Economics is the study of how different actors such as governments and firms manage the limited resources of the planet to meet the unlimited demands of our society. Clearly, humans can never be satisfied with what they have. Hence, the study of economics is important to help maximise consumers’ satisfaction in line with the limited resources that we have. Economics is a relatively fun subject because we can see economics in action everywhere. For instance, the laptop that I am currently writing this essay on is the product of multiple layers of economics. This specific laptop might have been “designed in California”, but its parts were manufactured and assembled in China, due to the admittedly cheap labour costs. The prospects of opening a factory in the U.S. would be economically illogical as the profit of producing and selling this specific brand of laptops would not be maximised. I believe that a solid foundation in this social science is very relevant in the increasingly industry-centric nation that is Malaysia. Economic topics especially macroeconomics shows typical business patterns that will help the country make the right decisions. If the country is facing a major economic problem, preventive measures can all be derived through the deep and extensive study of economics.
Advances of Economics
Through the study of both the macro and micro, I will be able to delve deeper into the economies of individuals, corporations, countries and essentially the world. Both types of economics have a diverse range of applications in the real world. I distinctly remember an article I’ve read that says “by the end of an economics degree, the graduate emerges as a student who can read as well as a law graduate, compute as well as an accountant, and analyse data as well as a statistician”. This wide breadth of study that economics students enjoy encompasses knowledge and skills not only in that subject alone but students also study mathematics and politics alongside the course. Economists can advise the government on strategic economic policies that will help boost the economy of the nation.
Personally, I’ve had the opportunity to meet all sorts of people throughout my life, from the very rich, to the extreme poor. It is my greatest intention to close the wealth gap that currently plagues our country. It is undoubtedly true that Malaysians face an economic divide on almost every level of income. Therefore, my interest in the study of economics has something to do with the experiences that I’ve had with other people. An entirely different issue that I take really close to heart is the environment, pollution and climate change. As someone who grew up with the forest being his literal backyard, I’ve taken a keen interest in preserving the natural wonders of our country. Although I am a stern believer of progress, I believe the government and corporations must make a commitment towards sustainable development. No one can deny that Malaysia holds potential to become an even bigger international tourist destination. By marketing our country as an eco-tourism hub, I believe that we are able to produce more jobs whilst continuing to preserve Malaysia’s status as one of the most biodiverse region in the world. As an aspiring diplomat, I plan to foster relationships with other countries to bring in more wealth, business opportunities and foreign investors to our nation. In this age of globalisation, diplomacy is more relevant than ever as this field aims to promote goodwill and cooperation among nations.
I believe that I am a worthy recipient of the scholarship because of my passion and persistence. I’ve failed countless times before and managed to use those failures as motivation. For example, after coming back from my one-month exchange program in the U.S., I got a bunch of C’s and D’s for my mid-year exam. I even failed my Additional Mathematics once. However, being an extremely goal-driven person, I pulled through and consistently placed first in my batch throughout Form 5. I also managed to achieve my goal results for SPM, which is straight A+. I have a genuine interest to help people not only in my own community but also the global population. One of my projects, The Bornean Foundation, is dedicated towards promoting social mobility among the underprivileged. This attribute of mine stems from my constantly watching humanitarian-type documentaries that focus on global issues such as world hunger and global warming.
I genuinely believe that I am a well-rounded individual. Throughout my participation in the school’s Water Vision team, I’ve dealt with quite a few businesses and NGOs, requesting for collaboration opportunities and funding assistance. As the former “Pengurus Besar” (General Manager) of my school’s entrepreneurs company (Michaelian Millionaires Sdn. Bhd.), I’ve led a team of 25 shareholders to victory during the state level Young Entrepreneurs Convention. Through this program, I directed and led a fully-functional business which offers award-winning products and services. Being a problem-solver, I’ve participated in several innovation and invention competitions throughout my secondary school career. I’ve even represented Malaysia in invention exhibitions overseas, including in Thailand and Indonesia. Aside from that, I’m easily adaptable to my surroundings. I’ve been put in weird and challenging situations before and managed to thrive in those environments. During the Sime Darby Young Innovator’s Challenge, I was the only member of my team who was from a government school, the rest being from private or international schools. I’ve never met any of my teammates prior to the competition yet we managed to become the inaugural champions of said competition.