Economics integrates branches of theoretical
models together and applies them in real life situations, a clear example of
this was when the Brexit referendum occurred. Many politicians had different
predictions and opinions which were based on different models. By studying Economics at university, I feel it
will equip me with further knowledge and understanding of how economies work,
therefore enabling me to have more well rounded opinions on the implication of
situations like Brexit on the economy.
I also study psychology alongside my
economics A Level, I think these two subject link very well together, as
behaviourist economists highlight and point out that humans are not purely
rational creatures and they are not capable of making optimal decisions about
maximizing their own economic interests and subjective desires. Therefore human
psychology is needed to be taken into consideration in order to develop a more
valid economic model.
During Sixth Form, I participated in debate
club, which enabled me to give more organised and structured arguments. These
skills will be helpful towards my university degree, as I am aware that
economics is a subject that requires a lot of essay writing due to it mostly
being an opinion based subject.
I also participated in the student investor challenge;
the knowledge from macro economics has especially helped with this, as I am
aware of the main drivers of stock prices and how stock prices relate to our
economy. Furthermore, I have learnt how important it is to keep up to date with
the news, as global affairs can be narrowed down to being the cause of “booms
and crashes” in the prices of business assets. This challenge has taught me the
significant of the financial markets and sector is to the economy.
In the future I see myself working in the
financial sector, as it is a very significant aspect to our British economy. I
feel like the financial part of a business or bank is the most important, as poor
financial plans could lead to business failure or bank failure, which could
have a negative snowball effect on the rest of the economy. Therefore the large
responsibilities, that is demanded by the financial sector attracts me to work
in that particular field. The NCS project I participated in has enabled me to
further develop my responsibility skills. I worked in a group to fundraise for
a charity that provides basic necessities for homeless people. We managed to
rise over £300 in 3 weeks. I was positioned the treasurer of the charity. This enabled
me to responsibly handle large sums of money and to record and resolve.
Above that, I play piano. I am currently
working towards completing my grade 6. Piano has enabled me to develop my creative
and practical skills, which I feel is an important skill to have to do an
economics degree, as creativity alone enables people to engage in more bold
thinking and try a more innovative approach to dealing with economic issues. My
A level in Product Design has also added to my creative thinking.
I have a huge interest in the fashion
industry, In particular fast fashion which has caused textiles to become one of
the pillars of consumerism around the world, and is a critical driver of the
global economy. Product design has taught me a lot about myself and what I
enjoy which is being creative, practical and having an input in design,
research and the marketing aspect of the challenging industry.
I am very excited at studying economics at
degree level because I enjoy broadening my current knowledge of economic
theory, and applying it to real life situations. I believe that I have grasped
the foundations of the core principles economics from my A level, therefore
doing it at degree level will further expand my knowledge on economics which
will enable me to be more ready and competent to have a job in the field of
economics or finance.