Greek Economics Olympiad

Greece has suffered for years from a tumultuous economic crisis spurred on by government debt and fiscal deficits. The Center for Liberal Studies (CLS) strongly believes that a lead contributor to this economic crisis and the subsequent rise of illiberal ideas and policies can be largely attributed to widespread economic illiteracy. To increase economic literacy throughout Greece, CLS is organizing the Greek Economics Olympiad and creating supplemental teaching materials, including a Greek edition of the award-winning economics textbook “Economics in 31 Hours”. They are also creating 31 basic economics education videos tailored to the Greek context that will be distributed on YouTube (and other platforms) for a high school audience.

CLS determined that the Economics Olympiad was the right initiative to reach their goal of achieving greater economic literacy in Greece through engaging high school students in a high quality and fun competition on basic economic concepts. Supplementary education materials will also serve to further influence Greek high school students.

The Greek Economics Olympiad was organized for the first time in the 2020-2021 academic year by CLS. The competition was launched in collaboration with the Ministry of Education and with the support of the Bank of Greece as well as the General Secretariat for Greeks Abroad and Public Diplomacy. The first competition attracted 1,105 students from 135 high schools from all over Greece and one school from the Greek diaspora. The Olympiad competition was mentioned 276 times in Greek media, including major television, radio, newspaper, and web outlets. Moving forward, CLS seeks to replicate and extend this success by increasing student participation while also increasing the quantity of high-quality resources available for students to gain basic economics education.

Contribution to enhancing freedom

There is a pervasive problem in Greece of a lack of basic economic literacy. Currently, throughout a typical education, students may never encounter any training in basic economics whatsoever. This is likely one reason for the great economic challenges Greece faces today. Through this project, students will receive fun, relevant education in basic economic principles which will increase their human capital while at the same time benefit Greek society into the future through a more informed and educated citizenry regarding basic economic principles. The goal of the Greek Economics Olympiad is to equip students to make important decision in both the political and personal realm that are anchored in sound economics. In just 5-10 years, at the current pace, they will have trained more than 100,000 high school students in sound economic principles in a country with a population of just 10 million.