The Economics Olympiad was launched in 2017 with a participation of 4,000 high school students. This year, the competition enjoyed even more popularity with more than 5,300 contestants overall.
On March 27, 2019, the Lithuanian Free Market Institute (LFMI) ran the second edition of the National Economics Exam. Aimed at promoting economic literacy and the relevance of economics education, the exam is intended for all citizens interested in measuring their knowledge of economics.
The history of ship navigation on the shores of England shows us that when explaining events we need to take a look not only on the market failures, but also on the state failures. These played a bigger role than the textbooks’ authors might expect.
With a sample of 4,000 Slovak students, the Economics Olympiad revealed the most serious weaknesses in economic education of young people. Memorizing is believed to be a long-term problem, but knowledge useful only as a part of quiz shows remains a crucial element of the Slovak education system.
On March 13, 2018, the Lithuanian Free Market Institute held Lithuania’s first National Economics Exam for pupils, university students, and everyone interested in measuring their knowledge of economics. Over 6,500 people from all over the country took part in the exam.
On March 13, 2018, the Lithuanian Free Market Institute will hold Lithuania’s first online National Economics Exam for pupils, university students, and everyone who would like to measure their knowledge of economics.
As many as 81% of Lithuanians find their knowledge of economics insufficient. Making economic decisions at every step of the way, Lithuanians compare their understanding of economics to that of physics or political sciences, but find themselves less confident in economics than in computer literacy or mathematics.
Evaluated for Economics in 31 Hours curriculum, its success, efficiency and itspartnership with the Atlas Network in promoting the European Academy for Intellectual Entrepreneurs, LFMI ranks among world-famous institutions and organisations.
The Lithuanian Free Market Institute was shortlisted among three finalists for this year’s award for its textbook for upper secondary school students Economics in 31 Hours. The Educational Learning Resources Award recognizes excellence in innovation, pedagogical value and practicality of educational resources.
LFMI was named one of six finalists for this year’s Templeton Freedom Award for its textbook of economics – Economics in 31 Hours – that is giving the next generation of Lithuanian youth a fighting chance to get the economics right by teaching how property rights, free exchange, profit and competition shape decision-making in our everyday lives.