Brazilian High School Students Rank First in International Economic Olympic in Russia

SÃO PAULO, BRAZIL – Developing strategies to solve financial problems, building a business model, expanding a company’s area of operation: these tasks were not directed to managers, but rather to students who participated in the International Economic Olympics, in July, in St. Petersburg, Russia.

Despite not including this subject in the curriculum, two Brazilian high school students succeeded in bringing gold and bronze medals back to Brazil. With five other members in the competition, the Brazilian team was awarded the trophy for Best Team in the World.

Guilhermo Costa, 17, a São Paulo resident, took part in the economic Olympics for the first time this year, although he has already participated in other similar national and international competitions, such as the physics Olympics.

Despite being a newcomer, he won the gold medal in the competition. According to him, the distinguishing feature of the economics exam was the difficulty in the required contents.

In the exam, divided into three stages, basic concepts on micro and macroeconomics were required, in addition to behavioral economics and finance.

Bronze medalist Rafael Akira, 17, tells that he has taken part in similar competitions in computer science, physics, biology, and science, both in Brazil and abroad.

During the last year of high school, students from the Objetivo Integrado high school, in São Paulo’s capital, Guilhermo and Rafael were instructed by several teachers.

The event was held from July 24th to 31st and gathered students from 24 countries. The final result of the International Economic Olympics ranked Brazil first in the overall, and two teams from China in second and third place. The High School Economics (HSE) organized the competition.