The purpose of the Economics Summer Camp (ESC), organized within the framework of the Economics Olympiad, is to prepare the successful students from the national round for the upcoming international final round of the Economics Olympiad, scheduled to be held in Slovakia in 2023.
During the camp, in addition to educational lectures, which covered topics such as the history of economic thought, basic finance tools, cost of production, competitive markets, monopoly, monopolistic competition, oligopoly, monetary systems, inflation, and others, students had the opportunity to engage in independent and team exercises, explore real-world examples, and participate in interactive activities with guest speakers to gain a deeper understanding of economic and financial issues. Before the start of the camp, students completed an online economics course comprising six sessions, which covered supply, demand, equilibrium, and monetary theory.
The economics online course and camp were led by Aleksandra Shalibashvili. Representing Georgia at the final international round of the Economics Olympiad, students Ani Gvaramadze, Nikoloz Koranashvili, Klimenti Berulava, Nika Vanadze, and Guka Tsagareishvili will have the opportunity to compete against students from 20 other countries.
Students and Mentors about ESC:
The Economics Olympiad preparatory summer camp held in the mountainous resort of Gudauri, Georgia, has provided an exceptional opportunity for the finalists to prepare for the upcoming international round that would take place in Bratislava, Slovakia. During this intensive 5-day program, participants had the chance to fully immerse themselves in the world of economics. During the camp, we held comprehensive lectures covering economics fundamentals from A to Z, engaged in lively discussions about the philosophy of economics, and dedicated hours to solving practical problems. Amidst all the rigorous learning, we also managed to have some enjoyable moments playing board games, even applying in practice the concepts of limited resources and gains from trade through the game of Catan.
I would say that the camp held in Gudauri was a resounding success. Firstly, the knowledge we acquired there proved invaluable not only for the international final round in Slovakia but also in a general sense. One of the most significant factors contributing to our ability to quickly assimilate new information was the warm and inviting atmosphere, primarily fostered by the camaraderie among the participants and the guidance of Alexandra. Enjoying board games in the evenings followed by morning classes proved to be an incredibly productive way to acquire knowledge. The Gudauri camp provided an ideal experience, resulting in a more tightly-knit team and a significant overall increase in our knowledge levels!
The days spent in the camp were one of the most memorable periods of the Economics Olympiad. We went through the topics that were useful for the international round in depth. In addition, I had the opportunity to meet other participants with whom I had common interests.
First of all, I will analyze the academic part and I would say the most important reason why Georgia had better results than other inexperienced countries were in this camp. During this period, we spent more time on economics and answered all previous questions we had before, improved our skills by practicing with applications and economic problems. When I was home, I also practiced but I was not sure about my answers and online it's impossible to discuss all the questions. And during this camp, we had a chance to reveal our mistakes and fix them.
The camp was important not only because I improved my economic skills, I also gained relationships and friends. I am not sure if I would continue my friendships with other Georgian representatives, but this time I got closer and made good friends. Moreover, I had a great time with these people. I remember a pleasant night when we were playing board games. My favorite (maybe not only mine) game was Catan where you must gather scarce resources and reach the 10 points. It looks like economics - scarce resources, gathering - and maybe this was the reason why I liked it so much.