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Press Release

Washington & Jefferson College students earn top two spots in economic research competition

On Friday, May 2, 2014, twelve students from Ohio and western Pennsylvania colleges showcased their economic research at the Federal Reserve Bank of Cleveland, as part of a poster competition sponsored by the Cleveland Reserve Bank and The University of Akron Department of Economics.

The students had the opportunity to talk – and network -- with economists and analysts from the Cleveland Fed, who reviewed their work and selected three gift-card winners (see photo attached; L to R, McMenamin, Wummer, Upp):

First place: Margot Wummer, Washington & Jefferson College, Washington, PA;Healthcare Expenditures and the Impact on Economic Growth

Second place: Bayleigh R. McMenamin, Washington & Jefferson College, Washington, PA; Obesity in Urban Settings: Factors Influencing Society's Issues with Weight

Third place: Mitchell Upp, The University of Akron, Akron, OH; The Relationship between Tariffs, Corruption, and Growth in Developing Countries

Prizes were awarded based on the quality of the research and its presentation.

The students who participated in the competition attend Allegheny College in Meadville, Pennsylvania; Case Western Reserve University, in Cleveland, Ohio; Marietta College, in Marietta, Ohio; Oberlin College, in Oberlin, Ohio; The University of Akron, in Akron, Ohio; and Washington & Jefferson College in Washington, Pennsylvania. (Complete list of contestants available upon request.)

The Cleveland Fed has been partnering with The University of Akron Department of Economics to host the competition since 2009.

Federal Reserve Bank of Cleveland

The Federal Reserve Bank of Cleveland is one of 12 regional Reserve Banks that along with the Board of Governors in Washington DC comprise the Federal Reserve System. Part of the US central bank, the Cleveland Fed participates in the formulation of our nation’s monetary policy, supervises banking organizations, provides payment and other services to financial institutions and to the US Treasury, and performs many activities that support Federal Reserve operations System-wide. In addition, the Bank supports the well-being of communities across the Fourth Federal Reserve District through a wide array of research, outreach, and educational activities.

The Cleveland Fed, with branches in Cincinnati and Pittsburgh, serves an area that comprises Ohio, western Pennsylvania, eastern Kentucky, and the northern panhandle of West Virginia.

Media contact

Doug Campbell,, 513.455.4479