What is Economics Challenge?
In the Minnesota Economics Challenge, teams of students representing high schools from 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.
What topics are in the Challenge?
The Economics Challenge tests student understanding and reasoning in three areas of economics: microeconomics, macroeconomics, and international economics/current events.
Who is eligible to compete?
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 content.
Students enrolled in a PSEO Economics class are not eligible to compete.
How does the Economics Challenge work?
Teachers register online to form teams of 4 students. These teams will then compete at a Regional Challenge competition or in the online division if they are unable to attend an in-person competition. At Regional Challenges, teams will complete three tests in each of the focus areas; each test has 15 multiple choice questions, and students will be able to collaborate on the International Economics test. Top scoring teams will then face off in a Quiz Bowl round to determine the division champion.
Winners from each Regional Challenge and the online division will advance to the State Competition held at the Federal Reserve Bank of Minneapolis in April.
What do the different divisions mean?
The Minnesota Economics Challenge has three divisions that schools can compete in to allow students of different abilities and backgrounds to participate. Each division is named for a famous economist, and corresponds to the size of the school and/or rigor of the economics program:
- Adam Smith Division: Teams are composed of students currently or previously enrolled in an AP, IB, Honors, or other advanced course in economics
- David Ricardo Division: Teams are composed of student currently or previously enrolled in a general/introductory economics or personal finance course (including economic concepts). Students may only compete in this division once; returning David Ricardo students must compete in the Adam Smith Division.
- Joan Robinson Division: Teams are composed of students attending a school with enrollment under 600 students. These teams may not advance past the state competition due to National rules.
How much does is cost to participate?
There is no registration or entry fee to participate in the Economics Challenge, however all teams need to invest time and commitment to prepare for the competition. Qualifying teams will be responsible for transportation costs to and from the state competition in Minneapolis.
When and where is the 2019 Economics Challenge?
Regional competitions for the Economics Challenge take place all over the state and online.
- Urban Regional Challenge (Invitation Only), March 13 at the Federal Reserve in Minneapolis
- Twin Cities Regional Challenge, March 14 at Saint Thomas University in Saint Paul
- Great Plains Regional Challenge, March 19 at Minnesota State University-Moorhead in Moorhead
- North Dakota Regional Challenge, March 19 at Minnesota State University-Moorhead in Moorhead
- Duluth Regional Challenge, March 20 at the College of St. Scholastica in Duluth
- Heartland Regional Challenge, March 22 at St. Cloud State University in St. Cloud
The State Competition is on April 3, 2019 at the Federal Reserve Bank of Minneapolis. The winning teams will participate in the written National Semi-Final exams at their school for a chance to compete in New York City at the 2019 National Economics Challenge, May 18-20. Only four teams will advance to compete at the National Economics Challenge.
How can we prepare for the tests or Quiz Bowl?
Practice tests and sample quiz bowl questions can be found at the Economics Challenge Resources page on our website.