Economics is a fascinating subject that aims to define the science of how trade has allowed society to prosper, focusing on how we all interact and its direct relevance to how the world operates from a global to a micro level. I love the way that the most complex issues can be simplified into theoretical models but there also remains an ‘art’ within the science because it is not possible to model every parameter successfully. The subject has gripped me since I started studying it a year ago, inducing me to take a far greater interest in current affairs, watching the news and reading articles in The Economist, especially on the state of our Brexit negotiations and the return of protectionism abroad.
Currently, I am most fascinated by the study of Behavioural Economics, as it looks into the psychology of consumers, businesses and governments and why they make the decisions they do, even if they are irrational. In Tim Harford’s ‘The Logic of Life’, he explores human rationality in the places you would least expect, stating “If you do not understand the rational choices that underline much of our behaviour, you cannot understand the world in which we live.”
This book further inspired me to attend a talk by Elspeth Kirkman, the director of the ‘Behavioural Insights Team’ in America, describing their work on ‘how to change people’s behaviour in subtle but profound ways’. While I do not have a specific role in mind, I’m leaning towards a career that explores consumer choices, especially in exploring the economic basis of irrational patterns of behaviour.
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Since I started studying Economics at the beginning of Year 12, I have been a regular attendee of our school’s Guild of Economists, expanding my knowledge of the subject with those around me through looking into past, current and potential affairs to come. A few friends and I decided that we wanted to share our interest in the subject with the younger years in Middle School by creating our own weekly ‘KESonomics’ club.
Our aim was primarily to interest them in the subject, whilst introducing them to a variety of concepts using relatable real-life examples such as consumer demand applied to popular video games. The club has been a great success, with the classroom being consistently filled every week, which I found surprisingly fulfilling. While researching some topics for KESonomics, I came across the Oxford Economics MOOC course ‘From Poverty to Prosperity’, which I thought was particularly interesting, deepening my knowledge of how economic development allows the creation of sophisticated economies and democracies.
I’m a keen sportsman, representing my school in a variety of sports including tennis, cricket, football and rugby. My favourite is rowing, where I found the combination of technique and a close-knit team particularly attractive and culminated in a win above our junior status against several universities and clubs at Worcester Head.
Outside school, I am also involved in many different team activities, being a sea scout/explorer for five years, and recently I helped found a local league 6-a-side football team. I also took part in NCS, where I was able to use public-speaking skills to help my team compete for money to raise awareness of Victims’ Support, by giving this charity more exposure through the use of a social media tool we developed. I also enjoy a number of mentoring opportunities, from cub scouts through to mentoring new Year 7s at my school. I have also undertaken the Young Leaders’ qualification and both Bronze and Silver DofE.
Through the study and application of economic theory, we are able to unlock an understanding to the world in which we live and find solutions to the issues of our time, from the individual to the international. I have therefore decided to study single honour Economics at university to develop my understanding of all aspects of the subject and to experience the broad scope of the subject beyond my current experiences.
