MCC Business Administration Students Compete in Federal Reserve Challenge

Manchester, Conn. (February 2, 2016) – Five business students started their Spring 2016 semester at Manchester Community College with a decisive edge, thanks to some real-world experience they gained by competing in the New England Competition of the 2015 College Fed Challenge in Boston.

From left, Martin Hart, Nicole Holyst, Joshua Donner, Yoselin Murillo, Rebecca Webb, Malton Edwards, Phillip Hylton and Kevin Bechard

The students went up against teams from such schools as Bentley, Clark, Harvard, Brown, Dartmouth, Tufts, Northeastern, Bryant, UConn, Quinnipiac, Boston College and Boston University.

Phillip Hylton, of Hartford; Rebecca Webb, of Willington; Joshua Donner, of Manchester; Yoselin Murillo, of West Hartford; and Nicole Holyst, of Tolland, represented MCC’s first fielded team in the annual event in which students analyze economic and financial conditions and formulate a monetary policy recommendation, modeling the Federal Open Market Committee.

The competition involves teams of undergraduate students from approximately 25 universities and colleges located within the Boston (first) Federal Reserve District. Teams give a presentation of their recommendation and then defend it in front of judges, who were economists at the Federal Reserve Bank of Boston.

As a first-time participant, MCC held its own against the heavy competition. Hylton said of his experience, “Competing with the best schools in the region was at first intimidating, but no doubt exhilarating.”

Webb added, “Working with my peers on this challenge has been the most rewarding and uplifting experience. After putting in months of research, and long nights of practice, the best feeling of accomplishment came over me when I walked out of that room.”

Federal Reserve Challenge participants learn about the economy and the policy process. Sparked by the competitive spirit and desire to learn, many students often go on to internships or careers in the Federal Reserve System, or to graduate studies in economics, finance or other related fields.

MCC’s first-year team was coached and accompanied by Associate Professor Martin Hart, MCC department chair, business and accounting studies; and Instructors Kevin Bechard and Malton Edwards.

Hart said, “Competing against top undergraduate scholars from around the region gave our MCC business students perspective and confidence in their talents and efforts. The team worked hard, meeting each week over the summer and into the fall term. Their preparation was evident during the presentation.”

The same group of students were invited to attend the Windsor Federal Savings’ “Eggs and Economics IV” breakfast January 7, 2016, to participate in a presentation by guest speaker Craig Dismuke, chief economist for Vining Sparks IBG. That experience gave the MCC students an opportunity to hear from and ask questions of one of the leading experts on the health of the U.S. economy, expectations for interest rates and relevant fixed income strategies.