November 17, 2006

Virginia Commonwealth University Wins Federal Reserve's Fifth District College Fed Challenge Competition

Baltimore, MD

Virginia Commonwealth University of Richmond, Va., won the District title in the Fifth Federal Reserve’s annual College Fed Challenge Competition. VCU edged out Mount Saint Mary’s University by one point to win the District title, and will advance to the national competition to be held Nov. 28 at the Federal Reserve’s Board of Governors in Washington, D.C.

Preliminary rounds of the competition were held in Richmond and Baltimore Nov. 13–17. VCU won Richmond’s preliminary round with James Madison University and Old Dominion University as finalists. The winning team included Michael Cieslinski, Ailen Lacey, Timothy McDonald, Joseph Mercado and Tyler Nichols; Michael Mulas was the alternate. The team was coached by Associate Professor of Economics Carol Lehr. Mount Saint Mary’s University won Baltimore’s preliminary round, with Salisbury University and Lafayette College as finalists.

The Richmond Fed sponsors College Fed Challenge, a regional academic competition, to encourage better understanding of the nation’s central bank, the forces influencing economic conditions in the United States and abroad, and the ways the economy affects people’s lives. Participating teams give 20-minute presentations on monetary policy and are judged on content, teamwork, responses to questions, presentation and style. The judges for the Richmond competition were Research Economists Ray Owens, vice president, Matt Martin and John Walter; the presentation judge was Anne Hallerman. The Baltimore competition was judged by Owens and Research Economist Andy Bauer; the presentation judge was Assistant Vice President Karen Brooks.

The Richmond Fed serves the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia and most of West Virginia. As part of the nation's central bank, we're one of 12 regional Reserve Banks that work together with the Federal Reserve's Board of Governors to strengthen the economy and our communities. We manage the nation's money supply to keep inflation low and help the economy grow. We also supervise and regulate financial institutions to help safeguard our nation's financial system and protect the integrity and efficiency of our payments system.


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