Of Purpose for Grad School of Economics - Personal Statement Example

ment of Purpose for Grad School of Economics Earlier, economics crises were limited to the spheres/borders of nation s. Butnow, economic crises are not limited to the sphere of any nation, but are like a chain reaction. One can easily identify that privatization and globalization reduced the scope of nation states within the international context. Instead, the whole world is generally considered as an open market, without any specific authority to control. The rapid change in international trade and commerce cannot be blamed for this phenomenon because development can be positive or negative. Earlier, economic crises/problems affected small nations. But now, economic problems are haunting economically stable nations and union of nations. For instance, economic crisis is not a new phenomenon to the African and Asian nations. On the other side, the European nations (say, the EU) is facing economic crisis as an imminent threat. Besides, the EU is trying its level best to overcome economic crisis but time will prove the effectiveness of the measures taken. So, one can see that the global economy is no longer an isolated island which exerts positive or negative influence to any specific nation. Within this context, the whole world is trying to unearth the grass root level reason behind this rapid change. Still, one can see that a clear cut solution is not yet formulated by any nation. In addition, the responsibility of an individual who is deeply interested in economics is to help the world to overcome this crisis with ease. So, my interest in economics and my effort to pursue MBA is inspired by the current economic state. The major subject for my under graduation was political science. One can see that political science and economics are interconnected. For instance, political decisions influence economic development. At the same time political interest and lobbying by multinational corporations deeply influence the decisions of politicians. When I was an under graduate student, I used to ponder upon the relationship between political science and economics. In the beginning, my interest in political science helped me to analyze the importance of democracy in the international context. For instance, democracy helps the world nations to be in the forefront of development. On the other side, the nations under dictatorship never accept democracy because dictatorship is totally against the rule of the people. Still, the development in the field of information technology, especially the popularity of the internet and social networking sites, are helpful for those who believe in democracy. On the other side, economic development of world nations is deeply influenced by the popularity of democracy, without considering national boundaries. So, I came to realize the fact that democratic thought and the development of democracy can exert positive influence upon the global economy. For instance, the initiatives undertaken by the European Nations (EU) and the Middle Eastern nations (GCC) can be considered as an initiative to regain democracy. So, my deep interest in my under graduate major helped me to realize the fact that my future career will be in the field of economics, not political science. My undergraduate study in political science helped to realize the fact that my personal interest and career interest are same. For instance, my interest in political science helped to analyze the grass root level reason behind the development of world politics, which deeply influenced the development of human race. Within this context, I did not limit my personal interest within the sphere of political science. When I was an undergraduate student, I used to develop my interest in different fields related to political science. One can see that an undergraduate student, especially a political science major student, must be aware of the fact that learning political science does not limit one’s personal interest and career goal. Instead, one can extend one’s personal interest and career goal to other fields related to political science. Earlier, I was not so aware of the relationship between my personal interest and career goal. Once, one of my classmates pointed out that the whole world is going to face some economic problems. Then, I argued that we need not be anxious about economic problems because our field of study is different. But my classmate told me that I need to go through a number of books that are related to political science and economics, and try to find out similarities between both the subjects. At that time, I ignored his advice because a political science student cannot imagine that reading books related to economics will help one to have deeper insight in political science. But my classmate’s advice haunted me for a while because I need to find out the secret relationship between political science and economics. I tried my level best to forget my classmate’s advice but I was helpless to do so because my undergraduate study eventually led me towards economics. Now, the world is undergoing economic crisis and the world nations are in search of an apt solution to rectify the same. One can ask me that how a political science undergraduate can help the world to overcome the current economic crisis. My aim is to help the national/international organizations to expand their business and to take timely decisions based upon the analysis of economic factors. Within this context, my prior knowledge in political science will be helpful to predict and analyze the possible political decisions taken by the world nations. First of all, at my graduate school, I wanted to learn more about the relationship between political science and economics. So, my attitude towards economics will help me to know more about the reason behind the current economic crisis. I am aware of the fact that the national/international organizations are in search of MBA graduates who are able to make smart business decisions. One can see that my prior knowledge and experience in the field of retail business will be helpful to deal with subject of economics with ease (say, during my undergraduate years, I used to work as a retailer). As an MBA aspirant, this prior knowledge/experience will be an added advantage for me because the same proves my interest in economics. As pointed out, my area of interest within the field of economics is administration because administrators/mangers can help national/international organizations to take apt decisions in critical situations. Martin J. Ricketts stated that “Making the best use of scarce resources will therefore involve forming agreements with others, and economics then becomes the study of the social mechanisms which facilitate such agreements” (4). Besides, my current employment at a leadership development consulting firm proves that I am deeply interested in the field of administration. Earlier, my knowledge in the field of economics was limited to the context of political science. Gradually, I came to realize that I need to know more about economics because all the decisions taken by politicians exert positive or negative influence upon the global economy. So, I asked undergraduates/graduates in economics about the important books in economics. Most of them pointed out that I need to read Economics in One Lesson by Henry Hazlitt, and Basic Economics by Thomas Sowell. Both the books helped me a lot to have an overall idea on economics. Besides, these books led me to towards other books by the same authors. Later, my interest in political science got transferred to economics. So, one can see that my undergraduate education in political science as the major subject eventually led me towards the field of economics. One cannot ignore the current economic state because it is an imminent threat to the development of the whole world. After graduation, I did not try to continue my higher education in political science because my ultimate aim is to pursue an MBA in economics and to become a successful and efficient administrator/manager in future. I am aware of the present challenges in the field of economics. Still, I feel confident that my interest in the field of economics, my prior knowledge/experience in the retail business, and my employment at the leadership development consulting firm will be helpful for me to prove myself as a successful and efficient graduate student. Besides, it is my right and duty to prove myself as a productive citizen who is ever ready to face challenges in private and public domains. So, the best possible way for me to prove myself as a productive person and to contribute to the society is to pursue MBA. In addition, my personal interest in economics accelerates my desire to be in the forefront of the global arena of business. From a different angle of view, leadership quality will be helpful for an individual to consider others as equal. So, the leadership quality acquired at the leadership development consulting firm will be helpful for me to deal with other students with more ease. In short, I am ready to face challenges and my positive attitude towards challenges will be helpful to amalgamate my personal interest and career goal into a single unit. I know that success is reserved for those who are ready to undertake challenges, not for the feeble minded individuals. So, I am aware of my strengths and limitations, and this will help me to pursue my MBA, and will provide me a chance to prove myself as a productive citizen with a global outlook. Works Cited Ricketts, Martin J. The Economics of Business Enterprise: An Introduction to Economic Organisation and the Theory of the Firm. Cornwall: Edward Elgar Publishing, 2003. Print. Read More