Economics degree personal statement example (1q) Cambridge offer

This is a real personal statement written by a student for their university application. It might help you decide what to include in your own. There are lots more examples in our collection of sample personal statements


Everyday, we are faced with choices. Whatever their magnitude, economics encourages a logical approach to making informed decisions and promotes a thorough analysis of the world around us. For instance, visits to India, my birthplace, have allowed me to observe a huge diversity in living standards and the effects of rapid economic growth.

Gaining a first-hand insight into India's growth, I have greater understanding of why the market has expanded so quickly. I have seen the impact of the development of a globalised market and the importance of increased foreign investment there since economic and political reform in 1991. This has led me to read books including Wolf's 'Why Globalisation Works'. It was an insightful read, which suggested that it is largely the failure of governments and political organisations such as the IMF, not the market, that has hindered economic progress through globalisation. With the erstwhile Raj Licence system in India stifling competition and reducing incentives for innovation, the importance of a government's role in the economy is clear. However, 'Globalisation and its Discontents' by Stiglitz showed me there are also issues with current global development through market forces. The negative effects of overpopulation in cities and unchecked pollution are some of the important concerns that must be resolved. I enjoyed writing an essay on 'a global currency' for the RES essay competition, as it allowed me to study independently. This involved me reading Krugman's 'The Return of Depression Economics', which highlighted the influence of market forces on government policy. It was striking to see governments using contractionary policies in a recession to raise the value of currency 'to please the market'. Actions by the current UK government show me that this influence is not restricted to developing countries.

I am taking part in the Target 2.0 challenge, allowing me to gain a better appreciation of trade offs in monetary policy. I hope to improve my statistical analysis and presentational skills. As I would like to work as a central banker or economist, I also wish to gain a useful insight into their work. These careers would allow me to apply the theory I hope to gain in my studies. Having studied 'Theory of the Firm' at A level, I enjoyed reading about the Prisoners' Dilemma, a model of game theory. To further my understanding of the topic, I read 'Thinking Strategically', which showed me the importance of transparency in collusion between firms. Heilbroner's 'The Worldly Philosophers' allowed me to see the historical context in which economic concepts were established. These applications of maths and history in economics appeal to me, as they allow me to combine my various academic interests effectively.

As a co-founder of Economics Society at school, I am instrumental in coordinating debates on current issues. I peruse newspapers including the Telegraph, Economist and NY Times, where I read about US healthcare reforms in Krugman's column. Whilst his assertion that the state should provide universal healthcare is a valid one, a centralised system like the NHS can suffer from diseconomies of scale. A better solution may be a private system that encourages competition and innovation, with government aid for those on low incomes. Attending STEP classes at King Edward's School, I have improved my problem solving faculties, learning to apply maths to subtler situations than those in the A level course. By partaking in Debating Society, I have enhanced my skills of argument. Attending a 'Dicey', a political conference in Oxford, I was able to develop these skills further in syndicate discussions. As a prefect and junior school mentor, I require time management and leadership skills. I have enjoyed these activities and responsibilities, and hope to be just as involved at university. I would relish the chance to study economics at university and hope to be a success at your institution.

Universities Applied to:

  • Christ's College, Cambridge (L100) - Offer A*AA (Firm)
  • Josephine Butler College, Durham (L100) - Offer AAA (Insurance)
  • LSE (L101) - Offer A*AAE (A* in maths, E in further maths)
  • UCL (L101 with year abroad) - Unsuccessful, they said I should have mentioned the year abroad in my personal statement.
  • Warwick (L100) - Offer A*AAA

Reviewer comments:

  • Second paragraph is very strong, exploring interests through two books. To make it even better, remember to answer the question "why did this interest me?".
  • Great section about aspiration towards a future career as this shows ambition.
  • Good size of extra-curricular section, 20%.
  • Too many skills mentioned in the final paragraph. Make sure not to just state skills, they must be relevant to the degree you are applying for.
  • Can remove A-level content and expand more on the books.
  • Start of statement is a bit cliched with a very brief sentence.

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