22.04.2025
The Economics Olympiad helps participants apply the economic concepts they have learned and improve their critical thinking skills. For many, it is an opportunity to discover their abilities, overcome challenges, and take the first steps toward their academic and professional goals.
Nikoloz Koranashvili, a second-year student at the International School of Economics (ISET), is one of the successful participants of the 2023 Economics Olympiad. According to him, his interest in economics began while he was still attending Ilia Vekua Physics and Mathematics Public School No. 42 of Tbilisi. As his curiosity about economics grew, he discovered the Economics Olympiad as an ideal opportunity to deepen his knowledge of the subject: “The main reason I participated in the Economics Olympiad was to study economics, because I was planning to continue my education in this field.”
He notes that preparing for the Olympiad required a great deal of determination and effort. However, he soon discovered that traditional study methods were not effective for him: “I was preparing for the Olympiad with a book, but I had difficulty understanding it, so I stopped studying after the first round. In my opinion, general knowledge and a bit of luck helped me in the second round.”
Despite these challenges, Nikoloz’s journey in the Olympiad was successful at every stage. Notably, in the national round, he scored 37 out of a maximum of 40 points, earning a place at the Economics Olympiad summer camp: “The most difficult part of the competition was the competition itself. It was clear that the other participants had more knowledge of economics, but the essay section of the national round allowed me to score highly, as it required logical reasoning in addition to economic knowledge.”
The experience Nikoloz gained from the Olympiad helped him not only academically, but also in his extracurricular activities afterward: “Thanks to the training sessions held at the camp, I was able to learn economics much more easily in my first year.”
Nikoloz went on to found an economics club at his school and helped other students successfully compete in the Economics Olympiad. He notes that the book Common Sense Economics was particularly helpful in supporting the club’s activities.
His example shows us that, alongside studying, it is important to overcome challenges, stay motivated, and share the knowledge and experience gained with others.