EO Global Challenge

The Economics Olympiad Global Challenge (EOGC) is your chance to shine on the global stage, showcasing your economic prowess and critical thinking skills among the brightest young minds worldwide!

Designed specifically for high-school students aged 14-20 from countries without a national Economics Olympiad, the EOGC aims to raise economic literacy globally, empowering the next generation with essential economic knowledge and analytical abilities. Through a dynamic combination of rigorous online exams and an engaging oral examination leading up to the prestigious International Final Round, the competition offers students unparalleled international exposure and the chance to connect with passionate peers.

By participating, you not only enhance your academic profile but also actively contribute to spreading economic understanding and fostering informed decision-making worldwide. Step up, stand out, and join a global community dedicated to transforming the future through economics!

Stages of the competition:

Stage 1 | Multiple-Choice Examination: June 23 – June 29, 2025

• Conducted online via the EO testing system (details about testing system access will be sent upon registration confirmation).
• Exam consists of 50 multiple-choice questions with a time limit of 40 minutes.
• Participants complete the test independently and are only allowed to use scrap papers, a pen/pencil, and a calculator.
• The best-performing students advance to the next stage, the Oral Examination.

Stage 2 | Oral Examination: July 2, 2025

• Conducted online and only for the best-performing students from Stage 1.
• The best-performing participants will advance to the 2025 International Final Round based on the Participant Tiers and Advancement Table (below).

Why participate?

• A chance to qualify for the 2025 International Final Round (August 21 – 24, 2025 in Ancient Olympia, Greece)
• Compete with the best young economic minds worldwide
• Gain recognition and boost your academic & career prospects
• Challenge yourself with thought-provoking economic problems

Participant Tiers and Advancement:

Registration:

Country classifications are based on the Human Development Report (pages 288–291).

Full scholarships will be awarded to the students who qualify for the International Final Round through the Global Challenge. The scholarships will cover in-country transportation as well as room and board for the duration of the International Final Round.

Participants must rely exclusively on their own knowledge and may not conduct internet searches or receive external help from teachers, tutors, peers, or any other source for the duration of the test. The Multiple Choice Examination consists of 50 questions to be completed within 40 minutes, while participants who advance to the Oral Examination will have 7 minutes to answer one randomly assigned question. Each participant may enter the competition only once, and a stable internet connection is required throughout the examination.

Participants are prohibited from switching browser tabs or windows during the exam; doing so may result in immediate disqualification. Advancement to the Oral Examination requires a minimum score of 50% on the Multiple Choice Examination. In case of a tie, the participant who completed the exam in the shortest time will advance.

Violations of any rules will result in immediate disqualification without eligibility for a refund. No refunds will be issued after registration due to rule violations or misunderstandings regarding competition regulations. Participants are responsible for carefully reviewing all rules before registering.

TEXTBOOKS

Principles of Economics, 7th edition – by N. Gregory Mankiw

With its clear and engaging writing style it continues to be the most popular and widely-used economics textbook among today’s students and the officially recommended textbook of the Economics Olympiad. In this textbook, professor Mankiw included real-life scenarios, useful facts, and many examples of economic concepts that play a role in the decisions you make every day.

“I have tried to put myself in the position of someone seeing economics for the first time. My goal is to emphasize the material that students should and do find interesting about the study of the economy.” – N. Gregory Mankiw.

Economics – by Paul Samuelson & William Nordhaus

Samuelson’s text was first published in 1948, and it immediately became the authority for the principles of economics courses. The book continues to be the standard-bearer for principles courses, and this revision continues to be a clear, accurate, and interesting introduction to modern economics principles. Bill Nordhaus is now the primary author of this text, and he has revised the book to be as current and relevant as ever.

Principles of Economics – by Robert Frank, Ben Bernanke

With engaging questions, explanations and exercises, the authors help students relate economic principles to a host of everyday experiences such as going to the ATM or purchasing airline tickets. Throughout this process, the authors encourage students to become “economic naturalists”: people who employ basic economic principles to understand and explain what they observe in the world around them.

Modern Principles of Economics – by Tyler Cowen, Alex Tabarrok

From the authors of the popular blog, The Marginal Revolution, Modern Principles of Economics engages you in a way that makes it easier to understanding the broader economy. Working toward developing your economic way of thinking, the authors focus on modern content and modern delivery, teaching economics in a way that makes it more memorable for you.

Common Sense Economics: What Everyone Should Know About Personal and National Prosperity by James D. Gwartney, Richard L. Stroup, Dwight R. Lee, Tawni H. Ferrarini, Joseph P. Calhoun, Randall K. Filer

This a comprehensive and accessible guide to understanding the key principles of economics and their application to real-world scenarios. This book distills complex economic concepts into understandable and practical insights that are relevant to everyday life. Thanks to the work of our partners at the Economic Fundamentals Initiative, this book is accessible at zero price in multiple languages. Designed to be engaging and straightforward, the book uses clear examples and avoids technical jargon, making it accessible to readers without a background in economics. It serves as an invaluable resource for high school students, educators, and anyone interested in gaining a solid foundation in economic principles and their practical applications towards achieving financial success and understanding the broader economic world.

ONLINE RESOURCES

In addition to the high quality textbooks listed in the previous section, we strongly encourage students to explore some of the following online resources:

• Khan Academy: Offers comprehensive lessons on economics and finance topics like microeconomics, macroeconomics, and personal finance. Content is accessible in several languages, suitable for a global audience.
  Visit Khan Academy
• European Central Bank’s Educational Resources: Features materials to help students understand the economy, finance, and the ECB’s role, available in multiple European languages.
  Visit European Central Bank’s Educational Resource
• Federal Reserve Education: Offers educational materials on the Federal Reserve, economics, and financial education, primarily in English but can be translated.
  Visit Federal Reserve Education
• Marginal Revolution University (MRU): Provides free online economics courses covering a wide range of topics, from the basics of supply and demand to the intricacies of international trade. MRU’s engaging video content makes complex concepts accessible to high school students in multiple languages through its subtitles.
  Visit Marginal Revolution University
• Foundation for Economic Education (FEE): Offers articles, courses, and seminars on economics, entrepreneurship, and related topics, aimed at inspiring young individuals about the principles of a free society. FEE’s resources are designed to be engaging and informative, making economics education both accessible and impactful.
  Visit Foundation for Economic Education
• Economic Fundamentals Initiative (EFI): An initiative that aims to provide accessible and engaging economic education to a broad audience, including high school students. Through a variety of resources in multiple languages, EFI seeks to demystify economics and encourage critical thinking about economic issues.
  Visit Economic Fundamentals Initiative

Each of these resources offers unique opportunities for students to explore and deepen their understanding of economics and finance, catering to different learning preferences and language needs.