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EVANSTON, Ill. --- For the third year in a row, Northwestern University's Federal Reserve Challenge team won the national College Federal Reserve Challenge, taking home $25,000 in awards. </p>
<p>A team of five Northwestern students yesterday (Nov. 28) presented a mock Federal Reserve Open Market Committee monetary policy meeting to discuss what should be done in reaction to the state of the economy. This was followed by 15 minutes of questions from Federal Reserve economists who were judging the event. </p>
<p>This year's team has three members returning from the previous winners -- team captain senior Joshua Plavner as well as senior Rosa Li and junior Jeanne Ruan. They are joined by senior Frederick Herrmann and sophomore Joshua Goldstein. The team is advised by Mark Witte, director of undergraduate studies, department of economics, Weinberg College of Arts and Sciences.</p>
<p>Second place went to Boston College, third to Rutgers University, and Virginia Commonwealth University got honorable mention. The judges were Federal Reserve Bank of Richmond President Jeffrey Lacker, former Federal Reserve Governor Lawrence Meyer, and Federal Reserve Bank of Chicago economist Charles Evans.
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<p>Regional Round:
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A record number of teams representing all five states in the Chicago Fed District met in Chicago on October 31, competing to be selected represent the Seventh District in the College Fed Challenge Nationals in Washington, D.C. at the end of November. The morning first round featured teams from Ball State University, Central Michigan University, Eastern Michigan University, Indiana/Purdue University at Fort Wayne, Marquette University, Michigan State University, Northwestern University, University of Chicago, University of Iowa, University of Nortre Dame, University of Wisconsin - Oshkosh, University of Wisconsin - Parkside, and Western Illinois University.</p>
<p>Teams from Eastern Michigan University, Marquette University and Northwestern University advanced to a final round in the afternoon, with students from Northwestern University winning that competition.</p>
<p>The Northwestern students, Josh Goldstein, Frederick J. Herrmann, Rosa Li, Joshua Plavner, and Jeanne Ruan are coached by Dr. Mark Witte of the Economics Department at Northwestern.</p>
<p>"All of the student teams showed good effort in their presentations, and their command of economics was impressive. All of the universities can be proud of the level of knowledge their teams demonstrated in the competition," said Tim Schilling of the Chicago Fed's Public Affairs office. </p>
<p>If you are interested in learning more about the College Fed Challenge or the High School Fed Challenge, please contact Tim Schilling at the Chicago Fed by clicking on the link at the top right of this page, or by telephone.
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<p>Team members' profile:
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Plavner, who is from Annapolis, Md., is a senior in economics. He plans to work for Goldman Sachs in New York after graduation. </p>
<p>Li is a senior in the mathematical methods in the social sciences (MMSS) program. She is from South Bend, Ind., and will work for Morgan Stanley next year.</p>
<p>Herrmann's hometown is Skillman, N.J. He is a senior civil engineering major and has plans to work as an analyst in the equities division at Goldman Sachs.</p>
<p>Ruan, who is from Carmel, Ind., is a junior in economics, and Goldstein is a sophomore in economics from New Rochelle, N.Y.
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