Economics personal statement
A childhood memory of mine is one of the former President Jacques Chirac opening a speech with "An economy is made to serve people, not people to serve the economy". I have grown to appreciate not just the statement but also the sentiment, which indicates the predominant role of economics in maximising social welfare. Economics can be perceived as an analytical subject
orientated with opinionated discussions which perpetually illustrate the ideologies behind the thought to resolve the basic economic problem. Its fundamentality and significance truly inspires me to further study this profound subject.
The global recession and the current economic turmoil have led me to believe that the world is shaped by the predicaments of rationality and uncertainty. I strive to gain a better understanding of this through reading books and discussing current economic affairs amongst peers and teachers. Keynesian economics is of great interest to me, I find the fiscal policies to be very prevalent through government intervention and well explained in "The General Theory of Employment, Interest And Money". However, I consider the increasing of
money supply through the artificial controlling of interest rates to be somewhat detrimental to the economy due to malinvestments. I believe a more organic economy (through deregulations) is a possibility in the near future, as it may be the key to the achievement of sustainable
long term growth.
As a maths student I derive pleasure from solving equations which are deemed challenging, my mathematical abilities have improved from participating in various math activities such as Kumon and the UKMT. I have a particular interest in game theory and its use in economics, the constituents of neuroeconomics and probability to determine the actions of an opponent is a fascinating concept exercised by oligopolists- a concept well demonstrated by Keynes' analogy
of the beauty contest.
Having been born in France I have been compelled to understand its economy, I am amazed by its economic history which consists of wars controlled by the bond market and the first bubble formed by John Law. I have learnt to appreciate the change in the French economy; from
dirigisme to a future possibility of federalism- a true testament to the diverse nature of economics. Likewise, my experience of visiting India for a month gave me an insight to the juxtaposition of its economy, the contrast from the poor regions littered with shanty towns, to the richer parts such as Delhi, has educated me on its developing economy and the impact to its society. The study of both countries has helped me to perceive a more rounded outlook on the world around me.
Being awarded the blue belt in karate has developed my confidence from a young age, the rigorous discipline has taught me to be forward-thinking and well controlled. I presently tutor GCSE to maths and physics student, the experience of maintaining the responsibility of 5 pupils at a time has emphasised the importance of preparation and communication skills. During my work experience at B.T., I was granted the opportunity to work alongside the finance directors where I was given various tasks from leading a team to presenting a basic analysis on current economic affairs.
My passion for economics is fuelled by my desires to understand the mechanism of our economically dominated world and I believe that integrating within university will be of invaluable experience and a great investment of my time.
This personal statement was written by econguy for application in 2011.
Hope it helps :-)
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