Economics degree personal statement example (2g)

Why do you want to study this course or subject?

My desire to learn more about economics came about when I incidentally discovered a leaked memo from Citigroup a few years ago, from 2005. Citigroup's strategists summarized that US and other Anglo-Saxon economies were becoming 'plutonomy's', societies where the majority of wealth is held by an ever shrinking minority, and that the rest of society played a surprisingly small role in the economy. Intrigued by this, I did further research and discovered this was potentially the major underlying cause of the 2007 financial collapse. The distribution of wealth was becoming excessively top-heavy resulting in economic growth being achieved through asset-price inflation rather than aggregate demand. This meant that a speculative bubble was required to achieve economic growth, seen previously with the dot-com bubble in 2004, and later leading to the inevitable housing bubble.

Although being unable to study economics at A-Level, I have progressed my understanding of the subject through reading books such as 'Why Nations Fail' by Acemoglu and Robinson, whose thesis was that sustained economic growth could only be achieved by creative destruction leading to the 'circulation of elite'. This meant wealth was unlikely to stay in the same hands as existing technology makes way for more productive and efficient innovations. I found this thesis to be of use for my upcoming Business Studies Unit 4 exam, which focuses on business ventures and international trade with China. The communist country does not undergo as much technological innovation due to the state capitalism system in place protecting existing state owned enterprises, meaning economic growth is likely to stagnate in the near future if reforms are not made, almost parallel to the Soviet Union in the 1980's.

How have your qualifications and studies helped you to prepare for this course or subject?

The application of mathematics to solve real world problems fascinates me and I have recently been researching its uses. One example being during times of war the civilian population is often subject to rationing of basic consumer goods through coupons issued by the government, meaning the consumer's maximization problem is subject to both monetary and coupon constraints, which can be solved using constrained optimization to maximize the consumer's utility function. To prepare myself for mathematical economics I have decided to study AS Further Maths in order to gain an understanding of relevant topics such as matrices. I am also studying an additional statistics module to provide me with a useful background to econometrics.

What else have you done to prepare outside of education, and why are these experiences useful?

Attending an insight day with the Royal Bank of Scotland has improved my teamwork skills, as we had to work as a group distilling data in order to make a decision on an acquisition and present our findings. I was also introduced to the various divisions within an investment bank as well as having the chance to network with RBS staff which introduced me to the prospect of future internships, further reinforcing my drive to succeed in my academic studies. Being a sporting person, having previously been selected to the Oxford Eagles U16 basketball team to play in the National League, and currently playing for a local men's team in the county league has further improved my teamwork and communication skills through working collectively to achieve a common aim. Having a part time job at a local store has improved my time management skills, and the ability to balance studies with other commitments as well teaching me responsibility.

I believe my independent approach to learning and willingness to look beyond the basic concepts are two necessary skills that will equip me for a technical economics degree, whilst my underlying drive to achieve a career in mergers and acquisitions will motivate me to strive for excellence at university.

Universities applied to:

• Bristol
• Bath
• Birmingham
• Newcastle
• Manchester

Grades achieved:

• Maths - A (ba in C3/C4)
• Geography - A
• Business Studies - A
• Further Maths AS - c
• World Development AS - a

How personal statements have changed?

The current personal statement format, with three 'scaffolding' questions, was introduced by Ucas in September 2025. This personal statement was submitted before then, using the old essay-style format. It has been carefully edited into the three-question format, with all of the original wording kept.

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