IPFW team 2nd in Fed Challenge

Verbatim announcement from IPFW University Relations and Communications

Five students at Indiana University-Purdue University Fort Wayne (IPFW)
recently competed with other collegiate teams from Indiana, Illinois,
Iowa, Michigan, and Wisconsin in the annual Fed Challenge at the Seventh
District Federal Reserve offices in Chicago. The IPFW team competed
against teams from the University of Chicago, Grand Valley State
University, and Western Illinois University. The IPFW team placed second
to the University of Chicago. According to Carolyn Stumph, assistant
professor of economics in the Doermer School of Business and Management
Sciences at IPFW, the competition encourages students to apply
theoretical topics in macroeconomics and monetary policy to actual,
current economic situations. Stumph said she was pleased with the
outcome of the competition. “Given that many would consider the
University of Chicago to be one of the best schools in the world for the
study of economics, we in the department are very proud of the
performance of our team.”  The team included Joel Colglazier of
Harlan, David Fish of Roanoke, Maja Hasic and Brad Hill of Fort Wayne,
and Kevin McKay of Woodburn.

At the competition, each team gave a twenty-minute presentation to
members of the Federal Reserve Board and then had to answer questions
and, in some cases, defend their recommendations.

This year’s team was sponsored by STAR Financial Bank of Fort Wayne.
This is the second year the bank has been involved with the IPFW
students. Jim Marcuccilli, president of STAR Financial Bank, said the
competition is good for the students. “The students must do their
research, present their findings and recommendations and stand by their
decisions. It’s great practice for what they will encounter in the
real world.”