History of the Rutgers Newark Fed Challenge Team

 

November 2011 was the 11th year of the College Fed Challenge competition at the New York Federal Reserve Bank in lower Manhattan and the 8th year of the national finals at the Board of Governors of the Federal Reserve System in Washington DC.  In the Fed Challenge, teams of 3 to 5 students give a 15-20 minute power-point presentation analyzing the current state of the economy, offering an economic forecast, and recommending a monetary policy stance for the Fed.  Following the presentation, teams respond to 15 minutes of questions from a panel of judges about monetary policy and macro theory.

Rutgers-Newark has been competing in the Fed Challenge since 2005.  In 4 of the past 6 years (2006, 2009, 2010, 2011), the team won the New York district competition out of more than 30 schools entered each year and went on to compete in the national finals.  In both 2009 and 2011 the Rutgers Newark team placed second in the nation.  In 2006 the team placed third and in 2010 they were fourth in the nation.

Through 2009, The Moody’s Foundation provided prize money to the top four teams in the national championship, and through 2008 also provided prize money in the New York regional finals.  Rutgers-Newark teams have won a cumulative total of $50,000, which is divided between the students and the Economics Department. 

Rutgers Newark teams are composed of undergraduates majoring in economics, finance, accounting and/or mathematics.  The following students have participated as presenters and background researchers:

2005 Presenters:  Peter Eberhard; Miodrag Kapor; Anthony Restaino; Pawel Skonieczka; Andrew Verdon.  Researchers:  Alif Makani; Rob Holman

2006 Presenters:  Kristina Lopez; Jared Mijares; Ron Mosseri; Anthony Restaino; Andrew Verdon.  Researchers:  Billy Joseph; Miodrag Kapor; Sneha Pendse
First place in the New York Fed competition ($15,000 prize money)
Third in the national championship in Washington DC ($10,000 prize money)

2007 Presenters:  Billy Joseph; Sagar Kadakia; Jared Mijares; Shahbaz Rajwani; Andrew Verdon.  Researchers:  Brooke Chuang; Roseita Monteiro; Nidhi Parikh
Second place in the New York Fed competition ($10,000 prize money)

2008 Presenters:  Kevin Buckley; Leo Marc Cayanong; Michael Martins; Joel Paulino; Sajan Surt  Researchers:  Lakshya Aeri; Hugh F. Jarrett; Bansri Manek
Semi-final round of the New York Fed competition

2009 Presenters:  Lakshya Aeri; Sharissa Barrow; Victor Castaneda; Diego LaFuente; Michael Martins.  Researchers:  Franklin Diaz; Alina Salaridze; Sajan Surti; Peter Yoler
First place in the New York Fed competition
Second in the national championship in Washington DC ($15,000 prize money)

2010 Presenters:  Lakshya Aeri; Gassia Assadourian; Victor Castaneda; Henry Ruiz; Sher Singh.  Researchers:  Jeff Abanda, Ryan Carroll; Mike Hogan; Andre Saharig; George Tokarz; Feng Ye
First place in the New York Fed competition
Fourth place in the national championship in Washington DC

2011 Presenters:  Victor Castaneda, Michael Jen, Bryan Myers, Gaurav Pendse, Sher Singh.  Researchers:  Edson Cornejo, Harrison Edelman, Benny Ng, Andrew Rodrigues
First place in the New York Fed competion
Second in the national championship in Washington DC

 

 

For information on joining a future Rutgers-Newark Fed Challenge team, please see the team coach and advisor, Professor John Graham