Example Economics Personal Statement
My wish to study economics has grown out of an increasing interest in current affairs in the media, and my growing sense that most things in the public world come down to considerations of finance. I am deeply interested in how the world “works”, and the way that politics is so deeply intermeshed with economic realities and the availability of resources. Economics is intriguing because it offers ways of predicting future events and a system of “laws” like a science, and yet it is not exactly the same as a science because of the uncertainty that is central to any analysis of human behaviour. It also has the attraction of immediate relevance. The present economic crisis is momentous, with wealthy countries suddenly, in a few months, coming to the edge of bankruptcy, and the new economies of Asia suffering the disappearance of the markets that have given them prosperity. To work in this field, and to run a business equipped with a sound knowledge of economics, seems to me to be of the utmost human importance and offers great professional satisfaction.
The economics I have already studied has given me a good insight into the way the subject affects our lives. The May general election appeared to me to be a sort of contest between the “Classical” and “Keynesian” theories. I have read widely in the subject, including books by Niall Ferguson, Robert Skidelsky and John Cassidy (How Markets Fail), Dasgupta’s Economics. A Short Introduction, Kay’s The Truth About Markets and Joseph Stiglitz’s Globalisation and its Discontents, and I read The Economist regularly. I am keen to study the ways that consumers behave, how monopolies distort markets, and the balance between markets and human welfare. I am also interested in macroeconomic issues such as the interaction of the main sectors of the economy – production, finance and the labour market. The amount of money in the economy, the way aggregate spending is determined and its relation to supply are fascinating questions. There is much to learn and the concepts are complicated, but the interest, both intellectual and human, is consuming.
I have some experience of the world of business economics; I had a placement as an assistant manager at “Kazakh Altyn”, a joint stock company dealing in mining and metallurgy, where I worked in the international affairs department. I was involved in financial modelling with a group of experts, and I wrote translations of papers from Russian into English. I sat in on company meetings and observed the formulation of company policies. It was a thrilling taste of the reality of the world of big business and international economics. I also had a brief internship at the Kazakh Embassy in London, working as an assistant to the ambassador and writing translations of papers. It was exciting to be at the heart of international affairs in this way, and helped me to develop my communication skills and my ability to work with others in a team.
At school I had a very active life. I attended the after-school economics workshop, where we discussed current affairs and argued about economic theories. I was also a keen sportsman, playing football and rugby for the school team, which was good training in self-discipline and cooperation. I also worked in a drama competition as a director and actor.
I am polylingual, having Kazakh as my mother tongue, and fluent Russian and English, a great asset in the modern globalised business environment. The career options open to someone equipped with an economics degree seem immensely diverse and thus very attractive. Economics is a subject that I feel touches on nearly all human activities in some way, from political decisions to questions of household management and planning how we as individuals wish to live. I have a good academic record, and can promise to make a great success of a degree course, and I hope you will consider my application.
This example Economics personal statement should be used as a point of reference when composing your personal statement on your path to university education.
Free Sample Personal Statement in Economics
Due to the comprehensiveness of China’s “reform and open” policies, economics plays an increasingly important role in the development of its global position. As a senior at Beijing University majoring in Economics, I feel that my field is fundamental to the progress of my country. Yet, at the same time, I realize only too well that what I have learned as an undergraduate is far from enough. Therefore, it is my desire to pursue a graduate degree I Economics at your university. If accepted, my intended concentration would be Economic Development and Public Economics.
In the process of preparing myself for advanced research, I obtained a solid academic background in mathematics, computer science and basic economic theory. In order to enhance my capabilities and further establish my background, I plan to take Probability and Econometrics as my electives during my last semester at Beijing University. During my undergraduate career I was fortunate to be able to audit several advanced graduate level courses taught by overseas professors such as Comparative Economic Systems and Advanced Macroeconomics. These classes not only introduced me to new economic concepts and theories, but also broadened my perspective and gave me new insights into the depth of my field.
After over three years of studying economics and extensive reading in related fields, I have developed my own understanding of the present Chinese economy with system. I feel, and it is an idea shared by many, that the Chinese government is presently struggling to adapt a policy which would peacefully integrate the advantages of a marked economy with the current Socialist system. to a certain extent, I feel that the government has been successful in implementing this aim.
However, many problems have yet to be resolved. Chief among these is the problem of rejuvenating and restructuring the large, state-owned enterprises. As a result under the Chinese socialist system, these companies not only lack a spirit of competition, but are also hopelessly overstaffed. There is a definite need to cut back on workers, many of whom are unskilled and present an unnecessary burden on these companies.
The fundamental problem here is that China lacks unemployment and social security programs, which would be able to assist and re-train these workers should they be laid off. As there are no options for them, the companies are forced to retain these laborers, creating a stagnant state which limits both production levels and net profits. While foreign-imported goods and foreign companies were scare in China, this was not a major problem. However, the influx of foreign goods and corporations has forced China into a predicament where it can no longer afford to maintain useless employees for the benefit of the State. Should the situation here continue unchecked, China risks loosing its domestic marked to foreign companies.
These ideas were the result of my field research conducted during my junior year. During that time, I studied first-hand edly China’s system of public economics and found it lacking in many ways. I feel that if China is ever to be a serious competitor in the world market it needs first to develop a more progressive system of public policies. For this, China will have to look to other systems, which have struggled and successfully handled this same problem. My goal is to continue my education in the United States where I can not only witness the dynamics of an economic system different from ours, but also study the ways in which America’s public policy could be adapted and utilized by China.
In terms of global economics, China still has much to learn. The government is far from reconciling itself with many of the principles that underlie the modern market. I also feel that the Chinese situation is unique, and , that in order to be successful, policy makers must take into consideration regional characteristics, historical tradition and social psychology when defining the course of the future.
However, it is also essential that the future generations of leaders, administrators and teachers learn from other countries in order to better understand the complexity of China’s role within the global economic situation.
The more China’s economy is prosperous, the more it needs its own economists. Therefore, at the end of my graduate study, I intend to return to my country and contribute to China’s economic progress. My ultimate goal is to teach introducing advanced Western research methods to my country and, if possible, tackle some of the economic problems faced by my country.
I am also applying for overseas graduate study because of the fact that the United States holds the leading position in the research of my chosen field. Your institution, known for its careful and exacting work ethic and nurturing academic atmosphere, is the university I have long admired. I am confident that with your distinguished faculty and recognized facilities, my potential will develop into knowledge and experience beneficial to both the United States and China.