Bank of Canada announces finalists for the sixth annual Governor’s Challenge

The Bank of Canada has announced the five finalist teams in the 2020-21 edition of The Governor’s Challenge, a competition where university students simulate the role of advisor to the Bank’s Governing Council.

Congratulations to:

• Carleton University, coached by Raul Razo-Garcia
• University of Alberta, coached by Malik Shukayev
• University of Ottawa, coached by Lilia Karnizova
• University of Toronto (St. George Campus) coached by Martin Burda and Angelo Melino
• Wilfrid Laurier University, coached by Wing Chan

With special mention to the runner up teams:

• Université de Sherbrooke
• University of British Columbia

Governor Tiff Macklem congratulated the finalists and all the students and professors who took part. “Thanks to all the participants for their ideas, teamwork and interest in the competition, despite the unique challenges this year due to the COVID-19 pandemic,” he said. “I hope they will be encouraged by this experience to continue learning about the important policy-making role played by the Bank of Canada.”

Notes for editors

• The first round of this year’s competition took place November 17-18, 2020, with presentations delivered by video conference. More than 100 students from 22 Canadian universities participated. The final round will take place Saturday, February 13, 2021, by video conference.
• Working in teams, students provided analysis and forecasts on developments in the economy. They then presented a monetary policy recommendation to keep inflation low and stable, in line with the Bank’s inflation target of 2 per cent. The judges evaluated teams on the substance of their analysis, the quality of their presentation and evidence of strong teamwork.
• The team from the University of British Columbia won last year’s competition.