EXETER — Two teams of students from Phillips Exeter Academy proved their economic prowess May 28-30, earning second-place finishes in both divisions of the 2025 National Economics Challenge — one of the nation’s premier high school economics competitions.
Organized by the Council for Economic Education, the competition tests students’ knowledge of economic principles, analytical skills, and ability to think critically under pressure. The finals, held in Atlanta, featured teams that had secured victories in their respective state-level competitions before advancing to the national stage.
The Phillips Exeter Academy’s Adam Smith team consisted of Steven Chen, Dhruv Nagarajan, Eli Orbach, and Dron Gaddam.
Phillips Exeter Academy took first runner-up honors in the Adam Smith Division, designated for advanced and returning economics students, as well as the David Ricardo Division, for first-time competitors with limited coursework in economics.
The Academy’s Adam Smith team consisted of Steven Chen, Dhruv Nagarajan, Eli Orbach, and Dron Gaddam. The David Ricardo team was composed of Alex Ren, Chris Spencer, Lake Zhou, and David Liu.
The Mt. Hebron High School team from Ellicott City, Maryland secured first-place finishes in both divisions, continuing their legacy as NEC champions. Meanwhile, Lambert High School from Suwanee, Georgia, finished in third place in both categories, earning runner-up honors in front of a hometown audience.
The Phillips Exeter Academy’s David Ricardo team was composed of Alex Ren, Chris Spencer, Lake Zhou, and David Liu.
The NEC finals brought together 16 teams from across the country, challenging students with complex questions— such as “if the United States trade deficit with China increases by $100 million, what can we conclude about the financial account of the U.S. international balance of payments?”
Christopher Caltabiano, interim CEO and chief program officer at the Council for Economic Education, praised participants for their achievements.
“No one expects young people to teach themselves how to read or write,” said Caltabiano. “But too many states let students graduate without teaching them the basic economic principles that are building blocks for success for their lives, their communities and the nation. We congratulate all who taught and learned about economics this year, and all who earned their way to the top in their state and advanced to compete in Council for Economic Education’s National Economics Challenge finals.”
This article originally appeared on Portsmouth Herald: Phillips Exeter Academy students shine at National Economics Challenge
