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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: January 31, 2025
Late stage application: April 30, 2025
Registration deadline (for organizations)
July 20-29, 2025
International Economics Olympiad
📌 Note: Aralia is not the organizer of this competition. For official rules, deadlines, and updates, please refer directly to the competition organizer. Aralia provides listings and information about competitions for student reference. Aralia is an online education platform offering competition preparation classes to students worldwide.
Competition Details
1. Eligibility
- Must be under 20 years old as of June 30, 2025, and have a high school graduation date after December 1, 2024.
- National Selection: Check if your country is listed on the IEO website.
- If listed: Contact your national coordinator for details.
- If not listed: Use the IEO contact form to inquire; there may be potential partners not yet officially accepted.
- Invitation to IEO: Up to 5 top students from each country’s national competition are invited to compete internationally.
2. 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.
3. 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.
4. Previous years’ tasks
Resources related to previous years’ tasks can be found on the website.
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!
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:
- Financial Planning
- Banks and the Banking System
- Saving Money
- Borrowing Money, Credit
- Investment, Financial Instruments, and Risk Management
- Insurance Contracts and Insurance Market
- Financial Fraud and Ponzi Schemes
- Crowdfunding Platforms, donation-based, equity-based.
- Cryptocurrencies
Recommended Resources:
- The Economy 2.0: Microeconomics (Unit 9 “Lenders and borrowers and differences in wealth”)
- Personal Finance course by GFLEC
- Money Smart for Young Adults curriculum
- Personal Finance Curriculum by PWC (High School Lessons)
- Khan Academy courses on finance
Exam Format (60 minutes):
- 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:
- Economics principles and an economist’s worldview
- Microeconomics
- Macroeconomics
- International Economics
- Relevant research in Economics, such as Nobel Prize-relevant economics topics.
Recommended Resources:
- CORE Econ’s The Economy (free resource).
- Principles of Economics by N. Gregory Mankiw (supplementary).
Exam Format (235 minutes)
- 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.
3. Business Case
Team competition with oral presentations supported by slides in English. Business Case will run for 2 days: 1 day for preparation (research allowed, no external help), 1 day for presentation.
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.
Recommended Resources:
- Case solving: The Pyramid Principle, Crack the Case, The Trusted Advisor
- Data analysis: The McKinsey Way, Strategic Management, The Fifth Discipline, Thinking Fast and Slow, Case in Point, BCG on Strategy
- Presentations: Say It With Charts, Unfolding the Napkin, Visualize This, Slide:ology
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.