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When the Newsroom first spoke with Derek Walker in 2009, the sophomore had already demonstrated his knowledge of economics. Walker and several classmates had just returned from the Boston Federal Reserve’s Fed Challenge Competition, where they had to analyze economic information and develop courses of monetary action.

Since then, Walker transferred to Yale to pursue his studies in economics, interned with the U.S. Treasury and with Columbia Business School, and held a summer position as a corporate treasury analyst with Goldman Sachs.

Walker credits his two years at Simon’s Rock and his close relationships with professors for the opportunity to develop his intellectual interests. “As a driven, curious, and self-directed student, Simon’s Rock was a great foundation for me.”

Walker continued, “By transferring to Yale I got the best of both worlds. Simon’s Rock gave me the freedom to develop intellectually under the guidance of a stellar faculty, and Yale gave me access to its expansive resources.”

Walker got involved with the Yale Economic Review, a student-edited and managed journal, and the Yale Undergraduate Economics Association, where he became co-president.

He also revisited a class he took at Simon’s Rock, Economics of the Financial Crisis. With another Yale student, he drew on economics professor and alumnus Dan Nielson’s expertise. Together the three crafted their ideas into a paper on hypothecation (pledging collateral to secure a debt) and eventually presented the paper at the annual conference of the Eastern Economics Association.

Accustomed to the availability of professors at Simon’s Rock, Walker knew how to approach faculty members who could advise him on projects. Working on the paper he presented at the Eastern Economic Association, Walker sought out a professor in the Yale School of Management who was familiar with the relatively obscure topic of hypothecation. Drawing on expertise from both institutions was crucial for Walker to fully develop his ideas.

“Simon’s Rock and Yale have complimented each other really well. By the end of my sophomore year at Simon’s Rock, I felt like I had gotten to the point where I could work fairly independently and would be able to seek out the resources I needed,” Walker explains. “As an economics major, Yale was able to offer me more of these resources.”

The best of both schools
Walker’s time at Simon’s Rock also engendered another sensibility he’s making use of: Understanding that sometimes the right path isn’t the most conventional one. That’s where taking a semester off to intern at the Treasury’s Office of Economic Policy comes in.

Walker’s been interested in economic policy ever since studying the financial crisis at Simon’s Rock. Now he’s part of a team that analyzes and reports on economic developments in the U.S. and around the world.

“Ultimately, the U.S. debt downgrade was what motivated me to come here this fall,” Walker says. “This been a great opportunity and I’m confident that I would not be at the Treasury now if I hadn’t gone to Simon's Rock.”

His work at the Treasury is focused on two issues: How households have responded to the economic crisis, and how the quality of mortgages has changed since the beginning of the decade. In addition to his analysis, he also attends congressional hearings on economic issues.

After graduating from Yale, Walker looks forward to working either in economic policy or in the financial sector. “In terms of graduate school, I'm leaning towards getting a JD/MBA—the last few years have highlighted the intersection between law and finance and having some level of fluency in both can be really helpful, particularly because I’m interested in financial restructuring.”