• CEFC Cambridge Economics and Finance Competition

    Qualifier Round: 7th June, 2025 (Online/Onsite)

    Global Round: October 1st to 6th, 2025 (Cambridge, UK)

    Eligibility: Students in grades 9-12 who are interested in economics and finance are eligible.​

Introduction

About the Organiser

The Cambridge University Finance and Investment Society (CUFIS) is the largest finance society at the University of Cambridge with 4,500+ current members and alumni. They provide their members with access to exclusive events, networking opportunities, and interactive workshops with the leading firms in the financial sector.The Cambridge Student Investment Fund (CamSIF) is the largest student-led investment fund at the University of Cambridge. In the last few years, CamSIF has demonstrated dedication to fostering talent and providing transformative opportunities through sustainable growth in scale and scope. To enhance students' financial skills and expand their professional networks, CUFIS and CamSIF merged in 2024 to form Cambridge’s most influential financial society, offering students a broader range of economic and financial learning opportunities.In order to further expand its reach amongst talented high school students and to lay the foundations for a network of future financial elites, CUFIS X CamSIF will be organising the Cambridge Economics and Finance Competition (CEFC) from 2025. CEFC has a strategic partnership with ASEEDER, which is responsible for the expansion of the competition in Asia, to seek out and develop future leaders in economics and finance (Website：https://www.cufis.org/).

About the CEFC

The Cambridge Economics and Finance Competition (CEFC) is aimed at high school students around the world who are eager to improve their financial literacy. It is dedicated to finding the financial elites of the future, as well as providing an opportunity for the world's best and brightest to integrate into the CUFIS X CamSIF Cambridge Financial Elites Network, gain a deeper understanding of economics and finance, and engage in financial practice.

The University of Cambridge undergraduate programme in Economics, its graduates excel in the financial industry, which fully reflects the close integration of Economics and Finance. Economics emphasises theoretical frameworks, while finance is more concerned with practical applications, and the two complement each other in analysing financial phenomena with economic theories. The Cambridge Economics undergraduate programme covers a number of key areas of finance, such as financial markets, investment, and corporate finance, helping students to understand the workings of financial markets and their impact on economic decision-making.

The Cambridge Economics Finance Competition (CEFC) encourages students to apply their knowledge of economics to explore the logic behind financial markets. In a rapidly evolving world, let the rationality of economics guide you through the uncharted waters of financial markets!

CUFIS X CamSIF Past Sponsors

Apollo Global Management

Evercore

Credit Suisse (UBS)

Goldman Sachs

Point72 Asset Management

Rothschild & Co

HSBC

Bank of America

Morgan Stanley

D. E. Shaw & Co

Glencore

Luno

PJT Partners

Dare International

Qatalyst Partners

Cambridge Economics and Finance Competition

Prestige
CEFC is hosted by the largest finance society at the University of Cambridge which provide exclusive events, networking opportunities, and interactive workshops with the leading firms in the financial sector. The association maintains long-term close cooperation with top financial institutio ns and brings together industry experts to provide participants with the most forward-looking financial practices and resource support.
Economics × Finance
The deep integration of economics and finance, using data modeling, game theory, and behavioral economics methods, enables participants to master logic-driven decision-making thinking. This develops the ability to deal with the complexity of the financial environment and gain foresight and insights.
Financial highland
The winners of the qualifier round will have the opportunity to advance directly to the Cambridge Global Round, an immersive ‘study in Cambridge’. This is not only a high-level academic competition, but also a rare proof of academic ability in economics and finance.
Top-Tier External Events
CUFIS have prepared these events in the past, from speakers and panels, to socials and competitions. Last year, we welcomed such figures as the Global Head of Research at Citi, Global Head of Financing Quants at UBS, and the Co-Head of Goldman Sachs EMEA ECM.You will have more oppotunity to learn the cutting - edge trends in the financial industry.
Practical
Through immersive practical training such as in-depth stock research, market trend analysis, and investment and financing strategy development, participants will refine their data analysis and decision-making abilities under real market conditions, understand the operational mechanisms of the capital market, master core strategies to cope with market fluctuations and lay a solid foundation for future careers in finance.

Development Path

The Cambridge Economics and Finance Competition is divided into two rounds, the Qualifier Round and the Global Round. The winners of the Qualifier Round will have the opportunity to be invited to the Global Round to be held in early October 2025 at the University of Cambridge!

Academic

 
Syllabus
Sample Questions

Modules

1. Microeconomics

Consumer theory, producer theory, market structure, general equilibrium and welfare economics

2. Macroeconomics

Core Economic Concepts, Economic Sectors and Their Roles, Government and Economic Management, International Trade and Exchange Rates, Aggregate Demand, Supply, Economic Cycles

3.Financial Markets

Financial Instruments & Market Participants, Key Market Concepts, Time Value of Money (TVM), Risk & Return, Bonds & Interest Rates

4. Accounting

Accounting Principles, Financial Statements (Income Statement, Balance Sheet, Cash Flow Statement), Asset, Liability & Equity Management, Business Performance & Ratios, Inventory & Cost Management

5.Valuation

Intrinsic valuation, Relative valuation

1.Which of the following is a characteristics of monopolistic competition

  • Price > Marginal Cost.
  • Efficiency.
  • Demand = Marginal Revenue.
  • Homogeneous or similar products.

2.If nominal GDP equals $30,000 and the GDP deflator equals 150, then real GDP equals

  • $200.
  • $20,000.
  • $30,000.
  • $32,000.

3.The primary goal of a financial market is to ___ risk, and __liquidity.

  • increase, increase.
  • increase, decrease.
  • decrease, increase.
  • decrease, decrease.

4.Buying computer to use in the business is an example of

  • a financing activity.
  • an operating activity.
  • an investing activity.
  • a delivering activity.
5.If the intrinsic value of a stock is greater than its market value, which of the following is a reasonable conclusion?
  • The stock has low risks.
  • The stock will offer higher dividend.
  • The market is overestimating the stock.
  • The market is underestimating the stock.