Frequently Asked Questions

  • What will be the language of the exams?

The olympiads will be conducted in English. The answers in any other language will not be accepted. However, this year, there will be an extra Turkish exam for those who want to participate but do not have enough proficiency in English.

  • What is the price of the exam?

The Olympiad is entirely free.

  • How can we apply to the exams?

You can go to the “Apply” section to fill out the application form.

  • Can we apply to the exam as a group?

No, every participant should apply themselves. Groups are not accepted.

  • Can we apply as a school to the TEO?

Students from the same school can apply to the TEO separately. There are no limits for participants from the same organization.

  • Does my school matter in my application to the TEO?

No, we take students regardless of their backgrounds. However, students should be studying in an institution located in Turkey. There are no citizenship limitations.

  • What is the deadline for the applications?

The applications for the Turkish exam and English exam will be open until March 10th  and March 15 th 2022. The applications after the deadline will not be considered.

  • When will the exams be held?

The online English Economics Exam will take place on March 18-19, 2023. The Online Turkish Economics Exam will take place on 11-12 March 2023.

  • This is my last year in highschool, can I still apply?

Yes. The participant should be enrolled in a highschool at the time of the application to the Olympiad.

  • How many exams will I take?

For the English exams, you will have four different exams consisting of the following;

  1. Open-ended Economics Exam (English) (1 hour)
  2. Multiple choice Economics Exam (English) (1 hour)
  3. Financial Literacy Game (2 hours)
  4. Business case study (1 day)

For the Turkish exams, participants will take two exams consisting of the following;

  1. Multiple choice Economics Exam (1 hour)
  2. Financial literacy game (2 hours)
  • Where will the exams take place?

All exams will be held online due to the diversity of students from around Turkey.

  • Will the Turkish Exam be considered for selecting students for the IEO Turkey team?

The Turkish exam will be only for attendances who feel they need more time for the English exams, and the students who only took the Turkish exam will not be considered for the International Economics Olympiad Team Turkey. It is optional to take the Turkish exam.

  • How can we prepare for the exams?

We recommend using CORE Economics Textbook for reference. Previous years’ exams are available here, which would help the contestants orient themselves as they prepare for the Olympiad. Past years’ IEO questions could also be helpful, which you can reach through here.

Other Book suggestions:

  • Ha-Joon Chang – Economics: The Users Guide
  • Jörn-Steffen Pischke, Joshua Angrist – Mastering Metrics: The Path from Cause to Effect
  • Esther Duflo – Good Economics for Hard Times
  • Hal Varian – Intermediate Microeconomics
  • Grigory Mankiw – Macroeconomics
  • A. C. Chiang – Mathematical Economics
  • Will there be extra education provided for the preparation for the exam?

We do not provide education for the Olympiad. However, the students who are elected to represent Turkey at the International Economics Olympiad will be mentored by our team of professors and economists before the IEO takes place.

  • When will we receive our exam results?

Results for the Turkish exam will be announced three days after the end of the exam. The English exam results will be made public on March 20, 2023.

  • What happens after the announcement of the exam results?

Team Turkey starts receiving mentorship and exam preparation sessions to prepare the Olympic team for the IEO.

  • What are the other opportunities at TEO?

After the exam, attending students can join the community of the Turkey Economics Olympiad to enjoy mentorship opportunities and work together to increase awareness of economics education in high schools.

  • Where does the IEO take place?

Currently, the location of the IEO is not made public.

  • How many people are selected for the IEO?

Five people out of all attendants will be selected for the IEO Turkey Team.