BMCC Student Team Wins College Fed Challenge

Fed Challenge group

November 14, 2019

A team of seven Borough of Manhattan Community College (BMCC/CUNY) students — Daniel Bercovich, Yekutiail Blaustein, Fabian Carchi, Herdeveine Dorelle, Afrym Hodzic, Dieudonne Ndjebayi Seh and Ngoundou Ngoma — has earned First Place in the Maiden Lane division of the College Fed Challenge, sponsored by the Federal Reserve Bank of New York.

“The continued success of our students in the Fed Challenge for close to a decade is testament to the commitment and dedication of both our faculty and students to strive for success,” says BMCC Acting Provost Erwin Wong. “We are extremely proud of their accomplishments. Congratulations and kudos to them!”

The 2019 team was mentored and led by Business Management Professors Julian Schroeder and Ioannis Tournas.

They first competed on October 22 in the Maiden Lane preliminary round of 12 teams from the Second Federal Reserve District, according to Heather Daly, Director of Education Programs at the College Fed Challenge. “The student teams are given a case, with data, and they present to New York federal bank judges, their recommendations for monetary policy,” Daly said.

Next, the BMCC students competed in the Maiden Lane final round on November 12, and came in at first place.

The annual College Fed Challenge enables students to take the role of economic policy makers and strengthen their understanding of U.S. monetary policy. During the competition they present an economic analysis, and engage in a Q&A with judges who are New York Fed economists and experts on monetary policy.

The 2019 BMCC team’s first-place success follows the 2018 BMCC team’s success in the Maiden Lane, Second Federal Reserve District competition of the College Fed Challenge.

As first place winners for their federal district, the 2019 winners are invited to attend and observe the final round of the Liberty Street College Fed Challenge, in Washington, D.C.

“Travel and accommodations are provided by the Federal Reserve,” says Daly. “At that event, they will have the opportunity to hear and meet Federal Reserve Chair Jerome H. Powell.”

NOTE: Due to the success of the College Fed Challenge, the NY Fed selected BMCC to receive a visit by high-ranking federal official and academic, Dr. John C. Williams, President and CEO of the Federal Reserve Bank of New York, on December 13 at 11 a.m.., in Room 701, Fiterman Hall. Dr. Williams will address students, faculty, alumni, BMCC donors. All BMCC students are invited to this event.

STORY HIGHLIGHTS

  • A team of seven BMCC students has earned First Place in the Maiden Lane division of the College Fed Challenge sponsored by the Federal Reserve Bank of New York
  • The team was a finalist in a qualifying round of 12 teams from the Second Federal Reserve District, then earned first place in the final round
  • The BMCC team will observe the final round of the Liberty Street College Fed Challenge, in Washington, D.C.

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