Emerities

University Monetary Policy Symposium

Photo of a mock FOMC Panel and Gary Zimmerman, Federal Reserve Bank of San Francisco; Andrew Ojede, CSULB Department of Economics; and Mena Ghendi, CSULB undergraduate.

Left photo: Mock FOMC panel. Right photo, from left: Gary Zimmerman, Federal Reserve Bank of San Francisco; Andrew Ojede, CSULB Department of Economics; and Mena Ghendi, CSULB undergraduate.

In spring 2012, Professor Andrew Ojede and the Federal Reserve Bank of San Francisco (FRBSF) organized the University Monetary Policy Symposium. Undergraduate and graduate students from CSULB’s Department of Economics, in conjunction with students from the Economics Department at the University of the Pacific, were assigned to nine groups, in which each group prepared a debate on different aspects of the U.S. economy.

The groups looked at different aspects of key macroeconomic variables and prepared presentations/debates based on the regional economic outlook and national economy. Each group selected a leader to give the group presentation. Students then made monetary policy recommendations based upon group presentations.

Economists at the FRBSF helped coordinate and train each student group. Gary Zimmerman, the lead economist at the FRBSF, distributed articles and commentaries on the economy by top economists at the Federal Reserve and around the country, and these articles complemented group presentations. During the symposium, Federal Reserve economists explained the roles of monetary policy and the Federal Reserve in the U.S. economy.

Over 180 faculty, students and FRBSF members attended the symposium, held on April 13. The symposium provided students with a wonderful opportunity to learn and experience the function of the Federal Reserve and how monetary policy is made.