Winners of the II International Economics Olympiad Announced in St. Petersburg
On July 31, the II International Economics Olympiad (IEO) for high school students came to a close in Saint Petersburg. In the team competition, the Brazilian team won the gold medal, while teams from China won silver and bronze. A team from Russia placed fifth.
'The educational systems in Brazil and China are different, yet all the participants competed on equal terms and took pleasure in the intellectual aspect of the Olympiad,' says Danil Fedorovykh, lecturer of HSE’s International College of Economics and Finance and president of the Olympiad.
Despite the fact that economics is not a "standard" discipline at school, national Olympiads in the winning countries attract thousands of students, which attests to the interest of young people in our subject
'The winning teams managed to show good results in all parts of the Olympiad, that is, they proved their knowledge of economics and the ability to make reasonable financial decisions and collaborate with their team members on business case solving,' adds Danil Fedorovykh.
One team from Russia placed fifth in the team competition, and all members of the team received medals in the individual competition (2 gold, 2 silver, and 1 bronze). Anastasia Nebolsina from Kaliningrad and Semyon Morozov from Moscow were awarded the highest awards. The second Russian team won two bronze medals.
The grand champion in the individual competition in terms of the final score was Andrew Pei from China. He scored 172.5 points out of 200. Guilhermo Cutrim Costa of Brazil took second place, while Maximillian Surveyor from New Zealand came in third.
According to Danil Fedorovykh, thanks to IEO, national economics Olympiads have already appeared in 11 countries, and this number promises to grow. ‘We try to bring people from all over the world closer together, and foster unity in students as they come to know and understand economic, financial and business concepts,’ said the IEO president.
The awards ceremony was held in the Kochubey-Centre, a unique architectural structure dating to the beginning of the twentieth century. The proceedings were led by Yang Fan Yun, 2018 IEO gold medalist of the individual competition and member of the bronze-winning New Zealand team. This year, Yang Fan Yun scored in the top 0.3% in his home country on his graduation exams in 5 subjects. He came to IEO 2019 as a team leader, and this fall he will begin his studies at Stanford University.
The II International Economics Olympiad for high school students was held from July 24-31 in St. Petersburg. The competition aims to get students all over the world interested in economics and entrepreneurship, develop their skills in finance, and improve the quality of economic and financial education at the secondary level.
Competing in the academic competition were 29 teams of high school students from 24 countries: Austria, Bangladesh, Brazil, Ghana, Greece, India, Indonesia, Ireland, Spain, Kazakhstan, China, Latvia, Malaysia, Nepal, New Zealand, the UAE, Poland, Portugal, Russia, Romania, the USA, Uzbekistan, Switzerland, and South Korea. Students competed in three rounds, each with its own theme: financial literacy, economics, and business case solution.
Nobel Laureate in Economics, Eric Maskin, serves as the chairman of the board of trustees of the Olympiad. The executive committee of the Olympiad includes representatives of 10 countries. The participants' performances were evaluated by jury members from universities in Spain, the USA, Austria, Russia, and Latvia.
Initiated by HSE University, the International Economics Olympiad for high school students was held for the first time in Moscow in 2018. It is the only event of its kind in the world. In 2020, the competition will be held in Nur-Sultan, the capital of Kazakhstan.
For the second year in a row, the competition’s general sponsor was PJSC Sberbank, the largest bank in Russia and Central and Eastern Europe. Sberbank sponsors sports and charity events in various regions of Russia, as well as educational projects, including financial literacy development projects.
See also:
FES Announces the Winner of the Nobel Prize in Economics 2024 Prediction Contest
The HSE Faculty of Economic Sciences summarised the results of its traditional prediction contest. FES holds this contest annually on the eve of Nobel Week. This year, the contest once again attracted participants from different regions of Russia and countries around the world. Remarkably, one participant managed to predict all three laureates of the 2024 Economics Prize.
Try Your Hand at Predicting the 2024 Nobel Prize Winner in Economics
The Faculty of Economic Sciences is launching its annual prediction contest. On October 14, the Nobel Committee will announce the winners of the Sveriges Riksbank Alfred Nobel Prize in Economic Sciences live on air. You have time to prepare and explore the landscape of contemporary economic thought. What topics and areas are considered particularly important and promising at the moment? Anyone can win.
Choosing the Right Server Results in Better Outcomes in Doubles Tennis
The Roland Garros tennis tournament, one of the most prestigious in the world, began on May 26. The prize money for this year's French Open totals nearly 54 million euros, with athletes competing in both singles and doubles events. In doubles tennis, choosing the right strategy for a match is crucial. Athletes' ability to adapt to the dynamics of the match and strategically choose the server can earn the pair up to 5% more points, according to Nikolai Avkhimovich, doctoral student and research fellow at the Laboratory of Sports Studies of the HSE Faculty of Economic Sciences. A paper with the study findings has been published in Applied Economics.
Consumer Prices Decrease in Densely Populated Areas
HSE University economists have proposed a novel approach to modelling monopolistic competition with heterogeneous firms and consumers. The results of collaborative research carried out by Alexander Tarasov from Moscow, his co-authors from HSE University–St Petersburg, together with the Norwegian School of Economics, the University of Pennsylvania, and the Free University of Brussels, have been published in American Economic Journal: Microeconomics.
Football Players Cover Greater Distances During Critical Derby Matches at Home Arena
Researchers at the HSE Faculty of Economic Sciences examined the level of effort that professional football players are willing to exert during a match in absence of financial incentives. It appears that the primary factors driving players to strive harder for victory are the strength of the opponent and the significance of the match for the club. This is particularly noticeable in derby matches between teams from the same city, such as the Moscow derby between CSKA and Spartak on April 25, 2024. The study has been published in the Journal of the New Economic Association.
Participation in Crowdfunding Can Generate up to 73% in Returns Annually
Backers of projects on crowdfunding platforms can expect rewards from their pledges. For example, funding someone's idea on Kickstarter can result in an average annual return of 11.5%, with design projects known to deliver returns as high as 70%. However, it is important to note that these returns do not come in the form of direct cash payments but rather as savings on the purchase of the product once it hits the market. This has been demonstrated in a study by researchers at the HSE Faculty of Economics published in Economic Analysis Letters.
Programming & Real Life: Results of the PROD Olympiad
The HSE Cultural Centre recently hosted an awards ceremony for the winners of the PROD Olympiad. This is the first-ever industrial IT-development competition for 9th–11th graders in Russia, organised by HSE University, Tinkoff Bank, and the Central University (Moscow). About 4,000 people from 89 regions of Russia, as well as from Kazakhstan, Belarus, Armenia, China, and Turkmenistan, participated in the qualifying stage, with 43 people emerging as eventual winners.
Open Olympiad in Informatics for School Students Held with Participation of HSE University
The 18th Open Olympiad in Informatics was held in March at four locations; Moscow, Perm, Lipetsk and Tehran. The Olympiad included an online qualifying round and an on-site final round, which was attended by 435 schoolchildren from many countries, including Russia, Azerbaijan, Bangladesh, Belarus, Bulgaria, China, Cuba, Egypt, Georgia, and Germany. The event was co-organised by HSE University.
Economists Suggest Using Media's Attention to Bitcoin to Predict its Returns
Researchers at the HSE Faculty of Economic Sciences have studied the relationship between the changes in the bitcoin prices and the media attention to this cryptocurrency. The researchers examined the mentions of bitcoin in the media between 2017 and 2021 and built a mathematical model that revealed the strong relationship between media attention and bitcoin prices. The study was published in the Applied Stochastic Models in Business and Industry journal.
HSE Economists Develop a Model for Sustainable Solar Geoengineering Agreements
Researchers at HSE University and George Mason University have investigated the sustainability of prospective international agreements on solar geoengineering. The authors have proposed a scheme in which payments flow from affluent nations to less wealthy ones; an arrangement which sets their proposal apart from traditional systems. The proposed model aims to dissuade more vulnerable countries from excessive use of the prevalent geoengineering method by providing compensation for the potential damage they may incur and supporting their adaptation to climate change. The paper has been published in Environmental and Resource Economics.