One night I found myself thinking: what would life be like without economics? Evolution would only have been possible with a scarcity of some kind. Charles Darwin's theory of evolution suggests that giraffes with comparably longer necks had a survival advantage of being better able to reach food in taller trees. These species thrived and reproduced more leading to generations of giraffes with longer necks. This process would not have been possible without the scarcity of food. The realization that economics is built into life since primitive times is what had first drawn me toward the subject.
I enjoy studying economics as it has me thinking constantly and connecting the dots between concepts to reach a broader view. I particularly enjoy pondering on difficult topics to see if I can form a connection. One instance is when I came across a TED-Ed video on YouTube explaining the 'Tragedy of the Commons'. That week, I learned about the 'Prisoner's Dilemma' at school and was studying it in detail to deepen my understanding of the collusive behavior of firms. I realized that these two concepts were similar, except the dominant strategy is replaced by overusing natural resources. I concluded that these two concepts bring us a core lesson that individual rationality does not lead to collective rationality and that what is good for all of us is good for each of us.
Economics keeps me genuinely interested and triggers my curiosity, urging me to continuously research and probe into concepts that fascinate me. During the summer vacation, I took on an independent research task of analyzing the causes of the financial crisis of 2008 after I came across a newspaper article that got me interested in the topic. Through the research, I was introduced to a variety of new concepts like securitization, economic bubbles, and shadow banking. The study also strengthened my understanding of concepts I had previously studied, including moral hazard, financial markets, and quantitative easing. After school had started, I engaged in discussions with my economics teacher about my research and was able to successfully put together a literature review summarizing my research.
My subject choices for IGCSE included accounting, economics, business, mathematics, and statistics. This ensured I have a strong foundation of crucial skills required to further my studies in economics. I am currently studying Accounting, Economics, and Mathematics in A-Levels. These three subjects are at the core of economics and help build my strategic thinking skills.
Being an economist requires rigorous analytical and logical thinking skills. Participating in the inter-house mental maths competition in which my team ranked 3rd helped build my team working skills. I also ranked 1st in the PwC's Academy Accounting and Finance challenge 2022 where I acquired essential critical thinking skills. Taking part in the school economics debate about the Russo-Ukrainian war strengthened my problem solving and research acumen.
I have been learning karate for 4 years and regularly participating in regional tournaments. I earned a gold medal in the Black Belt Karate Club Tournament 2020 and a bronze medal in the UAE Karate Federation Super Cup 2022. Practicing a form of martial arts increased my confidence and improved my coordination skills. Additionally, volunteering for environmental programs and charitable activities like the Walk for Education, Beat Diabetes Walk, and EEG Cleanup Campaign provided me with a sense of community and taught me valuable skills.
In the long term, I want to explore the depths of economics and find a field that piques my interest, be it development economics, financial economics, or behavioral economics. I also seek to make a notable contribution to the field of economics, whether it is small or large. A degree in economics would be the first step I take toward this goal.
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what would life be like without economics?
This is nota thought that just pops into one's head. You should go back further into establishing this. What brought about this thinking ? What is the inspiration behind it? Establish that before the rest of the discussion.
Charles Darwin's theory of evolution
This does not really connect well from an Economics standpoint. You seem to be trying to connect unrelated discussions here. Maybe you just have not explained it well enough?
taught me valuable skills.
How do these activities connect back to your interest in Economics ? Why do these activities mean you are prepped for the academic rigors of Economics study?
I did notice that the essay has good ideas here and there but often faltered in terms of connectivity. There are even some references that seem to not be connected to the discussion. Maybe those can be more properly presented to bring a clearer personal connection among all the references?