Wall Street in Brooklyn
The Department of Economics in the School of Business runs a financial market simulation lab that offers students a virtual trading platform with simulations of international trading markets. The lab, launched on October 2016 in the Carroll Street building, allows students to operate real-time, streaming platforms that feature commodities, global equities, futures, options, bonds and more. The lab allows students to simulate the financial markets and can prepare students for certification in financial professions.” With a School of Business on the rise with new offerings that include a new BS in Financial Economics, the new lab is expected to attract and retain students interested in finance careers.
The lab features the StockTrak financial simulation software and the University Finance Labs Rise Display Screen that will simulate the Wall Street environment. Through Stock Trak and in collaboration with the Securities Trading Corporation (STC), a leading Wall Street Series 7 licensing exam prep service, MEC students will be able to prepare for the Series 7 Exam at a deeply discounted student price, as well as other professional certification exams in the finance industry.
The financial market simulation lab is meant to enhance experiential learning in the financial curriculum, give students a connection between theoretical knowledge and real-world experience and to allow them to compete in the marketplace with other students from around the country. At least two other City University of New York campuses are among 345 campuses around the country that have financial simulation labs.
In spring 2017, students competed in stock trading and won significant money prizes. In collaboration with the School of Professional and Community Development (SPCD), the lab will also be used to provide training to the community on investments and trading in the financial markets. Beginning from spring 2018, workshops are being offered to the broader Brooklyn community, for which certificates are anticipated.