The basic economic principle is the allocation of scarce resourceshowever, this does not necessarily mean resources are allocated fairly. Due tothe misallocation of resources, there are countries and people who aresuffering. This comes from the idea that a wealthy economy has more power thana poor economy which increases absolute poverty. Where a person is unable tomeet their basic need of food, clean water, sanitation, health, shelter andeducation.
When I visited my motherland, Sri Lanka, I had a clear understandingthat this was true. This is one of the reasons why I want to study economics, Iwant to rectify the disparity and give opportunities to people who are notfortunate themselves. A knowledge of finance is a key aspect when entering thebusiness and finance world. I know this is crucial and I believe doing a degreein economics and finance will help me enter various fields of work such aseconomics, business, management and accountancy. I am currently studying Maths, Economics and Business, thesecourses have provided me with valuable insight into the world of business andfinance. Maths at A-level has helped me to think logically and analytically.Through solving problems, I have developed resilience and I am able to thinkcreatively and strategically, which will be required when pursuing my degree.Economics A-level has given me the opportunity to broaden and increase myknowledge with regards to economic issues.
My passion in economics iscontinually strengthened by my regular reading of ‘The Economist’ and ‘TheFinancial Times’. I understand that having knowledge of current affairs isessential as it allows you to apply the knowledge to the theory. For example,Brexit will allow us to see whether the predictions were right or wrong.As Benjamin Franklin said ‘An investment in knowledge pays thebest interest’, I strongly believe that “Knowledge is power”, in order to besuccessful in the business and financial world education is key. This has ledme to admire and respect Dr Yunus, his approach to society has made a hugeimpact to ordinary people, for example lending money to entrepreneurs who weretoo poor to qualify for a traditional bank loan will be a risk however he sawan opportunity and took it. Like Dr Yunus I want to also make a positivedifference in people’s lives, who do not have opportunities. During school and sixth form I have done various activities toboth develop my current skills and learn new skills. I have successfullycompleted both Bronze and Silver Duke of Edinburgh.
Being fluent in both Frenchand Tamil is one of my goals that I want to achieve. Due to this I haveattended French classes and have attained up until grade 4 in TamilAdditionally, I help within my school as I am a peer mentor, mentoring requirescommitment and compassion the student’s requirements, I have been successful asa mentor since they have become more confident in themselves and have becomemore open to new ideas. Having completed my National Citizenship Service in2016, I have become more confident as it required me to do activities that wereoutside my comfort. Being put into a team where I knew nobody and being told weneed to work together for 5 weeks was daunting, however, I realised that whenworking together more work is done and more ideas are made. Some of the skillsthat I attained was leadership skills, public-speaking skills andcommunication. My team was heavily involved in logistic and finance and teamwork was key to achieve our fundraiser for the charity SENSE.In conclusion, I hope that taking this course at university willequip me with new experiences and increase my intellectual knowledge andpractical skills.