Virginia Council on Economic Education
Governor's Challenge in Economics and Personal Finance

An online and live competition open to teams of high school students across the Commonwealth.  There is no charge to compete!

  • Get your students fired up about economics and personal finance.
  • Motivate them to learn and excel. 
  • Encourage healthy competition and school pride.
How Does the Online Challenge Work?
Free to all high school students.  Teachers and students throughout Virginia may participate without leaving their school.  Teams of up to four students may compete in one or two divisions: Personal Finance, and one of two Economics divisions as described below.   Each team member will have 35 minutes to complete a 30-question online exam with questions that align with Virginia's economics and personal finance standards of learning.  Registration begins January 1, 2015 and students can log in to compete anytime between March 2 and March 24 by 5:00pm.
In each of the three divisions, the winning team in nine regions in the state will be acknowledged and awarded a trophy. Regions are based on the eight regional study groups set by the Virginia Department of Education and one region for multidivision online teams.

If requested, teachers will receive their students' scores - both team scores and individual student scores.

How Does the Championship Competition Work?
Up to 12 teams in each division will be invited to participate in the Championship competition to be held in Richmond, Friday April 17, 2015.  Regional winners in the Online Challenge as well as the top scoring teams (not to exceed one team per teacher in that division) will be invited.  

In the Personal Finance division, students will present recommendations based on issues/questions set out in a case study.  A written portion must be presented by Monday, April 13, 2015.  The case study and directions for submission are posted here

In each of the economics divisions (Adam Smith and David Ricardo) students will test their knowledge in the morning.  Students from the top scoring teams will face off in a quiz bowl to determine the top team.

Virginia's state championship teams and their teacher from each division will be invited to participate in national competitions with most expenses covered.  Details are available here.
Competitions are conducted at three levels. Teachers may enter multiple student teams in their qualifying divisions.
Division Level Qualifying courses
Personal Finance High School For students enrolled in a course that includes some personal finance content
Adam Smith High School IB, AP, honors, college-level or two-semester general economics course
David Ricardo High School One-semester general economics course - including courses taught to satisfy the new Economics and Personal Finance requirement - or any course that teaches economics-related content not labeled as AP, IB, honors, or college level, e.g. Government, Business, World Geography. Teams that participated in a previous State Championship must compete at the Adam Smith level.
Register Online
Teachers can register online beginning January 1, 2015. 
For Adam Smith and David Ricardo (economics divisions) register at
For Personal Finance regisiter
Once registered, teachers can create their student teams of 3-4 students per team.
Recognition for Teachers
We appreciate all the teachers who promote economic and financial education and enable their students to participate in the Governor's Challenge. Capital One will acknowledge and award teachers who have student teams coming in 1st, 2nd and 3rd place within each division (Adams Smith, David Ricardo and Personal Finance) and in each region.

Ruth Cookson - or 757-683-5570 for questions regarding the Online Challenges.

We gratefully acknowledge lead sponsor of the 2015 Governor's Challenge, Capital One, along with additional sponsors BCG Companies and Virginia Credit Union.

We also appreciate the assistance provided by the VA Department of Education and VCU's Center for Teaching Excellence as well as members of the business community who serve as judges for the final championship rounds. 

Important Dates
Teacher registration begins
January 1, 2015
Online Challenge Begins
March 2, 2015
Online Challenge Ends
March 24, 2015 @ 5:00pm
Championship Challenge, by invitation, in Richmond
April 17, 2015
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