The UConn-Stamford FED Challenge team earned honorable mention in the Federal Reserve Bank of New York 2018 College FED Challenge competition. This marked the third consecutive year of participation in the competition by the Stamford Campus team and the first time advancing to the semi-final round. The competition started with 39 teams in the initial round on October 24. The UCONN-Stamford team advanced to the semi-final round held on November 14 among only eight teams. Rutgers University-New Brunswick placed first and advanced to the final round held in Washington DC November 29. Columbia University placed second. UConn-Stamford earned Honorable Mention along with Fairfield University, Fordham University, Siena College, and SUNY-Oneonta.
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 Federal Reserve Bank of New York is one of four Federal Reserve Banks that host the College Fed Challenge Competition. The regional winners go to the final round at the Board of Governors in Washington D.C.
UCONN-Stamford team was comprised of 3 presenters: Ignacio Gonzalez, Jonathan Herrick, and Brendan Armburst-Mulcahey. The team coach was Di Yang, (Stamford Business School MBA). The researchers who helped prepare the team for the competition were Aditya Dadavai, Sijie Hu, Lingyi Zhu, and Roma Roma (all in the Stamford Business School BPMA Program). Faculty advisors were professors Natalia Smirnova, Steven Lanza, Kanda Naknoi, and Oskar Harmon. The team benefited from practice sessions of challenging questions with volunteer members of the Fairfield Business Community.
The team participants shown in the picture at the awards ceremony at the FRBNY are (from left to right): Brendan Armburst-Mulcahey, Di Yang, Natalia Smirnova, Jonathan Herrick, Ignacio Gonzalez, Oskar Harmon.
Dr. Smirnova’s article “Teaching Money and Inflation Across the Curriculum” came out online on January 2 in The Social Studies, a peer-reviewed journal that publishes articles of interest to educators at all levels. The article describes the outcomes of a program for K-12 teachers that she created while serving as Director of Education at the American Institute for Economic Research (AIER). The program uses the Economics-Across-the-Curriculum approach which encourages the integration of economic concepts into various disciplines.
Dr. Smirnova has long been an advocate for bringing economic and financial literacy education to a wider audience. This publication is her fourth in the series of articles describing the impact of this unique approach on knowledge acquisition and showcasing creative lessons that were field-tested by teachers. In her articles, she demonstrates that any subject area can be a fruitful ground for the infusion of economic concepts and for making lessons relevant and meaningful to students.
This latest publication features several lesson ideas for teaching about money and inflation to high-school students. These lessons were incorporated in algebra, American history, and Spanish language classes. The main beauty of the lessons presented in the article is the empowerment of students to apply economics to their everyday life. The article also presents details on how to setup a professional development workshop for teachers and how to inspire them to create and field-test an economic concept integration idea.
The Economics Department Early College Experience Program held its annual workshop for teachers on November 1 at the Storrs Campus. The workshop was attended by 25 teachers from high schools across the state who hold the positions of instructor and preceptor of economics responsible for teaching high school students Principles of Microeconomics (Economics 1201), Principles of Macroeconomics (Economics 1202) and Essentials of Economics (Economics 1000) in their high school.
The teachers who attended, learned from a program they inspired by suggesting topics in the spring of 2018. Highlights of this year’s program included Professor Nishith Prakash presenting his work entitled “Gender, Crime and Punishment”, which provided a peek at original economics research. The teachers were excited by this work and raised numerous questions.
Professor Prakash’s paper was followed by a presentation by Professor Natalia Smirnova (a UConn Economics Ph.D.) entitled “Oligarchs and Ivans: A Changing Russian Economy 1990-2020” in which Professor Smirnova provided both background and predictions for the modern Russian Economy including a look forward.
Professor Oskar R. Harmon, who is doing research and teaching about sports economics, presented an exciting session entitled “Sports Economics and Principals of Economics” over lunch. Professor Harmon was followed on the program by Mr. Paul Conant explaining the Kyoto Treaty to the teachers in a session titled “Kyoto and Beyond.”
ECE Economics Coordinator and Emeritus Professor of Economics Bill Alpert capped off the day with his discussion “Income Distribution: What’s the Matter?”
After continuing discussion the workshop was adjourned.