OUR EVENTS

Welcoming event is a Gala Dinner held on the night before the competition. This event is for the organizers of the International Microeconomics Competition 2018 to officially welcome the participants. This event is also an opportunity for participants to get to know each other, along with each of the team’s Liaison Officer, with whom they will work with in the next two days. There will also be a Technical Meeting, in which the committees will explain about the entirety of the event (i.e. how the competition works, the general rules, the rundown of the program, etc)

Participant are expected to wear formal attires (suit & ties and dress) for these events.

Microeconomic Competition will be held in two days. The first day will consist of Placemnet Test, Preliminary Round, and Elimination Round. The second day will consist of Semifinal Round and Final Round. Competition plot will be more explained in.

 

Competition Guideline.

Participant are expected to wear formal dress for this events.

COMPETITION GUIDLINES

The competition will be held in two days, in which there will be several different rounds and several different system of competition:

The Placement Test is the first test that will be given to each individual of each team. Participants will have to solve fifty general and basic microeconomics problems in an hour. Individual score will be accumulated into team score. Team score will be ranked, and divided into three big groups of teams (from hereon to be referred to as Big Group) which have different levels of scores. The teams from the same Big Group will only compete with each other for the Preliminary Round.

This is done to avoid stronger teams to defeat each other, while passing weaker team to the next round. For an easier understanding, see the figure below.

SCORING SYSTEM

Preliminary Round is the time where teams collect as much score as they can. In this stage, there will be three rounds. In each round, six teams will compete with each other in the same room.

Before each preliminary round, there will be team match up. The match up will be done randomly, but still according to the Big Group.

There will be two sets of problems in each of the preliminary round; Compulsory Questions, which has to be answered by each team, and Optional Questions, which can be answered by any team.

After the Preliminary Round, the scores that each team has collected will be ranked. The top eighteen teams that get the highest scores will proceed to the Elimination Round.

The Elimination Round is an additional one round for the eighteen teams. The system and the process in the elimination round are the same with the preliminary round, but there is no more Big Group. Not only that, the problems given to the participants will be a lot harder and more complicated, and the scores that the teams have collected in the preliminary round will not be accumulated for the results of the elimination round.

The scores that each team gets from the Elimination Round will be used to determine whether or not the team gets into the semifinal round. After the elimination round, the team scores will be ranked, and the top six teams will proceed to the semifinal round.

The semifinal round will be a case study. The case given to the participants will be an issue relevant to the general theme. Each team will be given two hours to prepare their presentation regarding the case, and 30 minutes to present their case (consisted of 15 minutes presentation and 15 minutes question by the jury members and answer session).

The semifinal round will end with three teams with highest scores proceeding to the Final Round. The remaining three teams will compete with each other. The system and the process of the Final Round will be the same as the Preliminary Round, but the problem sets given to the finalists will be a lot harder and more complicated

Each participant will face an individual test consisting of 50 problems, worth 1 point each. Team score is an accumulation of members’ scores.

There will be two sets of problems for each preliminary round:

  • Compulsory Questions : 5 problems, worth 10 points each.
  • Optional Questions        : 13 problems, worth 15 points each.

There will be two sets of problems for each elimination round:

  • Compulsory Questions : 7 problems, worth 10 points each.
  • Optional Questions        : 18 problems, worth 15 points each.

The problem given in a case study related to the theme of this event. The teams in semifinal round will be scored (range from 0-10 points) based on several things:

  • Preparation    : How well are they preparing for their presentation?
  • Presentation  : How well are they presenting their case?
  • Answer             : How well are they responding to the questions given?

Solution : How significant and feasible is their solution regarding the case?

There will be two sets of problems for each preliminary round:

  • Compulsory Questions  : 10 problems, worth 10 points each.
  • Optional Questions         : 20 problems, worth 15 points each.