The Economic Process Contest
The Economic Process Contest is a competition, organized by the Henry Hazlitt Center, in which students studying Economic Process I and II analyze Tópicos de actualidad, the current affairs publication from the Center for Economic and Social Studies (CEES).
Tópicos is a vehicle for publishing articles focused on issues linked to the principles of Austrian economics and is a means for transmitting the principles of classical liberalism. By reflecting on these issues, students reinforce what they are learning in class.
Why was Tópicos de actualidad created?
CEES is a private entity, which came into being in 1959. It was founded by a group of friends who met to discuss why Guatemala is poor and what should be done to get it out of poverty. The answer they found lay with the Austrian school of economics.
During their search for that answer, they came across a pamphlet written by Ludwig von Mises and edited by the Foundation for Economic Education (FEE). A group of them traveled to FEE to learn more about the Austrian school and when they returned, inspired by that pamphlet, they created Tópicos de actualidad.
How to take part?
The Contest is for students studying the Economic Process courses. There are six rounds throughout the year: three per semester. Each round begins with the publication of the corresponding Tópico de actualidad.
The issue to be discussed is published on a Monday at 2:00 p.m. The link with the questions is enabled the following Thursday at 2:00 p.m. The quiz closes the following Tuesday at 2:00 p.m. and the results are published the following Friday.
| Timeline | |||||
|---|---|---|---|---|---|
| Round | Reading | Quiz | Close | Results | |
| First semester | |||||
| 1 | February | 6 | 9 | 14 | 17 |
| 2 | March | 6 | 9 | 14 | 17 |
| 3 | April | 10 | 13 | 18 | 14 |
| Second semester | |||||
| 4 | August | 7 | 10 | 15 | 18 |
| 5 | September | 4 | 7 | 12 | 15 |
| 6 | October | 9 | 12 | 17 | 20 |
Competition Rules
- The questionnaire consists of 15 multiple-choice questions.
- You will answer the questionnaire on Proprofs.
- You will have 30 minutes to complete the questionnaire. If time runs out, the questionnaire will close automatically.
- You can only answer the questionnaire once per round. Upon completing the exam, you will receive a completion certificate. Upload it to MiU. Within the course, there will be an Activity enabled for this purpose. However, if you encounter a problem while filling out the questionnaire, please upload a screenshot of the issue to the corresponding Activity.
- The winner of each round will be rewarded. The winner is considered to be the one who submits the highest number of correct answers in the shortest possible time.
- The final prize will be awarded to the students who have completed the highest number of correct answers in the shortest time, combining the six rounds of the competition.
Tópico and current questionnaire
Tópico for discussion, click here.
Click here to access the quiz for this round.
Advice for the Contest
- Read the article and take notes.
- Have your notes handy.
- The quiz consists of fifteen multiple choice questions.
- Answer the quiz in Proprofs.
- Fill out the questionnaire at a time when you can dedicate time solely to that, and you have a stable internet connection.
- You will have thirty minutes to complete the questions. If you run out of time, the quiz will close automatically.
- You can only do the quiz once per round.
- To give you an idea of the type of questions you will face, you can consult this database of past questions.
- The questions for each round have been previously analyzed using artificial intelligence tools, so we do not recommend that you use these types of tools.
- If you have problems accessing the questionnaire, you can contact us at concursope@ufm.edu.
Winners
The winner for each round will receive a prize. The winner is considered to be the person who submits the greatest number of correct answers in the shortest possible time.
The final prize will be awarded to the students who have completed the greatest number of correct answers in the shortest time, in each of the six rounds of the competition.
| Winners 2023 | |||
|---|---|---|---|
| Round | First place | Second place | Third place |
| Sixth | Rocío Mérida, EPRI | Mariamaite Rayo, EPRI | Erick Escobedo, Clinical Psychology |
| Fifth | Galilea López, EPRI | Andrea Martínez, Dentistry | Isaías Sandigo, Medicine |
| Fourth | Mariamaite Rayo, EPRI | Rocío Mérida, EPRI | Erick Escobedo, Clinical Psychology |
| Third | Cinthia Ocampo, EPRI | Erick Escobedo, Clinical Psychology | Krista Capuano, Clinical Psychology |
| Second | Marimaite Rayo, EPRI | Cinthia Ocampo, EPRI | Erick Escobedo, Clinical Psychology |
| First | Rocío Mérida, EPRI | Cinthia Ocampo, EPRI | Erick Escobedo, Clinical Psychology |
| Winners 2023 | ||
|---|---|---|
| Place | Name | Academic unit |
| First | Erick Fernando Escobedo | Clinical Psychology |
| Second | Krista Capuano Aguirre | Clinical Psychology |
| Third | Luisa Fernanda Rodríguez | Nutritional Gastronomy and Entrepreneurship |
| Previous years’ winners | ||
|---|---|---|
| Year | Name | Academic Unit |
| Primero | Emily Rivas | Dentistry |
| Segundo | Pablo Rosal | EPRI |
| Tercero | Louis Brichaux | EPRI |
Prizes
Winner by round
The winner of each round will receive a book voucher worth Q200, which can be exchanged at UFM Ediciones.
For the first three places of the six rounds
First place
A trip to an international seminar. The trip includes airfare, accommodation, and participation in the seminar.
Second place
UFM Ediciones book voucher with the value of Q1000.
Third place
A UFM Ediciones book voucher with the value of Q500.