economics and management personal statement oxford

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Successful Personal Statement For Economics & Management At Oxford

Last Updated: 22nd April 2020

Author: Adi Sen

Table of Contents

Welcome to our popular Personal Statement series where we present a successful Personal Statement, and our Oxbridge Tutors provide their feedback on it. 

Today, we are looking through an Economics and Managment applicant’s Personal Statement that helped secure a place at Oxford University. The Economics and Management Course at Oxford examines issues central to the world we live in: namely how the economy and organisations function, and how resources are allocated and coordinated to achieve the organisation’s objectives.

Read on to see how this candidate managed to navigate the many disciplines of E&M. 

Here’s a breakdown of the Personal Statement:

SUCCESSFUL?

The universities this candidate applied to were the following:

The World’s First Oxbridge Preparatory School

Economics and Management Personal Statement

Economics is the study of now. I view it as the study of the psychology of the people who dictate our lives. The world around us is shaped by the fundamental concept of supply and demand, wants and needs, goods and services. What grips me is that everything I have studied I can apply to real life. Discussions about inflation, for example, are so applicable since its current status is active in the world of pricing; the price of a Big Mac and “Burgernomics” is something to which I can relate from my travels.

The statistical aspect of economic analysis is closely linked to my interest in Mathematics, thus I will take an Econometric route on option modules. This scientific approach to what is otherwise a field-based solely on individual theories and concepts interests me, as I find quantitative analysis much more accurate and reliable than qualitative theories. As an example, I relish analysing more Econometric models on the A-level Course: like Profit Maximisation calculations.

Despite this, Economics intertwines both Maths and Philosophy on a regular basis. I recently read an article from the Guardian by George Monbiot, which discussed the cost-benefit analysis model and whether nature could be quantified as a tangible asset, and how this would benefit neo-liberals in their perpetual quest for profit. This is just an example of how Econometric analysis does not always deliver such verisimilitude where the figures given are ambiguous. This is what is unique about Economics: there is no right answer to the question ‘Is there a right answer?’ The concept of there being methods of analysing the psychology of and nature behind the way that the interface between consumers and producers operates seems to exceed all other subjects in terms of interest.

I find it peculiar that a subject that has such a ubiquitous undercurrent in our society is so undefined and obscure; it is undoubtedly this which draws me to it. Consequently, I strive to keep up with Economics in the modern world by reading the “I” and “Guardian” newspapers, and “The Economist” magazine regularly. For wider background reading I have read Marx’s “Communist Manifesto”, Tim Hartford’s “The Undercover Economist” and “Too Big To Fail” by Andrew Ross Sorkin.

Sorkin’s book provided a gripping, in-depth insight into the world of investment banking and entrepreneurship – I finished the book in a matter of days. His book has inspired me to enter the investment sector. Upon graduation I would like to become an investment banker or negotiator, hence I am in the process of trying to arrange some work experience with the London Metal Exchange.

I completed a programme of work experience with Linden Homes this summer, through the Career Academy Programme on which I am enrolled. It was a six-week internship during which I gained a firm understanding of a construction company’s place within the national economy. I enjoyed spending valuable time in a variety of departments within the firm. I also have work experience planned in Belgium in 2013.

Additionally, I participate in a multitude of extracurricular activities. My team and I finished second in the national UMPH Business Competition; in Year 11 my team set the school record for the Enterprise Day Challenge and for three consecutive years my team won the Grimsby Inter-School Quiz without loss. Furthermore, I am part of both the Franklin College Debating Team and the weekly “Blue Sky Club”, where students meet to discuss current affairs.

Recently, a particular subject of interest has been the US election. We frequently discuss the debates and the candidates, covering subjects like their political viewpoints and how it will affect both our lives and those of the American public – plus the potential Economic ramifications of the possible outcomes. With a genuine zeal for the subject and an ability to relate my studies to the real world, I am convinced that I will thoroughly thrive at degree level Economics.

For more inspiration, take a look through our other successful Personal Statement a nalysis articles:

Good Points Of The Personal Statement

The student gives a good insight into their academic interests and what’s inspired them to develop over time. They also demonstrate a passion for the subject, not only by stating their interest in it but by further explaining what interests them and why they would make a good candidate to study it at university. The student is already accomplished and explains well what they’ve gained from their various extra-curricular activities.

Bad Points Of The Personal Statement

The writing is weak and, at points, unnatural. The forced interjections of examples and unusual adjectives make it read like a student attempting to write a formal and formulaic exam essay. They would do better to write in their usual style, even if it is somewhat informal; this will allow them to better express themselves and they will come across as more interesting to those reading it. More importantly than this, however, at times, the student fails to keep up their otherwise good level of detail, and the writing becomes list-like.

This is particularly prominent when they discuss books they’ve read to develop their understanding of economics. Although they expand on one of these, they do so in little detail. Interviewers are unlikely to be impressed by simply mentioning that you’ve read a book – any student applying for degree-level economics is able to read The Communist Manifesto, for instance – but they will be impressed by your response to it and what you gained from the experience of reading it. Unless you expand on these details, a list of books you’ve read does nothing to contribute to the statement.

UniAdmissions Overall Score:

This statement is strong, except where it discusses academic work. The detail here was likely sacrificed in favour of expanding further on their extra-curricular activities and their particular areas of interest. However, they have limited discussion of their study of various classic economic works so severely that it fails to add anything to the piece. The statement would, therefore, benefit from a more balanced approach to the various areas of the student’s life.

We give this Economics Personal Statement a 4/5 as they have clearly projected their passion for the subject onto paper – the most important part of a strong Personal Statement – albeit this was at the cost of other factors that should have been covered in more depth.

And there we have it – an Oxford E&M Personal Statement with feedback from our expert tutors. 

Remember, at Oxford, the Admissions Tutors are often the people who will be teaching you for the next few years, so you need to appeal directly to them.

Our Free Personal Statement Resources page is filled with even more successful personal statements and expert guides.

Our expert tutors are on hand to help you craft the perfect Personal Statement for your Oxford E&M application.

With our  Oxbridge Economics Premium Programme we help you craft the perfect Personal   Statement , achieve a highly competitive TSA score and teach you how to  Interview effectively.

Discover our  Oxbridge Economics Premium Programme  by  clicking the button below to  enrol and triple your chances of success.

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Economics and Management

• Admissions Requirements
• Fees and Funding
• Studying at Oxford

Course overview

UCAS code: LN12 Entrance requirements: A*AA (with Maths at A or A*) Course duration: 3 years (BA)

Subject requirements

Required subjects: Maths Recommended subjects: Not applicable Helpful subjects: Not applicable

Other course requirements

Admissions tests: TSA : Section 1 Written Work: None

Admissions statistics*

Interviewed: 17% Successful: 5% Intake: 85 *3-year average 2021-23

Tel: +44 (0) 1865 271098 Email:  [email protected]

Unistats information for this course can be found at the bottom of the page

Please note that there may be no data available if the number of course participants is very small.

About the course

The Economics and Management degree examines issues central to the world we live in. It namely examines how the economy and organisations function, and how resources are allocated and coordinated to achieve the organisation’s objectives.

Economics and Management are ideal intellectual partners, each particularly fitted to strengthen and cross-fertilise the other.

Economics is the study of how consumers, firms and governments make decisions that together determine how resources are allocated. 

An appreciation of economics and the general workings of the economy have become increasingly necessary to understand:

• government policy-making
• the conduct of businesses
• and the enormous changes in economic systems which are occurring throughout the world.

It is also becoming increasingly important in both government and the private sector to have an understanding of some of the methods used within economics. This includes quantitative methods, statistical and causal inference, and experimental methods.

Management is concerned with the effective use and coordination of materials and labour within an organisation in the pursuit of its defined objectives.

Management considers the interrelationship and interactions between distinct parts of an organisation, and between the organisation and its environment. Students will look at theories, models and frameworks in order to understand how managers behave and to consider their role in the process of decision-making.

The teaching of this course is provided by both the Department of Economics and Saïd Business School . However, it is not a Business Studies degree. The programme is taught as an academic subject within the Social Sciences Division of the University.

Unistats information

Discover Uni  course data provides applicants with Unistats statistics about undergraduate life at Oxford for a particular undergraduate course.

Please select 'see course data' to view the full Unistats data for Economics and Management. 

Please note that there may be no data available if the number of course participants is very small. 

Visit the Studying at Oxford section of this page for a more general insight into what studying here is likely to be like.

A typical week

• Six lectures
• Two tutorials or classes
• Preparation for tutorials and classes: reading, writing essays, solving problem sets (up to two and a half days for each tutorial or class).

Tutorials are usually 2-4 students and a tutor. Class sizes may vary depending on the options you choose. There would usually be no more than around 20 students, although classes for some of the more popular papers may be up to 40 students. 

Most tutorials, classes, and lectures are delivered by staff who are tutors in their subject. Many are world-leading experts with years of experience in teaching and research. Some teaching may also be delivered by postgraduate students who are usually studying at doctoral level.

To find out more about how our teaching year is structured, visit our  Academic Year  page.

Course structure

Years 2 and 3.

The content and format of this course may change in some circumstances. Read further information about potential course changes .

Academic requirements 

Wherever possible, your grades are considered in the context in which they have been achieved.

Read further information on  how we use contextual data .

If a practical component forms part of any of your science A‐levels used to meet your offer, we expect you to pass it.

If English is not your first language you may also need to meet our English language requirements .

All candidates must follow the application procedure as shown on our  Applying to Oxford  pages.

The following information gives specific details for students applying for this course.

Admissions test

All candidates must take the paper-based  Thinking Skills Assessment: Section 1 (TSA S1)  as part of their application.

Visit the TSA page  for guidance on how to prepare.

New arrangements for 2024 admissions tests and beyond are still to be confirmed but will be communicated as soon as possible and no later than the start of the new admissions cycle in early Spring. 

Written work

You do not need to submit any written work as part of an application for this course.

What are tutors looking for?

We are looking for candidates with:

• an interest in and a motivation for studying the organisation of businesses and the economy
• a capacity to construct and critically assess arguments
• a willingness and an ability to express their ideas clearly and effectively both on paper and orally.

Successful candidates will also show independence and flexibility of thought and an ability to analyse and solve problems logically and critically. The interview is not primarily a test of existing knowledge and, in particular, is not a test of any economics or management studied previously.

Visit the  Economics website  for more detail on the selection criteria for this course.

Oxford graduates in Economics and Management are among the most sought after by employers. Their current employers include leading international organisations in traditional activities, as well as new start-up companies in a variety of high-tech fields. Recent graduates have secured positions in banking and finance, consultancy, research, journalism, industry, the Civil Service and teaching as well as a wide range of other sectors.

Imogen now leads Partnerships and VC relations for the Start-up Program at Start-up Grind. She says:

‘E&M is an excellent degree as it draws on a wide range of skills: you analyse economic theories as well as digest, summarise and communicate key points from the literature. You have the opportunity and flexibility to tailor the degree to suit your interests - whether that’s analysing complex mathematical models or focusing more on essays. In my career so far I’ve found the Management material to be particularly useful, especially when I worked in a small start-up and was involved in various parts of the business. In particular, strategy, marketing and organisational behaviour have been invaluable!’

Dean is an analyst for Greenhill & Co, a leading independent mergers and acquisitions advisory firm. He says:

‘Oxford provided an unparalleled opportunity to enhance my self-confidence, develop thorough analytical skills and hone my ability to communicate in a clear and articulate manner – prerequisites for a career in investment banking.’

Note: These annual fees are for full-time students who begin this undergraduate course here in 2024. Course fee information for courses starting in 2025 will be updated in September.

We don't want anyone who has the academic ability to get a place to study here to be held back by their financial circumstances. To meet that aim, Oxford offers one of the most generous financial support packages available for UK students and this may be supplemented by support from your college.

Further details about fee status eligibility can be found on the fee status webpage.

For more information please refer to our  course fees page . Fees will usually increase annually. For details, please see our  guidance on likely increases to fees and charges.

Living costs

Living costs at Oxford might be less than you’d expect, as our  world-class resources and college provision can help keep costs down.

Living costs for the academic year starting in 2024 are estimated to be between £1,345 and £1,955 for each month you are in Oxford. Our academic year is made up of three eight-week terms, so you would not usually need to be in Oxford for much more than six months of the year but may wish to budget over a nine-month period to ensure you also have sufficient funds during the holidays to meet essential costs. For further details please visit our  living costs webpage .

• Financial support

**If you have studied at undergraduate level before and completed your course, you will be classed as an Equivalent or Lower Qualification student (ELQ) and won’t be eligible to receive government or Oxford funding

Fees, Funding and Scholarship search

Additional Fees and Charges Information for Economics and Management

There are no compulsory costs for this course beyond the fees shown above and your living costs.

Contextual information

Unistats course data from Discover Uni provides applicants with statistics about a particular undergraduate course at Oxford. For a more holistic insight into what studying your chosen course here is likely to be like, we would encourage you to view the information below as well as to explore our website more widely.

The Oxford tutorial

College tutorials are central to teaching at Oxford. Typically, they take place in your college and are led by your academic tutor(s) who teach as well as do their own research. Students will also receive teaching in a variety of other ways, depending on the course. This will include lectures and classes, and may include laboratory work and fieldwork. However, tutorials offer a level of personalised attention from academic experts unavailable at most universities.

During tutorials (normally lasting an hour), college subject tutors will give you and one or two tutorial partners feedback on prepared work and cover a topic in depth. The other student(s) in your tutorials will be doing the same course as you. Such regular and rigorous academic discussion develops and facilitates learning in a way that isn’t possible through lectures alone. Tutorials also allow for close progress monitoring so tutors can quickly provide additional support if necessary.

Read more about tutorials and an Oxford education

College life

Our colleges are at the heart of Oxford’s reputation as one of the best universities in the world.

• At Oxford, everyone is a member of a college as well as their subject department(s) and the University. Students therefore have both the benefits of belonging to a large, renowned institution and to a small and friendly academic community. Each college or hall is made up of academic and support staff, and students. Colleges provide a safe, supportive environment leaving you free to focus on your studies, enjoy time with friends and make the most of the huge variety of opportunities.
• Porters’ lodge (a staffed entrance and reception)
• Dining hall
• Lending library (often open 24/7 in term time)
• Student accommodation
• Tutors’ teaching rooms
• Chapel and/or music rooms
• Green spaces
• Common room (known as the JCR).
• All first-year students are offered college accommodation either on the main site of their college or in a nearby college annexe. This means that your neighbours will also be ‘freshers’ and new to life at Oxford. This accommodation is guaranteed, so you don’t need to worry about finding somewhere to live after accepting a place here, all of this is organised for you before you arrive.
• All colleges offer at least one further year of accommodation and some offer it for the entire duration of your degree. You may choose to take up the option to live in your college for the whole of your time at Oxford, or you might decide to arrange your own accommodation after your first year – perhaps because you want to live with friends from other colleges.
• While college academic tutors primarily support your academic development, you can also ask their advice on other things. Lots of other college staff including welfare officers help students settle in and are available to offer guidance on practical or health matters. Current students also actively support students in earlier years, sometimes as part of a college ‘family’ or as peer supporters trained by the University’s Counselling Service.

Read more about Oxford colleges and how you choose

FIND OUT MORE

• Visit the Department of Economics' website
• Visit Saïd Business School's website

Our 2024 undergraduate open days will be held on 26 and 27 June and 20 September.

Register to find out more about our upcoming open days.

RELATED PAGES

• Which Oxford colleges offer my course?
• Your academic year

Related courses

• History and Economics
• Philosophy, Politics and Economics (PPE)

Feel inspired?

Why not have a look at the suggested reading lists for prospective students? 

• Economics suggested reading 
• Management suggested reading

The best introduction to Economics is to read the economics and business pages of newspapers. Tim Harford’s  Undercover Economist  and Paul Krugman’s  The Accidental Theorist  are also recommended.

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Top Tips for an Oxford E&M Personal Statement

Oxford economics & management personal statement – top 10 tips: do’s and don’ts.

The Oxford Personal Statement is a crucial component of your university application as it presents a unique opportunity for you to differentiate yourself from other applicants. You would be able to articulate your story and explain your interests beyond that of numbers on an admissions test. Furthermore, it gives the interviewer a chance to understand who you are, providing a platform to bounce off questions during your interview. 

They can tailor questions to your personality, interests, and commitment to who you are as a person and your amalgamation of experiences before you. To guide you through the arduous university application process, our Oxbridge application experts have compiled a list of top 10 Oxford Economics & Management Personal Statement tips– do’s and don’ts– for your Oxford Economics & Management Personal Statement for the 2022/23 application cycle.

General Advice for Oxford Economics & Management Personal Statement

The Economics and Management degree at Oxford is grossly concerned with how organisations and the economy operates, and how the world’s scarce resources are allocated to achieve organisational objectives. The economics branch examines how this allocation is influenced and determined by governments, consumers, and firms, and how they influence each other and are intrinsically linked to one another. Management, on the other hand, examines how to coordinate and use labour and resources effectively within a firm, such that its desired objectives are met. 

The knowledge from both economics and management are complementary, with the understanding of each intended to support and strengthen the other. Hence, when writing your Oxford Economics & Management personal statement, incorporate your interest and understanding of both fields. Furthermore, when planning out your Oxford personal statement, make sure you research Oxford’s achievements in their relevant fields and use it as a guide to illustrate your interest in Economics and Management.

Top 5 Tips for Oxford Economics & Management Personal Statement

• Explain why you are a good fit for economics & management- Economics and management students would have vastly different personalities and interest profiles from that of students from other courses. For example, economics and management students should be particularly able to have flexibility and ability in constructing and assessing arguments.  You should be able to demonstrate that you display these desirable qualities in your Oxford Economics & Management personal statement. You can do so by referencing experiences that you have gone through that have caused you to be equipped with such traits. For example, you can show that you are flexible in constructing arguments through past debate competitions, or essay competitions that you have participated in or won. Even though an experience might not be directly related to economics and management, the skills and qualities that you could have picked up from going through that experience are transferable and could be useful to you as an economics and management student.
• Having a strong understanding of what the economics and management course entails – Usually students’ understanding of a particular course of study is shaped by what they have witnessed in films or from their high school experience in related subjects. Even though some students may have taken economics in high school, which would definitely lay a good foundation for the course, definitely do not expect your university experience to be one and the same! Some students may consider the course to be too math-heavy as per their expectations, or they did not be expecting to write as many essays. Do ensure that you thoroughly research the course syllabus and have a realistic understanding of what the course entails. Demonstrating a pragmatic and sensible understanding of the course in your Oxford Economics & Management personal statement would also be favourable in your application, as you can illustrate that you are a good fit for the course. Furthermore, it can display to Oxford tutors that you have a thought-through and reasonable motivation for wanting to study Economics and Management. For example, you can explain that you enjoy being able to study both essay-based and mathematics elements, both of which are included in the course.
• Being well-read in economics and management – It is always recommended that you display that you are well-read in your Oxford personal statement. This is because it is a great way to display that you are interested and passionate about the subject, as well as showing that you are a wide reader and are comfortable with perusing large volumes of text– a handy skill in any humanities or academically vigorous course.  Some books that are relevant to the economics and management course include End this Depression Now by Paul Krugman, as well as The Bottom Billion by Paul Collier. Do keep this mind that reading is not only restricted to books! This could also include news articles, magazine columns, or even podcasts, documentaries, or Youtube videos! Finding a medium or format that is more accessible or tailored to your style of learning would be a great way for you to incorporate more content into your everyday lifestyle. For example, you could listen to a podcast when you are travelling to school instead of listening to your usual playlist.
• Allowing yourself sufficient time to write your Oxford Economics & Management personal statement- Many people mistakenly think that they can leave their Oxford Economics & Management personal statement to the last minute as it is only a 4000-character count essay. However, remember that you need time to redraft your Oxford Economics & Management personal statement multiple times, and buffer enough time for seniors, friends, or career guidance counsellors to take time out of their schedule to read your Oxford personal statement, provide feedback on your work, and for you to refine it based on their comments!
• Having a good structure – Structure matters a lot when writing your Oxford Economics & Management personal statement because it not only enhances readability, it allows you to communicate exactly what you intended to your admissions tutor without anything being lost in translation! A good structure could look something like this: Have a short introduction paragraph briefly introducing why you want to study economics and management. Next, your body paragraphs could highlight desirable qualities and traits that an economics and management student should have or aspects of the course that aligns well with your interest or type of personality. You could lastly conclude by summarising key points that you would like your Oxford tutors to take away. 

Top 5 things to AVOID for your Oxford Economics and Management Personal Statement

• Mentioning and listing every experience and achievement that you have done – Even though you would have done a variety of activities and experiences in high school, not all of them would be relevant in your application to be an economics and management student. Many students misunderstand the application process, thinking that Oxford is looking for the most decorated, well-rounded student. However, they are instead looking out for the student who is a good fit for the economics and management programme instead. You could be the perfect student, but that does not mean you are the perfect economics and management student. If there is a specific experience that you definitely want to include in your Oxford Economics & Management personal statement but it is not relevant to the course, you can include it by talking about relevant qualities or skills that you have picked up from the experience. For example, volunteering and mission trips might not seem directly relevant to economics and management, but you could explain it by stating that they initiated your desire to study economics as you hope to seek a deeper understanding of economic policies that can help reduce inequality or poverty.
• Focusing your Oxford Economics & Management personal statement on economics or management and not both-   Do not forget that the course that you are applying for includes both economics and management, and the course syllabus is roughly split equally between the two! If you only focus on economics or management and leave out the other, this could signal to your admissions tutor that you are not clear on the course you are applying to. However, understandably, you would be applying to five different schools and courses in your university admissions. If you are applying to four other economics courses and Oxford’s economics and management programme is the only choice you are applying to, you can still mention both by leaving a section of your Oxford Economics & Management personal statement on management to acknowledge and show it.  
• Turning your Oxford personal statement into an economics essay instead of explaining your interest in the course – Many applicants choose to mention an economic theory that got them first interested in economics, to use it as an opening to their Oxford Economics & Management personal statement or when they are explaining about a book or an article that they have read. However, do keep in mind that the focus of the Oxford Economics & Management personal statement should always be why you want to study economics and management and why the course would be a good fit for you. Do remember that Oxford tutors would already be extremely knowledgeable in their field. This means that regardless of how obscure or unconventional the theory that you are explaining is, you would not impress your Oxford tutors with it. They want to learn about you, and if they wanted to learn about a theory, they would read a textbook!
• Not reflecting whenever you bring up a personal experience – Whenever you mention an experience that you went through, always elaborate on it by linking it back to economics and management. For example, you could mention how the experience has caused you to pick up desirable traits that an admissions tutor would want in an economics and management student. You could also elaborate on how participating in such activities was due to your interest in economics and management, or how it grew your passion for it. 
• Exaggerating or lying about experiences in your Oxford Economics & Management personal statement – If you are invited for an interview, the Oxford admissions tutors would be basing some of their interview questions on your Oxford Economics & Management personal statement. This means that they are likely to ask you to elaborate on some experiences or theories that you mentioned in your Oxford Economics & Management personal statement. If you exaggerated or lied about any experience that you have mentioned, it is likely that the Oxford tutor would catch you in the lie or realise that you were exaggerating. It is better for you to come off as authentic than deceitful, so be truthful when explaining your story!

The Oxford Economics and Management (E&M) program is an undergraduate degree program offered by the University of Oxford’s Saïd Business School. The program combines economics and management to provide students with a comprehensive understanding of business, finance, and economics.

Some tips for writing a strong Oxford E&M personal statement include researching the program and demonstrating an understanding of the subject, highlighting relevant academic achievements and extracurricular activities, showcasing leadership and teamwork skills, and demonstrating a genuine passion for economics and management.

An Oxford E&M personal statement should include information about the candidate’s academic achievements, extracurricular activities, work experience, and personal qualities that are relevant to the program. It should also include specific examples of how the candidate has demonstrated leadership, teamwork, problem-solving, and critical thinking skills.

The Oxford E&M personal statement should be no more than 4,000 characters or 47 lines, whichever comes first. Candidates should use this space wisely to showcase their strengths and demonstrate their suitability for the program.

Yes, it is important to tailor the personal statement to the Oxford E&M program specifically. This includes researching the program and understanding its unique features and requirements, as well as demonstrating a genuine interest in the subject and a strong motivation to study at the University of Oxford.

The personal statement is a crucial part of the Oxford E&M application process as it allows candidates to showcase their passion for the subject and their potential to succeed in the program. The personal statement also provides the admissions team with insight into a candidate’s motivation, academic background, and personal qualities.

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Sample Economics Personal Statement (admitted to Oxford, Cambridge, LSE)

by Talha Omer, MBA, M.Eng., Harvard & Cornell Grad

In personal statement samples by field.

The following personal statement is written by an applicant who got accepted to top graduate programs in economics. Variations of this personal statement got accepted at Oxford, Cambridge, and LSE. Read this essay to get inspiration and understand what a top economics school PS should look like.

You might also be interested in reading this Statement of Purpose in Economics  that got admitted to Harvard, Yale and Princeton.

Sample Personal Statement Economics

“Flick…chuggachuggachuggaa…puttt-putttt-puutttttt…rizzzz…”

The sounds coming from near the doorway may have startled an outsider but were barely noticed by the people lounging on charpoys and mooras (wicker stools). With the atmosphere abuzz with their chatter, the sputtering sound of the diesel generator lent more time to catch up as the bulbs lit up and fans whirred on throughout the haveli (palace) on an otherwise hot evening. But on days when it refused to crackle, my grandmother would enkindle gas lanterns filling the veranda with hissing sounds and soothing moonlight rays.

I still cherish these memories from my childhood trips to XYZ, my native village, some 450kms from the closest city. At the time, the short sojourns from Kuwait felt rather adventurous. However, the perspective turned wrong when I permanently moved to XYZ. Due to unannounced electricity breakdowns, we would find ourselves groping in the dark to the closest candle stand while sweating in the scorching summer.

And just when we thought it couldn’t get worse, the occasional power breakdowns segued into a full-blown crisis of the decade. Over the next seven years, we witnessed unprecedented power outages averaging 15-18 hours daily. People weren’t just lamenting the loss of mental peace; they were mourning the monetary losses worth billions of rupees translating into 1.5% of GDP.

Fast forward 15 years, and I found myself in a position to alleviate the situation. As Deputy Administrative Head of the Government’s Economic Affairs division, I administer a departmental budget worth $500 million. I am currently undertaking solarization projects. A recent shift towards renewables has occurred after public unrest during the early decade led to hasty investments in thermal-based power plants. Unfortunately, seven years later, we are still reeling from the aftermath of a bitter public backlash as we have the lowest regional electricity consumption per capita.

In addition to high tariffs, the energy sector has been marred by the accumulation of circular debt of $30 billion. This has been caused by multiple factors, such as electricity theft, transmission losses, and non-payment of dues. Having worked in Economic Affairs Division, I have also been part of a team that took massive power sector reforms, including:

• elimination of subsidies
• policy formulation on electricity theft and conservation 
• overhaul of sectoral regulatory bodies
• privatization of distribution companies et al.

However, as the Program ended, so did the reforms.

Regrettably, negative externalities from these energy woes have had spillover effects on all socio-economic sectors. The environment has especially poorly been affected by the process for the lack of an integrated generation and transmission policy framework in the renewable industry. Being a lower riparian state has also exacerbated climate change. We face extreme weather conditions – floods, droughts, smog, and diminishing water tables. Unable to agree on water issues not covered under the Indus Water Treaty has led to regular skirmishes and legal battles in the International Court of Justice.

Given the background, my country’s economic and Energy woes require a holistic understanding of the subject. This makes Economic policy specializing in Energy the right choice for my graduate studies. Furthermore, I can become an effective leader and economist in the sector through the interdisciplinary pedagogical approach covering policy, economics, management, law; practical skills; quantitative and qualitative analysis within an international context.

My aim is socio-economic development in tandem with confidence-building measures and strategic partnerships with the neighboring countries. Studying at Oxford will provide this learning opportunity in and out of the class as I will interact with some of the most brilliant minds worldwide and work in teams with them. I also look forward to student-led events, conferences, guest lectures, field trips, and panel discussions to augment my understanding of supranational political demands. This will help me lead economic policy reforms for the next 25 years.

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Personal statement example economics (and management) personal statement.

Submitted by Chris

Are you a strategist, analyst and problem solver?

Stay ahead of the trends with Economics at the University of Kent

Economics (and Management) Personal Statement

Discussing the housing crisis with my grandmother was a pivotal moment in my study of economics. Learning that to purchase her first house would require an income today of £200k provided the first opportunity for me to apply my understanding of supply and demand, and in turn consider how government policy can be adapted to better allocate scarce resources. This is what draws me to the subject — the beneficial real life applications of highly developed theory which can be applied to improve economic welfare.

My interest in the distribution of wealth was first introduced whilst studying the objectives of government policy in macroeconomics. To pursue this, I completed an Open University MOOC entitled ‘Challenging Income and Wealth Inequalities in the UK’. The course investigated the main causes of inequality in the economy, such as inequality of opportunity, and continued to explore potential government interventions to improve the situation. My interest was peaked during the general election earlier this year when Labour proposed a maximum wage. As a result, I entered the RES Young Economist of the Year essay competition, where I evaluated the feasibility of such a policy being implemented to reduce inequality. Ultimately I concluded that, whilst a maximum wage is likely to somewhat reduce inequalities, there are more effective ways to do this such as equalising opportunity and progressive tax systems, and the negative consequences on the rest of the economy make the policy unfeasible to impose.

For the last year, I have worked as a Customer Assistant at M&S. The role has exposed me to microeconomic concepts in action, including aspects of behavioural economics. It has been fascinating to witness the store manager’s choice architecture in action, and the ‘nudges’ (such as placing healthier products at eye level) which exist to help our customers make smarter choices. At a theoretical level, I pursued my interest in this area of economics by reading ‘Nudge’ by Thaler and Sunstein. Initially, I was rather critical of many of the ideas discussed as I did not think they would hold in real life. However, after successfully testing the theory of anchoring with my classmates and attending a talk by a behavioural economist studying the decision-making process of the consumer, my scepticism turned into fascination at how easily we as ‘rational’ human beings can indeed be influenced. I now understand the scope for nudges to be used to maximise profits in a commercial environment.

The management element of Business Studies was part of my inspiration to jointly set up a small business, reselling clothes. I developed digital marketing initiatives and used my knowledge of the functions of price to create a pricing strategy which maximised sales revenue. The business has provided both managerial experience and an insight into how the technology is digitising the economy. To pursue this interest, I read ‘The E Myth Revisited’ by Gerber, who explains that the main reason why 80% of small businesses fail is due to managers working in their business, as opposed to on them. On the whole, I agreed with his ideas, but failed to see how his three system approach could be implemented in all businesses, especially in cases where each employee has a specific skillset and their knowledge can’t simply be substituted.

Completing an Extended Project examining the legality of euthanasia cultivated my expertise in both research and organisation — key skills required at university. Volunteering at Barnardo’s and a local junior school improved my interpersonal skills through interacting with children, staff and customers alike. As an elected prefect I have honed my leadership skills and my resilience has further been improved through the completion of Bronze DofE.

Having only just begun my study of economics, I am very much now looking forward to establishing a much deeper and broader knowledge of the subject at degree level.

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Economics and Management

I have always been interested in what makes society tick; the successful combination of Economics and Management merges two trains of thought into one and complement each other to explain societal interactions, and that drew me to apply. The two things I enjoy most about the course are the diversity of the people and of the subject. E&M appeals to anyone regardless of background, and many students, including myself, represent countries from all around the world. Additionally, it is a unique subject in which we use both numerical and verbal explanations to show that even intuitive decisions can be reasoned. E&M students are the only undergraduates with access to Said Business School, which has been one of the perks of the course. During prelim revision, it was refreshing to leave college and nest in the Business School library while finally understanding some of the concepts that seemed impossible when we first learned about them. Sarah, Keble, student from 2014

The course has been great. The large amount of choice means you can let your interests guide the structure of the course – some opt for mathematically rigorous papers, some shift the emphasis of the course to management, some dip their toes etc. I’ve maintained a focus on the economics but have tilted the emphasis to economic history and development economics, looking closely at issues such as the end of the USSR’s Command Economy and the efficacy of international aid (I thought they had more promise in the ‘interesting pub conversations’ sphere than econometric methodology, but that’s just me). However, while the learning has been great, as a finalist, I’m currently going through the least enjoyable part of the course - the inevitable misery/anxiety of preparing for finals. In my second year, I got involved in a project with the Oxford Microfinance Initiative. I’d studied about microfinance as part of my course, and this project gave me the opportunity to fly to Egypt (fully funded), collect tons of first-hand data and analyse the expansion proposals of one of the country’s biggest microfinance organisations using what I’d learnt in the Quantitative Economics paper. Vinay, Wadham, student from 2011

E&M is unique because it is a joint subject, and the halves complement each other closely; the programme also contains a healthy balance of both maths and essays. In the first year, students take three compulsory courses: economics, general management, and financial management. In the second and third years, students must take three compulsory economics and two management courses, and three of their choosing. The extensive list of course options allows students to structure their learning through their own preferences of courses. Because the course appeals to people from all different backgrounds and cultures, students learn not only from books and lectures, but also their peers, and E&M students tend to become close with others in the course across the university.

What makes Oxford different?

The tutorial system provides an intimate learning environment in which the tutors are truly invested in their students, and being able to work and discuss with peers enhances the learning process. The tutors and lecturers are all experts in their fields and have an abundance of knowledge to pass on. Additionally, the Said Business School has great facilities for E&M undergraduates to use.

What helped inspire your love of the subject?

As an interesting book, I read the Bottom Billion by Paul Collier, which brings up lots of concepts about poverty and development, some of which may be studied at A level, such as the poverty trap. It also links well with Geography for anyone who also studys that. I found it useful to read articles in The Economist , as well as online, for example on the BBC News website or some newspapers, as they are real life and current examples. Something to do if the school organises it is Target 2.0 (or alternatively Young Enterprise) as this gives hands on experience of economics and business ideas. Target 2.0 is where in a group you analyse real economic data and act as the Monetary Policy Committee (MPC) to decide on whether to change the interest rate and do a presentation of this to judges in a competition. Chris, St Catz, student from 2015

My first exposure to economics was the book Freakonomics. It’s a light-hearted easy read that introduces many economic concepts into the daily interactions within society, and it’s also on the reading recommendations by the university. Taking Economics and Maths at A-level is extremely useful for the work in the course, and there are so many economics-related books to read by authors such as Milton Friedman, Steven Levitt, and more. Sarah, Keble, student from 2014

Tell us about your interview?

For my economics interview, I answered maths questions for one of the tutors. He asked them one at a time and gave me time to think and write down and discuss my answer. The questions started with A2 pure ones and went on to more testing ones where they wanted to see how I applied my current knowledge. The second part was a decision making exercise involving an output matrix and I was given various questions relating to different scenarios. Here they wanted to see my sequence of thoughts and how I got to a concluding answer. My management interview was completely different! I was asked a variety of questions by the tutors about the subject, such as 'what do you understand strategic management to be?'. Then there were questions about any articles I had read and one or two about the subjects I took to A level and my personal statement, such as 'I see you take physics as an A level. Can you treat physics and management as being similar subjects?' and 'I see from your personal statement you do a lot of extra-curricular activates outside school. Which one would be most beneficial for a group of mangers to engage in and why?' Chris, St Catz, student from 2015

Applicants that might be offered a place are invited for interview in December.

Find out more

Make sure you read the official prospectus entry for the course which contains entry requirements, full course structure, additional interesting resources and full details of the application process.

If you're going to apply, you'll want to check which Oxford colleges offer this course.

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Economics and management/economics personal statement example.

It seems that applying economics can elucidate any subject. Just one example of a problem facing the world is the tide of war-displaced refugees making their way to Europe. They risk their lives for the opportunities of our economic system. I recently visited a Calais refugee camp, hoping to learn about their motivations and intentions. Hearing their struggles and hopes reinforced that there is no easy solution to their problems. Yet if any academic discipline can improve this situation, it must be economics. I realised how much we take our own economic system and security for granted, and I am interested in finding out more how it functions, and how similar or better systems might be implemented elsewhere. Only by analysing and understanding our decisions and actions can we improve future outcomes.

Reading Thomas Friedman's The Lexus and The Olive tree has helped me to understand the world economy’s current state - how countries have developed at wildly different rates, yet are linked at on scale never before seen. Michael Lewis’ The Big Short made me aware of our system’s flaws: it was disconcerting how the expansionary monetary policy discussed at A-level could have led to the 2007 financial crisis.

I have found economics as useful in analysing the past as the present. Last year I linked my economics studies with my EPQ in History. I addressed whether the ‘wonder weapons’- a series of radical German weapons World War Two - helped or hindered the German war effort. I analysed economic data to quantify the wonder weapons’ effects, and thus the wisdom of the German leaders in choosing to deploy them. I placed particular emphasis on the weapons’ opportunity cost, and calculated that with the money invested in the programmes (2% of German GDP), a more effective war could have been waged with conventional weapons. This mismanagement prompted me to think about how economics might be applied more effectively to real situations. I had my first taste of an economics-related career as an intern analyst at Standard Chartered bank, where I compiled a report analysing the Indian Airline Industry. I assessed the prospects of each carrier, and presented to the team I was working with. I enjoyed using economic data to draw conclusions about the market. I developed my skills in research, analysis, presentation and collaboration. It was satisfying when I recently read that Indigo - the airline I had concluded would profit best from India’s rising middle class - was filing for India’s largest IPO in four years.

I am also interested in the factors affecting our personal decisions. I have read and thoroughly enjoyed books on behavioural economics, such as Daniel Kahneman’s Thinking Fast and Slow, and Richard Thaler’s Misbehaving. Kahneman’s revealing of the logic-gaps in the human thought process was striking. I found the frequency with which we fall foul of our innate biases and assumptions revealing and concerning. A summer job as a sales assistant demonstrated the relevance of these principals. I noticed a management focus on short term goals, and lack of relevant event-framing: for example, managers distilled yearly sales down to what everyone would have to sell per hour- a behaviour Kahneman described as being counterproductive in the long run. Employees were also expected to at least match last year’s sales each month, taking no account of the external variables impacting business.

I hope to use my university study to better understand and explain the behaviour of the markets and those involved in them. I endeavour to examine, question, and learn about the principles that explain and influence our actions. The interest and skills I have developed have equipped me to delve further into the subject, and make the most utility of my education.

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There is no profile associated with this personal statement, as the writer has requested to remain anonymous.

Author's Comments

My personal statement for Economics and Management (E&M) at Oxford, and straight Economics elsewhere.

Oxford: A*AA Durham:" Bristol:" LSE: waiting

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• Economics Personal Statement For Oxford

Economics Personal Statement Example For Oxford

Sample statement.

It doesn’t matter which university you are applying to your personal statement has to be good. However, for universities where the competition is especially high – for example Oxford, LSE, or Cambridge, your personal could be the difference between you getting in and you being rejected.

To help you get into your university of choice, in this case Oxford, here is an example of a personal statement to study Economics:

Having always had a keen interest in Mathematics at secondary school moving on to A Levels gave me the chance to develop my knowledge further and pick up the study of Economics alongside Mathematics and Statistics.

I have always been interested in how economics and business plays a key part in our society and the way we run the country. During my time at school I helped to develop my business and economics skills by being part of the school Young Enterprise scheme.

Not only did I get the chance to put economic theories into practice but I also developed my communication and teamwork skills. I was also involved in the School Council and held the position of Senior Prefect.

When I’m not studying I am a keen horse rider and regularly compete at county level. This has helped me develop my organisational skills and encourages a healthy and active lifestyle.

I enjoy travelling and keep a travel “blog” recording all the places I visit in the UK and abroad.

To help keep up to date will all the latest business and economics news I subscribe to the majority of the national newspapers including “The Times” and “The Economist”.

I used my writing experience and my interest in economics to complete a work experience placement with my local newspaper assisting with the writing and editing of their local business news column.

I hope that my time studying Economics will give me the skills and experience I need to have a successful career in the financial sector. I look forward to the new challenges life at university will bring and I aim to succeed in everything I do.

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