Appstate Economics

Economics students present research at undergraduate research and creativity symposium

Appalachian State University senior economics major Brittany Ramsey and junior economics major Will Blackwood presented economic research at the annual State of North Carolina Undergraduate Research and Creativity Symposium (SNCURSC) in Durham, NC on November 5, 2016.

The students, who were mentored by Department of Economics Chair John Whitehead, analyzed data from the Blood, Sweat and Gears Bike Race, a strenuous, 90-mile loop in Valle Crucis, NC, 5 miles south of Boone.

Blackwood's poster, "Economic Impact of Prerace Training Rides for Blood, Sweat and Gears," synthesized online survey data conducted after the 2011 to 2016 races, where participants were sent email invitations. Blackwood found that, of the riders who completed the surveys, 218 also participated in training rides prior to the race, and, on average, those who did training rides took 1.5 trips. Using regression analysis, Blackwood and Whitehead found that, as expected, the number of trips decreases with the number of miles that participants had to travel for their training rides. The economic value of these training trips ranged from $500 to $1500 each person.

Ramsey: The economic value of participation in Blood Sweat and Gears ranged from $81 to $162 for each participant.

Ramsey's research, "Travel Cost and Consumer Surplus Analysis of 2016 Blood, Sweat, and Gears Bike Race," used regression analysis to determine the effect of travel costs on whether participants will return the following year. Ramsey and Whitehead found that as travel costs increase, participants are less likely to want to return the following year. The economic value of participation in Blood Sweat and Gears ranged from $81 to $162 for each participant.

The 2016 SNCURSC event was hosted by North Carolina Central University.

Both students' research was supported by Barnes Program Student Research Grants. The Barnes Program provides Walker College of Business students up to $2000 in funding to engage in research with a faculty mentor outside of the normal classroom experience. 

 

Appalachian State University Wins District College Fed Challenge

From the Richmond Fed:

Students from Appalachian State University won the district title in the Federal Reserve Bank of Richmond’s College Fed Challenge competition. The winning team included students Matthew Hawks, Robert Weant, Ben Sullivan, Federico Pigozzi, Jacqueline Hundley and Anthony Santelle (alternate). The team was coached by Professor Mark Strazicich.

Appalachian State University, located in Boone, North Carolina, competed in the district finals against teams from American University, Washington, D.C., and the University of Virginia, Charlottesville, Virginia. By winning the district title, Appalachian State University advances to the national competition to be held December 1 at the Federal Reserve Board of Governors in Washington, D.C.

Preliminary rounds of the competition were hosted by participating schools within the Fifth Federal Reserve District.

College Fed Challenge is an academic competition designed to deepen students’ understanding of the nation’s central bank. Students delivered 15-minute presentations on monetary policy and fielded questions from judges during a 15-minute Q&A session. Teams were scored on content and analysis, responses to questions, teamwork, presentation and style.

 

Left to right – Ben Sullivan, Robert Weant, Federico Pigozzi, Anthony Santelle (alternate), Professor Mark Strazicich (faculty advisor), Matthew Hawks and Jacquelinie Hundley

The App State Fed Challenge ready to go to the Richmond Fed for 5th Region finals!

Economics students earn top spot during regional College Fed Challenge

Economics students Federico Pigozzi, Matthew Hawks, Bobby Weant, Jacqueline Hundley, Ben Sullivan and Jessica Robinson have won the regional College Fed Challenge.

The students presented on the state of the U.S. economy and made recommendations for monetary policy. Economics professor Mark Strazicich, who serves as faculty advisor for the Fed Challenge team, accompanied the students.

The annual competition is hosted by the Federal Reserve Bank for undergraduate students across the U.S. The regional competition was held on October 28 at the Martha and Spencer Love School of Business' Koury Business Center at Elon University, where  eight universities from North and South Carolina competed for the top spot in the region.

Each team was allotted 20 minutes to provide an overview of the state of the economy in terms of macro variables such as inflation, the unemployment rate, real GDP, manufacturing, housing, the banking system, consumer's sentiment, the exchange rate, foreign trade, and interest rates. Following the presentation, there was a 10-minute question and answer session with a panel of judges. The questions posed by the judges and the scenarios given to the finalists were provided by economists from the Federal Reserve Bank of Richmond.

"It was a rigorous and demanding competition and I am proud of our team," said Dr. Strazicich. "The students were knowledgeable and well prepared. They represented Appalachian extremely well while increasing their understanding of the macro economy and the theory and practice of monetary policy."

The Appalachian team will next travel to the district competition to be held at the Federal Reserve Bank in Richmond, VA on November 9, where they will compete against the winners from the other two regions of the Federal Reserve Bank of Richmond representing universities from Maryland and the District of Columbia, and Virginia and West Virginia, respectively. The winner of the district competition will go on to compete at the national competition to be held at the Board of Governors of the Federal Reserve System in Washington, D.C. in December.