Virginia Economics & Virginia Personal Finance Challenges
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The Virginia Economics Challenge & Personal Finance Challenge is an opportunity for students to demonstrate their knowledge of personal finance and economic literacy by competing with other students across the state. Teams of three to four students complete online exams that may qualify them for an exciting championship competition.
The Online Challenge is where students compete by taking a 30+ question online exam at their school (monitored by their coach). Teams – three or four students – earning the highest combined score in their region will be recognized and will be given the option to advance to the state finals. For many students, this academic competition is a capstone to their high school experience.
Student teams can compete in three divisions:
David Ricardo Division (Economics),
Adam Smith Division (Advanced Economics),
Personal Finance Division.
Students competing in the Personal Finance Challenge may also participate in one of the Econ Challenge competitions.
All division exams will take place in March and must be completed by 5:00 pm ET on the final testing window date. The state winner (a single team) will advance to the National Competition in their division.
Adam Smith Division
is for advanced placement, baccalaureate, honors students, and returning competitors.
David Ricardo Division
students participating for the first time and who have taken no more than one economics course.
Personal Finance Challenge
high school students will showcase their knowledge in earning income, spending, saving and more.
Virginia High School State Champions:
The 2026 Virginia State Champion in the Virginia Economics Challenge, Adam Smith Division is Team Economic Explorers from Thomas Jefferson High School for Science and Technology, with Nicole Kim as their teacher advisor, from Alexandria City Public Schools.
2nd Place in the Virginia Economics Challenge, Adam Smith Division is Team Menger from Thomas Jefferson High School for Science and Technology, with Malhaz Jibladze as their teacher advisor, from Alexandria City Public Schools.
3rd Place in the Virginia Economics Challenge, Adam Smith Division is RRHS from Rock Ridge High School, with Steven Mobley as their teacher advisor, from Loudoun County Public Schools.
The 2026 Virginia State Champion in the Virginia Economics Challenge, David Ricardo Division is Langley High from Langley High School with Jennifer Stocks as their teacher advisor, from Fairfax County Public Schools.
2nd Place in the Virginia Economics Challenge, David Ricardo Division is IndyFinancePals from Independence High School, with Surmeet Chhabra as their teacher advisor, from Loudoun County Public Schools.
3rd Place in the Virginia Economics Challenge, David Ricardo Division is DR BEARS 2 from Riverbend High School, with Mary Fehrens as their teacher advisor, from Spotsylvania County Public Schools.
Additionally, the 2026 Virginia State Champion in the Personal Finance Challenge is team TJHSST A from Thomas Jefferson High School for Science and Technology, with Jane Iyengar as their teacher advisor, from Fairfax County Public Schools.
2nd Place is team IndyFinancePals from Independence High School, with Surmeet Chhabra as their teacher advisor, from Loudoun County Public Schools.
3rd Place is team Mitoko8 from Potomac High School, with Jeremiah Mitoko as their teacher advisor, from Prince William County Public Schools.
Virginia Advances to Nationals
Virginia’s Economics Challenge champions in both the Adam Smith and David Ricardo divisions advanced beyond the national semi-finals and will represent the Commonwealth at the National Economics Challenge Finals in Atlanta, Georgia, May 27–29, 2026. The Adam Smith Division champion, Economic Explorers from Thomas Jefferson High School for Science and Technology, and the David Ricardo Division champion, Langley High from Langley High School, will compete against top teams from across the country.
Virginia’s Personal Finance Challenge champion, TJHSST A from Thomas Jefferson High School for Science and Technology, will also advance to the national stage, competing in the National Personal Finance Challenge Finals, held virtually May 31–June 1, 2026.
These competitions reflect the power of experiential learning in preparing students for real-world financial decisions and future success.
Educators are encouraged to begin preparing students now to participate in next year’s Virginia Personal Finance Challenge and Virginia Economic Challenge.
Economics and Personal Finance Regional Winners:
In the Adam Smith Division, the GMU Center Region Winner is Team RRHS of Rock Ridge High School from Loudoun County Public Schools, led by teacher Steven Mobley.
In the David Ricardo Division, the GMU Center Region Winner is IndyFinancePals, also from Independence High School of Loudoun County Public Schools, with teacher Surmeet Chhabra.
The UMW Center Region Winner in this division is DR BEARS 2 fromRiverbend High School of Spotsylvania County Public Schools, with teacher teacher Mary Fehrens.
In the Personal Finance Division, the regional winners are as follows:
GMU Center Region Winner – TJHSST A
Thomas Jefferson High School for Science and Technology | Fairfax County
JMU Center Region Winner – Team 3
Harrisonburg High School | Harrisonburg City
UL Center Region Winner – 1B
E.C. Glass High School | Lynchburg City
UMW Center Region Winner – Fin 1
Riverbend High School | Spotsylvania County
UVA-W Center Region Winner – Virginia High School
Bristol City
VCU Center Region Winner – Tuckernomics
John Randolph Tucker High School | Henrico County
VT Center Region Winner – Rams 4
Highland High School | Highland County
Resources
Student Stories
View stories of few amazing students with real accounts of how the Virginia Economics Challenge & Personal Finance Challenge changed their lives. These students encourage all Virginia High School Teachers to bring Virginia Economics Challenge & Personal Finance Challenge to the classroom.
Current Case Studies
We encourage you to review the issues presented in our current case studies and consider incorporating them into your classroom as group presentations or breakout discussions. These real-world scenarios provide meaningful opportunities for students to apply personal finance concepts and strengthen their decision-making skills.
Past Case Studies
Our past case studies continue to offer valuable learning opportunities. While the scenarios may be from previous years, the financial principles remain relevant. These cases are ideal for group analysis and discussion, helping students reinforce key concepts and evaluate real-world decision-making.
2024 State & Regional Winners
Virginia high school state champions
David Ricardo Division (Economics)
Thomas Jefferson High School for Science and Technology, Alexandria
Teacher: Kim
Team: Economic Explorers
Adam Smith Division (Advanced Economics)
Thomas Jefferson High School for Science and Technology, Alexandria
Teacher: Scott
Team: Thomas Jefferson High School for Science and Technology
Personal Finance Division
Thomas Jefferson High School for Science and Technology, Alexandria
Teacher: Huang
Team: DMV’s Finest
Personal Finance Division
Regional Winners
CNU Region Winner
FC2 from First Colonial High School,
Virginia Beach
Teacher: Weddle
JMU Region Winner
SHS2, Staunton High School,
Staunton
Teacher: Conley-Johnson
University of Lynchburg Region Winner:
6E, E.C. Glass High School,
Lynchburg
Teacher: Whitacre
Virginia Tech Region Winner:
SH_RG_5-2, Salem High School,
Salem
Teacher: Garst
VCU Region Winner:
MLWGS PF224, Maggie L. Walker Governor’s School,
Richmond
Teacher: Anthony
Adam Smith Division (advanced economics)
Regional Winners
CNU Region Winner:
The Knights, Peninsula Catholic High School,
Newport News
Teacher: Weser
VCU Region Winner:
MLWGS AS224, Maggie L. Walker Governor’s School,
Richmond
Teacher: Anthony
David Ricardo Division (economics)
Regional Winners
VCU Region Winner:
MLWGS DR324, Maggie L. Walker Governor’s School,
Richmond
Teacher: Anthony
University of Lynchburg Region Winner:
Team 4E, E.C. Glass High School,
Lynchburg
Teacher: Whitacre
CNU Region Winner:
FAD, Granby High School,
Norfolk
Teacher: Stocks
Past Winners
Adam Smith Division
2022 Thomas Jefferson High School for Science and Technology, Fairfax
2021 Thomas Jefferson High School for Science and Technology, Fairfax
2020 Thomas Jefferson High School for Science and Technology, Fairfax
2019 Maggie Walker Governor’s School Richmond
2018 Thomas Jefferson High School for Science and Technology Fairfax
2017 Thomas Jefferson School for Science & Technology Fairfax
2016 Thomas Jefferson School for Science & Technology Fairfax
2015 Chantilly High School Fairfax
2014 Chantilly High School Fairfax 2013 Chantilly High School Fairfax
2012 Thomas Jefferson School for Science & Technology Fairfax
2011 Collegiate School Richmond
2010 Thomas Jefferson School for Science & Technology Fairfax
2009 Chantilly High School Fairfax
2008 Chantilly High School Fairfax
2007 Chantilly High School Fairfax
2006 Woodberry Forest School Orange
2005 Episcopal High School Fairfax
2004 Episcopal High School Fairfax
2003 Collegiate School Richmond
2002 Douglas Freeman High School Henrico
2001 Colver Hill High School Chesterfield
David Ricardo Division
2022 Thomas Jefferson High School for Science and Technology, Fairfax
2021 Maggie Walker Governor’s School, Richmond City
2020 Maggie Walker Governor’s School, Richmond City
2019 Lafayette High School Williamsburg-James City County
2018 Appomattox Regional Governor’s School Multi-divisions
2017 Appomattox Regional Governor’s School Multi-divisions
2016 Freedom High School Loudoun
2015 Freedom High School Loudoun
2014 Dominion High School Loudoun
2013 Thomas Jefferson School for Science & Technology Fairfax 2
012 Thomas Jefferson School for Science & Technology Fairfax
2011 Jefferson Forest High School Bedford
2010 Chantilly High School Fairfax
2009 Marshall High School Fairfax
2008 W.T.Woodson High School Fairfax
2007 Woodberry Forest School Orange
2006 Chantilly High School Fairfax
2005 Collegiate School Richmond
2004 Governor’s School of SW Virginia Charlotte
2003 Chantilly High School Fairfax
2002 Woodberry Forest School Orange
2001 Clover Hill High School Chesterfield
Personal Finance Division
2022 Thomas Jefferson High School for Science and Technology, Fairfax
2021 Wakefield High School, Arlington Public Schools
2020 Maggie Walker Governor’s School, Richmond City
2019 Rappahannock County High School Rappahannock County
2018 Nansemond River High School City of Suffolk
2017 Rappahannock County High School Rappahannock Co.
2016 Glen Allen High School Henrico Co.
2015 Woodbridge High School Prince William
2014 Rappahannock High School Richmond Co.
2013 Western Albemarle High School Albemarle
2012 Western Albemarle High School Albemarle
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