Press release: SUNY-Geneseo Wins FDIC’s Inaugural Academic Challenge
Congratulations to the State University of New York College at Geneseo, winners of the 2020-2021 FDIC Academic Challenge. The team included undergraduate students Kiersten Colvin, Ian Merrihew, Tyee MacDonnell-Miller, and Oliver Stordahl. The team was advised by Dr. Léonie Stone.
The other finalist teams were California State University, Fullerton; the University of Chicago; the University of Delaware; and the University of North Carolina at Chapel Hill.
Please see below for additional information about the FDIC Academic Challenge, including the format of the competition and the topic for the 2020-2021 Challenge. Materials for the 2021-2022 Challenge will be posted in the coming months.
The FDIC Academic Challenge is a team competition for undergraduate students, designed to bring real-world policy questions into the classroom and address questions concerning the banking industry. All students at U.S. universities and colleges are eligible to participate.
About the Challenge
The competition consists of two rounds. In the first round, teams submit a written response to a question on the banking industry. In the second round, finalist teams will be invited to give a presentation of their findings and answer questions from judges who work in the areas of banking and bank supervision.
Participation in the challenge will enhance students’ professional and academic skills by promoting analytical thinking, graphical and oral presentation of information and concepts, and collaboration with peers.
The objectives of the FDIC Academic Challenge include:
- Increasing understanding of the banking industry and the FDIC’s role of ensuring the stability of our nation’s financial system;
- Engaging in critical dialogue with undergraduate scholars on the banking trends and policies related to the FDIC’s mission;
- Promoting interest in future FDIC careers in the fields of economics, accounting, and finance;
- Building relationships between the FDIC, students, and the academic community.
How to Compete
The topic for the 2020-2021 FDIC Academic Challenge is “The Effects of Community Banks on Local Economic Development.” The links below contain the question for this year, a dataset, and a data codebook, as well as the public data sources used in compiling the dataset.
To compete, please complete the following steps:
- Each team must consist of 4-5 students and have a faculty advisor. The role of the faculty advisor is to assist students in thinking through the material and to interact with FDIC as needed.
- The competition consists of two rounds. In the first round, teams submit a written response to a question on the banking industry. In the second round, five finalist teams will be invited to Washington D.C. to give a presentation of their findings and answer questions from a panel of judges who work in the areas of banking and bank supervision.
- Submit your answers by November 20, 2020.
Please see below for additional information about the FDIC Academic Challenge, including the format of the competition and the topic for the 2020-2021 Challenge.
- PDF (Help)
Guidelines and Permissions - PDF
Dataset (CSV format) (SAS format) (Stata format ) - ZIP (Help)
Data Codebook - Excel (Help)
Grading Rubric for Written/Final Rounds - PDF
Participant Code of Conduct - PDF
Transcript of First Q&A Session - PDF
Transcript of Second Q&A Session - PDF
Questions? Please write to AcademicChallenge@fdic.gov.