UMES business students place second in monetary policy contest
BALTIMORE - (Nov. 1, 2012) - A team of University of Maryland Eastern Shore business students made the finals of an annual academic competition sponsored by the Federal Reserve Bank of Richmond.
UMES junior and senior business students and faculty attending the 2012 Federal Reserve Challenge, from left, are: Dr. Vichet Sum, Samuel Odagbodo, Kenneth Hales, Dr. Monisha Das, Kyle Wolfe, Anuba “Marina” Anoh, Joseph Phiefer, Preston Johnson, Dr. Mohammad Ali and Robel Lakwe.
American University bested UMES and McDaniel College in the College Fed Challenge sponsored by the Baltimore branch of the nation’s central bank.
The UMES team’s 2012 performance marked the second year in a row the institution earned a spot in the finals of a preliminary round.
“I have a better understanding of the Federal Reserve System and how important their decisions are to the well being of our economy,” senior Samuel S. Odagbodo said. “Overall, The Federal Reserve Challenge was a great experience, and I encourage people to get involved.”
Other universities participating were: Loyola, Mount St. Mary’s, Notre Dame of Maryland and Salisbury.
Students delivered 20-minute presentations on monetary policy and were scored on content, teamwork, responses to questions, presentation and style.
The College Fed Challenge is a regional academic competition created to encourage better understanding of the central bank, the forces influencing economic conditions in the United States and abroad and the ways the economy affects everyone.
Das noted the team had to forego several practice sessions in the week leading up to the competition because Hurricane Sandy caused schedule disruptions.
“Several team members had to deal with flooding, power failure, lack of a place to practice, no water for showers, no Internet or phone communication for a day or two and school closures as the competition neared,” said Dr. Monisha Das, an associate professor of marketing and the team’s lead coach.
Bill Robinson, director, Office of Public Relations, (410) 621-2355Bill Robinson, director, Office of Public Relations, (410) 621-2355.