What Is the Economics Challenge?
The Indiana Economics Challenge is an opportunity for teams of 4 high school students to demonstrate their knowledge on a broad array of economic topics in an atmosphere where economics knowledge is tested and recognized and where competing is FUN! Any Indiana high school student enrolled in a public, private or home-based school during the 2018-19 academic year is eligible to compete (no economics course is required). Students may also compete as part of an organization, club or before/afterschool program. Teams compete in one of two divisions - David Ricardo or Adam Smith. Teams travel to one of three Indiana sites for the face-to-face state competition, where they vie for a spot in the National Semifinals!
How to Participate/How Winners are Determined
The Indiana Economics Challenge will be held from 9:00am - 2:30pm on April 11, 2019.
Teams compete at one of 3 sites:
- Indianapolis – Conner Prairie, Fishers
- South Bend – IU South Bend
- New Albany – IU Southeast
At all sites, the state competition format is as follows: Round 1 – Microeconomics; Round 2 – Macroeconomics; Round 3 - Potpourri: including International Economics and Current Events.
In both divisions, teams of 4 students are tested over 3 rounds using multiple-choice, pencil and paper tests. In Rounds 1 and 2, each team member completes the tests with the lowest score being dropped. In Round 3, a multiple-choice test is taken by team members together. Following the first 3 rounds, the top 2 teams in each division at each site meet in an oral Quiz Bowl to answer questions on a variety of economics topics. The 2 teams meeting in an oral Quiz Bowl must be from different schools.
The oral Quiz Bowl winning teams from all sites have their written test scores compared. The oral Quiz Bowl winning team from the David Ricardo Division and the Adam Smith Division with the highest written test scores for all 3 sites are crowned the state champions.
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.) Courses must be taught be a secondary teacher. 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.
The Adam Smith Division is for students enrolled, currently or previously, in courses labeled 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). Courses must be taught be a secondary teacher. Students who have participated previously in the Economics Challenge must compete in the Adam Smith Division. This is also the division for home-schooled students.