Uni Personal Statement Business Economics
Born in the post-communist state of Slovakia with Vietnamese roots, from my early age I was wondering why we were generally living in better conditions than our relatives in Vietnam.
As I grew older, my dad explained me the benefits of policies supporting private property rights and foreign investment to the Slovak economy. On the other hand, the Vietnamese centrally planned economy was holding back the country's development.
Since then, I have observed significant steps done in Vietnam towards economic freedom, as well as the threat to social stability due to growing income inequalities. For this diversity of economics and its social
relevance, I am very attracted to solving such issues and that's why I want to pursue my further studies at university.
Besides being very active during Economics classes, I have extended my scope to include many non-academic activities, too. Last summer, I was chosen to participate at the Summer school of Economics organized by the F.A.Hayek Foundation. At lectures, I was very inspired by the Austrian school views on business cycles.
For example, I agree that the cause of business cycles lies in artificial setting of low interests by central bank.
A good evidence to this is the 2008 US real estate bubble and subsequent global recession. This demonstrates how important the knowledge of economic theories is in order to prevent such catastrophes and that's why I'm so motivated for an extensive study of economics.
At this event, I also realized how much my mathematical background helped me to analyse economic articles and evaluate them in a broader context using the statistics. In addition, the workshops provided me the opportunity to develop my managerial and strategic planning skills via many simulated modules solving social problems such as industrial pollution in developing countries.
As a talkative person with the ability to speak 4 foreign languages, I have always found discussion a good way of gaining different insights into economic issues. Hence, I took the position of a chairman at the Bratislava Model United Nations 2010 discussing the Eurozone Crisis.
What intrigues me is how the crisis resulted from inefficient fiscal governance, and issuing common bonds to solve the credibility problems of less disciplined countries cannot be the long-term solution. As a member of the school debating team, I was able to use the skills I gained from debates such as creating convincing arguments.
They particularly helped me to present my solutions to the issue and defend my views against counterarguments of the audience. Moreover, I have also realized how countries may interpret the data differently.
This illustrates the challenge of dealing with information bias faced by economists when making general statements which I consider an inevitable, but exciting part of economics.
Apart from the projects of economic theories, I have also been involved in a real market analysis. As the part of a mandatory project for Economics, I decided to assess the loss-making business of a local cinema. For the sake of this project, I made a survey among potential customers via questionnaires and created a Facebook fan page in order to gain insight into a declining tendency of cinema's attendance.
The result of my research showed that one of the crucial factors was lack of promotion, and it taught me how important a continual interaction with customers is for keeping their loyalty. This experience has motivated me to study business at university to better understand how firms operate.
I believe that my genuine passion and natural curiosity for both economics and business will make me a suitable student for this course, and I also look forward to being able to positively contribute to the international community at a highly ranked UK university.
Economics and Business Personal Statement Example
I find the complexities of finance and investments utterly compelling. It is an area that can potentially yield enormous rewards, yet at the same time poor investment decisions can potentially be financially disastrous. It takes a certain type of person to succeed in the world of investments. I believe that I possess the personal qualities that are required for a successful career in this sector. I am hard-working; I have a very analytical mind; I am at my best when working under pressure; I am a great communicator. However, to work in investments, I need first to acquire a highly detailed knowledge of the financial world. I know it is necessary to understand areas such as how markets behave, the mechanisms that underpin the global financial network, banking systems and derivatives, to name but a few. At the same time, it is essential for someone working in investment to have mastery of a range of skills, such as quantitative analysis, econometrics, financial decision-making and management. Through studying a Master’s degree in the United Kingdom I will gain this knowledge – both in a theoretical and practical sense – and develop these skills. In so doing, I will be a step closer to my goal of being a world-class investor who is able to assess investment projects and determine their risks and rewards.
It is especially important for me to be able to study in the United Kingdom as it is, in many respects, the heart of the financial world; I would be honoured to have the opportunity to be taught by people who have succeeded in this environment and understand it intimately. At the same time, I look forward to studying alongside like-minded individuals who may one day be global financial leaders. The spheres of finance, business and management are nowadays increasingly global in their reach, and as such it is essential to study them from an international perspective.
To date I have prepared for this career path through both personal study and observing corporate life. I like to immerse myself in economic theories and practical information through reading books on the subject. For example, I thoroughly enjoyed reading The Intelligent Investor by Benjamin Graham. I have found this classic text to be fascinating because it is a window into the mind of a man who pioneered a whole philosophy on the subject of investment. The insights that are outlined in the book have had a very large influence on my understanding of the principles that lie behind sound investment decisions. I also enjoy reading more instructional texts such as Charles Geisst’s Investment Banking in the Financial System. I have found works such as this to be very helpful in enlightening me on opaque subjects such as bond underwriting. I am excited about being able to study these questions in much more depth at university.
In addition to reading as much as possible about economics, business, finance and investment, I have also been exposed to these areas through the professional life of my father, who is a successful businessman in a large corporation. His career has given me the opportunity to learn more about the business world. Informally I have had the chance to shadow him at work; the experience of doing this has been very rewarding as it has taught me a great deal about the demands of working in a high-pressure environment, as well as how businesses function on a daily basis and what role financial questions play in their day-to-day existence. Throughout my life he has also given me the benefit of his experience on the art of management, as well as being active in encouraging me to learn as much as possible about finance. I hope to one day to be able to emulate his success having accrued a similar level of expertise as him. In the shorter term, after completing a Master’s in the United Kingdom I plan to gain additional expertise through further study in China.
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