In the Minnesota Economics Challenge, teams of students representing high schools across the state compete in a series of challenging tests of their economic understanding and reasoning abilities. Participants compete in both individual and team categories. The state competition is held at the Federal Reserve Bank each spring with an opportunity for winning teams to earn a trip to nationals in New York City in May. Visit the National Economics Challenge homepage for more information on the national competition.
Who is eligible?
MCEE follows the national rules and eligibility guidelines. All high school students are eligible. No formal course in economics is required. Students who have competed previously must compete at the Adam Smith level unless they are competing in the Joan Robinson (small school) division.
When is the challenge?
The Economics Challenge has three components: the online challenge, the regional challenge, and the state competition.
Registration for the online challenge opens January 1, 2017. The online competition ends March 15, 2017.
In-person regional challenges:
Heartland Regional Challenge - March 3, St. Cloud State University
Twin Cities Regional Challenge - March 13, University of St. Thomas
Great Plains Regional Challenge - March 14, MSU-Moorhead
Urban Regional Challenge - March 14, Minneapolis (by invitation only)
Mankato Regional Challenge - Date TBD (depends on number of teams interested)
To compete in a regional challenge, please complete the Economics Challenge Registration form.
The State Competition is March 29, 2017, at the Federal Reserve Bank of Minneapolis.
How is the Challenge Set Up?
High school student teams 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 in one of the following divisions:
Small School (enrollment under 600) -- Joan Robinson Division
Large School -- David Ricardo Division
Honors, Advanced Placement, International Baccalaureate, or College-in-the-Schools -- Adam Smith Division
There are four rounds of competition:
Microeconomics individual 15-question, multiple-choice test
Macroeconomics individual 15-question, multiple-choice test
International Economics and Current Events team consensus 15-question, multiple-choice test
The top two teams in each division after round 3 face off in action-packed quiz bowl round. The previous scores are erased, and the winner takes all!
Each team consists of 4 members. The sum of the top three individual scores on each team comprises the team score in Rounds 1 and 2. Members compete as a team in Round 3, submitting one test. Tests are scored with -5 points subtracted for wrong answers and no points given for questions left unanswered.
Of these three State division winners, the two teams representing the Adam Smith and David Ricardo divisions move on to the national semi-finals. The top four scoring teams in the semi-finals in each division move on to compete in the National Economics Challenge held each May in New York City.
What are the costs?
Costs for teams 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 regional winner.
Other costs include time and commitment to preparing for the competition. There is no team or individual entry fee.
How does my team enter the challenge?
Teams can compete online via the Economics Challenge portal or at one of the regional center-based competition. If you're interested in competing in a regional competition, please fill out the Economics Challenge Registration form and indicate which competition you're interested in and someone will contact you with more information.
For the online competition, teachers register their teams at econchallenge.unl.edu.
Minnesota Economics Challenge is generously supported by The Mosaic Company and is hosted by the Federal Reserve Bank of Minneapolis.