Tuesday, May 8, 2012 BBA News
Students Visit Chicago Fed Reserve Bank, Learn About Its Response to Financial Crisis by Staff

Chicago Federal Reserve Bank

Undergraduate Financial Markets, Institutions, and Economic Activity students enjoyed the opportunity to visit the Federal Reserve Bank in Chicago in May.

Professor Dean Corbae, who teaches the course, was impressed by the trip and how his class was treated. “The Fed really went out of their way for us. They set up a tour of the Chicago Board of Trade, had us there for lunch, then gave a two-hour presentation.”

Robert Steigerwald, senior policy advisor for financial markets, and John McPartland, senior professional, both work in the Fed’s economic research department. In delivering the two-hour presentation to the class, they described the effects of the recent financial crisis on financial market clearing and the role of the Federal Reserve in reacting to the crisis, as well as how new regulation will affect the banking system in the future.

The class was similarly awed by the “once-in-a-lifetime opportunity” the trip provided. Student Andrew Baumgarten states, “It was nice to learn about banking in the classroom and then see how it is applied in the real world. I thoroughly enjoyed listening to the speakers and it was a great opportunity to network with other students in the class.” Classmate Toni Tognarelli agrees, saying, “I would love to be able to do it again. I also think that it would benefit classes in the future. It’s one thing to learn about concepts and history in a book, but it’s another to actually go and see it.” Fellow pupil Daniel Thompson adds, “I am grateful that we have a faculty at the University of Wisconsin-Madison’s School of Business who have the initiative and connections to provide these sorts of rare opportunities to their students.”