Report: 2nd International Economic Olympiad (ULMA)

On December 6th, 2024, Ulm University hosted the 1st International Economic Olympiad: Ultimate League for Mastery in Applied Economics (ULMA). What began as an ambitious pilot project quickly developed into a successful international competition. Building on this momentum, the second edition was held on January 16th, 2026, further expanding the Olympiad’s reach and strengthening its role as a platform for applied economic learning and international exchange.

The Olympiad in this episode brought together 73 participants from 23 countries, representing 30 universities across the globe. Participants were distributed across academic levels as follows:

• 46 Bachelor’s students
• 23 Master’s students
• 4 PhD student

Participants came from the following countries and universities:

• Armenia: Yerevan State University
• Austria: University of Innsbruck
• Canada: Simon Fraser University, McMaster University, Dalhousie University
• China: Fudan University
• Germany: Ulm University, Darmstadt University of Applied Sciences
• Kazakhstan: KIMEP University
• Lebanon: Lebanese University
• Lesotho: National University of Lesotho
• Lithuania: Kaunas University of Technology, Klaipeda University
• Luxembourg: University of Luxembourg
• Malaysia: University of Putra Malaysia
• Mexico: CIDE
• North Macedonia: University Ss. Cyril and Methodius Skopje
• Paraguay: Universidad Nacional de Asunción
• Poland: University of Warsaw
• Russia: Lomonosov Moscow State University
• South Africa: University of Cape Town, University of Zululand
• Turkey: Turkish-German University Istanbul
• Turkmenistan: Turkmen State Institute of Economics and Management
• Ukraine: Kyiv School of Economics, Ivan Franko National University of Lviv
• United Arab Emirates: New York University Abu Dhabi
• United States: University of Wyoming, University of Michigan
• Vietnam: Foreign Trade University

The Olympiad featured 34 female participants, 38 male participants, and 1 participant identifying as divers.

The Olympiad tested participants across a range of topics in Economics, including microeconomics, macroeconomics, econometrics, and finance. The competition culminated in outstanding performances from participants across the world, with the following students achieving prizes:

Nguyen Ngoc Minh Thu: Foreign Trade University (Vietnam) – Bachelor Online

• Top Scorer with an impressive 92 points out of 100 in this episode.

• Received a Prize as Best Bachelor Student Online for exceptional performance.

   

Yurii Havryliuk: Kyiv School of Economics (Ukraine) – Master Online

• Scored also 92 points, securing a Prize as Best Master Student Online.

    

Zichun Wang: Fudan University (China) – PhD Online

• Scored 85 points, receiving a Prize as Best PhD Student Online.

   

Christof Ganzhorn: Ulm University (Germany) – PhD In Presence

• Scored 77 points, securing a Prize as the highest-scoring doctoral participant in Presence.

   

Lara Santak: Ulm University (Germany) – Master In Presence

• Scored 59 points and received a Prize as Best Master Student for on-campus participation.

   

Thomas Gaus: Ulm University (Germany) – Bachelor In Presence

• Scored 59 points and received a Prize as Best Bachelor Student for on-campus participation.

Most universities participating: 

Canada had multiple universities participating, the Simon Fraser University, McMaster University and Dalhousie University.

The second edition of ULMA brought us just as much joy and inspiration as the first episode. This year, we introduced a slightly revised task format to further strengthen the applied character of the competition. We were delighted to welcome back students from partner universities that have already become valued members of the ULMA network, while at the same time expanding our community by engaging with several new universities from around the world.

Looking ahead, we are currently exploring possibilities to further enhance the international exchange aspect of the Olympiad. In particular, we aim to seek funding opportunities that could support increased in-person participation, for example through travel scholarships, allowing students from different countries to experience the event directly at Ulm University.

A survey was conducted to gather feedback from participants to improve future editions. We aim to make this event an annual tradition, growing its reach and impact every year.

Once again, congratulations to all participants for their hard work and impressive achievements. We look forward to seeing you in the next edition of the ULMA Economic Olympiad!

Best regards,
ULMA Economic Olympiad Team