“The Way to Recovery and Revival”
Theme of WEC 2023
Competitive Format
Each competitive event consists of three modules
Fundamentals
Past
Multiple choice questions about the economics theory to test students' accumulated business knowledge and literacy in the past.
Deep Comprehension
Present
Material/Lecture-based questions about economics practice to test students' on-site learning and comprehension abilities.
Thinking and Innovation
Future
Take an economic perspective to see non-economic problems and apply economics knowledge to solve real and critical problems.
From Classics to Front Edges
From the National Cups to the World Cup, the economic theories and knowledge being tested will evolve from traditional, time-honored concepts to cutting-edge discoveries and advancements in the academic field of economics.
Compete In A Team of Six
A collaborative competing experience for school teams
Since 2023, WEC switches to a school-team-based competing scheme. Students from the same school need to form a school team of six under school adviser's guidance and compete from national/regional cups way to the annual World Economics Cup.
National/Regional Cups & Continental Qualifiers
April 14th (Friday) in school campus or online
(Please refer to specific sessions to select with WEC coordinators)
A 90-minutes online Integrated Test including elements of all WEC formats
Continental Economics Cups 2023
2023 summer (July & August) online
(Please refer to specific dates for different continents)
Complete formats of WEC conducted in separate sessions across one Continental Economics Cup Week.
World Economics Cup 2023
October 8-14, Online
Complete formats of WEC conducted in separate sessions across the 2023 WEC Week.
Continental Economics Cup 2023
African Economics Cup
African Economics Cup Week
July 2 - 8, 2023
South American Economics Cup
South America Economics Cup Week
July 9-15, 2023
North American Economics Cup
North America Economics Cup Week
July 23-29, 2023
European Economics Cup
European Economics Cup Week
August 6-12, 2023
Asian Economics Cup
Asian Economics Cup Week
August 20-26, 2023
How to participate
Awards/Recognitions at WEC
School teams compete in a team of six to get both team awards and individual awards;
Honors at school-level, country/regional-level and continental-level will also be given separately at National/Regional/Continental/World Economics Cups
Awards for School Teams
National/Regional Gold, Silver, Bronze Certificates will be awarded to the national/regional top performing school teams based on their team average of individual scores.
Based on the number of participating teams of each country/region, WEC will decide the exact number of top teams of each country/region invited to the Continental Cup. By principle, the Continental Economics Cup can only invite 50 top teams across countries/regions of that continent to the Continental Final.
Awards for Individual Contestants
Tiered Grading Certificates (Highest Distinction, Higher Distinction, Distinction and Excellence) will be awarded to a certain percentage of contestants based on their scores in the hybrid assessment.
The names of the national/regional top 10 individual scorers will be announced as well and the winners will receive special certificates.
Honors for Schools
The average total scores of the top 6 individuals from each school will be used for the rankings of school group performance. The Top 3 Performing Schools in each country/region will be announced and recognized.
Awards for School Teams
Continental Gold, Silver, Bronze Trophies will be awarded to the continental top performing school teams based on their team average of individual aggregated scores. The specific rankings of Continental Top 10 school teams will also be announced and recognized.
The Top 6 performing teams of each continent will be invited to the World Economics Cup representing their continent.
The names of continental top 10 school teams on "Thinking and Innovation" will be announced as well and the winning teams will receive special certificates on this module.
Awards for Individual Contestants
Continental Gold, Silver, Bronze medals will be awarded to a certain percentage of contestants based on their aggregated scores on "Fundamentals" (individual score), "Deep Comprehension" (individual score) and "Thinking and Innovation" (team score). The percentages will be justified by WEC continental jury committee based on the distribution of actual test scores.
The names of continental top 10 individual scorers on "Fundamentals" and "Deep Comprehension" will be announced as well and the winners will receive special certificates on these two modules.
Honors for Countries
The average total scores of the top 6 individuals from each country will be used for the rankings of country group performance. The Top 3 Performing Countries will be announced and recognized.
Awards for School Teams
World Gold (Top 10), Silver (Top 20), Bronze (Top 30) Trophies will be awarded to the participating school teams in a tiered scheme based on their team average of individual aggregated scores. The specific rankings of Global Top 10 school teams will also be announced and recognized.
The names of global top 10 school teams on "Thinking and Innovation" will be announced as well and the winning teams will receive special certificates on this module.
Awards for Individual Contestants
World Gold, Silver, Bronze Medals will be awarded to a certain percentage of contestants based on their aggregated scores on "Fundamentals" (individual score), "Deep Comprehension" (individual score) and "Thinking and Innovation" (team score). The percentages will be justified by WEC jury committee based on the distribution of actual test scores.
The names of global top 10 individual scorers on "Fundamentals" and "Deep Comprehension" will be announced as well and the winners will receive special certificates on these two modules.
Honors for Continents
The average total scores of all invited six teams from a certain continent will be used for the rankings of continental group performance. The Top 3 Performing Continents will be announced and recognized.
Frequently Asked Questions
Who can participate?
The WEC is open to all high school students around the world. The competition is designed to challenge, so will not be easy. Students should see it as an opportunity to develop their thinking and problem solving skills, and to test their existing knowledge of economics in real-world situations.
Do I need to pay money?
Participation in the National Cups/Continental Qualifiers is free of charge. Competing at Continental Cups will incur a registration fee. Competing at World Economics Cup is free of charge.
Can I register as an individual student?
If you would like to take part in the WEC, you must let your school or organization know so that they can register on your behalf and form a team. We can’t accept registrations from students directly.
Does a school/institution need to have the names of their students ready before it registers?
No, we will ask for the complete list later. All the school/institution needs in order to register is the basic information about the school/organization and a designated adviser.
What academic support will students get?
Students will get question samples and learning materials after registration to prepare for the competition.
If I didn't study economics in school, can I compete?
Yes. Taking an economics course is not a prerequisite for attending the WEC. We advocate that the competition is fair to all the levels of students. Whether you have taken an economics course or not has no certain effect on your performance. WEC values your ability of thinking, understanding and application. In the test questions of the competition, WEC will give as much relevant background and theoretical knowledge as possible. Students can complete the questions with the knowledge and information given in the test paper.
Is the scope of the test all in the reference materials?
No. The scope of the test does not have much to do with the scope of the reference material. Furthermore, most of the knowledge in the test paper is not available in the reference materials. Please note that the WEC is a test of thinking and problem-solving, rather than a test of knowledge and memory. However, the reference materials will help you to understand the subject, and be familiar with the thinking mode and basic theories, which will enable you to understand the new knowledge faster and better in the competition.
How do students prepare for the competition?
Thinking and Innovation - Specific social or business problems (PDF)
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