Department News
Economics students earn top honors at Regional Fed Challenge Competition
In only UMW’s second year of participation, a team comprised of economics students was named a finalist at the annual Regional Fed Challenge competition held at the Richmond Federal Reserve on October 30. The team included senior majors, Kenneth Barnes, Kristin Caufield, Tristan Diaz, Jason Martin, Dam Pathmalal, Stephanie Rzepka and Michael Warlick, and was coached by economics professors, Dr. Margaret Ray and Dr. Gerald Fennemore.
Teams delivered 20 minutes presentations detailing their recommendation for monetary policy and were judged on their analysis of the economy and ability to answer questions posed by economists of the Richmond Fed. In all, twelve colleges participated in the competition, with Virginia Commonwealth University narrowly edging past finalists UMW and Christopher Newport University to earn the opportunity to compete at the Fifth District championships on November 18th.
UMW team members are selected from those students enrolled in ECON 490b: Experiential Learning—Fed Challenge, a class offered each fall semester. Anyone interested in participating in next year’s competition should contact Dr. Margaret Ray, mray@umw.edu, for more information. (posted 10/31/2008)
Economics Students Form Nonprofit to Aid Honduras
Dr. Shawn Humphrey is leading a new, experiential learning course in which a group of students will incorporate their own nonprofit microfinance institution to stimulate economic growth in Honduras. The Microfinance Institution, La Ceiba, will secure economic opportunities for underprivileged communities and is structured to attain long-run sustainability. As a part of the class, each student is responsible for bridging theory and practice in one aspect of the development process, such as management, law, marketing, economic theory or client research, and synthesizing their findings as a whole. At the end of the semester, course participants will travel to Honduras to implement the program’s on-the ground component. The students are detailing their challenges and successes on a blog, "Building La Ceiba," which you can read and discuss at http://www.laceibamfi.org/ (posted 9/29/2008)
Economics of Philanthropy and the Nonprofit SectorClass Posts Web Page
The Economics of Philanthropy and the Nonprofit Sector class (ECON 324) has establlished the MWC Foundation. The web page of the MWC Foundation is found at : http://philanthropy.umwblogs.org. (posted 9/29/2008)
Economics of Philanthropy and the Nonprofit SectorClass Announces
MIssion Statement and Request for Proposals
The MWC Foundation of the Economics of Philanthropy and the Nonprofit Sector course at the University of Mary Washington is offering a $10,000 funding opportunity to 501(c)(3) organizations in the area.
The mission statement of the MWC Foundation is as follows:
As the Mary Washington Centennial Foundation (MWC Foundation), it is our mission this year to provide financial support to organizations based in the Fredericksburg region currently offering services or programs that build character, educate, or help to improve future generations in the community. Special consideration may be paid to programs geared towards youth and/or after school activities. The region is defined as the City of Fredericksburg, as well as the counties of Spotsylvania, Orange, Culpeper, King George, Stafford, Caroline, the Northern Neck region, and the Middle Peninsula.
To apply, submit completed application to the address below by October 25, 2008 (Postmarks honored).
Contact Dr. Robert S Rycroft at the address below for an application form.
MWC Foundation
c/o Dr. Robert Rycroft
Department of Economics
University of Mary Washington
1301 College Avenue
Fredericksburg, VA 22401
(posted 9/22/2008)
Economics of Philanthropy and the Nonprofit Sector Prepares for a New Year
The Economics of Philanthropy and the Nonprofit Sector class (ECON 324) will again be offering $10,000 in funding to a worthy local charitable (501(c)(3))organization. The source of the money is Doris Buffett's Sunshine Lady Foundation.
Students will simulate the activities of a foundation. They will write a mission statement, solicit applications for funds, and select recipients. The mission statement and application form should be available on or about October 1. The application deadline will be on or about November 1. The grant (or grants) will be announced at a public ceremony on Tuesday, December 2. Additional details will be posted as they become known on the project web page at http://philanthropy.umwblogs.org..
This is the fourth year the course has been offered. Previous recipients of grants have included Hope House, the Fredericksburg Regional Boys and Girls Club, Rebuilding Together, Homes for America: Heritage Park Academic Achievement Program, National Housing Trust/Enterprise Preservation Corporation and Fredericksburg Counseling Services. This course will be an annual offering at UMW for quite some time in the future. (posted 8/15/2008)