Economics Management Personal Statement Example

Whilst vacationing in Los Angeles, contrary to my expectations, there was an unavoidable inequality gap and poverty was as prevalent as the pharmaceutical industry, liquor stores and fast food restaurants. Economics is fundamental, the influence is seen throughout the politics and culture of a society. The monopolistic markets that exist in LA have evidently abused their power, as numerous market and government failures are present in the fast food business such as, products quality suffering due to the lack of competition, and consumers having little choice over what they eat. Asymmetric information has caused negative externalities as consumption of such unhealthy food means 24.2% of the population is obese. This affects unemployment the crime rate and the growth of their economy. Evidently, economics shapes the world we live in and Economics has led to me developing an understanding of these situations using theory to explain complex economies but also imminent uncertainties and I am now able to make an economic judgement using logic and reasoning.

I have found the dynamic nature of Economics most exciting because it allows me to keep up with current affairs such as Brexit and develop a deeper appreciation of national and global economies and how interdependent we all are. I enjoy frequently reading news articles and independently attending countless public lectures including those led by Christian Gollier and The Bank of England governor, Mark Carney. My favourite event being, the London School of Economics lecture. “Who are we? Hate, Hostility and Human Rights in a Post-Brexit World”. This inspired me to further develop my Extended Project Qualification topic, where I deliberated the role the media and political parties played in influencing the results of the June 23rd referendum, by exaggerating unrealistic effects of immigration. My EPQ is heavily influenced by behavioural economics as I unpick the nudge tactics used by the government to cause social division and not social cohesion. Choosing to take up the extended project has strengthened my existing knowledge of the subject, independent learning abilities and equipped me with advanced research skills.

Being a member of the college council was challenging but has benefited me greatly. In this role, I led assemblies and worked with the other students to address issues brought up by our peers. Along with this, I volunteered at a sporting event for under sixteen-year-olds in the Queen Elizabeth Olympic Park. Both positions meant I was responsible for the successes and failures of my team. Through debate club, I have gained the essential skill of analysing arguments and constructively responding which allows me to critically examine thesis and counter argue effectively in essays. The NCS Challenge was a great learning experience, I particularly enjoyed the 3rd week as it was the most challenging. In true “The Apprentice” style, we pitched products we created to potential investors. This experience awakened my innovative and competitive spirit. I initially took part in these enriching activities to build up self-confidence. But the rewards have been much greater as I have learnt how important organisation, leading by example, conflict resolution and strong communication skills are. Outside academia, I have created a Depop, where I sell clothes. Due to me marketing my products on social media, I have successfully gained many followers and continue to sell multiple items each month. I love art and have begun painting during my spare time.

It has always been my intention to continue my higher education in Economics, I look forward to the social aspects of university life but most definitely the chance to strengthen my analysis skills, knowledge of theories, the behaviour of economic agents and financial markets as I believe these skills will enable me to make optimal decisions, predict financial trends and lead a successful career as an economist.