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.
In May, Abdulmohsen Almuhaisen presented his paper, “Immigration Enforcement and the Institutionalization of Elderly Americans ,” coauthored with Professor Delia Furtado and Catalina Amuedo-Dorantes from UC-Merced, at the Annual Meeting of the Society of Labor Economists (SOLE) in Philadelphia. He will return to Saudi Arabia to work at the Saudi Central Bank in the late summer.
Both were hooded at this year’s Commencement Ceremonies by advisor, Professor Delia Furtado.
Congratulations and good luck, Treena and Abdulmohsen!
On a picture perfect Spring evening, several doctoral students participated in the University’s Commencement exercises. Major advisors hooded their students while friends and family members watched either in person from the Jorgenson or online from thousands of miles away at very inconvenient times given different time zones.
The joyous occasion was at times quite somber given the recent passing of Professor Jorge Agüero. As Professor Agüero’s student, Miranda Mendiola Valdez, crossed the stage, special recognition was given to honor the moment. The entire Jorgensen clapped as Professor Delia Furtado hooded Miranda. Miranda will begin a tenure track position at North Central College in the fall.
Nidhi Nair in Oak Hall (Sydney Herdle/UConn Photo)
Economics undergraduate student Nidhi Nair has been featured in UConn Today as the university's first-ever recipient of the prestigious Schwarzman Scholar award.
Nair is an honors student double-majoring in economics and mathematics-statistics and was selected from more than 3,000 applicants to join a cohort of 150 other Schwarzman scholars from around the world in Beijing to complete a one-year master's degree. Recipients of this award are selected on the basis of leadership abilities and potential to bridge political and cultural differences.
Nidhi Nair founded last year's Invisible Hand Economics seminar series and is the president of the UConn Economics Society, as well as being involved in the Women and Minorities in Economics organization here at UConn. Nair has worked on multiple economics research projects here at UConn, and has completed several research and advocacy focused internships at different organizations.
Nair noted the support of her Honors advisor, Economics Professor Richard Langlois in her interview for UConn Today: "Dr. Langlois has also been a source of support and has provided invaluable advice on carving out a strong career in economics that advances my interests in socioeconomic mobility and microeconomic analysis."
UConn -Stamford Team 2022. From left to right back row: Anthony Santiago, Neel Talati, Jonathan Portanova, Robert Martin, James McQuade. From left to right front row: Alyssa Pelletier, Briana Hardy
Dr. Natalia Smirnova, Stamford “Practicum” instructor, argues that each competition is unique and encourages students to develop different skills that are valuable to their future career. This year, she added FDIC Academic Challenge as a complementary activity to the existing “Practicum” structure. The timing works perfectly: Fed Challenge is heavy at the beginning of the semester (submission in October), FDIC Challenge starts in November. The skills that students learn are complementary: the Fed Challenge focuses on the oral presentation skills and macroeconomic knowledge; the FDIC Challenge focuses on the writing skills (students write an analytical report) and microeconomic analysis. Both competitions have learning goals of data literacy, analytical, research skills, teamwork, and economic analysis.
The Stamford 2022 team consisted of seven students.
Alyssa Pelletier (Team Leader) is a Junior majoring in Financial Management at UConn. This is her second semester on the College Fed Challenge team. Her interests include finance and data analytics, utilizing demonstrated collaboration, organization, and problem-solving skills. In her free time, she enjoys dancing and beach trips. Through this competition, Alyssa learned how to analyze economic / financial conditions, to formulate monetary policy recommendations. She developed a better understanding of how different sectors / industries contribute to the decisions of the Fed. Alyssa selected the Technology sector, as she was interested in researching how technology is reshaping productivity and employment opportunities. She focused on digital transformation, and how the nature of work is changing as a result of technological advances. In this course, Alyssa had the opportunity to gain insight into an industry of interest, while developing career-valued skills like leadership, critical thinking, and teamwork. Here is the link to Alyssa’s reflection at the end of the course.
Briana Hardy is a second semester Junior majoring in economics and minoring in psychology at UConn Stamford. Growing up in Stamford, she planned on transferring to Storrs for her junior year. However, as for many other people, the pandemic disrupted her plans and she decided to take a gap year. During that gap year she worked full time to help her family who were directly impacted by the recession of the pandemic. During that gap year she worked for a local community bank as a teller and then was given the opportunity to learn the beginning processes of credit risk management as a paid intern. This caused her to become more interested in economics and banking. During her gap year she also worked at a grocery store and was able to see firsthand how the pandemic disrupted many sectors of the local economy and supply chain as well. During her free time Briana is learning to speak Spanish, she enjoys investing in the stock market, and she loves to travel. After she completes her undergraduate degree, she plans on working in the banking industry. After obtaining some work experience, she wants to go back to school to obtain a graduate degree. For the College Fed Challenge, Briana decided to look further into the supply chain because of her firsthand experience in seeing how incidences outside of the financial world are, in fact, interconnected in our economy. Here is the link to Briana’s reflection at the end of the course.
Robert Martin is a current second semester Senior at UConn Stamford majoring in General Studies with a focus in Economics. He transferred to UConn his Junior year after attending Saint Joseph’s University where he majored in Business Intelligence and Analytics. He opted to switch to General studies at UConn to learn a wide variety of courses including economics, psychology, and communications to help him more in the wine industry. During his free time Robert enjoys golfing, going to the gym, and trying out new restaurants. After he completes his undergraduate in December 2022, he plans on working in the wine industry to continue to grow his wine knowledge. Throughout this challenge Robert selected the housing sector, to get a better understanding how the housing market affected the general economy and showed the growth and trends within the industry. Here is the link to Robert’s reflection at the end of the course.
James McQuade is a Senior at UConn, majoring in Economics. This is his first semester as a Practicum team member and his second semester taking coursework in monetary policy. James is interested in pursuing a career in analytics, most likely in financial services. However, he is open to opportunities in other fields conducting economic or financial analysis, i.e., credit analysis, insurance analysis, healthcare analysis, etc. He completed a summer internship in the Wealth Management department at Raymond James Financial Inc. under the Vice President of Investments in Westport, CT. He has utilized his aptitude for critical thinking as well as his knowledge of economic and financial markets to conduct research regarding the effects of commodity prices on macroeconomic forces including production costs and consumption. As the needs of team changed, he has also conducted research regarding consumer sentiment and its possible implications on the Fed’s policy to maintain price stability. He looks forward to getting more experience in analysis after graduation and hopes to find an opportunity to pursue a Master of Science in Finance or an MBA in the near future. He is also considering work on the Chartered Financial Analyst designation post-graduation. Outside of academics, James has a passion for singing, and spending time with family and friends. Here is the link to James’s reflection at the end of the course.
Jonathan Portanova is a Senior majoring in Political Science and minoring in Economics. His interest is to go into public policy and research developments in the private and public sectors. Being on the Fed College Challenge Team gave Jonathan a great opportunity to do research on the economy and learn new sources of information. Jonathan is also a community leader and has volunteered in his time in the community as members of organizations such as the Knights of Columbus, the Alzheimer Association, and on Campus. Being a part of two Honor Societies Delta Alpha Pi and Phi Theta Kappa, Jonathan enjoys spending time with family and friends, meeting new people, and going out. Here is the link to Jonathan’s reflection at the end of the course.
Anthony Santiago, “Santi” is a UConn Stamford Senior. Santi was originally a member of the class of 2020 but when the COVID-19 pandemic began, he took some time off from school to pursue a career as a plumber. After establishing himself locally in the trade industry, he decided that it was time to reenter the classroom and complete his degree. After leaving his company in January of 2022, he will graduate this December through UConn’s Continuing Studies program with a bachelor’s degree in General Studies, where most of his classes are of a business background. He is planning on trading his work boots for a suit and tie following the completion of his degree and hopes to find a finance opportunity in the NYC area early in 2023. Here is the link to Anthony’s reflection at the end of the course.
Neel Talati is a Senior majoring in Economics at UConn. This is his first semester participating in the College Fed Challenge team. Neel’s interests include stock trading, technical analysis, creating leadership opportunities and analytical thinking. In his free time, Neel likes to travel and go outdoors to play various sports like soccer and basketball. At the beginning of this competition, he has been able to demonstrate knowledge and skills to analyze economic climate forecasts and correlate them to monetary policy. He has been able to collaborate with his peers to help in all sectors of the Fed challenge. Throughout the course, he has been able to gain experience and insight to help prepare for the next semester fed challenge. Here is the link to Neel’s reflection at the end of the course.
Team’s video submission for the College Fed Challenge competition did not advance to the second round. But students kept pushing forward and worked hard on the next challenge. The written report analyzing profitability of banks in Fairfield County was submitted to the FDIC Challenge, and we are awaiting the results of the first round to be available in February.
Each student acknowledged that through the “Practicum” course they developed and refined a lot of career-transferrable skills such as critical thinking, analytical, and presentation skills in addition to teamwork and collaborative competitive spirit.
On a picture perfect Spring evening, several doctoral students participated in the 
