Highlanders Take a Trip to the Federal Reserve

As the state of our economy receives greater and greater attention, last week a group of Martin Tuchman School of Management (MTSM) business students were given the opportunity to leave their classrooms and see things for themselves at the New York Federal Reserve in New York City. Organized by Zhipeng Yan, corporate finance professor and associate dean, and accompanied by Oya I. Tukel, MTSM dean, the trip brought business students to the financial capital of the world, where they enjoyed an inside look at the gold vaults hidden some 80 feet beneath its busy streets.

This is what they had to say.

Izabel Delgado

Innovation & Entrepreneurship ’21

“It was an exciting opportunity to get a closer look at what goes on in the monetary system and the backbone influence in the economy. The experience with how protective the government is with information and possessions was exactly what I expected. Learning about the past of the economies market was very educational and insightful with many pictures and displays they provided along the way of the tour. We even had a close-up view of the gold vault that was 80 feet below street level and saw how the employees work there through a short informative video. All in all, the tour was incredibly eye-opening to the importance of the Federal Reserve and why we should understand the economy a little better. I also had the pleasure of being accompanied by the new dean of MTSM. Not only was Dean Tukel with us during the tour, but she offered to take this field trip to the New York Stock Exchange to explore the financial district a little further. Learning this together about these institutions was an amazing experience and one I will not forget as a great memory provided to me by NJIT.”

Shaharyar Soomro

Financial Technology ’21

“The experience was definitely one that I will remember. On the trip we were given a tour of the inner workings of the Federal Reserve and also received a brief history of how the system came to be the way it is today. We also learned about the mandates that are within the Fed's current jurisdiction, as well as how it works to mitigate systemic risk. The highlight of the trip was definitely getting a chance to go into the gold vaults of the reserve and observe chamber after chamber filled to the brim with gold bars. At one point, the group was brought in front of one chamber that held approximately 6.2 tons of gold. Overall, it was a great experience and brought a lot of the financial concepts and theories we learn in the classroom into the real world.”

Shamil Hazim

Financial Technolog ’21

“I found our visit to the NY Fed to be priceless, literally and figuratively. I think everyone should make time for this, no matter your background or career interest. Growing up in New Jersey, I was always aware of New York City’s reputation for being the financial capital of the world, but it was this field trip that cast its reputation in gold, 6 tons of it. As a group, we were walked through the unique history of the NY Federal Reserve and its current place in our national as well as global economic system. Our tour guide was very engaging and receptive to all of our questions. By the end of our visit, I found myself admiring the complexity and efforts made by the individuals who do the work of balancing our economic outlook, and with a new perspective on our individual contributions to its success.”

Zhipeng Yan

Associate Dean and Professor of Corporate Finance

“This was my first time bringing our NJIT students to the Museum and Learning Center at the Federal Reserve Bank of New York. The goal was to help students further their understanding of the Federal Reserve System and see the gold vault.

The tour clearly defined the structure and mission of the Federal Reserve System, and provided a useful overview of the goals of monetary policy. In addition, It clearly explained the Federal Reserve’s involvement in financial services, such as payments, cash processing and circulation, and gold custody. I believe the tour improved our students’ knowledge of the Federal Reserve System and the role it plays in the financial markets.”

Oya I. Tukel

Dean and Professor of Supply Chain Management

“I was very excited to spend some time with our business students during this trip. They impressed me and the Fed representative by the knowledge they have in principles of economics and finance. I am a strong believer of experiential learning, where students develop skills and knowledge outside of the traditional academic classroom setting, and this trip is a great example of it. There will be many more opportunities this academic year for our students to visit companies and learn from professionals. It’s part of what makes us Tuchman strong!”

To learn more about MTSM’s finance-oriented programs, email ugbizadvising@njit.edu or vist the school’s degree program page.