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 Virginia.  There's no charge to compete!
  • Get 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?
Teams of up to four students compete in one or two divisions: Personal Finance, and one of two Economics divisions (described below).   Each team member has 35 minutes to complete a 30-question online exam with questions that align with Virginia's economics and personal finance SOLs.  Registration begins January 1, 2015 and students can log in to compete anytime between March 2-24 by 5pm.
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.

Teachers may obtain individual and team test scores from the online test once the testing window is closed.


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

In the Personal Finance division, students present recommendations based on issues set out in a case study.  A written portion must be presented by 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 test their knowledge in the morning.  Students from the top scoring teams 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 2-semester general econ course
David Ricardo High School 1-semester general econ course - including courses taught to satisfy the Economics and Personal Finance requirement - or any course that teaches econ-related content not labeled AP, IB, honors, or college level (Government, Business, World Geography). Teams that participated in a previous State Championship must compete at Adam Smith level.
Register Online
Teachers register online beginning January 1, 2015. 
For Adam Smith and David Ricardo (economics divisions) register at
For Personal Finance register
Once registered, teachers create student teams of 3-4 students per team.
Recognition for Teachers
Let's hear it for teachers who promote economic and financial education and enable their students to participate in the Governor's Challenge! Capital One will award teachers whose student teams place1st, 2nd and 3rd 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 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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