WHAT IS EAC
The Economics Asia Convention (EAC) is an annual competition for secondary school students across Asia in the areas of Economics, Business, and Finance.
PURPOSE
- To encourage more students to study Economics.
- Provide opportunities to junior students to prepare for their future subject selection.
- Discover students' interest in Economics, Business, and Finance.
- Provide an equal opportunity for students to explore the world.
GOALS
- Gather asian students in a modern city - Tokyo.
- Enhance students’ interest in economics.
- Provide a platform for cultural exchange.
- Provide opportunities for students to explore the world.
Format of the competition
The Economics Asia Convention consists of two rounds of competition: an Economics Test and a Business Case.
.png)
Economics Test
The competition in the economics section is an individual event. The Economics part of the EAC includes 20 multiple choice questions(MCQ) and 5 open questions(OQ).
Multiple choice questions: Multiple choice questions test the basic understanding of economic concepts (which may include simple calculations).
Marking Scheme: Answers to all 20 MCQs are graded. A correct answer adds 4 raw points, an incorrect answer subtracts 1 point, unanswered questions don’t change the score.
Open questions: Each of the 5 open questions will be stated either quantitatively (include calculations) or qualitatively (include detailed explanations) or both.
Marking Scheme: The maximum grade for each open question is 30 raw points. Out of 5 open questions, only 4 are graded by the Jury. If a contestant provides non-empty solutions to all 5 questions, they must specify the question that shouldn’t be graded. If in this case a contestant has failed to specify a solution not to be graded, the maximum grade of 5 OQ scores will be excluded.
.png)
Business Case
The competition in business is a team competition and includes the oral presentation of the results. Presentations must be supported by slides. The presentations should be in English.
Marking Scheme: Business case solution consists of several parts. Here are the competencies contestant should acquire, that will be evaluated by the Jury, related to those parts:
Analytical thinking: the ability to structurally approach the solution of a complex business problem, correctly dividing it into streams.
Conceptual thinking: the ability to build correct hypotheses based on the resulting structure, made by analysis. Here the team checks how ideas respond to the necessary request and correctly address these or other problems of the enterprise, the team also makes sure that these solutions are feasible and have a common and business sense.
Quantitative thinking: every case necessitates both basic, swift calculations and more complex models that provide insights into specific analyses
Communication skills: the ability to correctly build a presentation and to answer questions.
