Networking and Practical Engagement as means of promoting economics education

Taiwan's Experience
Joseph Tsai, Taiwan's National Coordinator for the International Economics Olympiad, has shared with us his journey and vision behind Taiwan's IEO participation. With a strong dedication to building Taiwan’s economics education scene, Joseph sheds light on best practices and innovative strategies that have fostered a dynamic, inclusive environment for young economists. This article delves into the key elements of Taiwan's approach to the IEO, offering inspiration for educators and organizers alike.

Joseph Tsai
IEO Team Leader and National Coordinator, Taiwan
Building from the Ground Up: A Foundation of Passion and Community Support
The Taiwanese Economics Olympiad Competition Organization, a non-profit that Joseph founded, has grown considerably over the years. Joseph highlights that the initial stages involved reaching out to diverse sponsors, including government and private entities, which was crucial for the organization's survival and growth.
Doing everything from scratch could be very difficult… but we were lucky to secure support from notable organizations like HSBC and BCG.
This diversified support network not only provided financial assistance but also professional mentorship through judges and speakers from these organizations, adding invaluable industry insights to the competition.

Joseph also emphasizes the importance of connections. His advice to new organizers is to leverage personal networks and alumni, as they can be a bridge to potential sponsors, mentors, and resources.
If it was not the passion we all had, it couldn’t be anything like this big.
The Role of Practical Engagement: Beyond Classroom Learning
One of the standout features of Taiwan’s approach is their hands-on, immersive learning initiatives. Joseph’s team organizes workshops and field trips to connect theory with real-world application.
We wanted to bring together theory and reality… students who have learned economics so much get to see how it works in life.
These experiences include site visits to social enterprises, where students interview social workers and observe the impacts of government policies on vulnerable communities.

In another example, students tour Taipei’s skyscraper-filled neighborhoods to see “economies of agglomeration” in action, linking textbook theory to tangible outcomes. Joseph asserts that these interactive experiences are transformative for students, who gain a lasting impression of economic principles in practice.
Workshops and Bootcamps: Expanding Access and Sparking Interest
Taiwan’s IEO organizers have designed workshops and bootcamps, which introduce high school students to economics through interactive exercises. Joseph describes these events as pivotal for engaging students from diverse backgrounds:
We introduce students from across the country, and they experience how the IEO inspires students internationally.
These camps allow students to work in groups, practice public speaking, and explore new concepts, such as game theory, through simulation games.

Affordability is another key consideration. By keeping costs around $200–300 for five-day camps, Joseph ensures accessibility for a wide range of students, allowing them to experience economics without the burden of high fees.
Fostering Innovation and Digital Expansion
Looking to the future, Joseph envisions expanding the competition’s reach through digital means. Moving the first round of the competition online is a goal for his team.
We can really enlarge our target audience…students could participate without needing to sit in a venue.
Online formats could allow students from more remote areas to engage, spreading awareness and access to economic education.

In a world where online learning has become increasingly prominent, Joseph’s team is also considering initiatives like video presentations, where students showcase their knowledge and creativity in a one-minute video on an economics topic. Joseph notes that this kind of activity would engage students in a fun, accessible format that also cultivates their presentation skills and passion for economics.
The Power of Personal Connections: Finding Inspiring Role Models
One unique feature of Taiwan’s IEO preparation is the exposure students have to real-world entrepreneurs. Joseph shares examples of successful professionals, like a biotech entrepreneur, who speak about their journey, offering students a firsthand look at how passion and persistence pay off.
It’s really inspiring for students…they could know if you really want to do something, you can take immediate action.
Joseph emphasizes that such mentorship opportunities often stem from the organizers' personal and professional connections, as alumni and friends share their expertise with students. By tapping into their own networks, Joseph’s team has built a supportive, knowledgeable community that enriches the students’ experience.
Advice for New Competitions: Start with Student Engagement
When asked about advice for new national competitions, Joseph underscores the importance of engaging students through dynamic, hands-on activities. Such field experiences create long-lasting memories that bring economics to life, fostering both interest and understanding. He also advocates for a gradual expansion model, advising other organizers to start small but thoughtfully.
Take students to the streets, to anywhere outside the classroom. The first step is moving outwards… immerse students in real-world experiences, as this creates motivation that sustains learning.
Through Joseph’s leadership, the Taiwanese Economics Olympiad has become a model of inclusive, hands-on economic education. By securing diversified support, integrating real-world learning, and fostering community connections, Joseph has established a strong foundation for Taiwan’s young economists. As Taiwan’s national contest continues to grow, Joseph’s dedication to enriching economics education serves as a valuable guide for educators, students, and national organizers worldwide.
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Anna Bondareva
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