Dr. Dennis Nsafoah, assistant professor of economics & advisor with team member Adam Smith

A team of Niagara students competed at the College Fed Challenge virtual competition in the fall of 2022. Dr. Dennis Nsafoah, assistant professor of economics was the advisor for the team, which consisted of business majors:  Junyoung Kim, Ha Nguyen, Sunju Park and Adam Smith.

The College Fed Challenge is a competition designed to bring real-world economics into the classroom. Teams play the role of monetary policymakers by analyzing economic conditions and recommending a course for monetary policy. The Maiden Lane Division, which NU students participated in, was organized by the Federal Reserve Bank of New York. 

This competition is a great opportunity for students to study economic analysis, monetary policy decision-making, public speaking and teamwork. Fed Challenge participants develop important skills such as analytical thinking, working together in a team setting, and formal business presentations.

To compete, teams of three to five students give a presentation on the economy and participate in a Q&A with the judges. Judges are New York Fed economists and staff who are experts on economics and monetary policy.

Niagara’s team received an Honorary Mention. Dr. Nsafoah shared the value that students gain with this involvement, "By participating in the challenge, our students got a real-world experience of thinking analytically and also making effective presentations. I am proud of what the team achieved given the challenges in that short period of time."