Economics Personal Statement

Example Economics Personal Statement

Economic principles shape our world more than any other factor and understanding these principles allows us to understand their significance in our own lives. But economics is not only about people. At its core remains an objective, mathematical approach that offers potential solutions through the application of logic. It is this combination of social engagement and mathematical accuracy that attracts those of us with the ability to balance these two aspects in our academic approach.

My aptitude for mathematically related subjects is apparent throughout my academic career. Gaining excellent GCSE results across all subjects, demonstrating my hardworking approach to study, my best results were within subjects with a high mathematical content, including A*s in Maths, Chemistry and Physics, amongst others. Continuing with several of these subjects through to AS-Level I gained straight A grades and am predicted A*s at A-level. I will also be taking Further Maths in my final year at school in order to gain a broader understanding of the more complex theories that I will encounter during undergraduate study.

Since studying Economics to A-level my interest in the subject has been heightened to the point where I have supplemented my official study, attending a lecture at Birmingham University on Game Theory and Behavioural Economics, a fascinating experience that inspired me to read Ken Binmore’s ‘Introduction to Game Theory’. I was particularly intrigued by the Nash Equilibrium, highlighting how the application of mathematical principles are key to the foundation of economic hypotheses, and expressing the fundamental centrality of mathematics that attracts me to the field. Studying Auction Theory, demonstrating how to calculate your own bid in expectation of a competitor’s rational behaviour, showed me how exciting the application of these hypotheses to a social context can be.

I have also explored the application of economic principles within an employment context. During a placement with AMP Wealth Management I compiled a report on the impact of economic changes on the wealth management industry, drawing regular reading of The Economist and John Kay’s ‘The Truth About Markets’. The experience of writing this report, alongside a competitive advantage report, broadened my understanding of the application of economic principles, such as how global markets can undergo a bubble followed by a recession, and the effect that company size and diversity of client base has on mitigating these circumstances. A placement at West Bromwich Building Society Headquarters offered an opportunity to witness the application of mathematical models in the world of finance, including risk management and stress testing on loan holdings. Observing the effect of macroeconomic policy in this context inspired my prize essay on securitisation and its effects on the economy.

Alongside my academic record, my extra-curricular activities have also prepared me for study. I have represented my school and local team in cricket, improving my teamwork, and regularly play tennis and golf. My position as a senior NCO in the RAF gives me responsibility for training junior cadets, instilling the importance of preparation, discipline and communication, while organising charity events has honed my ability to structure my own timetable within tight deadlines.

My positive, motivated attitude to work has allowed me to perform to a high standard throughout my academic career thus far. Combining this with my analytical approach to problem solving and interest in the subject will ensure I continue to perform to the best of my abilities in a stimulating and demanding field.

This example Economics personal statement can be used as an informative guide to write your own personal statement to further your university education.