Are you required to write an outstanding personal statement for Economics because you want to secure your place for economics higher studies at the best university in your country or even abroad?
This blog is a comprehensive guide that can certainly help you in this regard. In this blog, we have included all the information you are looking for such as:
- Economics personal statement structure you need to follow
- The recommended length and requirements you must adhere to
- Writing tips and mistakes to avoid
- A couple of real-world economics personal statement examples
What Is Economics Personal Statement?
An economics personal statement is a piece of writing that a student will produce at the college or university when they apply for admission to an economics higher study program.
It describes why the student is applying for the economics program, what he plans to achieve through the degree and what he wants to become after successfully completing the course.
Why Are You Asked to Write an Economics Personal Statement?
- You need a personal statement for economics degree as part of your application procedure.
- It helps you communicate a few important things about yourself to the selection committee of your respective university before the face-to-face interview.
- Economics personal statement help you convey why you fit into an economics program
- A well-drafted and comprehensive personal statement helps the admission panel figure out in what different ways you are distinguished from other applicants.
How to Write a Personal Statement for Economics?
Follow the below step-by-step procedure to develop a comprehensive economics personal statement.
Research contemporary economics:
Don’t write an economics personal statement without researching contemporary economics, its scope, career paths you can choose in it etc.
Go through the institute’s guidelines:
Find out what your institute wants you to focus on in your personal statement. If they have given any special instructions and prompts, adhere to them and cover all of them in your writing.
Draft your outline:
After you have gathered all the points and know the structure to use, draft an outline. Don’t look for perfection at this stage. Do that in the next phase of your writing.
Develop your full document:
In this step, develop each part of your personal statement into its full structure. Develop the introduction, body and conclusion. Replace words that look out of place and points that look irrelevant.
Given that a personal statement is crucial in the final shortlisting of candidates, you can’t afford to have any mistakes in it. Proofread and get rid of all possible mistakes you may have overlooked during your writing.
Finalize and submit on time:
Get someone else to read and give you constructive feedback for improvement. Finalize your paper based on those and submit your application on time.
Economics Personal Statement Examples
Growing up in a progressive economy in India, I witnessed both economic crisis and boom over the last decade. Particularly, I would mention the impact of The Great Recession of 2008 on India, that I observed as a school-goer. Maturing over the years, I fed my curiosity over this subject that defines the economic success of the globe all these years. I am a regular reader of The Times and the Economist, which shaped my perspective on this domain over the years. Eventually, my orientation and academic interests both shaped my fascination with this subject.
As a discipline, economics is strongly grounded in a position that impacts the quality of lifestyle of people across the globe. My inclination towards economics was such that I selected this subject, along with mathematics and economics during my intermediates. Studying statistics during my graduation, along with economics honours established me at the foundational level in the industry. However, I believe that global economics keeps evolving, and there’s a lot more to master. Economics is a subject, with which I can connect people and the world.
Presently, I spend a significant amount of my leisure hours, watching global news and keeping myself abreast with the developments on the business grounds. My passion for economics gets fuelled, as I get to learn about mergers, acquisitions, stock market booms, and inflation. I believe that a specialized knowledge in the area of my interest will leverage me to a position, where I would have the power to control these aspects to a certain extent, advising my organization with the right knowledge. This would also help me contribute with valuable decisions to my employer. Through my readings, I have realized that historical economic models are still relevant to modern situations. Whether it comes to controlling inflation, or advising stock market investors, this knowledge would prove valuable for me. I believe that it would be a fascinating experience for me to apply my theoretical knowledge on the practical ground, once I establish myself with adequate knowledge. Given that I have acquired two years of experience after completing my graduation in economics, I can align my existing knowledge with the fresh skill sets.
To leverage my knowledge in the subject, I have signed up with multiple online newspapers. At the same time, I nurture my knowledge through relevant magazines and journals. Over the last two years, I have been engaged with a job involving management practice. In the process, I could significantly leverage my organizational skills. Besides, I acquired relevant knowledge in business and management. These areas are intrinsically connected to economic theories. I love spending my time working with the administrative staff closely to learn directly about the industry. I also realized that theoretically, I had studied these aspects during my graduation. It is exciting to learn on the practical front.
Economics, I believe, holds the key to elevate the standard of lifestyle. It provides mankind with the tools for understanding some of the prime motivations of countries and their people. As the world keeps globalizing, challenges for economists grow tougher to come up with effective solutions for the persisting economic issues. I would love to capitalize on this opportunity and walk in the shoes of an accomplished professional, preferably a financial advisor. In India, skilled and certified professionals enjoy lucrative career opportunities. It would be a pleasure for me to work for my country on gaining the necessary skills and insights.
I have scanned through the official website of your university. It would be a logical decision for me to pursue the program your institution is offering. All the modules are closely associated with the needs of the industry. I have also gone through the website to know about the campus life, faculty, and amenities for international students. A dynamic academic life awaits me in the UK. I would like to integrate myself into the progressive academic environment in the country and leverage my profile. The UK is one of the finest academic destinations across the world. It is known for the high value of education. Degrees obtained from universities in the UK are valued by employers across the world. I would like to streamline my career on completing this program. This course will bridge my passion and ambition, paving my way to embrace a happening career in my country.
Personal Statements for Economics Specializations
Economics is a wide subject with so many specializations to choose from. If you are opting for specialization, you may need to write a successful economics personal statement tailormade for that specialization. Here are some economics personal statement examples written that way.
- Economics and finance personal statement
- UCAS economics personal statement
- Economic history personal statement
- Health economics personal statement
- Behavioural economics personal statement
- Economics and management personal statement
- Economics and business personal statement
- Economics PhD personal statement
- Political economy personal statement
- Development economics personal statement
Best Economics Personal Statements for Top 10 Universities
Given that economics is a popular and most studied subject for ages, it’s offered in all the top universities in the world.
Here is a list of the top 10 universities that you can consider for your economics higher studies.
Remember to write a bespoke personal statement when you apply for each of these institutes.
- Stanford University.
- University of Melbourne
- University of Pennsylvania.
- Columbia University.
- Hong Kong University
- University of California
- University of Toronto
- ETH Zurich
- London School of Economics and Political Science.
- New York University.
Some Useful Guidelines for Writing Personal Statement for Economics Masters
As you prepare a personal statement for economics so as to apply for a post-graduate level university program, keep in mind the following guidelines so as not to end up writing a below-average MSc economics personal statement.
Yes, the personal statement is the most crucial document in your application for higher studies. If it goes wrong, your application can get rejected. But don’t stress over that. Start writing early so that you can have enough proofreading and corrections.
Show your passion:
It is easier for the admission panel to learn your degree of passion by reading your personal statement. Don’t fake your passion but show it in a genuine way throughout. Being true to yourself and enthusiastic will help a lot.
Refer to examples:
Referring to some of the previously written UCAS Economics personal statement examples is a great way to learn how to write and how to not write. It will give you insights as to how you must develop your thoughts.
Make it engaging:
An engaging personal statement in your application will quickly catch the attention of the admission panel. It will make them read it fully and thus have a holistic view of your intentions.
Establish future plans:
Admission officers are particularly interested in knowing about your future plans as an economist. They will appreciate it if you establish your future plans in a realistic way founded on your genuine convictions.
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