Frequently Asked Questions

2022/23 School Year FAQs:

General Questions

What is the Economics Challenge?

The Economics Challenge is a capstone experience for students in grades 9-12 to apply classroom learning on economic topics through a series of challenging tests in macroeconomics, microeconomics, and international economics/current events. Participants compete in both team and individual exercises.

What topics are in the Economics Challenge?

The Economics Challenge tests student comprehension and reasoning in the fields of macroeconomics, microeconomics, and international economics & current events.

Who is invited to the Urban Economics Challenge?

The Urban Economics Challenge serves schools where 60% or more of students qualify for Free and Reduced Price Lunch and are students are color, as reported by state educational agencies, in the Twin Cities metropolitan area. 

Those schools who qualify under this criteria receive an invitation to participate.  If you have not received an invitation, but feel your school qualifies, please contact us at mcee@umn.edu

Competition Details

Who is eligible to compete?

*Students enrolled in a PSEO Economics class are not eligible to compete. 

For the National Economics Challenge, facilitated by the National Council for Economic Education, specific Rules and Eligibility details can be found here.

How many teams can I register?

What do the different divisions mean?

In order to allow students of different abilities, interests, and backgrounds to participate in a fun and challenging environment, the Economics Challenge shall have four divisions corresponding to school size and/or program rigor.

*The Sadie Alexander division is a non-competitive division intended to introduce schools and students to the Economics Challenge program. Participating teams are ineligible to advance to the State or National Competitions. Students will complete the exams corresponding to the competitive division in which they would otherwise be a participant; the Quiz Bowl round is not included. Teachers may only participate in this division once.  To better support new Competition teachers, on request, MCEE can assist with transportation and/or substitute teacher costs.

What is the format of the Economics Challenge?


Regional Competitions

What are the rules of the Economics Challenge?

Regional Competition Rules

Please Note: The in-person competitions will have paper tests and proctored by MCEE/Center Staff.

Qualifying for the State Competition


Quiz Bowl 


How does scoring on the tests work?


If one or both teams have only have 3 members:


If both teams have 4 members:

How much does it cost to participate?

There is no registration or entry fee to participate in the Economics Challenge, however, all teams will need to invest time and effort to prepare for the competition. Qualifying teams will be responsible for transportation costs to, and from, the in-person competitions venues. Please connect with MCEE if this hinders your participation in the competition. 

Where are the regional competitions held?

Visit the registration page for specific dates and information.

When is the next competition?

Visit the registration page for specific dates.

When and how do I register for a competition?

Visit the registration page which includes dates, forms, instructions, and deadlines for each competition, both regional and online.

How can I prepare for the competition?

We recommend reviewing sample tests and practicing quiz bowl questions.

Ready Assessments is a free educational technology tool where you can easily access ready-made K-12 personal finance and economics tests and quizzes on EconEdLink.org.  This tool offers:

Are there prizes?

Regional Competition:

State Competition:

Do students in the online competition need to take the test at the same time or on the same day?

We recommend that you try to have all team members test simultaneously, but we recognize that isn't always possible. It's not necessary for all students on a team to take the test at the same time.  *Please Note: Students must test within two days of one another.

What can we expect from the in-person state competition? 

The competition day begins at 8:30 am with a continental breakfast and will conclude by 2:00 pm, with lunch served in the afternoon.

Note: This tentative outline may be subject to change.