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With constant exposure to events such as the 2008 financial crisis, creating profound impacts still rippling through our world’s economy, it is difficult to ignore the complex and everchanging nature of our economy that has encouraged me to pursue this degree. The importance and relevance of economic affairs has led me to want to make my own judgments on approaches to solve current and ongoing issues our economy faces.
As a member of Economics Society, my understanding is developed by discussing recent affairs and seeing theories I’ve learnt in class or independently applied in our modern world.
Reading about ‘the prisoner’s dilemma’ in The Economist captivated my curiosity and drove me to learn more about game theory and its many applications to real-life situations. From further reading, I’ve been able to relate it to my understanding of economic behaviour, for example, the decisions oligopolies make over pricing and levels of production. During AS, I found externalities particularly engaging which sparked my enthusiasm to expand my knowledge on the subject.
I find seeing how the government goes about making decisions to ensure allocative and productive efficiency to correct externalities stimulating as I enjoy learning how choices can substantially implicate significant outcomes in the economy.
My eagerness to discover more about economics prompted me to read Hazlitt’s “Economics in one lesson”. The “lesson” is that to truly understand Economics, we must not only think about the immediate but long-term effects of policies, as well as how it effects not just one, but all groups of people.
This book has changed and shaped my thinking as it helped me to assess the consequences of acts and policies in a different, broader perspective. I believe if people stopped to reflect how policies such as minimum wage laws and tariffs affect everyone, instead of just certain groups, we would surely see a fundamental change in economic policy.
Raring to get an insight into an economic working environment, I completed work experience at Nestl?’s finance department. I observed and assisted members of the finance team while they explained their different roles in the sector, giving me an understanding of the way in which they specialised in their fields. I learnt the importance of the division of laabour in large companies and that to be a successful, efficient business, good management and teamwork within the whole organisation is significant. Keen to gain further experience, I also spent a week at a small accounting firm which increased my attention to detail as this was required to produce an accurate balance sheet, avoiding any mistakes when inputting data.
Participating in the NCS challenge built my confidence through public speaking and approaching members of the public to promote our charity. Completing my D of E Bronze award helped me gain invaluable teamwork skills but also challenged me to learn Japanese for over a year. Undoubtedly, this demanded great commitment, but is a step in working towards my goal of living and working abroad. Within school, I’ve taken on roles of responsibility, where I represented my form as captain which greatly improved my organisation and leadership skills, essential for managing a business. Tutoring mathematics involved planning for lessons and exercised my ability to explain concepts effectively which will be essential for a career in Economics. I believe my numerical and analytical skills will be beneficial in evaluating data and models, an aspect I look forward to. Besides academia, I love being a frequent member of the gym and involving myself in events such as The Color Run as it provides a fun way to unwind and a satisfying distraction from work.
With my determined and hardworking attitude, I trust I possess the skills and attributes that will make me a successful Economics student, excelling in higher education and beyond.
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