Economics Personal Statement Example

Economics, defined by the merriam-webster dictionary, is a social science concerned with the analysis of production, distribution and consumptions of goods and services however to me constitutes itself as a subject that tackles reality with mathematical data as evident in econometrics as well as the empathetic observations of human nature that is apparent within behavioural economics. It is precisely this multifaceted quality of economics that catalyses my interest to study it and I trust that the value accrued from an economic degree will aid my understanding of the different layers of economics.

A regular reader of the Economist and Wall Street journal, I have an avid interest in the economics at play in the modern world. For example, I’ve been specifically invested in the neocolonialism present in contemporary African Countries; an article by the Economist titled “the new scramble for Africa” succinctly demonstrates how western powers establish control within the continent through modern techniques in an effort to further their interests. “23 things they don’t tell you about capitalism” by Ha-Joon Chang builds upon this phenomenon as it explains how western countries often influence African countries into implementing policies that promote globalisation despite the growth that many ex-colonial countries exhibited during the 19th century was largely a consequence of their rigid protectionist trade policies.

Having grown up in both Uganda & the U.K has permitted me to expand my grasp of economics in a sense that is not restricted by geographical borders. Experiencing the contrast between two vastly different economies has made my understanding of economics more inclusive & diversified; this is translated into the differing living standards, political climates & natural supply of resources that the two economies have. Uganda, a country majorly characterised by its agricultural sector, contrasts heavily with England, a former colonial power that is long past its industrial days & is now particularly reliant on its service sector. Overall, analysing these economies first-hand has given me a sense of clarity with economics that textbooks & essays cannot replicate.

I took part in charity fundraising which not only strengthened my communication skills as I continuously had to learn how to develop my pitch in an effort to inspire more people to help the cause but also develop my collaborative skills as me and my teammates had to build onto each other’s pitch to achieve a daily goal of sign ups per day. This experience also helped me become more knowledgeable about pressing issues as well as more empathetic towards those affected by them as part of the training required me to learn more about the effects and prevalence of Alzheimer's disease. As a part time job, I took on tutoring which has shifted my perspective of the role of a teacher and student as more nuanced and collaborative as I often learnt from my students despite me being the teacher. It also required me to become a better communicator and listener as well as more adaptable as I had to adjust to my student’s preferred method of learning.

I participated in the 2018 world cup scholars, a stimulating educational program, which tested my essay writing & debating abilities; Investing into improving these skills has facilitated me to digest economic theories more easily as well as communicate my opinions on said theories in a more articulate, appropriate manner. I attended a business & finance online seminar where major firms such as HSBC & St James Place talked about the day-to-day management of their firms: This experience helped me understand the fundamental dynamics of firms, specifically investment banks, which in turn has aided my grasp of microeconomic components of the economy.
I conclude by asserting that I am confident I have the capability, determination and curiosity to learn economics at a higher level.