Indiana Economics Challenge

Sponsored by: Goldman Sachs Foundation

2008 winners


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What Is the Indiana Economics Challenge?   

The Indiana Economics Challenge is an opportunity for teams of four high school students (four teams per school limit in one or both divisions) to demonstrate their knowledge on a broad array of economics topics in an atmosphere where economics knowledge is tested and recognized and where competing is FUN.  Indiana students enrolled in high school economics or other courses in which introductory economics concepts (social studies, business, personal finance) are taught for credit sometime during the 2007-08 academic year (taught by a secondary teacher) are eligible to compete.  Students compete simultaneously at three Indiana sites and participate in one of two divisions: Adam Smith or David Ricardo.

The Divisions  
The Adam Smith Division is for students enrolled in Advanced Placement (AP Micro, AP Macro, or AP Micro and Macro), International Baccalaureate (pre-IB and IB), honors, two-semester, or any other advanced courses in economics (including courses taught by a secondary teacher where students earn college credit).  Students who have taken more than one semester of economics must compete in the Adam Smith Division.  Students who have previously participated in the Economics Challenge must also compete in the Adam Smith Division.  Teams of four students are tested in areas of microeconomics, macroeconomics, international economics and current events using a multiple-choice, pencil and paper test for three rounds.  In Rounds 1 and 2, each team member completes the tests with the lowest score being dropped.  In Round 3, the multiple-choice test is taken by team members together.

The David Ricardo Division is for students enrolled in one-semester (or less) general economics courses or courses which include introductory economic concepts (social studies, business, personal finance, etc.)  Like the Adam Smith Division, students take a multiple-choice pencil and paper test for three rounds.  Students are tested in the same areas as the Adam Smith Division; however, the questions for the David Ricardo Division may have a greater emphasis on economic application and less emphasis on economic theory than the questions for the Adam Smith Division.  In Rounds 1 and 2, each team member completes the tests with the lowest score being dropped.  In Round 3, the multiple-choice test is taken by team members together. 

How are winners determined?  
Following the first three rounds, the top two teams in each division at each site meet in an oral Quiz Bowl to answer questions on a wide variety of economics topics.  The winning teams of the oral Quiz Bowl from each division at each site have their written test scores compared to determine the state champions.  State champions in each division will compete on-line against teams from other states in the Mid-West Regional Championship.

2008 Indiana Economics Challenge Dates

Indiana Competition
Date/Time         Tuesday, April 15, 2008
                             9:00a.m. - 2:00p.m
Locations           Indianapolis, Mishawaka, New Albany

Mid-West Regional Competition
Date/Time           Tuesday, April 29, 2008 (online)

National Competition
Date                     May 17-19, 2008
Location               New York City

What Are the Costs?

The registration fee is $30 per team.   Transportation to the state competition is the responsibility of the participants.  Transportation and accommodations for the national competitions are paid for by the sponsors.

 
Prizes and Awards

First Place – each divisional site

  • $200 to the winning teams
  • plaque to the winning teams
  • medals to team members
  • special award for teacher coaches

Second Place – each divisional site

  • $20 Barnes & Noble gift certificates for team members and teacher coaches, ribbons for team members and teacher coaches

All Participants and Teacher Coaches

  • Certificates of participation and other prizes

Mid-West Regional Champions each receive $1,000 savings bonds; runners-up each receive $500 savings bonds.  National Champions each receive $3,000 savings bonds; runners-up each receive $1,500 savings bonds.