Major Economics Personal Statement

Using the data and your own economic knowledge, assess the case for financing universities mainly through charging fees to their students.

How much of the income in the United States is in the form of wages and fringe benefits?

In the Private Sector, there are many choices to be made by Business managers regarding which “projects” to borrow for and which “projects” to invest in.  These choices often contain a great deal of ______________________ as well as the potential for benefits (profits).

Basic economic models assume that all parties have “perfect information.” How does “informational asymmetry” undermine our market economy?

On the first day of school this year I was asked what my goal for the year was. Instead of responding saying my goal was to earn good grades, or improve my GPA, I said that my goal was to learn. Not to memorize, take a test, and forget, but to really learn and understand the material. A high school course that I consider to be the most meaningful to me is my AP Macro/Micro Economics class. The internal values I reflected upon above are my main motivators for the class. Before signing up for the class I heard negatives reviews from past students, saying that the class was quite challenging and there was a great deal of work. However, this did not deter me, as I was, and continue to be, interested in learning the subject. So far this class has

7. Which of the following must be true if a firm is experiencing economies of scale?

Once in my childhood, my father said to me that I have to give full of respect to whatever people I am facing in, although to the people whom I disagree with. He said, “At least you show your respect to him/her as human being”. Later I know that Voltaire happened to say, ”I disagree with your opinion, however, I will defend your rights to speak ”. His advice has been inspiring me until today, when I have been trained to use participant’s view in my PhD research. The importance of listening to the voice of the people has been illuminated me as an Economist who has been taught mostly by quantitative approaches, particularly during my bachelors and master studies.

1) According to the Law of Demand, the demand curve for a good will A) shift leftward when the price of the good increases. B) shift rightward when the price of the good increases. C) slope downward. D) slope upward. Answer: C 2) An increase in the price of pork will lead to A) a movement up along the demand curve. B) a movement down along the demand curve. C) a rightward shift of the demand curve. D) a leftward shift of the demand curve. Answer: A 3) An increase in consumer incomes will lead to A) a rightward shift of the demand curve for plasma TVs. B) a movement upward along the demand curve for plasma TVs. C) a rightward shift of the supply curve for plasma TVs. D) no change of the demand curve for plasma TVs. Answer:

This research topic is significant to the current property market in Singapore and its sudden increased demand for houses despite the economic downturn, exploring deeper as to whether the government policies were the real influential causes to this boom in property demand. It has relevance to the economic concepts of demand and supply, elasticity, inflation and monopolistic competition. This topic is worthy of investigation because it is a hot media topic in Singapore, and is widely debated in the country because it’s the most expensive household asset.[2]

On the other hand, economics degree course provides a range of advantages as well as disadvantages. For example, after pursuing the economic course, I will work either as an accountant or as financial analysts as well as investment analysts and statistician. Economics course will provide me with the opportunity to learn new investment skills, capital management and ability to analyze economic trends and patterns. Despite this, economics is a very complex and demanding course. In addition, economics mostly involves tiresome work

When I was first given this assignment I was extremely perplexed at how I would even begin to finish it. I had no idea how economics related to my life in anyway. I hadn’t thought about it critically and I struggling terribly. Thanks to some much needed help from a fellow classmate, he allowed me to get an idea of things from his own essay. After reading not one, but two other essays, I was so surprised at how oblivious I had been. I never realized that just about everything that goes on in my daily life is, in fact, economics. I never realized that from the things I buy to the money I earn from working is all economics. The things I miss out of while working or going to school is a complete opportunity cost. Or even

Many people think that economics is about money. Well, to some extent this is true. Economics has a lot to do with money: with how much money people are paid; how much they spend: what it costs to buy various items; how much money firms earn; how much money there is in total in the economy. But despite the large number of areas in which our lives are concerned with money, economics is more than just the study of money.

I want to study economics and build a solid knowledge in the field to be able to see the causes of things more clearly, understand and find out the ways to make good economic decisions, and build a career through which I can make good contribution to the field by using the acquired academic skills correctly.

I have gained much respect for Economics as a field of study during this course. Being a political science major, I can honestly say that there isn’t all that much science in many of the topics. Conversation in political science can be argumentative and normative without concrete reason or evidence. Economics, on the other hand, is intuitive and backed by research. More refreshingly, economics simply puts its research out for the world to see, and sure individual economists may voice their opinions about public policy, but as a field, it is based mainly on positive statements; it tells it like it is without venturing into how it should be. Economists do have a rough job in a way, they can’t simply do research by conducting regular experiments like altering the nation’s monetary supply or increasing the minimum wage to study the effects on unemployment. It is impressive that they find a way to use existing data to draw their conclusions. They really make the most out of what they are given. Additionally, it is nice that assumptions about complex economic topics are made so even students in basic principles courses can understand the concepts in simple economic models.

not afraid of doing business with anyone no matter what their position is. I realized that all those people are exactly that – people, and that there was nothing I should be afraid of.