An exceptional economics personal statement is necessary for applying to elite institutions like Oxford and Cambridge. This essay will serve as an introduction, discuss the importance of crafting a compelling personal statement for Oxford and Cambridge Economics courses, and outline the criteria admissions officers use to evaluate these applications.
I. What is an Economics Personal Statement?
An economics personal statement is a part of the college application. In addition to excellent academic credentials, admissions tutors are looking for applicants who can demonstrate genuine enthusiasm for their examination and the capability to contribute to it.
In an economics personal statement, you describe your motives for studying a course, highlight your educational achievements, demonstrate your passion for economics, and prove your ability to think seriously and communicate effectively.
And it should be noted that UCAS released the FUTURE OF UNDERGRADUATE ADMISSIONS in January 2023, indicating that it will reform five aspects of the undergraduate admissions process. UCAS will be reframing the current format of the personal statement into a series of questions:
- Motivation for course – Why do you want to study these courses?
- Preparedness for course – How has your learning so far helped you to be ready to succeed on these courses?
- Preparation through other experiences – What else have you done to help you prepare, and why are these experiences useful
- Extenuating circumstances – Is there anything that the universities and colleges need to know about, to help them put your achievements and experiences so far into context?
- Preparedness for study – What have you done to prepare yourself for student life?
- Preferred learning styles – Which learning and assessment styles best suit you – how do your courses choices match that?
However, at present, a personal statement is still required for students applying in the 2024 application cycle.
II. Understanding What Oxbridge is Expected
Before applying, it is wise to understand what admissions committees at Oxford and Cambridge look for in economics personal statements. Your personal statement is an opportunity to demonstrate your passion for and aptitude in economics. Admissions officers seek applicants with solid evidence of critical thinking, creativity, and comprehension of foundational economic principles. As a result, you need to prove you can think critically, challenge conventional wisdom, and develop original approaches to solving complex economics problems.
Highlight your enthusiasm for economics. Your economics personal statement is an excellent opportunity to boast about more than just your GPA; it can also showcase your interests, extracurriculars, and relevant work experience.
III. Structuring Your Economics Personal Statement
Our guidance and procedures outlined below will help you craft an orderly economics personal statement demonstrating your passion for economics and distinguishing you from other applicants.
1. Capturing the Essence
Ｍake your opening compelling: Start with an anecdote, question, commentary, or stories such as personal experiences, historical events, or any story that fuels the subject’s burden. This will start by giving directions to your economics personal statement and compiling data on academic achievements, practical experience, extra-curricular engagement, intellectual curiosity, and critical thinking.
2. The Core of Your Story
- Academic Journey: Discuss your educational journey in economics, precisely any specific initiatives, coursework, or accomplishments that have prepared you for college.
- Be well-versed in both economic theory and practice: Oxbridge wants proof that applicants have a solid grasp of economic theory and practice. Demonstrate an in-depth understanding of economic theory and practice, including the field’s different schools of thought and the importance of economics in tackling societal issues.
- Problem-Solving Skills: Describe how you have used logical and innovative questioning techniques to resolve complex problems.
- Highlight what makes you unique: Show your interests or perspectives. In your economics personal statement, please expand on your motivations for applying to the economics course and your areas of interest.
- Intellectual Curiosity: Reflect on books, articles, podcasts, or lectures that have advanced your understanding of economics, particularly those that have challenged your view of the era and its role in society.
3. Envisioning the Future
- Future Goals: Explain how studying economics at Oxbridge will assist you in attaining your long-term career ambitions.
- Personal Growth: Describe how your engagement with economics has shaped your personal development, learning method, and aspirations to contribute to the field.
4. End of Your Essay
A great way to enhance what you said at the beginning is to tie the start of your declaration to the end. The end of your economics personal statement is your chance to make an admissions tutor remember you; you should emphasize the high-quality points you’ve already made and explain why you deserve a place.
IV. Writing Tips and Guidance
1. Be concise and avoid clichés:
Concisely and with precision, craft your economics personal statement. Ensure to stay within the word limit when providing a quick summary of your credentials and expertise. Avoid utilizing complicated language and clichés and focus on giving helpful information.
2. Provide examples that back up your claims:
Instead of just stating your achievements, it’s better to back up your claims with actual instances and stories. Because of this, your economics personal statement becomes more engaging, and the reader can see it more clearly.
3. Give it a thorough edit and proofread:
You should revise and scrutinize your economics personal statement once you have written it. For example, verify the text for spelling, grammar, and punctuation errors. Then, involve your tutor or friend in the evaluation process to get their viewpoint and make any necessary modifications to guarantee that your statement is error-free.
4. Understand the course structure:
Familiarize yourself with the course structure. Look at the modules and subjects that appeal to you most. Explore the official websites of Oxford and Cambridge for detailed information on economics course.
V. Sample Economics Personal Statement and Comments
1. Economics Personal Statement Sample
As someone who is always up to date with current affairs, the foundations that our civilisation is based on interests me, and the ways in which this is done through economic theory fills me with excitement. Millions of choices are made worldwide every second, all holding economic capability – for example I have made the choice to study economics at university. This choice has numerous microeconomic implications to many people, and is a decision made to satisfy my wants. Without me noticing it, I have made a decision based on basic economics. The regularity of economic decisions and the subconscious psychological nature of these fascinate me to a level that I want to pursue the subject and learn how the world can be made better as a result of choices that are made.
My critical thinking has developed since reading books on economics principles, while forging ever-changing opinions on how economies can be best run. My current read is ‘The Bottom Billion’ by Paul Collier, who feels strongly towards capitalist concepts and the freedom that this provides at all levels of a country’s development spectrum. While similar, my opinions are not set in stone, as I am willing to listen to other points of view and expand my knowledge. I feel that competitive spirit is inside every human being, and is key to a strong economy. Jean Tirole is one economic theorist that I have read extensively, exploring his theories on regulation and the banking industry, blaming the ‘bonus culture’ for ‘distorted decisions and significant efficiency losses, in the long run’. Delving deeper into his research uncovers how the competition for the strongest job candidates leads to lavish incentives to the employee which subsequently ‘shifts effort away from long-term investments’ and increases risk. I feel that reading many theories and opinions backed up with data can help to forge more well-rounded opinions, helping me to more deeply explore my passion.
Daily reading on Bloomberg News and The Economist are helpful in knowing global and local news, but seeing how these headlines translate into economic thoughts is what often consumes my brain. My A levels all lend themselves to forms of economics, with mathematics allowing me to think critically, business studies exploring how organisations fit into the global economy and the bureaucracy that they are under, and geography as I inspect geopolitical decision making and how population affects economics as a whole.
I am positioned as Head Boy at my school of over 1000 students, with the role given to me as a result of my peers and senior staff voting for me. With this role, public speaking has helped develop my communication skills and given me confidence to represent the school at large events. I have also lead a group bringing basketball facilities to my local area, a sport I am very passionate about, bringing an £8000 sport investment as a result of this hard work. I was also the managing director of my ‘Young Enterprise’ group of thirteen, leading us to high profits by the end of it. Work experience at PriceWaterhouseCooper and Thomson Reuters, Canary Wharf taught me about the various algorithms and theoretical ways that businesses operate effectively including auditing and risk management. Sport is a huge part of my life, playing football at premier division youth level, and for the club’s first team on occasion. I love training regularly, and being the captain of my youth team, supporting them as their goalkeeper and developing my teamwork and leadership skills.
My long-term plans are to improve my analytical skills and develop economic theories that can positively impact the world. I am also hugely interested in technology growing within economics and how this is implemented into all sorts of scenarios in different jobs. The drive and motivation I have behind these goals will push me to take every opportunity I have at university, aiming to achieve the goals I set for myself and continue to be a model student.
2. Comments
- Combining the concepts of economics with everyday life and the college application process creates an interesting start to the essay.
- A detailed list of books related to economics that the applicant has read explains how these books and ideas have shaped and influenced his views and understanding of economics, demonstrating his critical thinking.
- Lists the applicant’s learning experiences in math and geography related to economics, but lacks grades and achievements earned in these subjects.
- A detailed list of the applicant’s on-campus positions and other extracurricular and volunteer activities related to economics demonstrates the applicant’s passion for economics and excellent teamwork skills.
- Describe the applicant’s long-term plans and goals in economics and integrate them with future university life.
VI. Conclusion
An excellent economics personal statement should include your study experience and achievements and show your passion and obsession with economics. By following the above suggestions, you will be able to write an impressive economics personal statement that will help you stand out from other applicants.
