A team representing the University of North Carolina, Chapel Hill, N.C., won the preliminary round of the College Fed Challenge Competition held Nov. 4 at the Charlotte branch of the Federal Reserve Bank of Richmond. The team included students James David, Ivan Kirov, Andrew Owens, Michelle Gregory, Patrick McGowan and alternate Bill Armstrong and was coached by Professor Mike Aguilar. UNC will advance to the Fifth District championship in Richmond on Nov. 16, competing against teams from James Madison University, of Harrisonburg, Va., and Lafayette College, of Easton, Pa.
Lenoir-Rhyne University, Hickory, N.C., and Duke University, Durham, N.C., were finalists in the preliminary competition. Teams competing in the Charlotte round included representatives of the following North Carolina schools: Gardner-Webb University, Western Carolina University, Appalachian State University, Johnson C. Smith University, North Carolina A&T State University, University of North Carolina at Wilmington, Guilford College and Methodist University. The competition also included the following teams from South Carolina: Anderson University, Winthrop University and Furman University.
Students delivered 20-minute presentations on monetary policy and were scored on content, teamwork, responses to questions, presentation and style. Judges included Matt Martin, Richmond Fed senior vice president and Charlotte regional executive; Richmond Fed economist Richard Kaglic; Clare Adkin, North Carolina Council on Economic Education; Shawn Robinson, senior vice president, BB&T Co.; Richmond Fed Assistant Vice President Kelly Stewart; and Jewel Glenn, Richmond Fed Public Affairs manager.
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 everyone.
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.