LFMI to Hold Second Nation-Wide Economics Exam

Real estate or cryptocurrency, which is a better investment? Taking out a loan or saving, which is a better choice? People make economic decisions and face challenges on a daily basis and should be well prepared to overcome them. Therefore, on March 27th, 2019 the Lithuanian Free Market Institute will hold online National Economics Exam for pupils, university students and everyone who would like to measure their knowledge of economics.

Held for the second time, the examination will cover some of the key topics of the discipline, including the fundamental principles of economics, personal finance, entrepreneurship, economic policy and international markets. The participants will compete in three categories and will have to answer 29 thought-provoking multiple-choice questions and an open-ended question, all prepared by Lithuania’s leading universities, renowned economists and teachers of economics. The questions will be of practical nature, designed to encourage critical thinking and problem solving, not to measure purely theoretical knowledge.

To hold a nation-wide exam, the Lithuanian Free Market Institute partners with the Lithuanian National Radio and Television, the Ministry of Education and Science, Lithuania’s leading universities, educational institutions, school teachers, economists and a dozen of business companies, all realising the importance of economic literacy and eager to challenge the status quo.

Over 11,000 people from all over the country registered to take the exam last year, 6,629 of whom completed the test. School pupils (2,903) and general population (2,701) were particularly active in taking the exam. On average, participants responded correctly to 18 out of 29 multiple choice questions and 66 participants proved their excellent knowledge of economics by answering successfully all questions.

Are you interested in measuring your knowledge of economics? Register now and take the exam on March 27th, at 10 a.m. at http://ekonomikosegzaminas.lt