The Governor’s Challenge is an online and live economics and personal finance competition for Virginia high school teams.

  • There’s no charge to compete.
  • Get students fired up about economics and personal finance
  • Motivate them to learn and excel
  • Encourage healthy competition and school pride

How Does the Challenge Work?

Teams of up to 4 students compete in one or two divisions: Personal Finance, Adam Smith Economics Division and David Ricardo Economic Division (descriptions below). Each team member has 35 minutes to complete a 30-question online exam with questions that align with Virginia’s economics and personal finance SOLs.

Division teams (four students) earning the highest combined score in their region will receive an award and the option to advance to the live competition in Richmond on April 24, 2020.
At least 12 teams in each division are invited to compete in the Virginia Championship held in Richmond,  VA.

Regional winners in the Online Challenges as well as top scoring teams (not to exceed one team per teacher in that division) are invited.

Regions are based on 8 regions set by the Virginia Department of Education and one region for multidivision online teams.

Teachers/advisors may obtain individual and team test scores from the online test once the testing window closes.

How do the divisions of the VIRGINIA STATE Championship Competition Work?

In the Personal Finance division, invited students present recommendations based on issues set out in a case study. A written portion is submitted in advance. Click here for details.

In each of the Economics divisions (Adam Smith and David Ricardo) students test their knowledge in the morning. Students from the top scoring teams face off in a Quiz Bowl to determine the top team.

Virginia’s state championship teams and their teacher from each division may be able to participate in national competitions with some expenses covered as explained here.

Teacher Registration Is Open!

Registration and information for the online competition for the Econ Challenges. The challenges run March 1 – March 27.
Registration and information for the online competition for the Personal Finance Challenge. The challenge runs March 1 – March 20. The case study will be due on April 3


Personal Finance

For students enrolled in a course that includes some personal finance content.

Adam Smith

For students enrolled in IB, AP, honors, college-level or 2-semester micro/macro economics course.

David Ricardo

For students enrolled in a 1-semester general econ course – including courses taught to satisfy the Economics and Personal Finance requirement – or any course that teaches econ-related content not labeled AP, IB, honors, or college level (Government, Business, World Geography). Teams that participated in a previous State Championship must compete at Adam Smith level.

Additional Information

Important Dates
Personal Finance Case Study
Championship Challenge Details
National Championships
Past Winners
2019 State & Regional Winners


Ruth Cookson or 757.683.5570 for questions regarding the Online Challenges.

Thanks to the sponsor of Governor’s Challenge, Capital One.  Additional thanks to the VA Department of Education and members of the business community who serve as judges for final championship rounds.


David Ricardo Division (Economics)

  • 1st Place: Lafayette High School, Williamsburg-James City County, Teacher: Jodi Consoli
  • Runner Up: Appomattox Regional Governor’s School, Multi-divisions (Chesterfield area), Teacher: Emily Hardesty

Adam Smith Division (Advanced Economics)

  • 1st Place: Maggie Walker Governor’s School, Multi-divisions (Richmond area), Teacher: Julius Oreska
  • Runner Up: Thomas Jefferson High School for Science and Technology, Fairfax County, Teacher: Malhaz Jibladze

 Personal Finance Division

  • 1st Place: Rappahannock County High School, Rappahannock County, Teacher: Linda Petty
  • Runner Up: Amherst County High School, Amherst County, Teacher: Segar Jordan

>>  Click Here for the Entire List of 2019  winners & InVITED TEAMS.
>> Click Here TO READ the Official Press Release.