Successful Applicant to LSE
My interest in studying economics arose from my fascination with technology. From a young age I experimented with technical gadgets turning them into uses other than those intended by their manufacturers. I realised that many technological transformations from one use to another has been the basis for many economic disruptions.I read Clayton Christensen’s ideas on disruptive innovations and how value creation in industrial chains could be altered within short spaces of time through breakthrough technological changes. My interest developed into a desire to understand the inter-connections between technological innovation, information economics and corporate incentives for strategic re-direction. I found that even in the face of extreme change, economic rationale can prevail. This is expressed lucidly in Shapiro and Varian’s book Information Rules which suggests to me that the internet has not overturned neo-classical economic rationality as claimed by many commentators on the ‘new economy’ but resurrected it. Economics is to me at its most compelling when theoretical logic is applied to practice. I was captivated by Barbarians at the Gate by Burrough and Helyar, which identifies the winner’s curse in a perfect storm context. It is in such analyses that economics shows its power as both a prescriptive endeavour to guide and also as having the capacity to positively describe action. In this sense, it is difficult to dissociate economics from past events which can continuously be re-explained using modern economic thought. My passion for considering advances in economic theorising and reflecting on the past has led me to apply for Economics and Economic History.
I gained invaluable insight into the workings of saving and lending controls and the connections to derivative instruments in the wider economy through my work experience at Barclays Capital last summer. My involvement in the Young Enterprise scheme enhanced my time management, team working and communication skills. My debating skills continue to develop through my Debating Society at school where I won over two consecutive years the Top Debater award. I am a member of my school’s Financial Investment Club where I am part of a team which competes with others on the maximisation of investment portfolios though equity trades.
My interest in technology led me to found a school-funded TechGadget Club. My leadership skills have been advanced by this and running the club has instilled in me the values of responsibility, planning and organisation. In addition, the club has led to my school having developed the role of IT Prefects who monitor the use of computers in the school and assist with trouble shooting IT problems. I play squash and swim and have been awarded a Lifesavers’ Certificate by the Royal Life Saving Society.
Economics constantly changes and yet retains its traditional core logic. Economic History allows us to understand the application of the field to past events and to understand the links between, policy making, social changes and economic development. Emerging areas such as psycho-economics and behavioural economics delve into potential irrationalities. These areas lie at the interface of reasoning based on economic logic and alternative rationalities. The variety of situations where economic understanding can play a role is what drives me to study these fields further at university. My interests, skills and passion for understanding will enable me to succeed at university and to contribute to the development of others.