The University of Alberta has won the Bank of Canada’s sixth annual Governor’s Challenge, a national student competition in which teams simulate the role of advisor to the Bank’s Governing Council. The winners were announced following the final round on Saturday, February 13.

Governor Tiff Macklem congratulated all the participants on their grasp of the monetary policy-making process and encouraged them to consider a future career in the public service. “This is my first year taking part in the Governor’s Challenge, and I was thoroughly impressed with the calibre of presentations made by this next generation of bright economic minds,” he said. “You have so much to offer our country and I hope you consider harnessing your enthusiasm and dedication into a career that contributes to the economic well-being of Canadians.”

The Governor’s Challenge invites undergraduate students in economics and finance to develop a deeper understanding of the Canadian economy and the Bank’s role in it. Since the first competition, 39 participants have joined the Bank – one measure of the initiative’s success.

Five teams competed in the final round, each one giving a virtual presentation on the economic outlook for Canada and making a monetary policy recommendation to a panel of senior central bank officials.

The judges for the final round were Eric Santor and Sharon Kozicki, Advisors to the Bank of Canada Governor, and Sylvain Leduc, Executive Vice President and Director of Economic Research, Federal Reserve Bank of San Francisco.

Notes for editors

  • The team from the University of Ottawa finished in the first runner-up spot. The other finalists, in no particular order, were the teams from Carleton University, the University of Toronto (St. George Campus) and Wilfrid Laurier University.
  • The faculty advisors for the winning and first runner-up teams were, respectively, Malik Shukayev and Max Sties of the University of Alberta, and Lilia Karnizova of the University of Ottawa.
  • The competition began on November 17, 2020 with a first round of presentations by video conference; more than 100 students from 22 Canadian universities participated. On November 24, five teams were selected to compete in the final round.
  • For more information about The Governor’s Challenge, and to learn about future competitions, visit the Bank’s website.