Inside the competition
The IEO is scored out of 200 points across two graded parts — Economics & Finance (individual, 150) and the Business Case (team, 50) — delivered as three tests. Here is exactly how each works, how it is scored, and what the syllabus covers.
Three tests, two parts
Economics & Finance — MCQ
Forty multiple-choice questions across the whole syllabus. Breadth and speed matter.
- Questions40
- Marking+2 / −0.5 / 0
- Part of150-pt score
Economics & Finance — Open Questions
Five open problems; your best four count. Depth of analysis and clear working win points.
- Questions5 (best 4 count)
- Each worth30 raw pts
- Part of150-pt score
Business Case
A team solves a real case over two days and presents it in English to a judging panel.
- Teamup to 5
- Daysprep + present
- Max50 pts
In the open round, language mistakes are not penalised — the Jury grades your economics, as long as the solution is clear. In the business case, teams are split into groups, and the top team in each group reaches the public Finals.
How is the IEO scored?
Normalised, then combined
Raw scores are converted to standardised (z-score) results per part, so the 150-point Economics & Finance and 50-point Business Case combine fairly into one 200-point total.
Your individual total
Each contestant’s total is their Economics & Finance score plus their team’s Business Case score. Ties are broken by the Economics & Finance score.
Medals
Gold, silver and bronze are awarded on overall individual results, with the total number of medals capped at half of the invited contestants. Teams earn separate gold/silver/bronze trophies.
How do you win the Business Case?
The Business Case is where teams pull ahead. You get a real-world business or economics problem, work it as a team, and present a recommendation to a panel of judges in English. It rewards a clear decision backed by the brief’s own evidence — not a list of observations.
Lead with the recommendation
Open with your answer, then support it with two or three arguments (Minto’s “pyramid”). Judges should know your decision in the first thirty seconds, not the last.
Back it with the brief
Every claim ties to a number or fact in the case — market size, margins, a constraint. A strong team quantifies; a weak team generalises.
Present as a team
Assign clear roles, handle the risks and trade-offs honestly, and rehearse to time. Delivery and Q&A count — practise defending your recommendation out loud.
Practise on past IEO case briefs and their evaluation criteria (linked from Resources), and enter an IEOx WinterChallenge for a full team dry run.
The syllabus
Based on the official IEO Syllabus. Models are applied to modern settings — platform markets, digital payments, AI-driven productivity, the climate transition and supply-chain shocks.
Economics
Microeconomics
Competitive markets & elasticities · consumer choice · firm behaviour · non-competitive markets (monopoly, oligopoly, digital platforms & network effects, digital-economy pricing) · government intervention · market failures · labour · game theory · innovation
Macroeconomics
Measuring income, inflation & unemployment · long-run growth & technology · AD–AS model · money & banks · monetary & fiscal policy · fluctuations & crises · institutions & inequality
International & frontiers
Gains from trade · protectionism · currencies, exchange rates & parity · environment & sustainability · how economists use data, natural & field experiments
Finance & financial literacy
Financial planning, budgeting & debt management · banks & the banking system · saving & compound interest · borrowing, credit & credit scores · investment, financial instruments & risk management (time value of money, stocks, bonds, diversification, derivatives) · insurance · financial fraud & Ponzi schemes · crowdfunding · cryptocurrencies & blockchain
Recommended texts
The Economy 2.0: Microeconomics & Macroeconomics (CORE Econ) · Principles of Economics (Mankiw) · plus A-level / IB principles-level texts
This is a plain-English summary. The official IEO Syllabus (approved by the International Board) is the definitive document — always check it at ieo-official.org for the current year.
Eligibility & rules
High-school students under 20 on 30 June of the competition year (for 2026, born after 30 June 2006), representing the country where they study or reside.
Teams of up to five contestants with one or two team leaders. English is the official language; smartphones are not permitted in the exams.
OpenTrack — try it, any age
A relaxed parallel category, open to people of all ages and run individually online — ideal for younger students not yet eligible, or anyone who just wants to try the format.
Same three tests, its own independent scoring, and free to enter. In 2026 it runs 13–19 July (registration closes 9 July).
IEO 2026 · Shenzhen
The 9th International Economics Olympiad runs 12–20 July 2026 in Shenzhen, China. A typical week looks like this:
Schedule from the official 2026 Academic Regulations and subject to change by the organisers. This is an independent guide — confirm dates at ieo-official.org.