Economic Innovation

Make A Better World

By Economics

About Economic Innovation

The Economic Innovation (EI) Program is an innovation program that encourages students to explore solutions for economic improvement of people around their communities.

The EI Program is a unique project-based learning initiative that empowers high school students to explore innovative solutions to economic challenges faced by people in their communities. Our goal is to inspire the next generation of responsible leaders to create positive change in the world.

Through the EI Program, students will have the opportunity to work on real-world economic problems and develop practical solutions that can make a difference in people's lives.

We believe that everyone has the potential to be an economic innovator, and we are committed to providing a supportive and inclusive learning environment that fosters creativity and collaboration.

Starting 2024, Economic Innovation will also operate under the new brand Next Responsible Idea (NRI) , marking a new chapter in our mission. Under this fresh brand, we are committed to continuing our work of empowering students to enhance the economic well-being of the communities around them.

"Young people today face many economic challenges, from rising inequality to a changing job market. We need young people who are equipped to solve these problems and create a better future for all of us."

- Bill Gates, Co-Founder of Microsoft

The EI Objectives

To provide high school students with a hands-on learning experience in economics, entrepreneurship, and innovation

To promote critical thinking, problem-solving, and creative thinking skills among students

To encourage students to apply economic theory and concepts to real-world situations

To contribute to the economic development and improvement of local communities

"The challenges facing the global economy are too complex to be left to a small group of experts. We need young people with fresh perspectives and innovative ideas to tackle these challenges and create a more equitable and sustainable economic system."

- Christine Lagarde, President of the European Central Bank

Knowledge and Skills to Master @ EI

Economic Concepts

Students will need to understand basic economic concepts such as supply and demand, market structures, and the role of government in the economy

Data Analysis

Students will need to be able to collect and analyze data to identify economic problems and potential solutions. This may involve using statistical tools, surveys, or other research methods

Entrepreneurship

Students will need to understand the basics of starting and running a business, including business plans, marketing, and financial management

Innovation

Students will need to develop innovative solutions to economic problems. This may involve creative thinking, brainstorming, and collaboration with others

Communication

Students will need to be able to communicate their ideas effectively, both verbally and in writing. This may involve creating presentations, reports, or other types of written communication

Ethics

Students will need to understand the ethical implications of their economic solutions and be able to make decisions that balance economic considerations with social responsibility

Cultural competency

Students will need to be aware of the cultural context of their economic solutions and be able to work effectively with people from diverse backgrounds. This may involve understanding cultural differences in communication, business practices, and social norms

Problem-solving

Students will need to be able to identify economic problems in their community, develop hypotheses, test solutions, and evaluate outcomes

Technology

Students will need to understand the role of technology in the economy and be able to use technology tools to collect and analyze data, communicate ideas, and implement solutions

Leadership

Students will need to be able to work effectively in teams, manage projects, and demonstrate leadership skills. This may involve delegating tasks, setting goals, and motivating others to achieve shared objectives

What Valuables Students Get at EI

Skill-building and Experience

Students gain valuable skills and experience in areas such as research, analysis, problem-solving, innovation, and entrepreneurship.

Certificates of Completion

Students will receive certificates of completion at the end of the program to recognize their participation and achievement

Awards of Excellence

Awards of excellence will be given to outstanding projects or solutions.

Public Recognition

Invited students will present their projects or solutions in the annual Economic Innovation Forum

"Mastering economics is not just about getting good grades or a good job. It is about using economic principles to create a better world. We need young people who can think outside the box and come up with new solutions to old problems."

- Paul Krugman, Nobel Laureate in Economics

The process of a typical EI program

1

Form a team

Students will form a team of five members to work on the project. The team should consist of individuals with diverse backgrounds and skill sets to ensure a broad perspective on the problem.

2

Identify an economic problem

Students will begin by identifying an economic problem in their community that they would like to address. This may involve researching local economic data, interviewing community members, or brainstorming ideas.

3

Research and analyze

Students will research and analyze the economic problem, gathering data and information from a variety of sources. This may involve conducting surveys, analyzing economic data, or interviewing experts in the field.

4

Develop a solution

Based on their research and analysis, students will develop a solution to the economic problem. This may involve developing a business plan, proposing a policy change, or creating a social entrepreneurship venture.

5

Test and refine the solution

Students will test and refine their solutions, gathering feedback from stakeholders and making any necessary adjustments. This may involve piloting a program, conducting focus groups, or gathering data on the effectiveness of the solution.

6

Present the solution

Students will present their solutions to the judging panel representing economists, business owners, community leaders, and other stakeholders. This involves writing a report and creating a video presentation for a community forum.

7

Reflect and learn

Finally, students will reflect on their experience and what they learned from the project. This also involves thinking about what is successful and what can be further improved.

EI by the Numbers

Solution Types

Research Methods

Reflection Modules

Evaluation Criteria

Useful Tools

Check Items

EI Insights

Problem-solving Toolkit for Creating A Social Entrepreneurial Venture

In the Economic Innovation project, students are required to design solutions from three...

What Students Are for Economic Innovation?

The Economic Innovation (EI) Program, a unique project-based learning initiative, opens the door...

Economic Triple Solution Framework

Introduction To encourage students to think critically about the problem and view it from...

Frequently Asked Questions

Who is eligible to participate in the program?

The program is open to high school students who have an interest in economics, entrepreneurship, and innovation.

What economic problems can students work on as part of the program?

The economic problems students can work on as part of the Economic Innovation Program may vary depending on the community students reside. Generally, the program encourages students to identify and solve economic problems in their communities. This may include issues related to income inequality, poverty, unemployment, education, healthcare, environmental sustainability, and more.

What resources and support are available to students who participate in the program?

Students will have access to project templates and guidance, academic materials and guiding tools, standard checklists, and personal critiques from economics experts.

How will students be evaluated and assessed as part of the program?

Generally, students will be assessed on the quality of their research, analysis, and proposed solutions to the economic problem they are working on. This may involve a combination of written reports, presentations, and other deliverables that demonstrate the student's understanding of economic principles and their ability to apply them to real-world problems. Students may also be evaluated on their teamwork, collaboration, and communication skills, as well as their ability to think critically and creatively.

Please check the detailed rubric of EI program for more information.

How do students find and select an economic problem to work on?

Finding and selecting an economic problem to work on is an important part of the Economic Innovation Program. Here are some steps that students can take to identify and select an economic problem:

Research the local community: Students can start by researching the economic issues that affect their local community. This may involve reading news articles, reports, and data sources to identify areas of need or opportunity.
Brainstorm potential problems: Students can brainstorm potential economic problems to work on based on their research and observations. They can consider issues related to income inequality, poverty, unemployment, education, healthcare, environmental sustainability, and more.
Evaluate feasibility: Students should evaluate the feasibility of the economic problems they have identified. They can consider factors such as the scale of the problem, the potential impact of their solution, and the availability of resources and support.
Select a problem: Once students have identified potential economic problems and evaluated their feasibility, they can select a problem to work on. They should choose a problem that is both meaningful to them and has the potential to make a positive impact in their community.
Refine the problem: Students should refine their selected problem to make sure it is specific, measurable, and actionable. They can use research and analysis to identify the root causes of the problem and develop a clear understanding of its scope and impact.

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