How To Write An Economics Personal Statement

My urge to study Economics at university derives from my fascination with the world’s tremendous rate of change. I am fascinated by development economics, and I feel that the greatest difficulties we will face in the future will be economic. 

I’m fascinated by both ongoing concerns, including such allocating limited resources and the ‘tragedy of the commons,’ and problems that are becoming more acute in recent times, such as globalization and global poverty.

I found how historical economic concepts may be applied to present problems while reading for my Economics class. Harford’s presentation in “The Undercover Economist” of how Ricardo’s 1817 farming study could explain a range of events, including coffee shops and high rent rates in London, piqued my interest. 

It’s Good To Know: How To Write A Personal Competencies Statement For University

After reading an article in the June 2015 issue of ‘The Economist’ regarding high taxation in poor nations, I decided to read Collier’s ‘The Bottom Billion.’ Because it challenged the low taxes neoliberal orthodoxy I had previously met, I was lured to the concept that this may encourage growth. 

Despite some of Collier’s proposed remedies being contentious, such as military action, I believe they are reasonable and might be quite beneficial. Naturally, I have not yet examined all of the answers proposed by other economists, but I feel that finding feasible solutions is tough and fascinating work.

I learned more about the application of economics to real-life situations as a result of my work experience at Emirates NBD. The real-estate team demonstrated how scarcity affects the property market: even though the housing market was in a depression in 2011, a Mayfair flat sold for more than the asking price owing to localized demand. 

I also interviewed the UAE’s Head of Treasury, who explained how interest prices are calculated and what the net interest margin is. This inspired me to learn more about financial management: I can now monitor market movements in ‘The Financial Times’ with a well-informed perspective. Because I live in Spain, I find studying European economics extremely fascinating. 

I appreciate watching the economies of Spain and the United Kingdom, especially comparing the tactics used by the Bank of England and the European Central Bank to address their varied economic difficulties. Even though both Spain’s and UK’s economies rebounded slowly – the UK’s recovery taking the greatest in recorded history at 300 years — the Spanish rate of unemployment has consistently outperformed the UK’s. 

Understanding the elements that contribute to Spain’s persistent crisis is a fascinating challenge for me. Learning a second language has broadened my horizons and given me a more global view. 

It allows me to follow news from a variety of sources, providing me with different perspectives and keeping me up to date on Hispanic countries. Math is an important element of economics since it converts theories into real applications, and I’m excited to expand my information and skills in innovative ways. 

Tennis and drama are two of my favorite things. Last year, I earned my Silver LAMDA certification, which required dedication and meticulous time management. 

By tutoring math, I’ve improved my communication skills, particularly my ability to express complex knowledge straightforwardly. Economics is at the heart of the human experience, providing the means to comprehend some of the most essential motives of individual states in our increasingly connected economy. 

I’m looking forward to learning more about the world in which we live and, maybe, helping to shape it for the better throughout the future.

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