 exhibition was about to start. Thirteen undergraduate students from the Stamford campus presented their research on various topics within diverse fields of study.
Among the presenters, there were two students of Professor Smirnova, Matthew Dalzell and Mitchell Velasco. Both started their research in the ECON 3431W – Public Economics course. However, their interest in the topic grew and they continued working on their papers.
Matthew Dalzell’s (‘25) paper entitled “The Impact of Privately Owned Buses on Carbon Dioxide Emissions in Connecticut” written in Spring 2023 was presented at the New York State Economics Association (NYSEA) conference 2023 in October. Matthew’s trip to the conference was sponsored by the Office of Undergraduate Research, for which Matthew is grateful. Matthew acknowledged in his speech the benefits of attending a conference outside UConn. He said that such exposure allowed him to see what students at other universities are doing in terms of research, “rub elbows” with professional economists and distinguished faculty, and gain confidence for his studies and future career aspirations.
Mitchell Velasco’s (‘25) paper entitled “Decarbonization of the US Power Grid and Cost Competitiveness of Renewable Energy Technology” was written in Fall 2023. The Frontiers’ presentation was the first outside-of-the-classroom presentation for Mitchell. Dr. Smirnova encourages Mitchell to continue improving his paper and to submit it to the undergraduate panel at the Eastern Economic Association, the annual conference of which is scheduled for February 2025 in New York City.
The Frontiers event showcased the dedication of the Stamford faculty to undergraduate students’ success and to students’ preparation for careers after graduation.
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.
First row: (from left to right) Kiet Tran, Professor Smirnova, Chairman Powell, Adrien Vincent, Kevin Jankowski; second row: (from left to right) Noah Park, Felix Brito-Velazquez, Parth Trivedi
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.
UConn-Stamford Team before the Orientation at the Federal Reserve Bank of New York on September 12, 2023. From left to right: Kiet Tran, Noah Park, Danile Barreto, Dr. Smirnova, Kevin Jankowski, Adrien Vincent, Serhiy Kotsopey (TA), Felix Brito-Velazquez, and Parth Trivedi.
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.
Matthew Dalzell (’25) (left) receives a participation certificate at the NYSEA annual conference on October 21, 2023. NYSEA officials from left to right: Dr. Platt, President, SUNY Old Westbury, Dr. MacDonald, Vice President, CUNY College of Technology, and Dr. Ikwueze, Board of Directors, CUNY Queensborough.
Matthew Dalzell’s (‘25) research paper “The Impact of Privately Owned Buses on Carbon Dioxide Emissions in Connecticut”, written in the Spring 2023 during the ECON 3431W Public Economics course taught by Professor Smirnova at the Stamford campus, was accepted for presentation at the New York State Economics Association (NYSEA) as part of the undergraduate papers competition.
On October 21, 2023, Matthew Dalzell (‘25) presented his research to a panel of judges among seven undergraduate papers that were selected.
The submitted research papers are judged in two rounds. The first round consists of the assessment of quality of papers by judges, who are professors of economics, finance, and business at various universities-members of NYSEA. From a dozen submitted undergraduate papers, seven were selected for the second round and invited to present at the conference.
The second round, which consists of paper presentation, was held as part of the NYSEA annual conference. This year, the conference was held on the campus of SUNY Old Westbury on Long Island, NY. Seven selected papers were presented at an open forum in front of the panel of judges as well as of other conference attendees (professors, professionals, and graduate students). Within this round, the presentation skills, and the ability to defend one’s research were assessed.
Matthew Dalzell (’25) provided a thorough presentation and answered many questions from judges and audience as he passionately talked about the impact of transportation industry on climate change. He put forward several policy ideas about mitigation of CO2 emissions in Connecticut.
The exposure of undergraduate students to outside audiences as they present their research helps them develop such career competencies as professionalism, communication, and self-development.
