Youth Competition in Financial and Economic Literacy 2025 (YCFEL)

Youth Competition in Financial and Economic Literacy 2025 (YCFEL)

The organization Vox Tua invites students from across the country to take part in the inaugural edition of YCFEL 2025 by proposing solutions to the most important economic and financial challenges affecting their generation.

 

What is the goal of our competition?


Vox Tua calls on all Bulgarian high‑school and university students to reflect on the greatest economic challenges facing their generation. The competition is open until September 30, 2025.

The competition aims to:

  • Hear your ideas on some of the biggest economic challenges confronting your generation.
  • Inspire the next generation of economists; our competition seeks to demonstrate how economics is an indispensable tool for addressing important and urgent policy questions.
  • Encourage the next generation of economists to include an even broader range of backgrounds and to show greater creativity and openness to new ideas than the current generation. We invite you to participate in the competition, regardless of your background or your level of knowledge in economics.

Competition Questions

To participate, choose one of the following five questions and write an essay presenting your perspective:

  1. Financial literacy in schools
     In the OECD’s PISA 2018 international study of students’ financial literacy, Bulgaria did not participate, and internal data show that many students cannot explain what inflation, a budget, or credit are. Despite this, economics is not taught as a formal subject in most Bulgarian secondary schools. How does the absence of systematic economic education in high school limit economic mobility and critical thinking among young people, and what reforms could ensure accessible and meaningful economics instruction for all students in Bulgaria?
  2. Digital skills and R&D investment
     Over 40% of adults in Bulgaria lack basic digital skills, and the country devotes less than 0.8% of GDP to public research and development— the lowest level in the EU—threatening its economic competitiveness. In this context, how do the deficit in digital literacy and chronically low state investment in research hinder Bulgaria’s economic growth? Which policies could most effectively reverse this trend?
  3. Tax system and flat tax
     Our team’s survey on youth financial literacy in Bulgaria revealed that half of respondents cannot navigate the country’s tax system and cannot correctly answer “which tax is direct?” In this light, how would you evaluate Bulgaria’s current tax legislation—particularly the flat tax and its prevailing rate? What impact does it have on the country’s economy and competitiveness?
  4. Demographic decline and labor markets
     Between 1990 and 2023, Bulgaria lost over 2 million people from its population—mainly due to emigration and low birth rates—one of the fastest demographic declines in the world (World Bank, 2023). This has created a serious shortage of labor in key sectors such as healthcare, agriculture, and tourism. How does demographic decline change the structure and future of the labor market in your chosen economic sector, and which long‑term policies in education, migration, or technology could compensate for this shortfall?
  5. Socio‑economic barriers for Roma youth
     Only 17% of Roma youth in Bulgaria complete secondary education, compared to over 80% of the rest of the population (Eurostat, 2023). Unemployment and informal employment also remain significantly higher in Roma communities. Despite European integration programs, real outcomes of these policies are often limited or temporary. How do persistent socio‑economic barriers facing the Roma population hinder Bulgaria’s sustainable growth, and which economic or institutional policies could overcome these disparities in a lasting way?

 

Who can participate?

  • Any Bulgarian high‑school student or university student, whether living in Bulgaria or abroad.
  • Participation is individual.
  • No prior knowledge of economics or finance is required.

Prizes
The top participants will be invited to a national conference, where they will present their ideas to a jury and audience. Three winners will be announced during the event:

  • First place: 500 BGN
  • Second place: 250 BGN
  • Third place: 100 BGN

How to submit your entry?

  1. Choose one of the competition questions.
  2. Write an essay of up to 1,200 words in any structure you prefer (e.g., essay, letter, report).
  3. Follow this format:
    • Font: Times New Roman
    • Size: 12
    • Citations: Use MLA style
    • You may include charts or images, but they are not mandatory.
  4. Send your submission as a text file (.doc, .docx, or .pdf) to: flm@voxtua.org

Use of Artificial Intelligence (AI)

  • Use of AI tools (e.g., ChatGPT) is allowed.
  • Warning: AI often produces similar or formulaic answers. This may reduce your chances of winning.
  • We encourage you to predominantly use your own style, examples, and personal perspective.

How will submissions be evaluated?


 The jury will assess each entry according to:

  • Creativity and originality of proposals
  • Skillful use of economic and financial concepts
  • Clear structure and coherence of argument
  • Quality of writing—clarity, precision, and readability
  • Ability to connect theory with practice

DEADLINE FOR SUBMISSIONS: September 30, 2025, at 23:59.