A summer internship can change your life. Just ask junior economics major Michael Igwemezie. During the summer of 2019, Igwemezie worked for the Board of Governors of the Federal Reserve System Board (otherwise referred to as the Federal Reserve Board). 

“[Before the internship,] I had an interest in the Fed, but I didn’t necessarily know 100% the day-to-day things they did. I just knew it was the be-all end-all of economics,” Igwemezie said.

Specifically, Igwemezie worked in the Division of Financial Stability, with economists and research assistants, to conduct comprehensive capital analysis reviews to determine how banks respond to economic shocks. He used coding languages including R and MATLAB to conduct these analyses, and compare the outputs given by each of the programs. 

The Federal Reserve Board also offered him many opportunities to further his education, including a two-week course on R, which ended with a group research project on what makes a country’s Olympic endeavors successful. 

“That really helped me get exposed to a lot of econometrics, regression analysis, things like that, and we were able to present it to economists,” Igwemezie said. “That was probably one of the coolest things I got to do.”

Igwemezie says the Federal Reserve Board is the “number one place in the world for economics,” and he is looking to apply to go back next summer. 

“This experience really opened up what real economics is.”

On campus, Igwemezie says he has found a great support system and many opportunities as an economics major. He is a part of the Financial Literacy Outreach and Training (FLOAT) program as well as the Department of Economics’s Promoting Achievement and Diversity in Economics (PADE) program, run by Dr. Jessica Goldberg. 

“The PADE program has also been very influential,” Igwemezie says, “It’s helped me formulate plans for summer internships, but also plans for my career. It’s a program I would highly recommend.”

A fan of Afrobeats music, Igwemezie also has his own radio show on WMUC, which he runs in his free time.

Igwemezie is currently looking ahead to internship and co-op opportunities for his senior year. After graduation, he plans to work as a research assistant before applying to law school, where he hopes to utilize his background in policy, theory, and analytics.

Michael Igwemezie