Learning never ends.
For four dedicated Fitchburg State University students on the College Fed Challenge (CFC) team, their deep dive into economics led to an unforgettable experience, cultivated through the teaching and coaching of Professor Ozge Ozay from Fitchburg State’s Economics, History, and Political Science Department.
The students that competed in the CFC were Andrew Novak, Andrew Woods, Rocco Zimei, and Paige Levesque.
“What I really learned is about how the Fed operates mostly and how their meetings go and how I can translate that into my own life,” said Zimei, a senior studying international business and economics. “I wouldn’t have known that previously without taking this course.”
The CFC is a prestigious competition hosted by the Federal Reserve that bridges the gap between theory and practice, bringing real-world economics into the classroom. Student teams assume the role of central bank policymakers, analyzing current economic conditions to formulate and present a strategic recommendation for U.S. monetary policy. This academic event is highly valued for pushing students beyond textbook learning, helping them cultivate practical skills essential for professional success, including critical thinking, public speaking, teamwork, and leadership.
Teams participating in the CFC make presentations and deliver their findings to a panel of expert judges with deep knowledge of economics and monetary policy.
“It was a very cool experience preparing for this and getting a lot of knowledge,” said Novak, a junior studying economics. “We took a very deep look into how the economy works. It was very insightful.”
The presentations are expected to hit on key elements, including an analysis of current economic conditions, a forecast of near-term economic and financial conditions relevant to the formulation of monetary policy, a discussion of potential risks to the economy that should receive special attention, and a monetary policy recommendation.
Following the presentations, teams answer questions from judges about recommendations made in their presentations during a maximum 15-minute question and answer session.
Working as a cohesive classroom team stood out to Levesque, a senior studying international business and economics.
“We had to work as a team and our best score was for our teamwork,” she said. “I would recommend this class. It was a lot of work, but it was also very informative at the same time. It was a unique experience to get to compete in the challenge. It’s not like you normally have the opportunity to do something like that. I’m glad I had the opportunity to take this course.”
The students took the online challenge at Percival Hall.
“Overall it was really fun,” said Woods, a junior studying economics. “It taught me the interworking of the Federal Reserve, and it gave me more of a love for economics.”
The judges determine the winner by scoring teams on four areas: economic analysis, Q&A performance, teamwork, and presentation quality. The top-scoring team wins the competition.
“This is the second time I’ve taught College Fed Challenge and had the opportunity to coach the students for their presentation and Q&A,” said Ozay. “It’s challenging to prepare four to five students for a presentation that takes place mid-semester, but CFC proves to be experiential learning at its best. It’s truly a privilege to sit down and study the current macroeconomic conditions, investigate upcoming data and surveys, read economic magazine pieces together, and offer input as they develop their presentation.
“In large classes, you don’t really get to know students that well, but with a small group working on a collaborative project like this, you learn about their lives, families, friends, and what’s important to them,” said Ozay. “I truly enjoy teaching this course, and I’m proud of what the team has accomplished this semester.”
Fitchburg State was in the same bracket as Harvard, Boston College, Dartmouth, and the University of Vermont.
Novak made sure to credit Professor Ozay for her insight, wisdom and professionalism in teaching this course.
“She’s awesome. I love her classes,” said Novak. “She teaches well and knows how to structure classes the right way to keep us on track.”