Twenty-six competitive teams were assembled by universities from all over the country to research, analyze and present their monetary policy recommendations to the Bank of Canada. In the preliminary round they presented via video conference to a team of judges, with finalists presenting in-person at the Bank in February.
“The Governor’s Challenge provides students an opportunity to experience the practice of economics in the real world,” explains Dr. Victoria Barham, Dean of the Faculty of Social Sciences. “It’s an intense, highly competitive experience that equips participants with skills for their careers and / or graduate studies.”
Teams succeed by undertaking a solid analysis of the state of the Canadian economy, ideally injecting a creative angle to the analysis. They recommend the next monetary policy steps the Bank of Canada should take based on this analysis. The team must pull it together as a crisp, articulate fifteen-minute presentation and shine through a Q&A session.
The team is drawn from the students enrolled in ECO 4195 “The Art and Science of Monetary Policy-Making in Canada,” taught by Dr. Fabrice Dabiré. Students in the course are immersed in the theory, tools, and techniques of formulating monetary policy, as well as how to present them. “This isn’t a typical course,” maintains Professor Dabiré. “In the space of a few weeks the students have to absorb monetary policy economic theory, organize to conduct independent research and analysis, formulate a policy recommendation and boost their presentation skills.”
"The course is very challenging, but incredibly fulfilling. It is a great experience to be working with like minded individuals who are all eager to learn, develop skills and compete aggressively nationally,” says Emir Harbegue. “I’ve participated in the challenge twice, and each time has been intellectually rewarding. It is truly like no other course offered by the faculty. "
Five presenters are selected as defined by competition rules. This year’s presenters were Thomas Perry, Gabriella Ruggero, Liam McMahon, Cael Thomas and Emir Harbegue. All members of the class worked on the analysis and recommendations, organizing themselves to gather data, model forecasts, craft charts and slides and drilling the presenters with questions during dry runs.
The team has a lot of support from the Faculty, Department of Economics and beyond. “Many professors and former team members provide feedback during the dry runs. Mike Heffernan, our presentation coach, helps sharpen the students’ speaking skills. We’re very grateful to the broader community for their assistance,” stresses Professor Dabiré.
The team will get to do it all again in the new year, pushing to cross the finish line as national champions.
Team leader Thomas Perry summarizes the mood: “Our hard work and dedication paid off. We are proud to represent the University of Ottawa in the final with the aim of bringing the school its first win in the Bank of Canada Governor’s Challenge.”
The next round of presentations that will decide the national winner will be on the 1st of February, 2024.