My Interest In Economics To Become A Policy Maker

My interest in economics stems from the tools it gives economists to make a change within bothpeople's lives and the society we live in. Nelson Mandela once said 'overcoming poverty is nota gesture of charity. It is the protection of a fundamental human right, the right to dignityand a decent life'. The economic divide in the world has always been significant to me, and itencouraged me to think about the disproportionate wealth distribution and socioeconomicinequalities in this world. Studying economics at university will deepen my understanding ofthe implications of macroeconomic policy changes and how they affect the 1. 3 billion peoplewho live in extreme poverty, enabling me to endeavour to change the consequences of amaterialist society. In my A Level economics class, it is exciting to analyse the differenttypes of policy, and both the intended and unintended consequences of implementing policies in an economy.

After reading Yanis Varoufakis' 'Talking to my daughter about the economy', I have becomefascinated with the politics behind economics within government because for Varoufakis:economics is politics, because whoever has control of the money has the power. Varoufakis'book particularly interested me because it started with the question of why there is so muchpoverty in the world, and retraces inequality from the dawn of agriculture to today. Throughout the book, Varoufakis demonstrates that capitalism is the most efficient economicsystem created, however it was made with one fatal flaw - it is structurally vulnerable toincreasing inequality.

I have also become very interested in the extent to which democracy is either a requirementfor or a result of economic development. My research led me to conclude that althoughdemocracy is not an absolute requirement for economic development, it is often acharacteristic in which well economically-developed countries possess (e. g. Denmark). This isdue to the fact democracy encourages creativity by increasing autonomy in people's lives -leading to innovation in both human and physical capital, thus resulting in economicdevelopment.

My deep-rooted interest in policy-making has been strengthened by my work experience in the Department of the Environment and Rural Affairs. I shadowed a group of economists and saw thetheory of policy making put into action, highlighting the impact government has on forming the society that we perceive and live out every day. I was particularly struck by researching the Green Book and being able to understand the complexity behind policy making within government.

Along with studying A Level economics, my other A Levels have aided me greatly in taking thefirst steps to becoming an economist. A Level maths has developed my analytical and numeracyskills and I look forward to using these skills to study economic models. A Level religious studies has strengthen my evaluative skills through essay writing. Debating in class has helped me to make balanced judgement in situations, which I apply to economic models andpolicy-making. My analytical nature will help me to evaluate economic problems as it allows meto gain insight, and use data to reach a balanced and sharp conclusion.

Being part of the charity committee in my sixth form has allowed me to practise the role ofallocating scare resources and making economic decisions to maximise donations for thecharities - e. g. ensuring successful and attractive advertisement to encourage people to bothattend the event and donate. Being a member of the charity committee enabled me to see theimportance of economics in a real life situations.

In the future I hope to use my degree in economics to improve economic inequality by working as a policy maker. My passion combined with my academic potential are two characteristics thatI believe will stand me in good stead for university life and propel me towards my goal to bean economist who will really have an impact.

29 April 2020
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