1. “Developing the spirit of entrepreneurship in young people” CEDEFOP Study visit No 157 ITALY - 30 th May – 1 th June 2012 ‘The Young Economist Competition ’ of the Union of Economists in Bulgaria Developed by Prof. Dimitar Hadjinikolov

2. The Union of Economists in Bulgaria (UEB) is successor of the the Bulgarian Economic Association, founded in 1895. The UEB is part of the network of professional organizations, united in the Federation of scientific and technical unions (FSTU), founded in 1885 in Sofia Photos: right - building of FSTU and the UEB office, left – UEB press-conference on adopting the 2011 state budget.

3. AIMS OF UEB To promote economic prosperity in Bulgaria To promote economic prosperity in Bulgaria To promote the development of economic studies and education in Bulgaria To promote the development of economic studies and education in Bulgaria To participate in the development and implementation of modern instruments of economic policy on micro and macro level. To participate in the development and implementation of modern instruments of economic policy on micro and macro level. To strengthen and expand international contacts of Bulgarian economists with economists from other countries on the basis of mutual cooperation with similar organizations. To strengthen and expand international contacts of Bulgarian economists with economists from other countries on the basis of mutual cooperation with similar organizations. To organize events promoting good practices in the field or economic theory and practice. To organize events promoting good practices in the field or economic theory and practice. Address : Union of Economists in Bulgaria 1000 Sofia, str. “G. S. Rakovski” № 108, floor 4 Tel./Fax: +359 2 987-18-47 E-mail: economics@financebg.com ; unieconom@abv.bgeconomics@financebg.comunieconom@abv.bg http://union-econ.com

4. The Young Economist Competition The competition has been held since 2004. This year will be its 9 th edition. The competition has two categories – for university students and for pupils from vocational schools of economics. Competition topics are different for the two categories – e.g. in 2011 university students had to write about the state budget in an economic crisis; the pupils had to write about the marketing strategies of firms during an economic crisis. Winners are awarded on the June 11, which is the professional holiday of Bulgarian economists. This year the award ceremony will take place in the oldest university in Bulgaria The Svishtov Academy of Economics.

5. The Young Economist Competition The performance of competitors is assessed by two reviewers. Each reviewer independently assesses applicants in terms of the following components: content, methodology, style, applicability. Each component is given scores from 0 – 10. To qualify for the awards an applicant’s work should have been given a minimum score of 30 points. Assessment is anonymous. Winners are presented with financial awards or certificates of achievement. University students and pupils are awarded separately. (photo: pupils – winners of the competition)

6. Big Bulgarian firms often become co- organizers of the competition and provide some of the financial awards. In 2010, DSK Bank was co-organizer. In 2011 ZAD Bulstrad Vienna Insuranc group was co-organizer. Each author or team can participate with one work, with a text up to 10 standard pages including figures and tables. The best works are published on the web-site of the UEB. The Certificate of Achievement obtained from participating in the competition is recognized as an important prerequisite for successful professional realization of university students and pupils studying economics..