Economics Challenge Program Description
Teams of students representing high schools are invited to compete in a series of challenging tests of their economic understanding and reasoning abilities. Participants compete in both individual and team categories.

Who is Eligible?
All high school students are eligible. No formal course in economics is required, but students must participate during the year in a course that contains economics.

When is the Challenge?
An Economics Challenge is held at each Center for Economic Education in the spring of the year. Visit our (calendar of events for competition dates and locations). The national level competition is held in May.

How is the Challenge Set Up?
Schools compete in one of the following divisions:

• Small School -- (Joan Robinson Division)
• Large School -- (David Ricardo Division)
• Advanced Placement, International Baccalaureate, or College-in-the-Schools -- (Adam Smith Division)

There are four rounds of competition:

Round 1
Microeconomics individual 15-question, multiple-choice test

Round 2
Macroeconomics individual 15-question, multiple-choice test

Round 3
International Economics and Current Events team consensus15-question, multiple-choice test

Round 4
General top two teams in each division after round 3 face off in fast-answer, winner-take-all buzzer round

Each team consists of 3 to 5 members. The sum of the top three individual scores on each team comprises the team score in Rounds 1 and 2. Round 3 answers are a team consensus. Tests are scored with points subtracted for wrong answers and no points given for questions left unanswered. The top two schools in each division at the end of Round 3 compete in the "lightening" Round 4 buzzer competition. For this round, previous team scores are erased and the winner takes all.

Division winners at each Center's Economics Challenge progress to play-offs to determine a state champion in each division. The state champion in the advanced placement division and the highest scorer in large school/small school combined division advance to a multi-state regional competition leading to the national championship, held in New York City in May.

What are the Benefits to Students?

• The Challenge increases understanding of economic concepts and an appreciation for economic issues.
• The Challenge is an opportunity for an enjoyable and stimulating activity matching your team's understanding of economics with teams from other schools.
• Awards are given to top scoring individuals and to the top teams in each division.
• Participants receive a memento t-shirt in recognition of their participation and a "free lunch."
• Two state champion teams advance to multi-state regional competition, with the top regional teams receiving an all-expense paid trip to New York City to participate in the national championship.

What are the Benefits to Teachers?

• The Challenge motivates independent study and stimulates interest in economics and other social studies curricula.
• The Challenge enhances debate, discussion, and analytic skills.
• Teachers have the opportunity to interact with their peers during the Challenge.

What are the Costs?

Costs include transportation to and from the contest located at a hosting Center's University, and the travel costs to the state competition, if the team is a divisional winner.

Other costs include time and commitment to improving economic understanding.

There is no team or individual entry fee.

How to Enter?

Contact your closest Center for Economic Education for registration information.

History and Sponsorship

Economics Challenge originated at the Center for Economic Education at the University of Minnesota, Duluth and has been adopted by the National Council on Economic Education as its flagship program for high school students.

Economics Challenge in Minnesota is made possible with funding from Ameriprise Financial Services, Inc., in conjunction with specific team sponsorship by local banks.