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General Infromation about the Olympiad
Cyprus participates for the first time in the International Economics Olympiad (ΙΕΟ). The Department of Finance, Accounting and Management Science (FAMS) of the Cyprus University of Technology is responsible for selecting the 5-member team that will represent Cyprus in the international competition.
The IEO is an annual competition that aspires to help develop the knowledge and skills of young people in the fields of economics and financial literacy. More than 40 countries and territories participate in the international event through local competitions held before the international competition.
To this end, the FAMS Department will organize the local competition entitled:
«Manage your finances smartly, build your future wisely»
The local competition to be conducted by the FAMS Department is supported by the Central Bank of Cyprus, the Cyprus Capital Market Commission, the Cyprus Youth Organization and the Financial Wellbeing Institute.
A participation fee applies, amounting €10 per contestant (exemptions may apply) and you can register here.
All participants in the 1st phase will be given a certificate of participation.
Participation
Eligible for the competition are students of (public, private and technical) upper secondary schools in the Republic of Cyprus who have not completed 20 years of age by 30 June of the year when the IEO is held.
– For minors participating in the competition, legal guardians should sign a responsibility waiver, stating that they understand the terms and conditions of the competition and the risks associated.
– A participation fee applies, amounting to €10 per contestant. Participants belonging to the following social groups are exempt from the fee, upon submission of relevant evidence at registration (only validated copies will be accepted):
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- students from families with three or more children;
- students from families that qualify for the minimum guaranteed income under applicable Cyprus legislation.
– In Phase 2, the thirty (30) top-scoring students of Phase 1 will participate. The number of participants may be changed at the discretion of the Organising Committee.
– The local competition (Phases 1 and 2) requires the use of both the Greek and English languages. During Phase 1, the participant will have the option to choose one of the two languages for the written exam. Phase 2 will be conducted in a combination of Greek and English.
– For the examination activities to be held in an in-person format, students will be allowed to use a simple (non-programmable) pocket calculator and a dictionary to translate words. The dictionary should be clean, without any notes or extra sheets. Mobile phones, smartphones and any other electronic devices are prohibited.
– The team that will represent Cyprus in the IEO will comprise five (5) students who have participated and successfully completed all stages of the local competition and have the highest overall score.
– Participation of the Cyprus team in the International Economic Olympiad will take place online. The time and modalities of the international competition may be changed by decision of the Organizing Committee and the IEO Board.
– Participation in the IEO is governed by the IEO regulations: https://ecolymp.org/regulations .
– The official language of the International Economics Olympiad is English. Tasks, solutions and marking schemes are composed in the official language of the IEO; no translations into Greek are provided. Contestants are supposed to submit their solutions in English.
– All participants consent to the processing of their personal data by the Cyprus University of Technology and its partners/associates. Consent may be revoked by a formal letter to the Organizing Committee
– During the conduct of the competition, the Cyprus University of Technology and its partners/associates may film, photograph and/or audio tape for record-keeping or promotional purposes. Participants consent to such activities. They also consent to the use of their personal data for purposes related to the conduct and promotion of the competition.