Top 8 Economics Competitions for High School Students in 2024
As a high school student, looking for some early exposure to the field of economics, participating in an economics-oriented competition is one of the best ways to gain hands-on experience in learning basic concepts. Most of these competitions will require team participation, so it can also be a good opportunity for you to work on your social skills and learn from other like-minded students.
Moreover, participation and good performance in these competitions will help you stand out when applying to an economics program at a top university, as admissions officers look for profiles with extra-curricular activities.
In this blog post, we have curated the top 8 economics competitions that every high school student should consider, providing insights into their formats, eligibility criteria, and potential benefits.
1. Wharton Global High School Investment Competition (2024-25)
Hosted by the Wharton School of Business, the Global High School Investment Competition is a free, engaging, and rewarding challenge. As part of the competition, you are required to build and manage a portfolio with $100,000 in virtual cash for a potential client.
You are provided with a list of approved stock and exchange-traded funds (ETF) lists (domestic and international) and given access to the Wharton Investment Simulator (WInS). You must use your financial and business analysis skills to invest and make profits.You are not expected to generate the maximum profit because the winner is not chosen simply based on the returns but also on the execution of strategies chosen to make decisions.
An added bonus is the 10-week crash course on investing, business analysis, pitch creation, and portfolio building!
Location: Virtual pitching rounds and Global Finale and presentation at UPenn
Cost/Prizes: Free. You will receive participation certificates, and there’s a complimentary spot in the Wharton Online Summer Program for winning teams
Dates: September 2024 to April 2025
Application Deadline: Registrations open on June 17 and close on September 13, 2024. Students can’t apply directly and their application needs to be submitted by their advisor, who must be a teacher/educator at the high school of their students’ team
Eligibility: Open to all high school students residing in the US.
2. The National Economics Challenge
Sponsored by the Council for Economic Education, the National Economics Challenge (NEC) sees participation from almost 10,000 students every year! You will get to participate in one of two divisions: The Adam Smith division, which is for advanced placement, baccalaureate, honors students, and returning competitors, or the David Ricardo Division, which is for students participating in the NEC for the first time and who have taken no more than one economics course.
You will be familiarized with economic analysis and problem-solving skills through this competition, which tests your knowledge of micro and macroeconomic principles, and of the world economy in general.
Once you qualify for the First Round National Challenge and National Semi-Final Level after participating in the NEC in your state, your team with three or four members, is rewarded with a fully funded trip to NYC, where you will challenge teams from other states.
Location: State-wise, National Semifinals, and Finals are held in NYC
Cost/Prizes: Free. Cash prizes of up to $1,000, awards
Dates: State-wise dates vary, the National Semifinals will likely be in the last week of April 2025 and the National Finals will be in late May or early June 2025 (tentative, based on the 2024 program)
Application Deadline: Varies from state to state
Eligibility: All high school students residing in the US
3. The National Personal Finance Challenge
Another prestigious event organized by the Council for Economic Education, the National Personal Finance Challenge, is a free competition that aims to educate students on financial literacy and test their application of personal finance concepts and skills in their day-to-day lives.
As part of the competitions, you will have the opportunity to demonstrate your money management skills in the six knowledge areas of personal finance: earning income, spending, saving, investing, managing credit, and managing risk.
In this competition, you will work in teams of 3-4 members and complete a fun online 30-question challenge in the first round. Once you qualify for state-level rounds, the National Finals will be as follows - your team will be given a fictitious family scenario, and you have to prepare and present a personal finance plan to a panel of judges.
If you want to brush up on your economics and personal finance knowledge, feel free to check out this free toolkit offered by the CEE.
Location: State-wise, National Semifinals, and Finals are held in Cleveland, Ohio
Cost/Prizes: Free. Cash prizes of up to $2,000, awards
Dates: State-wise dates vary, the National Semifinals will likely be in the last week of April 2025 and the National Finals will be in late May or early June 2025 (tentative, based on the 2024 program)
Application Deadline: Varies from state to state
Eligibility: All high school students residing in the US
4. EConBowl by Youth Economics Initiative
EConBowl is one of the few economics competitions that take place during the fall semester! It offers high school students the opportunity to compete against other like-minded peers and apply real-world economics knowledge to beat other teams. The competition takes place in one day and is divided into two rounds, the written round, and QuizBowl.
In the written round, teams of 3-4 will have 60 minutes to collaboratively complete 60 questions. Each team will work together, and team captains will submit one exam on behalf of the entire team. The eight teams with the best scores from this round progress to the QuizBowl. There will be 19 questions, split into non-calculation and calculation problems, and the winner will be determined with the maximum aggregate score from the two rounds.
Unlike other programs, you can directly register for this competition and team members do not need to be from the same school! To prepare for this competition, you can check out the practice tests (3 total practice sets) or National Economics Challenge sample tests.
Location: Virtual via Zoom
Cost/Prizes: Free. Cash prizes up to $1,500 per team
Dates: November 2025 (tentative, based on the 2024 program)
Application Deadline: A week before the program date
Eligibility: Open to all students between the ages of 13 and 18 years
5. High School Business Competition @ University of Nebraska
The High School Business Competition is an annual competition organized by the University of Nebraska at Omaha College of Business Administration. There are 3 rounds in this program which consists of the following subjects:
Round One - Introduction to IT (open to 9-10 grade students only), Economics and Management Information Systems for Round One.
Round Two - Introduction to Business (open to 9th and 10th grade students only), Accounting, and Marketing.
Round Three - Business Math (open to 9th and 10th grade students only), Personal Finance, and Entrepreneurship.
The first-place winner of each category stands to win a $1,000 scholarship to UNO’s College of Business Administration. This program is organized with the help of the CBA Scholars Academy.
Location: College of Business Administration, Omaha, Nebraska
Cost/Prizes: Free. $1,000 scholarship to UNO’s College of Business Administration.
Dates: October 2025 (tentative, based on 2024 program)
Application Deadline: Will be updated on the website
Eligibility: Open to all students
The Stock Markets Game is organized by the SIFMA Foundation and is a virtual challenge in which students participate in teams with 3-5 members to manage a hypothetical $100,000 portfolio and invest in stocks found on the New York Stock Exchange and the NASDAQ. They have to maximize the returns on this investment over a simulated 5-year period, managing stocks, bonds, and mutual funds. The team with the maximum profits at the end of the last trading day, which is usually after 10 weeks, wins.
An added bonus is that you will also get to participate in InvestWrite, a national essay competition which is a culminating activity for The Stock Market Game students. You apply have learned in SMG by answering a question about long-term saving and investing.
Location: Virtual
Cost/Prizes: $10 registration fee per team. Stock Market Game Trophy, SMG swag bag, and $250 for the team finishing first.
Dates: Varies depending on location. Usually, summer, fall, and spring sessions run at every location
Application Deadline: Will be updated on the website
Eligibility: Open to all students between the 4th and 12th grade.
7. Husky Investment Tournament @ Michigan Technological University
The Husky Investment Tournament is a semester-long competition in which high school students participate in teams to apply the principles of the stock market to build a portfolio. It is organized by the Michigan Technological University and has two sessions every year, typically starting in May and October.
Each team will receive $1,000,000 in virtual US dollars to invest and deliver the maximum returns. At the end of the competition, the team with the top-performing portfolio will be invited to campus to pitch to a panel of current Michigan Tech students and experts. The competition is designed to help you familiarize yourself with economics, business, or personal finance concepts.
Location: Virtual. The Winning team is invited to the Michigan Tech University campus for a free tour
Cost/Prizes: Free. High school students who actively participate will receive a one-time $1,000 scholarship to attend Michigan Technological University in the major of their choice. The winning team receives $1,000 in prize money
Dates: Fall competition usually begins in October every year
Application Deadline: Will be updated on the website
Eligibility: Open to all high school students
8. High School Essay Contest @ Berkeley Economic Review
The Berkeley Economic Review is the University of California, Berkeley’s premier undergraduate, peer-reviewed, academic economics journal. This journal invites essay submissions from high school students on various current economic topics, twice every year.
To submit your essays, keep an eye out for the submission deadlines and topics will be released on the website every Spring and Fall. For the Spring 2024 contest, the topic was - “Discuss the implications of AI/Machine Learning on the labor market and discuss economic policies to optimize prosperity for workers and families.”
Do note that at least one graphic, either created originally or with the help of AI is required with the essay, which is to be submitted in a pdf format.
Location: Virtual
Cost/Prizes: Free
Dates: Essays are invited twice every year, in the Spring and Fall semesters
Application Deadline: Will be updated on the website
Eligibility: Open to all high school students
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If you’re looking to build unique projects in the field of AI/ML, consider applying to Veritas AI!
Veritas AI was founded by Harvard graduate students, and through the programs, you get a chance to learn the fundamentals of AI and computer science while collaborating on real-world projects. You can also work 1-1 with mentors from universities like Harvard, Stanford, MIT, and more to create unique, personalized projects. In the past year, we had over 1000 students learn data science and AI with us. You can apply here!