The International Economics Olympiad (IEO) is an annual global competition in economics, business, and finance for high school students, founded in 2018. It is one of the most prestigious economics competitions globally. Participating countries can send a team of up to five students along with one or two team leaders. The students are evaluated in Economics, Finance, and business case analysis. Over sixty countries participate in IEO.
History The Olympiad was first held in 2018 in Moscow, Russia, with participation from 13 countries.Rossiyskaya Gazeta, 17 September 2018 The number of countries increased significantly at the second edition in 2019 in Saint Petersburg.
In 2020, when the COVID-19 pandemic disrupted most international educational events, the IEO moved to an online format. Organizers introduced a system of remote supervision using 360-degree video and screen-sharing tools to maintain exam integrity. The program continued to include social and cultural activities in virtual form, and this online model was later adopted by several national competitions. The 2021 Olympiad was again conducted online, hosted virtually by Latvia.
From 2022 onward, the IEO began a gradual return to on-site events — initially through a regional gathering held in Turkey during the competition hosted by China,Meet the Mumbai student who won gold at the International Economics Olympiad!, 24 August 2022. The Times of India. and later through official in-person participation in Volos, Greece, in 2023.
In 2023, the IEO International Board approved several organisational changes. The Finance component was revised, replacing the interactive investment simulator with a multiple-choice financial literacy test. The Board of Trustees was reorganized into an Advisory Board joined by prominent economists, including Eric Maskin and Daron Acemoglu.
Subsequent events were hosted by China (2022); Volos, Greece (2023); Hong Kong, China (2024); and Baku, Azerbaijan (2025).
The next edition is planned for Tokyo, Japan, in 2027.
Year Host Format Countries/Regions Participants Webpage 2018 Moscow, Russia On-site 13 64 2018.ieo-official.org 2019 Saint Petersburg, Russia On-site 24 131 2019.ieo-official.org 2020 Astana, Kazakhstan Online 29 133 2020.ieo-official.org 2021 Riga, Latvia Online 44 217 2021.ieo-official.org 2022 China Hybrid 41 201 2022.ieo-official.org 2023 Volos, Greece Hybrid 47 223 2023.ieo-official.org 2024 Hong Kong,China Hybrid 50 237 2024.ieo-official.org 2025 Baku, Azerbaijan Hybrid 52 258 2025.ieo-official.org 2026 Shenzhen, China On-site 55 263 2026.ieo-official.org 2027 Tokyo, Japan On-site TBD TBD TBD
Competition format The IEO consists of two main parts: Economics and Finance: an individual written exam assessing students' understanding of basic economic and financial (including financial literacy) concepts and models, ability to apply them, their curiosity about the fields, and analytical skills; Business Case: a team round where students analyse a real-world economic or business problem and present solutions.
Tasks are prepared by international academic committees and assessed by an independent jury. The official language of the Olympiad is English.
Participation and organization Each country is represented by one national team consisting of up to five students and one or two team leaders. Teams are selected through national competitions orginised by the sending organisations in each country or territory, whose application was approved by the IEO Executive Board. As of 2026, 74 countries and territories have taken part in the Olympiad.
Awards
Awards at the IEO are based on the combined results of all three parts of the competition. Individual contestants may receive gold, silver, or bronze medals, which are awarded by the International Board following recommendations from the Jury; the total number of medals cannot exceed half of all invited participants. Teams are ranked separately, and gold, silver, and bronze statuettes are given for overall team performance according to a scoring formula defined in the official syllabus. The Jury may also grant special prizes or certificates for exceptional performance in a specific task or round. All contestants and team leaders receive certificates of participation. Year Gold Team Trophy Silver Team Trophy Bronze Team Trophy Absolute Winner 2018 Latvia Russia Brazil, Kazakhstan Vairis Stramkalis 2019 Brazil China China Andrew Pei 2020 Brazil Indonesia Russia Alexander Lutsenko 2021 Brazil Canada United States Andy Wei 2022 United States Brazil Canada Martin Thaw 2023 Brazil Indonesia Canada Daniel Zhang 2024 Singapore Chinese Taipei Russia Pathak Pranav 2025 Singapore Canada China, Russia Marcus Cheong , Spencer Ong 2026 China China Canada Arthur Spuri
Notable contributors
Economists including Nobel laureates Eric Maskin, Daron Acemoglu and N. Gregory Mankiw have appeared as guest speakers during the Olympiad’s academic program.
See also International Mathematical Olympiad International Physics Olympiad International Olympiad in Informatics International Chemistry Olympiad International Linguistics Olympiad International Olympiad on Astronomy and Astrophysics International Science Olympiad
References
External links IEO official website