The Indonesian Economics Olympiad: A Model of Excellence and Innovation

The Indonesian Economics Olympiad:

A Model of Excellence and Innovation

Indonesia's Experience

The Indonesian Economics Olympiad is a shining example of how structured competitions can nurture and identify economic talent among young students. Led by Dr. Dwi Wulandari, a professor at Universitas Negeri Malang and National Coordinator for the IEO, this competition has become a source of national pride, garnering international recognition with 28 medals and two silver trophies since joining the International Economics Olympiad in 2018.

In this interview, Dr. Wulandari discussed the challenges, innovations, and best practices of the Indonesian Economics Olympiad, offering valuable insights for educators and policymakers worldwide.

Dwi Wulandari

IEO Team Leader and National Coordinator, Indonesia

The Structure of Success: Multi-Tiered Competitions

Indonesia's selection process begins with school-level contests and progresses through city, provincial, and national levels before culminating in international representation. This rigorous system ensures only the most capable and prepared students reach the top.

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Each province is guaranteed representation at the national level. This approach ensures inclusivity and inspires students from remote regions, where educational opportunities may be limited, to aspire for excellence.

Participants are evaluated through multiple-choice and open-ended questions that gradually increase in complexity, ensuring that students master both fundamental and advanced economic concepts. The use of both English and Bahasa in earlier rounds ensures language barriers are addressed progressively.

Holistic Preparation: Beyond Academics

The Indonesian team’s preparation extends well beyond academics. The training program for international competitions begins a year in advance, with multiple stages of intensive coaching. During these sessions, students are assessed on both their academic performance and mental resilience.

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We include psychologist evaluations in the later stages to ensure the finalists have strong mental preparedness. Long flights, unfamiliar food, or facing confident peers from English-speaking countries can be intimidating, and we want our students to thrive under such pressures

This emphasis on mental well-being has paid dividends. For instance, the Indonesian team’s success in the 2023 Olympiad in Greece, despite challenging environmental factors, is a testament to their robust preparation.

Government Support: A Key Pillar

Unlike many countries where private organizations drive Olympiads, Indonesia’s government actively supports the national Economics Olympiad. The Ministry of Education provides funding for participants, training, and organizational logistics.

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Budget constraints are rarely a limitation for us. Our main challenge is finding the right students who can excel at this level. The government even funds alumni to assist in competitions, ensuring continuity and expertise

This model of government-backed support ensures accessibility for students across socioeconomic strata, fostering a culture of meritocracy and excellence.

Leveraging Partnerships

Partnerships with institutions like the Central Bank of Indonesia and major universities have bolstered the program. These organizations provide funding, share expertise, and promote financial literacy through the competition.

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We collaborated to highlight the importance of economic and financial literacy, which benefits students even beyond the competition.

Best Practices for New National Selections

For countries looking to emulate Indonesia’s success, Dr. Wulandari offers practical advice:

Make the Subject Relevant: Emphasize how economics is about making choices and decisions that impact daily life. This attracts participation even from students who might not win but still gain valuable skills.
Ensure Inclusivity: Guarantee representation across regions to inspire students in underserved areas.
Plan Holistically: Combine academic rigor with psychological preparation to equip students for international challenges.

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Grades can be deceiving. We now evaluate attitude, personality, and classroom interactions alongside academic performance to identify truly capable candidates.

The Indonesian Economics Olympiad is a testament to the power of structured systems, government support, and holistic preparation. Under Dr. Wulandari’s leadership, the program continues to inspire and empower students, setting an example for how academic competitions can shape future leaders in economics and beyond.