Two historical publications of the Kansas City Fed by Tim Todd. Snippets of cover pages are courtesy of Tim Todd.
Connecticut high school teachers who are certified instructors with the UConn Early College Experience (ECE) – Economics program gathered (virtually) on October 26, 2022, for an annual professional development workshop. The Economics Department sees these instructors as our colleagues and values their participation in the University mission. We see our relationship with the high school partners as important for the academic discipline and for developing Economics major and minor at UConn.
Professor Smirnova is faculty liaison for the ECE-Economics program. In this role, she oversees the course comparability, academic oversight, and professional development of the ECE instructors teaching ECON 1000, ECON 1201, ECON 1202 in their high schools.
The October workshop is an annual professional development opportunity. The goal is to share pedagogical innovations in the economics field in order to keep instructors informed and energized in delivering engaging classes to their pupils.
The workshop was opened with a dynamic presentation “5 Key Economic Concepts that Popular Media Can Teach” delivered by Dr. Kim Holder, Director, UWG Center for Economic Education and Financial Literacy, Senior Lecturer of Economics, Richards College of Business, Director of Financial Literacy, University of West Georgia (UWG).
In the next presentation “Building Human Capital – College and Career Exploration”, Princeton Williams, Senior Outreach Advisor of the Federal Reserve Bank of Atlanta, introduced teachers to Navigate, a portal that helps students navigate college application process and focus on selection of their future academic major and subsequent career. Instructors were excited to learn about several lesson plans and classroom-use-ready materials available for teachers through this site.
Intriguing presentation “4 Tools to Make Your Teaching Stick” was delivered by Matt Hill, Curriculum Designer at the Marginal Revolution University. ECE instructors were engaged in several exercises helping them experience the interactivity of the tools suggested by Matt.
The final presentation “The Vibrant History of Black-Owned Banks” was given by Tim Todd, Executive Writer and Historian of the Federal Reserve Bank of Kansas City. As the author of two books on bank ownership, which are written as a historical reference on Black community banks, Tim showed photographs related to his research and invited ECE instructors to download the books for classroom use. Instructors can also request hard copies of the books for their classroom use for free.
28 ECE Economics instructors attended the workshop.
Photo (left to right): Economics Seniors Miriam Salazar-Rey, James McQuade, and Gerson Jacinto at the Economics Major table on September 15, 2022.
On September 15, 2022, there was a buzz around the Rich Concourse at the Stamford campus. Various academic fields, representing majors and minors offered at UConn Stamford, were showcased. The Economics Department was represented by students majoring in Economics with Professor Smirnova in attendance as well.
Students also shared various career readiness events that they have attended on campus and competencies that they have developed in Dr. Smirnova’s classes. Business community leaders’ visits, career panels, Career Development Center professionals’ presentations, and other events – all of these, in students’ view, contribute to the satisfaction with the Economics major at Stamford.
Congratulations to Professor Kathleen Segerson, who has been elected to the National Academy of Sciences!
“Members are elected to the National Academy of Sciences in recognition of their distinguished and continuing achievements in original research. Membership is a widely accepted mark of excellence in science and is considered one of the highest honors that a scientist can receive. Current NAS membership totals approximately 2,400 members and 500 international members, of which approximately 190 have received Nobel prizes.”
“The National Academy of Sciences (NAS) is a private, non-profit society of distinguished scholars. Established by an Act of Congress, signed by President Abraham Lincoln in 1863, the NAS is charged with providing independent, objective advice to the nation on matters related to science and technology. Scientists are elected by their peers to membership in the NAS for outstanding contributions to research. The NAS is committed to furthering science in America, and its members are active contributors to the international scientific community. Approximately 500 current and deceased members of the NAS have won Nobel Prizes, and the Proceedings of the National Academy of Sciences, founded in 1914, is today one of the premier international journals publishing the results of original research.”
On Tuesday, April 19th , Professor Furtado will participate in a webinar, “Who will care for aging baby boomers? Immigrants,” organized by the Center on Children and Families at Brookings. She will discuss her research on the relationship between immigrant labor and the quality of care provided in nursing homes. Others will discuss how immigrants make it easier for the elderly to “age-in-place” and for the children of elderly parents to remain in the labor force.
After the presentations, a panel of immigration and health care experts will discuss the country’s caregiving needs and policies that can help address them.
If you are interested in participating, register here. During the live event, viewers can submit questions via email to events@brookings.edu or on Twitter using #FutureofCaregiving.
This year, marking the 25th anniversary of the Frontiers in Undergraduate Research Program at UConn, the Stamford campus had the first inaugural Frontiers event on April 12. The Frontiers program creates a culture of inquiry and engagement and enriches the undergraduate experience of our students.
At Stamford, students’ presentations were in-person and guests from the local community were invited. Twelve Stamford students from various disciplines delivered results of eight diverse research projects they have undertaken during this academic year.
Dr. Smirnova’s student, Matthew Gilshteyn, presented his research entitled “How Will Infrastructure Act Impact Nuclear Energy Production Costs?”, which stems from his work in ECON 3431W – “Public Economics” class. In his paper, Matthew conducted regression analysis on the data from U.S. Department of Energy and Nuclear Energy Institute and using the regression equation estimated the costs of nuclear energy production for 2022 and 2023. Matthew concluded that the Infrastructure Act’s allocation of resources towards alternative energy will decrease the cost of nuclear energy production by 8.2% by 2023. During the Frontiers event, Matthew answered questions from the audience and defended the nuclear energy as the safest energy source compared with other sources.
This year, the “posters” that students developed were in the electronic format and were projected on a big screen at the Welcome Center Atrium at the Stamford campus. Those posters will now be shown till the end of the semester on the monitors in the Concourse rotating among all eight projects.
The inaugural Frontiers event at the Stamford campus showcased the diversity of talent of our students and the continuing effort of the faculty to strengthen the undergraduate research program.
On April 7, 2022, Dr. Smirnova presented at the UConn Career Champions’ training event “Working with the Career Center to get Employers & Alumni into the Classroom”.
Dr. Smirnova provided the evidence from the National Alumni Career Mobility Survey, 2020, collected by the Career Leadership Collective that “receiving helpful career advice during an undergraduate degree is a significant contributor to educational satisfaction as well as to career pathway preparation. It plays an important role in economic mobility and career satisfaction.” (NACM, 2020)
She discussed how her courses’ learning objectives are aligned with several Career Competencies developed by the National Association of Colleges and Employers (NACE): Teamwork / Collaboration; Professionalism / Work Ethics; and Career Management Skills.
Dr. Smirnova shared examples of her work with Alumni and Stamford business leaders, which was aimed to help other Career Champions provide invaluable resources, connections, and experiences for our students as they venture on their career journeys.
This Fall 2021, UConn Stamford team participated again in the College Fed Challenge national competition. 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.
In 2021 the competition once again was virtual. Each team had to create and then upload a 15-minute video presentation encompassing the following:
An analysis of current economic conditions (as of the day of the competition); these conditions may include broad macroeconomic conditions as well as conditions experienced in different geographic areas, in urban/rural areas, or among different demographic and socioeconomic groups (e.g., racial and ethnic groups, age groups), borrowers and savers, etc.
A forecast of near-term economic and financial conditions relevant to the formulation of monetary policy.
A discussion of significant risks to the economy that should receive special attention in formulating monetary policy; these risks may include the possible effects (positive or negative) of monetary policies on different segments of the population.
A monetary policy recommendation, encompassing both traditional tools and newer approaches as warranted; presenters should give supporting reasons for their recommendation.
The Stamford team consisted of six students who divided their responsibilities for research, organization, presentation, and video creation according to their passions, skills, and interests. Here is the team:
Aidan Connolly (Captain) is a seasoned team leader with extensive experience in data-driven decision making. He is currently finishing his final semester at The University of Connecticut, where he will graduate with a Bachelor of Arts in Economics this December. Aidan was elected by his peers to lead the UConn College Fed Challenge Team. His areas of expertise include public speaking, sustainable economic practices, and quantitative modeling. Aidan enjoys cycling, skiing, and socializing in his free time. After graduation in December of 2021, Aidan will continue to consult with the UConn College Fed Challenge Team and begin his career in software sales. Read Aidan’s reflection about the course here.
Gabriella Barg is a senior majoring in Economics with a minor in Accounting. Taking part in the Fed challenge in her remaining semesters has been one of the most academically enriching adventures in her undergrad. The freedom to choose what to research in the current American economy within diverse themes is an informative experience. After spring 2022 graduation, she looks forward to carrying on her refined skills in her professional life, pursuing a Master’s in Accounting Fall 2022. Read Gabriella’s reflection about the course here.
Jorge Cuautla Jr. is a proficient researcher with substantive experience. Combined with the resourcefulness and analytical capabilities, the introduction of the College Fed Challenge was the perfect opportunity to showcase his research abilities. Jorge’s focus as a member of the College Fed Challenge team was the United States Gross Domestic Product (or GDP). The participation in the College Fed Challenge expanded Jorge’s employment opportunities. With positions offered by Amazon, PepsiCo, Northwestern Mutual, and much more, it was difficult to narrow down a future home. Post-graduation, Jorge will continue his macroeconomics research while working as an Analyst at TD Bank. Read Jorge’s reflection about the course here.
Matt Gilshteyn is a sophomore at UConn, majoring in Marketing Management. This is his second semester as a Practicum team member. This course helped him develop a better understanding of the Federal Reserve’s influence on our economy and how real-life projects are completed. The class also demonstrated how different sectors and industries contribute to the decisions of the Federal Reserve. Matt selected the energy sector in hopes of better understanding this sector and its operations. He focused on renewable energy because it showed serious potential for growth within the energy sector. Researching and interpreting data was very insightful, and the skills that he developed helped explain how the energy sector can impact the Fed’s decision. Read Matt’s reflection about the course here.
Sava Logvinski is an experienced negotiator, with an extensive background in team development. His ambitions are high, and dreams are endless. Sava is one who emphasizes the value of asking questions. He enjoys learning new concepts and is quick to grasp them. The Fed Challenge allowed him to gain a holistic approach to monetary policy, implementing his fundamental economic analysis obtained at UConn. He focused on the sector of employment, specifically on automation and future outlook. As a senior majoring in Economics, Sava interviewed this semester with several companies. After careful consideration, he decided to accept his offer with Celonis starting January 2022. Celonis is the world’s leading process mining software company. Process Mining is a new big data analytics technology designed to help customers optimize their operations. Process Mining goes through the already existing log data every IT system produces and finds out where improvements are needed. Why? In order to be more efficient than your competitors, get rid of bottlenecks, make your customers even happier and create processes that everybody loves to deal with. The Fed Challenge prepared Sava with public speaking and presentation skills needed to succeed in the world of sales. Through studying new AI technology and understanding the economic impacts, he was able to identify proper use cases, and deliver. He is excited to begin his journey post graduation, and help businesses unlock full execution capacity. Read Sava’s reflection about the course here.
Ashley Balta (alternate) grew up in Greenwich and graduated from Greenwich High School. Ashley is a first-generation college student, and she participated in the AVID program to help her with the process of higher education. At UConn, she majored in Economics. Ashley enjoys the arts as she has been dancing ballet at the Ballet School of Stamford since the age of 3. As a member of the diversity club, she continued her volunteering work for the AVID program as a mentor. Currently, Ashley is starting the foundation of her small-Hispanic-owned business. After graduation, she plans to pursue her master’s for further education. Since joining the Fed Challenge course over the summer, she realized it was the perfect opportunity to increase her knowledge of several sectors of the economy. Being a student-led class, this course taught her the fundamentals of planning, impact instructions, and work-related responsibilities. Read Ashley’s reflection about the course here.
All students worked diligently and cooperatively through two semesters. The final video presentation can be seen here. Even though, the Stamford team was not selected to advance into the final round, the team is proud of the work they have done.
As students’ reflections show, the participation in the Challenge is very rewarding. In addition to learning about the economy and monetary policy, students gain skills in research, analysis, and teamwork, all of which are transferable to their future careers and academic endeavors.
Congratulations UConn – Stamford College Fed Challenge Team 2021!
Photo (left to right): Jorge Cuautla, Gabriella Barg, Ashley Balta, Sava Logvinski, Dr. Smirnova, Matt Gilshteyn, Aidan Connolly.
FactSet creates data and software solutions for investment professionals around the world, providing instant access to financial data and analytics that investors use to make crucial investment decisions. The company was founded in 1978 and is headquartered in Norwalk, CT, a short distance from the Stamford campus.
All UConn Stamford students now have access to FactSet data portal through the terminals located in Jeremy Richard Library. Because students in Dr. Smirnova’s Financial Economics (ECON 3413) class are engaged in a project valuating a company of their choice, they used FactSet to get financial performance data and other information about the company they have selected, its competitors, and the industry, in which the company operates. However, there is a lot more depth to FactSet.
UConn Stamford Center for Career Development had arranged for a special (virtual) visit of FactSet’s Academic Specialist, Andi Huff, to Financial Economics class. On November 18, 2021, Andi demonstrated for students many features of FactSet portal. This knowledge will help students not only in completing the semester project, but also in developing skills in data analytics, and in utilizing this data source in other Economics courses as well as in other disciplines.
Ms. Andi Huff also introduces students to various career opportunities available at FactSet, such as Student Ambassador Program, Internships, and Client Solutions Associates positions.
Economics majors are prepared for a diverse range of careers, but jobs in data analytics are of a particular interest nowadays. Availability of FactSet’s platform at the Stamford campus plays an important role in enhancing our students’ readiness for careers in this field.
On November 11, 2021, Stamford Economics majors met a special guest. The visitor was Jeff Magnuson, Career Consultant and owner of Jeff Magnuson Consulting. Jeff talked to students about developing a strategy for their job search and about specific steps they should take to aid this process.
Students learned about developing an understanding of the role they want to play at a firm they are applying to. This step of thinking about one’s passions and personal goals and objectives should be the first one in the job search process. Drafting the resume and cover letter should come after that. The practice of thinking deeper about what one wants to do will help making resume more focused and cover letter more persuasive.
Jeff encouraged students to be open and truthful. He motivated them to not get deterred by the competition, and to concentrate only on things within their control. He gave hints about utilizing mailings to the actual hiring manager instead of relying solely on the electronic uploads of the materials. Overall, many good ideas and suggestions were discussed, and students were grateful for the wealth of information that Mr. Magnuson provided.
The visits of business community members to the Stamford campus are encouraged by the CLAS 2020-2025 Strategic Plan. Supporting “Goal 3 Teaching” and the “Student Support and Engagement” objective, we are creating ways to better connect students with various opportunities related to their career aspirations. In support of “Goal 4: Broader Impacts, Service, and Visibility”, we are facilitating community engagement and increasing the visibility of CLAS with and for citizens of the state.
Photo: Mr. Jeff Magnuson (left) and Dr. Smirnova during the Stamford campus visit on November 11, 2021
Congratulations to Professor 
This year, marking the 25th anniversary of the 
Photo: Dr. Smirnova (left) and Matthew Gilshteyn at the Frontiers in Undergraduate Research event in Stamford, April 12, 2022.
On April 7, 2022, Dr. Smirnova presented at the UConn 
Professor Nishith Prakash recently presented a UConn TedX talk on “Transforming Girls’ Lives with Bicycles’
Jeff encouraged students to be open and truthful. He motivated them to not get deterred by the competition, and to concentrate only on things within their control. He gave hints about utilizing mailings to the actual hiring manager instead of relying solely on the electronic uploads of the materials. Overall, many good ideas and suggestions were discussed, and students were grateful for the wealth of information that Mr. Magnuson provided.