International Economics Olympiad
The International Economics Olympiad (IEO) is a global competition for high school students that focuses on economics, business, and finance. Participants compete individually and in teams through tests, case studies, and simulations. The competition aims to inspire and challenge students to explore economic theories and business practices.
Interested in the competition?
Competition Overview
Predominately senior high school students, but are open to any high school students
Eligibility
Free
Entry fee
Early bird: October 8, 2024 23:59
Regular: November 20, 2024 23:59
Registration deadline
November 20, 2024
Team formation deadline
December 2024
Preliminary Round
July - August 2025
Global Competition
Competition Details
1. Parts of Competition
The International Economics Olympiad (IEO) consists of three main components:
- Financial Literacy (Individual): Participants tackle a set of 25 multiple-choice questions that test their knowledge of various aspects of financial literacy.
- Economics (Individual): This segment combines open-ended and multiple-choice questions, focusing on both theoretical and practical applications of economics.
- Business Case (Team): Teams present solutions to a real-world business case to a panel of judges. Presentations are conducted in English.
2. Points
- Max Points: Economics (100), Financial Literacy (50), Business Case (50).
- Scores are normalized using Z-scores, with ties resolved by priority order: Economics > Financial Literacy.
- Team results are combined from individual and team scores, with tie-breaking following similar priority logic.
3. Previous years tasks
Resources related to previous years tasks can be found on the website.
Syllabus
1. Financial Literacy
This section tests understanding of fundamental financial concepts, analytical skills, and real-world application. Below are some topics that will be covered:
- Budgeting
- Banking systems
- Saving and deposits
- Credit and borrowing
- Personal financial management
- Investment and risk management
- Insurance
- Financial fraud and Ponzi schemes
Recommended Resources:
- The Economy by CORE Econ (Unit 10)
- GFLEC Personal Finance Course
- FDIC Money Smart for Young Adults
- PwC Financial Literacy Curriculum
Exam Format:
- 25 multiple-choice questions within 60 minutes.
- Scoring: +4 points for correct answers, -1 for incorrect answers, and no penalty for skipped questions.
2. Economics
Topics Covered:
- Microeconomics (e.g., demand/supply, market structures, labor market).
- Macroeconomics (e.g., growth, monetary policy, inequality).
- International Economics (e.g., trade, exchange rates).
- Environmental Economics and Nobel Prize-relevant topics.
Recommended Resources:
- CORE Econ’s The Economy (free resource).
- Principles of Economics by N. Gregory Mankiw (supplementary).
Exam Format:
- 20 Multiple Choice Questions (MCQs): Correct (+4), Incorrect (-1), Unanswered (0).
- 5 Open Questions (OQs): Graded out of 30 points each; only the top 4 are counted.
Grading Criteria for OQs:
- Partial and full credit awarded based on clarity, logic, and methodology.
- Language errors and unconventional solutions do not incur penalties if the solution is valid.
- Contradictory or incomplete solutions receive deductions.
3. Business Case
Day 1: Preparation
- Teams analyze the assigned business case and create a solution supported by slides.
- Contestants may utilize both online and offline materials for research, provided they do not seek help from other individuals.
- Deadline: Slides must be submitted by the deadline set by the Steering Committee. After submission, no edits are allowed.
Day 2: Presentation
- Teams present their solutions to a panel of judges in assigned groups.
- Top teams from each group advance to the Business Case Finals, where they re-present their solutions to a broader judging panel.
4. Moderation Process
To facilitate a smooth and effective moderation process, teams are encouraged to compile and present the following information:
- Contestant’s Information: Name of the contestant whose solution is under review.
- Tasks to Be Reviewed: Specific task numbers or sections to be reevaluated.
- Grading Parameters: The relevant grading criteria associated with the tasks under review.
- Annotated Contestant’s Solution: Provide the solution text with underlined sections not evaluated according to the grading parameters.
5. Recommendation for Teams
- Prepare Early: Review the solutions and grading parameters well before the moderation session begins to identify potential discrepancies.
- Focus on Evidence: Highlight clear misalignments between the grading parameters and the marks awarded.
- Stay Objective: Keep discussions centered on factual comparisons rather than subjective opinions.
How to participate
Step 1: Find Your National Competition
- Visit the Participating Countries section of the IEO website.
- If your country is listed: This means the IEO has a long-term partner in your region.
- If your country is not listed:
- Contact the IEO team via email or the Contact Us form at the bottom of the website.
- The team will gladly share information about any available partners in your country.
Step 2: Contact Your National Organizer
Reach out to your national organizer to get details about the local competition, including registration, rules, and preparation materials.
Step 3: Prepare and Compete
- Study the required material and practice hard to excel in your national competition.
- Aim to win and secure your spot in the international round of the IEO.
Step 4: Join the IEO
- Represent your country in the IEO.
- Meet like-minded students from across the globe.
- Immerse yourself in an enriching, competitive, and enjoyable experience!
