SFU Economics participates in 2017 Bank of Canada Governor’s Challenge

For the first time, SFU Economics participated in the Bank of Canada Governor’s Challenge, led by economics professor Luba Petersen. The Governor’s Challenge simulates the monetary policy decision-making process and puts students in a position of advising the Bank’s Governing counsel.

Pictured participants include Yaser Sattari, Zoe Fajber, Albert Ko, Devin Stewart, Calum Stranack, Ebunoluwa Ehinmowo, Martin Wagenbach, and Luba Petersen.

Other participants not pictured included Alan Bi, Jatinder Gill, Simmy Grewal, Richard Groenewald, Kushdev Singh, Phuong Hoang, Jun Jiang, Sukhdeep Kaur, Brandon Lee, Melvin Ma, Artem Sadreev, and Gary Sidhu.

Below, we speak with SFU economics professor Luba Petersen to find out more about the Governor's Challenge. 

What makes the Bank of Canada Governor's Challenge unique?

The Bank of Canada Governor's Challenge is a valuable opportunity for undergraduate students to work together to analyze the Canadian economy and provide actual policy recommendations to representatives of the Bank of Canada. Students must analyze and forecast economic developments and make recommendations on whether or not they should make changes to the Bank’s key interest rate in order to maintain low, stable inflation. More details can be found on the Bank of Canada website.

How does it get students involved?

Students work together to collect data and analyze recent trend in the Canadian economy. They apply their research skills to identify and evaluate risks to the Canadian economy and make policy recommendations. It gives students an opportunity to apply their macroeconomic and financial knowledge to a real world application and get an opportunity to have their recommendations communicated to some of the most important policy makers in the country.

What kind of skills did students develop doing this challenge?

Data collection, data analysis, econometric and presentation skills, and team work are all important skills that students developed during this challenge.

Are there any plans for this to happen again in 2018?

Hopefully! I will be on research study leave, but I hope a faculty member will pick up where I left off.