Teacher Resources:
Prepare for the Competition
Competition Outline and Rules
The Economics Olympiad is open to all students ages 14-20 from any secondary school, including home-schooled students. Participants are eligible until they turn 21. The Olympiad welcomes high schoolers with an interest in economics, without requiring prior formal education in the subject, making it accessible to any student eager to explore economic principles.
To participate, students must apply through a teacher at their school or homeschool parent registered as an EO Coordinator. This structure ensures students have the necessary guidance and resources to fully engage in the competition, creating a meaningful and enriching educational experience in economic education.
Schedule
| Registration Open | November 2025 |
| Registration Close | January 31, 2026 |
| School Round | February 15-28, 2026 (Online) |
| Intercontinental Round | May 22-25, 2026 (Guatemala City, Guatemala) |
| International Final Round | August 10-14, 2026 (Ancient Olympia, Greece) |
Curriculum
Our curriculum meticulously aligns with standard economic textbook terminology, ensuring a rigorous and comprehensive educational experience:
Economic Principles and History
- Economic Methodology: Delving into the principles and scope of economics, grounded in foundational concepts.
- History of Economic Thought: Tracing the evolution of economic theory from early thinkers to the Marginal Revolution, and further exploring post-Marginal developments in economic thought.
Microeconomics
- Consumer Behavior and Market Demand: Analyzing consumer choice, demand determinants, and risk preferences using utility theory.
- Production and Costs: Examining firm behavior, cost structures, and supply decisions within various market conditions.
- Market Structures: Differentiating between perfect competition, monopoly, monopolistic competition, and oligopoly, including regulatory and antitrust implications.
- Factor Markets and Distribution: Exploring the allocation of resources and distribution of income in factor markets.
- Market Failures and Strategic Behavior: Addressing externalities, public goods, game theory, and behavioral economics insights.
Macroeconomics
- National Income and Price Measurement: Understanding GDP composition and inflation measurement.
- Economic Growth: Investigating determinants and models of long-term growth.
- Monetary and Fiscal Policy: Exploring the roles of central banks, money supply, and governmental budgeting in economic stabilization.
- Business Cycles and Unemployment: Analyzing fluctuations in economic activity and labor market dynamics.
International Economics
- Trade Theories and Policy: Examining comparative advantage, trade barriers, and policy effects on international trade.
- Open Economy Macroeconomics: Assessing exchange rates, balance of payments, and the global financial system.
- Integration and Policy: Understanding the economic implications of regional trade agreements and common markets.
Contemporary Economic Issues
- Global and Regional Economic Dynamics: Insight into recent developments in global and regional economies.
- Economic Policy Analysis: Evaluating the impact of fiscal, monetary, and trade policies on economic performance.
Financial Literacy
- Interest and Investment: Basics of interest calculation, including simple and compound interest, and an introduction to investment principles.
- Financial Markets and Instruments: Overview of financial markets, securities, and other investment vehicles.
- Risk Management: Fundamentals of insurance and strategies for managing financial risk.
- Inflation and Purchasing Power: Understanding the causes and consequences of inflation on money’s value.
This curriculum is designed to provide a solid foundation in economics, mirroring the depth and rigor found in leading textbooks like those by Mankiw, ensuring participants are well-prepared for both the Economics Olympiad and their academic pursuits.
Study Resources
RECOMMEND 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 and 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 and 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 and 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 Wealth and Prosperity by James D. Gwartney, Richard L. Stroup, Dwight R. Lee, and Tawni H. Ferrarini
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. Available from Poptential >
ONLINE SOURCES
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.
