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Economics Personal Statement 2

Sample Economics Personal Statement

Why is everything becoming more expensive? Why can we not print more money? Why are the world’s most developed nations facing economic crises? These questions were amongst many that fuelled my early interest in Economics and made me determined to seek answers to matters that seemed so complex at the time. Inevitably, my questions found no simple answers, but only led to further questions, followed by more questions. In my first Economics AS lesson, I discovered the common response to such questions, which is defined as the basic economic problem: there are limited resources with infinite wants. It is my deep interest in this fundamental economic problem and the solutions to it that has inspired my enthusiasm for Economics.

I am keen to keep abreast of new developments in my field and regularly visit the BBC and Economist websites. Johan Van Overtveldt’s The End of the Euro helped me to understand the problem and its origins and I found his account of how the Euro crisis was caused by inherent flaws in the currency very persuasive. Masters of Nothing by Mathew Hancock and Nadhim Zahawi presented a unique insight into how the economic crisis of 2008 was caused by human nature through greed, recklessness and irrational behaviour. Their insistence that the business cycle is inevitable, and that by recognising this fact we can manage it safely, offered a heartening vision of how human intelligence and understanding could make everybody’s lives more comfortable. I am currently working on an Extended Project examining whether the price of oil will cause the next global recession. My research included studying Jeff Rubin’s Why Your World is About to Get a Whole Lot Smaller and I found his account of our society’s inability to see what our future without oil will look like particularly convincing. My fundamental conclusion is that there is an irreversible, imbalance between a fixed global supply and rising global demand.

Work experience in the accounts department of a London business was particularly useful in giving me an insight into the workings of the financial world. I was entrusted with the responsibility of working independently to record the company’s financial activities. As a member of the Surrey Chamber of Commerce I attended weekly meetings and worked as a member of a business team with the aim of raising money for a local charity.

Maths A level is both challenging and enjoyable. I have developed better analytical skills when dealing with statistical data, which complements Economics very well. Geography has also been a great support to my Economics studies. I particularly enjoyed exploring the question of environmental sustainability and how it crosses over with microeconomics topics such as the tragedy of the commons. My commitment to my studies is reflected through the awards of Excellent Achievement at GCSE and AS Level.

Throughout school, extra-curricular activities, sports and an active social life have been carefully balanced with my academic studies. Having been elected Humanities Prefect and Vice Head Boy, I have developed a number of skills. My public speaking has improved greatly and I have demonstrated my willingness to challenge myself and actively seek responsibility. The Bronze Duke of Edinburgh award gave me the opportunity to take on many new challenges and the assessed expedition taught me how to work in demanding situations and how to deal with different people. I also undertake voluntary work at my local hospital. Basketball is my chosen sport and I had the honour of being selected Captain of the school team. The sport has shown me the true meaning of teamwork and how to lead by example.

I believe, without a doubt, the discipline of Economics is right for me. I am an inquisitive, hard-working and dedicated student and I look forward to immersing myself in the university environment, meeting new people and delving deeper into answering my Economic questions.

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