best books for economics personal statement

Sample Economics Personal Statement (admitted to Oxford, Cambridge, LSE)

by Talha Omer, MBA, M.Eng., Harvard & Cornell Grad

In personal statement samples by field.

The following personal statement is written by an applicant who got accepted to top graduate programs in economics. Variations of this personal statement got accepted at Oxford, Cambridge, and LSE. Read this essay to get inspiration and understand what a top economics school PS should look like.

You might also be interested in reading this Statement of Purpose in Economics that got admitted to Harvard, Yale and Princeton.

Sample Personal Statement Economics

“Flick…chuggachuggachuggaa…puttt-putttt-puutttttt…rizzzz…”

The sounds coming from near the doorway may have startled an outsider but were barely noticed by the people lounging on charpoys and mooras (wicker stools). With the atmosphere abuzz with their chatter, the sputtering sound of the diesel generator lent more time to catch up as the bulbs lit up and fans whirred on throughout the haveli (palace) on an otherwise hot evening. But on days when it refused to crackle, my grandmother would enkindle gas lanterns filling the veranda with hissing sounds and soothing moonlight rays.

I still cherish these memories from my childhood trips to XYZ, my native village, some 450kms from the closest city. At the time, the short sojourns from Kuwait felt rather adventurous. However, the perspective turned wrong when I permanently moved to XYZ. Due to unannounced electricity breakdowns, we would find ourselves groping in the dark to the closest candle stand while sweating in the scorching summer.

And just when we thought it couldn’t get worse, the occasional power breakdowns segued into a full-blown crisis of the decade. Over the next seven years, we witnessed unprecedented power outages averaging 15-18 hours daily. People weren’t just lamenting the loss of mental peace; they were mourning the monetary losses worth billions of rupees translating into 1.5% of GDP.

Fast forward 15 years, and I found myself in a position to alleviate the situation. As Deputy Administrative Head of the Government’s Economic Affairs division, I administer a departmental budget worth $500 million. I am currently undertaking solarization projects. A recent shift towards renewables has occurred after public unrest during the early decade led to hasty investments in thermal-based power plants. Unfortunately, seven years later, we are still reeling from the aftermath of a bitter public backlash as we have the lowest regional electricity consumption per capita.

In addition to high tariffs, the energy sector has been marred by the accumulation of circular debt of $30 billion. This has been caused by multiple factors, such as electricity theft, transmission losses, and non-payment of dues. Having worked in Economic Affairs Division, I have also been part of a team that took massive power sector reforms, including:

elimination of subsidies
policy formulation on electricity theft and conservation
overhaul of sectoral regulatory bodies
privatization of distribution companies et al.

However, as the Program ended, so did the reforms.

Regrettably, negative externalities from these energy woes have had spillover effects on all socio-economic sectors. The environment has especially poorly been affected by the process for the lack of an integrated generation and transmission policy framework in the renewable industry. Being a lower riparian state has also exacerbated climate change. We face extreme weather conditions – floods, droughts, smog, and diminishing water tables. Unable to agree on water issues not covered under the Indus Water Treaty has led to regular skirmishes and legal battles in the International Court of Justice.

Given the background, my country’s economic and Energy woes require a holistic understanding of the subject. This makes Economic policy specializing in Energy the right choice for my graduate studies. Furthermore, I can become an effective leader and economist in the sector through the interdisciplinary pedagogical approach covering policy, economics, management, law; practical skills; quantitative and qualitative analysis within an international context.

My aim is socio-economic development in tandem with confidence-building measures and strategic partnerships with the neighboring countries. Studying at Oxford will provide this learning opportunity in and out of the class as I will interact with some of the most brilliant minds worldwide and work in teams with them. I also look forward to student-led events, conferences, guest lectures, field trips, and panel discussions to augment my understanding of supranational political demands. This will help me lead economic policy reforms for the next 25 years.

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How to Write your Economics Personal Statement

Are you applying to economics courses at university this year? If so, this guide might come in handy. Based on my experience helping students with personal statements, as well as discussions with other Cambridge students and fellows, I have built up an understanding of what makes a very good economics personal statement. Below I present a series of steps for how to write the personal statement.

Decide on your course

It sounds obvious, but make sure you have decided on the courses which you would like to apply to. If you are unsure, you can consider your A-levels, particular interests, or whether you have a particular job in mind for after university.

From this point onwards, I will assume you are interested in applying for some kind of economics degree. However, the advice below generally applies to joint degrees and other courses however.

Supercurricular activities for economics

Given you have decided on the course for which you are applying, the next step I recommend is to write a list of all your supercurricular activities .

This is not the same as an extracurricular activity. You can think of the difference like this:

A supercurricular activity is an activity that takes place outside of school lessons, that is directly related to your university course of choice. An example is reading an economics book.
An extracurricular activity is, again, an activity that takes place outside of school, but that is not directly related to the course you are applying to study at university. An example of this is being part of a sports team.

Supercurricular activities should form the bulk of your personal statement. Some universities post recommendations such as 75 to 80% of the personal statement should be about supercurricular activities exclusively. Other universities will state that they are only interested in your academic pursuits (in other words, supercurriculars).

Complete Guide

For the complete economics personal statement guide, click the link here (paid resource):

Types of Supercurriculars

Supercurricular activities can include, but are not limited to:

Online or in-person lectures.
Magazines or journals.
Online courses.
Essay competitions.
Reading blogs.

In a future blogpost, I will outline some examples for various areas of economics.

How should you choose your supercurriculars?

I recommend choosing activities based on your particular interests within the subject of economics. For example suppose you are interested in labour economics (in other words, what decides the wage and employment level in an economy or labour market). Then I would recommend finding activities relating to these topics. This could include entering an essay competition by writing on a labour economics topic such as migration, minimum wages or inequality, or searching in YouTube for lectures relating to migration (such as Alan Manning’s LSE lectures, for example here ). You may be able to find podcast episodes covering these particular topics.

Another example is let’s say you had an interest in environmental economics. Then you could look into a podcast episode on carbon taxes (for example here ). You could then look into books, blogs or online courses on the topic and so on.

One possible way to structure your personal statement is to have one paragraph for each topic area. You could have a paragraph discussing labour economics, then another discussing the economics of crime, and a third paragraph discussing macroeconomic policy as an example. However supercurricular activities may not naturally group into topics. So you can choose to link them together in other ways, such as the type of activity or a common skill the activities show.

Several economics courses are looking for you to be proficient in mathematics. Hence it may be worth devoting some part of the statement to discussing economics supercurriculars that relate to mathematics, covering areas such as the use of calculus in economics, statistics, econometrics, game theory and so on. Alternatively you could simply includes pure mathematics supercurricular activities such as maths challenges or reading.

Activities to avoid mentioning

Ideally you should avoid mentioning books where economics and popular culture overlap. This includes books like Freakonomics and the Armchair Economist for example. While these are very enjoyable books to read in their own right, these books are too frequently mentioned and are often seen as too basic by some universities.

If you are applying to a very competitive university that does not interview, for example LSE, then it would be preferable to find books that are less frequently mentioned.

Work experience is not necessary for an application to an economics course. This is because work experience is often acquired through connections rather than ability, so it would be a poor indicator for admissions staff to use in assessing students’ abilities. Also work experience is often not directly relevant to the economics course. However work experience can be mentioned if you work on something that is relevant to the economics course, such as working as a research assistant or an economics journalist.

Generally you should not be mentioning your A-levels. Almost everybody applying is doing A-levels and so speaking about what you have covered in your A-levels will not help you to stand out. In any case your teachers will be mentioning your A-levels in your teacher reference anyway, so it is better to devote the personal statement to activities beyond your A-levels. If there are one or two relevant ideas from A-level that you really want to mention, as they are very relevant, then you can do so. But I would not recommend devoting a whole paragraph to your A-levels for example.

I have my supercurriculars. What next?

Suppose now you have your list of supercurricular activities. You can use these to form the main body of your personal statement.

For these activities, as above, group them into particular paragraphs. This grouping could be based on the topic of the supercurricular activities. You could aim for 2-4 activities per paragraph.

To discuss each activity I recommend three steps:

Name the activity. For example name the book you read or name the essay competition title.
Discuss what you specifically did. For example what did you write about specifically in your essay competition, or what was involved in your online course?
Explain your personal takeaway. Did you agree with the book? Or did you find something particularly fascinating about the essay competition?

Note this is just one possible way of doing things. Depending on the activity you are discussing, you may find a different structure appropriate.

Between activities and paragraphs, it is often a good idea to try to create linking clauses. For example if you discussed your mathematical ability in one paragraph, then you could easily transition into discussing the use of statistics in economics in your next activity or paragraph.

I plan to expand more on how to write about your activities in a future article.

Other Paragraphs

I will now pay particular attention to other paragraphs you may need to write.

Introductions

Often students spend too much time trying to write a good introduction at the very start of the writing process. I recommend leaving the introduction until you have been writing about your supercurricular activities.

One mistake when writing introductions is to start with “from a young age” or “since I was five….”. This way of starting your statement is far too common.

Instead you could jump into discussion of a particular supercurricular activity. This could be an activity that summarises well why you want to study economics for example. You might also have supercurricular activities that do not fit well into a particular paragraph. The introduction could provide a good place to put those kinds of activities too.

Extracurricular Activities

It is possible to put a small paragraph in the statement discussing your extracurriculars (in other words activities not related to economics), for example sports teams, societies, positions of responsibilities, other hobbies etc. Some universities will want to see you are well rounded candidate while others will only care about your academics. I recommend inspecting the applications pages of the universities you are applying to, in order to verify the importance of extracurricular activities to the universities you are applying to.

You may wish to round off your personal statement with a few concluding sentences. I have seen this done in a few ways:

A short sentence summarising why you think you would be a good candidate for the course.
A couple of sentences discussing the most important part of your application or something you want to emphasise. This could be a research interest in a particular area, or a particular strength within the field.
Alternatively, if you think there is a common idea linking most or all of your personal statement activities, you could mention it here too.

See if you think any of these ways are appropriate for your statement. Alternatively you could find your own way to conclude.

Checking and Revising

Get your statement checked by multiple people. Also different teachers will give different advice, so do not feel like you have to accept one’s person entire advice (including my own advice). After all, this is your personal statement and nobody else’s.

In revising the statement, one process most students go through is cutting down characters to fit the UCAS character and line count limits. If you are exceeding these limits, see if you can make points more succinctly. Often a second pair of eyes is very helpful in this instance. Beyond that, you may have to choose one or two of your activities to leave out, based on which you think offers least value to your personal statement.

Best of luck in writing your statement. More will follow on specific ideas for economics supercurricular activities.

The 7 Best Economics Books of 2024

Learn how economics plays out in society and everyday life

Michelle Lodge is a contributor to Investopedia, who is also a writer, editor, and podcaster.

best books for economics personal statement

Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, researcher, and educator. She is a financial therapist and transformational coach, with a special interest in helping women learn how to invest.

The economy and how it impacts families is a burning issue today, as inflation and high interest rates dominate the news in the United States, becoming a key element in the midterm elections. In the United Kingdom, economics is at the heart of the troubles plaguing the island nation and former empire that welcomed its third prime minister in 2022. Throughout the world, too, it is a major talking point.

As you read through our list of the seven best books that cover economics, you’ll find diverse and in-depth viewpoints covering how this science plays out in everyday life.

In Serious Money: Walking Plutocratic London , our best overall book, sociologist Caroline Knowles takes you through the neighborhoods of the capital city telling stories of how the ultra-wealthy live and work; how they spend their money, marry and divorce; and why London is one of the best places for those with nefarious intentions to hide money from authorities. The Times of London called the book a “latter-day Canterbury Tales .”

Another fascinating read is When McKinsey Comes to Town: The Hidden Influence of the World’s Most Powerful Consulting Firm by Walt Bogdanich and Michael Forsythe, which investigates the prestigious, powerful consulting firm, revealing where it has failed to live up to its carefully cultivated sterling reputation. The New York Times investigative journalists detail how McKinsey sometimes works for opposing sides, without revealing its very obvious conflicts of interest, and offers its clients advice that can lead to unsafe outcomes.

Cambridge University political economist Helen Thompson has generated buzz for her Disorder: Hard Times in the 21st Century, which delves into the reasons for the world’s instability. In her telling, that shakiness is tied to geopolitics, which centers on energy; economics; and how the democracies of the most powerful nations work and interact.

Best Overall: Serious Money: Walking Plutocratic London

Coverage of the ultra-wealthy rarely reveals the reality behind their day-to-day lives—their many houses and super-yachts, the tony schools they attend, their memberships in exclusive clubs, traveling adventures, and the ease and perks that being very well-heeled affords them. Here’s a book that shows you just that. It is especially relevant now, as Britain’s richest-ever prime minister (at least in modern times), Rishi Sunak, a former investment banker, and his wife, Akshata Murty, a tech heiress who reportedly is wealthier than King Charles III, take up residence at No. 10 Downing Street.

In Serious Money: Walking Plutocratic London , author and sociology professor Caroline Knowles takes you on a slow, satisfying stroll through super-wealthy London, thanks to interviews with movers and shakers, support staff, and consultants. In the context of the Panama Papers and the Paradise Papers, both of which revealed offshore entities used by the global elite, Knowles writes, “London is internationally renowned for its expertise in hiding money.” She is a former professor at Goldsmiths and now a global professorial fellow at Queen Mary, both University of London, and the author of Flip-Flop: A Journey Through Globalisation’s Backroads and co-author of Hong Kong: Migrant Lives, Landscapes, and Journeys.

The book features maps of London neighborhoods and stories from 43 individuals, all of whom remain anonymous and are given nicknames. They include: Boy, a young entrepreneur and owner of a bar in Shoreditch, a hipster neighborhood adjoining The City, London’s Wall Street; Quant, an algorithm writer for a bank; Cake, a former banker and private equities dealer specializing in fintech; Butler, a butler who has worked in some of London’s wealthiest households; Journo, a Russian journalist and chronicler of London’s invisible Russian entrepreneurs; Walker, a family office employee who works on domestic and family services; Palace, a Notting Hill mom, who hails from the landed aristocracy and does volunteer work; Babysitter, a young woman who explains life in a commuter village; and Traveller, who organizes unusual luxury trips and travel experiences for very wealthy clients.

After observing protests outside the Saudi embassy, Knowles notes, “Just as in London, you are supposedly never more than six feet away from a rat, in [moneyed] Mayfair, you are rarely far from a human rights violation.” Another story tells of a London divorce in which the soon-to-be ex-wife, a former model, asks the court for £500 million annually to fund a lavish lifestyle that includes three staffed homes, steady replenishment of her shoe and jewelry stock, and many other excesses, and is awarded £53 million instead.

Knowles also discusses how plutocratic London co-exists side by side with wealth from the Middle East and Britain; how income inequality was at its ugliest in the lead-up and aftermath of the fire at the low-income-housing Grenfell Tower in 2017 that killed 72 people and displaced everyone living there; and how life among some of London’s wealthy has carried on uninterrupted for generations.

Best Exposé of a Powerhouse Company: When McKinsey Comes to Town

Any employee or ex-employee of a corporation knows that “when McKinsey comes to town,” heads are going to roll, and it could be theirs. In Walt Bogdanich and Michael Forsythe’s riveting, heavily annotated book When McKinsey Comes to Town: The Hidden Influence of the World’s Most Powerful Consulting Firm , the authors blow McKinsey’s cover as the good guys with integrity and discretion. They detail how this influential, tight-lipped consulting firm plays both sides of the fence, so to speak, by working for opposing sides without acknowledging conflicts of interest, and renders advice to some unsavory clients at the expense of safety and other unfortunate outcomes, in the interest of driving up short-term profits for the client and collecting high fees for McKinsey.

Both authors are award-winning journalists who now report for The New York Times. They explain how this “company defined by numbers, spreadsheets, and PowerPoint slides” enjoys near-absolute loyalty from its consultants, sometimes years after they have left the firm, and how that steadfastness proved a challenge in their reporting. Fortunately, though, some “McKinseyites” stepped forward to proffer insights into the firm’s practices and personalities.

McKinsey faced a disaster of its own making in South Africa, detailed in the chapter “Clubbing Seals: The South African Debacle.” McKinsey came to Johannesburg, hoping to establish a lucrative African foothold. Eventually, the firm became the focus of several government investigations involving “tainted contracts” and other irregularities connected to the country’s railroads and electricity utility, the airline South African Airways, and the financial consultancy Regiments Capital. McKinsey publicly apologized to the South African government several times, but the series of faux pas; links to the influential, corrupt South African Gupta family; and other illegal dealings rendered it mortally wounded in South Africa and left a stain on its global reputation.

Best Biography of an Economist: Empathy Economics

Janet Yellen is a rare individual. She is a highly accomplished woman and scholar in a male-dominated profession and is now the first female U.S. Treasury secretary . She has held the other two top economic policy jobs in the nation—chair of both the Federal Reserve and the Council of Economic Advisers —and was the first woman in both posts. In Owen Ullmann’s meticulous and laudatory Empathy Economics: Janet Yellen’s Remarkable Rise to Power and Her Drive to Spread Prosperity to All , he outlines Yellen’s philosophy of lifting up those from the economic ladder’s lowest rung and her humanity, which stands out in the brutal world of Washington politics.

Yellen grew up in Bay Ridge, Brooklyn, N.Y. She is the daughter of a physician who employed a pay-what-you-can policy for his patients and a former elementary schoolteacher mother, who also ran her husband’s practice after he had a medical setback. Ullmann, an award-winning journalist, takes the reader from Yellen’s happy, stable childhood, where she observed economic disparities among the patients who visited her father’s office. He recounts the gender discrimination she has faced at universities and throughout her career, and her 1978 marriage to George Akerlof, who won the Nobel Prize in Economics.

He details her stints at the Fed—including her firing by then-President Donald Trump, who said in a staggeringly superficial pronouncement that she was too short to be Fed chair, a job she had been doing well for four years before Trump took office—and her professional life today. Ullman writes of Yellen: “One signature achievement involves climate change: For the first time, she made it the focus of every aspect of the financial world that the Treasury supervises.”

A speech to her Treasury Department staff after her confirmation shows how Yellen’s earliest experiences are still with her. “My father was a doctor in a working-class part of Brooklyn, and he was a child of the Depression,” she said. “He had a visceral reaction to economic hardship, telling us about patients who lost their jobs or who couldn’t pay. Those moments remain some of the clearest of my early life, and they are likely why, decades later, I still try to see my science—the science of economics—the way my father saw his: as a means to help people.”

Best on Economic Fault Lines in Today’s Unstable World: Disorder: Hard Times in the 21st Century

University of Cambridge political economist Helen Thompson writes about long-standing political rivalries among the great powers in her well-received Disorder: Hard Times in the 21st Century , which was short-listed in September 2022 as one of the Financial Times ’ best books this year. The book’s subtitle is a homage to author Charles Dickens and “his meditation on industrial civilization pitted against ‘the innumerable horsepower of time’” in Hard Times: For These Times .

Today’s pressure points and shocks, writes Thompson, are in economics, technology, military strength, and domestic political resilience. She notes that disruption in the last decade has been wrongfully attributed to populist nationalism, in the context of the financial crisis of 2007 and 2008 and the plummeting of a “purportedly liberal international order,” adding that “at the systemic level much remains unexplained, not least because energy has gone unrecognized as an important cause of the geopolitical and economic fault lines at work.” Thompson builds her message around three histories—geopolitical, which centers on energy; economic; and democracies—all of which she ties together to help explain the growing instability in the world today.

Best Collection of Opinions: Economics and the Left

In Economics and the Left: Interviews with Progressive Economists, editor C.J. Polychroniou presents 24 economists “whose lifework has been dedicated to both interpreting the world and changing it for the better,” in their own words and on various topics. These include their home countries, modern monetary theory (MMT) , Marxian and Keynesian perspectives, how their upbringing and parents helped to form their economic views, and the impact of COVID-19.

The group includes Brazilian Nelson Fihlo Barbosa; Briton Diane Elson; American, specifically Californian, Teresa Ghilarducci; Chinese, now U.S.-based, Zhongjin Li; and Turkish, now U.K.-based, Ozlem Onaran. Polychroniou is a political scientist, political economist, author, and journalist who has taught and worked at numerous universities and research centers in Europe and the United States. About the economists, the Bloomsbury Publishing website writes that “they are all people dedicated to the principles of egalitarianism, democracy and ecological sanity. The result is a combustible brew of ideas, commitments and reflections on major historical events, including the COVID-19 pandemic and resulting global economic recession.”

Best on Economic Pursuit as the New Religion: Work Pray Code

Religions and their services and rituals are often the go-to destination for many individuals outside of work as a place not only of faith but also of fellowship, and of developing an identity and sense of belonging and purpose. Yet that’s not the case for some tech workers in Silicon Valley, according to University of California-Berkeley sociologist Carolyn Chen in Work Pray Code: When Work Becomes Religion in Silicon Valley. These white-collar employees, in sync with their employers’ aim in Silicon Valley, have created a “theocracy of work,” she argues, now willingly accepting “spiritual” sustenance from their workplace and employers.

Chen is an associate professor of Asian-American and Asian diaspora and comparative ethnic studies at the San Francisco-area university. She notes that some Silicon Valley employers willingly take on the pastoral roles that ministers, rabbis, priests, and imams once handled. In addition to doling out pay and providing traditional perks such as company cafeterias, which were common in paternalistic companies like the film company Eastman Kodak in the 1950s and ’60s, tech companies now assume maternalistic roles. Their perks can include wellness offerings—yoga, massages, and mindfulness classes—and 24/7 foods and snacks that are often gourmet in quality and cater to a variety of tastes and ethnicities.

Most tech workers at knowledge hubs come from elsewhere, be it a foreign country or another part of the U.S. They arrive in Silicon Valley with virtually no network, so they commence forming their connections and identity in the tech workplace. Chen’s research and interviews show also that some formerly religious individuals abandon their faith practices upon relocating in Silicon Valley. They then put the energy and fervor that they once injected into their spiritual life into tech startups and jobs—a trend more prevalent among workers in their 20s, 30s, and early 40s than in older techies.

“Silicon Valley indeed killed the Buddha,” writes Chen, who also authored Getting Saved in America: Taiwanese Immigration and Religious Experience . “But they have replaced the Buddha with another religion’s leader, the productivity leader in the religion of work. Like the dry cleaners, chefs, masseuses, and executive coaches, he’s there to ‘awaken’ tech workers to their full productivity.”

Best for Making Economics Simple: Talking to My Daughter About the Economy or, How Capitalism Works—and How It Fails

Sometimes the “soft science” of economics warrants a series of simple explanations that build as new concepts are presented. That’s the approach taken by former Greek finance minister and University of Athens economics professor Yanis Varoufakis in Talking to My Daughter About the Economy, or How Capitalism Works—and How It Fails. While nearly everyone can benefit from reading this book, it is the beginner to economics who will gain the most.

The author begins with the chapter “Why So Much Inequality?,” a question that his daughter, Xenia, asked him when she noticed the economic disparities among children in the world. He spells out the ancient beginnings of markets, surpluses , the advent of writing, debt, money, and the state. In subsequent chapters, he delves more deeply into the birth of a market society , the marriage of debt and profit, banking, and pandemics. Varoufakis is also the co-founder with Croatian philosopher Srećko Horvat of DiEM25, the Democracy in Europe 25 organization, a pan-European organization that aims to restructure European treaties.

If you want to pull back the curtain on London’s vast wealth and the secretive world of its mega-rich, then spend time with Serious Money: Walking Plutocratic London , by sociologist Caroline Knowles. She used her interviews with representative individuals in London and surrounding areas and research to paint a vibrant portrait and create a satisfying read about where Londoners spend, hide, save, and invest their “serious money.”

Why Trust Investopedia?

Michelle Lodge knows how to find the best of its kind in the book world. She has been published in Publishers Weekly and was an editor and writer for Library Journal , both of which cover books and the industry. While a book review editor at Library Journal , which recommends books for public library collections, she selected a number of top books on economics for review. She was also the editor of the On Wall Street Book Club, in which she reviewed books and interviewed authors on a podcast.

Seeking out a diversified field of books on economics requires lots of reading, including releases from book publishers and industry consultants, a passel of contenders, as well as publications, such as the Financial Times , The New York Times , the London Review of Books , and Bloomberg, and consultations with many experts. Lodge also pulled her resources together by collecting recommendations from Investopedia Financial Review Board members and Investopedia editors. Lodge’s aim is to present the reader with factual, actionable books that are well-written, enjoyable to read, and cover the bases in subject matter and expertise. Her goal is also to tap into a diverse pool of new and established writers, whose coverage reveals the many influences on and perspectives about economics.

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How to Write an Economics Personal Statement

30/05/2022 Emily Watson

If you’re applying to study an Economics course in the UK, then you’ll know the subject is notoriously competitive. One area that is particularly important in your Economics application and can help you stand out is your UCAS personal statement.

Your personal statement is a crucial part of your application because it is the first and often the only chance you get to tell your chosen universities why you want to study an Economics degree, what your motivations are, and give context to any qualifications, skills and experience you have.

Your Economics personal statement should be solely written by you and can follow any format you desire. However, based on the experience of our professional admissions tutors , who help more than 95% of students get into their first and second-choice universities, there are some guidelines you should follow. This article goes through the key stages of writing an Economics personal statement, including some top tips from The Profs’ Head of Admissions, Joseph Robbins, and information on how to access further support.

What is the goal of your personal statement?

How long should your personal statement be, step 1. what are your motivations for studying economics, step 2. what appeals to you specifically about the course you’re applying to, step 3. what work experience do you have and what did you learn, step 4. what relevant skills do you have, step 5. what wider reading and studying have you done, step 6. do you take part in any relevant extracurricular activities, step 7. think ahead to any potential interviews, step 8. summarise why you are well-suited to the course, benefit from 1-to-1 support.

Your personal statement is essentially your sales pitch to your chosen universities. The goal is to tell them why you would be a great Economics student and how you’d benefit from taking your chosen course. It’s also your opportunity to not only tell them, but prove to them with examples and evidence that you would make a capable, passionate and committed Economics student.

Keep the overarching goal of your personal statement in mind as you write it and make sure that everything you say is supported by an action or example . Use the Point Evidence Explain (PEE) format throughout your personal statement.

Joe’s tip: While it’s important to showcase your personality and interests, make sure that every sentence has a purpose and relates back to that overarching goal. The bulk of your personal statement should be demonstrating how and why your experiences and skills would make you well-suited to a degree in Economics, not just a list of what you have done. Don’t waste valuable characters talking about hobbies or passions that are unrelated to your chosen career path – always keep it relevant.

Here at The Profs, we have experienced personal statement tutors who can guide you through crafting the perfect personal statement. Don’t waste time worrying or risk your future, just reach out .

Your personal statement must be between 1,000 and 4,000 characters long. It is best to use as many of the 4,000 characters (approximately 47 lines) as possible in order to showcase all of your best qualities and experience.

Joe’s tip: Your personal statement is part of your UCAS application as a whole, so the deadline for completing it is essentially the same as whichever UCAS deadline your application is due by (either mid-October for Oxbridge applications or end of January for other universities). However, schools often impose their own personal statement deadlines that are a lot earlier . They do this so that your teachers (and sometimes your head of sixth-form) have the time to read it over and ensure it’s up to scratch! If you feel like you are going to submit a poor-quality personal statement to meet this early deadline, speak to your school. It is almost always worth adding an additional week or redrafting if you feel that your statement is not reflective of your potential.

Note that all students applying to university for 2023, 2024 or 2025 will still be required to submit a UCAS personal statement as normal. However, from January 2025 onwards (October 2024, for Oxbridge applicants), there will be changes to the UCAS application process and students will no longer be required to write a personal statement. Instead, all applicants will answer a series of shorter, more tailored questions provided by UCAS.

A step-by-step guide to writing your personal statement

Once you’ve got the goal of your personal statement at the forefront of your mind, start thinking about why you want to study an Economics degree. Writing down exactly why you want to study Economics isn’t always easy. You might have simply always been most interested in data-based and mathematical subjects, or there might have been a greater motivation behind choosing it, such as a long-term career plan or a desire to understand the way the world works. Either way it’s important not to skip this step and really spend time pinpointing the ‘why’.

Your motivations for studying Economics should be included in the opening sentence or first paragraph of your personal statement. They should also form the basis of much of the rest of your statement, as you should always be tying in your motivations to your existing skills, experience and interests (remember to use PEE!).

If you establish your motivations early on in the writing process, this can also help you to develop your personal statement (i.e. what work experience (step 3) and additional reading (step 5) you should be doing). If you’ve already started using your initiative and planning your academic and personal life around the subject you’re passionate about, this demonstrates to universities that you are mature, driven and likely to succeed at university-level study.

Try to steer away from cliche introductions and catchphrases that may exaggerate or misrepresent your true motivations. Even if you did have a dramatic, life-defining moment in which you realised you wanted to study Economics at university, it can come across as insincere if you write it in your personal statement.

For instance, if you find yourself writing, “I’ve wanted to study Economics ever since I was a young child…” or “For as long as I can remember…” then take a moment to reconsider this. You don’t want to sound just like your peers. Really think about how you can make your personal statement represent you and stand out from other applicants.

Identifying a course for undergraduate study is not a trivial task. Decisions of this magnitude need a top-down approach. What is the end goal of your studies? Admissions teams look for this information in your personal statement and so it’s imperative that you do your research and identify a career path that appeals to you and matches your qualities.

Joe’s tip: Don’t forget to mention a career plan. Be specific about what motivates you professionally and use LinkedIn for career research. Talking about why you need this degree to pursue your career and how it will help you to land a specific job is always beneficial to any university application. However, this is especially the case for Economics which is more career-driven than traditional academic courses. Do your research and get as specific as you can. What institution or company do you want to work for, and what do you want to specialise in?

Showing a university that you already have a good idea of what job title you will apply for after graduation can really help you stand out from the crowd. For example: “After much career research, I have identified my dream role: an economics consultant (specialising in energy markets) at a boutique firm such as Frontier Economics.”

Demonstrating this career research – as well as an idea of your specialism – and name-dropping a specific firm all show that you are a serious and diligent candidate. Of course, you don’t have to stick to this career path, but showing that you have thought about your career is a huge plus.

Need any help? Ensure that you put your best foot forwards by reaching out to our experienced university admissions team . We can review your application and help you to improve it and maximise your chances of success.

Your Economics personal statement should be clearly targeted to the subject. It’s not enough to write a generic statement about why you are a great student; you need to explain why you would make a great Economics student in particular.

It’s important that you do plenty of research into the specifics of your chosen courses, including the modules you might cover. Then, think about how certain topics covered in these modules align with your motivations and long-term goals, and tie all of them together to create a strong, convincing narrative throughout.

Researching your course will not only make your statement more relevant but it will also aid you in making your decision whether or not to apply. Before you write your application you need to know why you chose this course from the many Economics courses out there!

It will help you to stand out if you study the first few modules of your chosen Economics course at your top-choice university. If you can refer to these concepts, and better yet, analyse them to demonstrate your comprehension, you will highlight that you are genuinely keen to expand your knowledge and already able to study at university level. At the end of the day, universities want students who are sincerely passionate about their discipline and will be “easy” students throughout their three or four years of study. So, any way to show that you’re keen and driven is encouraged.

Did you know that Economics courses can fall under either BA or BSc depending on where you apply? BA courses include the Economics courses taught at Oxford, Cambridge, and Durham, and BSc courses including the Economics courses taught at St Andrews, LSE and Brighton, with many other universities offering both BA and BSc Economics courses, including universities like the University of Warwick and King’s College London. All of the universities mentioned above score in the top 10 universities for Economics according to the Guardian (2024) . Generally speaking, BA courses are less mathematical and approach economics as more of a social science whilst BSc courses are more quantitative. That being said, BA courses typically require some mathematical competency. For instance, Durham university offers an Economics BA but its typical entry requirements are A*AA A levels, including Mathematics.

Joe’s tip: In the UK, you are only allowed to submit one personal statement that then gets sent to all of your university choices (up to five). The problem with this is that each of the courses at these universities will more than likely be slightly different, both by name (e.g. Economics and Management at Oxford versus Economics, Finance and Data Science at Imperial) and by their contents.

Consequently, unless specifically advised to do so, it’s best not to cite specific course names or modules. Instead, target common themes of these subjects to show you are well-researched while appealing to all of your university choices.

If you are targeting a course which is only available at one or a handful of universities (such as Politics, Philosophy and Economics (PPE) at Oxford) then see what the universities themselves advise. They may understand that your personal statement will be directed towards a broader course focus and take this into consideration when considering your application. For help on applying to particularly competitive Economics courses such as PPE, get in touch with our admissions team who can guide you through the process and triple your chances of success.

You should also research your course in the context of your university. What entices you to study Economics at this institution? What stands out about their Economics department? Perhaps you are curious about the research being pursued, the facilities available, or the opportunities that the university’s city and/or student societies offer. As already mentioned, you cannot address specific universities individually when it comes to your UCAS personal statement. However, you can certainly allude to your first and second choice’s specific characteristics and demonstrate alignment.

Unsure about anything? Chat to our expert Economics tutors who can help you improve your grades and/or craft the perfect university application.

Work experience and volunteering are an important part of your personal statement. It’s difficult to get real-life knowledge and experience of how the wider professional world works and the skills you may require in any other way. In addition, Economics is a competitive subject area and work experience can be a great way to help you stand out from other applicants.

Unlike subjects such as Medicine, which look for specific types of work experience, Economics is a social science that can lead to a broader range of careers, so admissions departments won’t necessarily be looking for any particular form of work experience. However, there are some experiences that may be more helpful than others.

Start by thinking about the types of skills that would be useful in an Economics degree, such as mathematical ability, problem-solving skills, and an understanding of global and local systems. Then, think about where you could develop these skills through work experience or volunteering. For example, work experience at an accounting firm might allow you to apply your mathematical skills to real-world situations, while working with your local charity might give you an insight into how the charity sector operates and an understanding of the wider systems at play.

Getting work experience is quite the feat, especially as a young student. The big 4 finance firms (KPMG, EY , PWC , and Deloitte ) typically offer well-established work experience programmes aimed at year 12 and 13 students but, as expected, these are highly competitive. You might be interested in large FMCG organisations, large pharmaceutical companies, and governmental agencies (e.g. the FCA). Ultimately, the best place to get further advice on obtaining work experience is your school but reputable websites such as RateMyPlacement are a good place to do some initial research!

Joe’s tip: Whatever work experience or volunteering you have, make sure that you don’t simply list it in your personal statement. Your chosen university will be looking for you to explain what you learned from your experience, what skills you developed, and how it shaped your interest in Economics.

You should also use your experiences as evidence to support the overarching narrative of your statement. For instance, if your motivation to study Economics is to enact policy change on a particular issue, then your work experience might be a placement with your local council or a charity that works on that issue, and this together supports your long-term goal of working for the UK government. Don’t forget, we’re here to help if you need any support.

Next, think about what skills you have that would make you a great fit for an Economics degree. It is particularly important for Economics applicants to have a good balance of skills from a range of subject areas. For example, it is not good enough to simply be very good at Mathematics; you’ll also need to show that you keep up to date with current affairs and are capable of writing a compelling essay.

Some skills admissions officers will be looking for in particular include:

Data analysis skills
Interpersonal skills and social awareness
Critical thinking skills
Strong mathematical ability
Problem-solving skills
Understanding of global and local systems
Essay-writing skills

Make sure that you not only highlight what skills you have in your personal statement, but also explain how you have developed them. For instance, has there been a particular work experience placement in which you had to use great communication skills in order to solve a problem? Perhaps you have entered an essay-writing competition and been recognised for your ability that way. All elements of your personal statement should now start becoming woven together to support your overarching goal.

Joe’s tip: Economics students are usually curious about the world around them. They’re inquisitive, have lots of questions that they want to know the answers to, and are capable thinkers. That’s why Oxford uses the TSA (Thinking Skills Assessment) as the admissions test for its Economics courses.

If you’re applying to Oxford, it is essential that you prepare for the TSA and aim for the highest possible score to prove the abilities you mention in your personal statement. Read our guide on preparing for the TSA for more tips. Even if your top-choice university does not require you to take the TSA you might want to take it anyway to maximise your chances of getting an offer – if you are choosing a top-tier, competitive university.

Excellent mathematical ability is a requirement for Economics courses and some Universities, such as the University of Bath, recommend you study GCE Advanced Mathematics AND further Mathematics or complete an additional Mathematics test such as STEP, MAT or TMUA. Please check the entry requirements for your chosen course on your university website. Here at the Profs, we can help you gain confidence and flourish in your mathematical ability ahead of your exams. Get in touch with us to arrange tailor-made tuition for you.

Need any guidance? We have top-tier tutors in TSA , STEP , MAT , TMUA , Maths , Further Maths and Economics on hand to help.

Economics departments value students who have completed wider reading and have an understanding of the world beyond the school curriculum. In addition, most schools do not offer Economics as an A level, so it’s important that you develop your knowledge and give evidence of your interest in the subject outside of school.

There are several ways you can do this. Firstly, you can read a range of Economics books. There are many popular books that can give you a solid understanding of economic theory and popular thought upon which to build at university-level. Some books you might have heard of include: ‘Freakonomics’, ‘the Undercover Economist’, ‘the Armchair Economist’, and ‘the Bottom Billion’. While these are certainly useful to read and are a good starting point, they will be common among applicants’ personal statements and, unless you go into great detail and show a critical approach, they are less likely to make you stand out.

Consider reading books that are a little less common but still offer insightful perspectives and incorporate economic theory, such as:

Abhijit Banerjee and Esther Duflo. 2019. Good Economics for Hard Times -2019 Nobel Prize for Economics winners.
Richard Thaler. 2009. Nudge -2017 Nobel Prize for Economics winner writes about how people make decisions and how economists can incentivise people to make better ones.
George A. Akerlof and Robert Shiller. 2014. Mastering Metrics -Co-authored by Nobel prize laureate Robert Schiller, this book takes you through the basics of econometric methods.
George A. Akerlof and Robert Shiller. 2010. Animal Spirits – Explores the link between Psychology and Economics.
Paul Newbold, William Carlson, and Betty Thorne. 2012. Statistics for Business and Economics
Knut Sydsæter, Peter Hammond, Arne Strøm and Andrés Carvajal. 2021. Essential Mathematics for Economic Analysis. 6th Edition

Your priority should be to go beyond your school syllabus and read at university level, whilst also finding very specific, niche, and obscure texts that your peers will not choose. Ideally, we suggest reading multiple books over the course of the year leading up to writing your personal statement (throughout your A levels or equivalent). Then, once you’ve developed your wider subject knowledge, pick one or two key texts to go into greater detail about in your statement. If you’re short on time, focus on two to three books that particularly interest you and aim to read and reference only those. You can always watch YouTube videos on the books or listen to them as audiobooks if you’re running out of time, too.

Joe’s tip: Ensure that you are identifying how the book or chapter you are referencing fuelled your interest in Economics, or what questions it raised in your mind that a degree in Economics would help to answer. Picking out one or two specific issues and/or concepts that had an impact on you and elaborating on those is the best way to avoid listing and ensure you’re offering a critical perspective. For example, you could include relevant subject terms you have learnt, poignant quotes, or insightful analysis or a particular passage. Doing this will ensure that you don’t have to explicitly point out that you are good at the subject or that you really want to study it because it will be clear from your writing.

Staying up to date and learning about Economics doesn’t just have to be via books. Consuming a range of documentaries, podcasts and other media can enhance your learning and help you to expand your interests and knowledge. Documentaries such as Inside Job , which takes a look at the 2008 financial crisis, and The True Cost , which delves into the darker side of the global economy, are great starting points. For those who use spotify, The Economist podcast offers great insight.

If you’re at all unsure about what materials to follow and refer to, or how to evaluate them in your personal statement, let us know and we can walk you through the process.

Joe’s tip: Whatever you do , do not lie in your personal statement, this includes your extra reading and studying. You could be asked questions on anything you write in your personal statement in your interview, and nothing will put off a university more than getting caught in a lie.

Instead, if you’re running out of time, keep things simple. Make a list of the key texts you want to know more about or the documentaries you’d like to watch, then work your way through. It’s better to include a small amount of good-quality information than it is to include a lot of irrelevant or untrue information.

The bottom line is that showing an interest in Economics requires time and effort alongside your studies. Starting to implement extra reading alongside your studies should be done at an early stage. When you start university you are expected to do extra reading, so this is a good skill to start developing now!

Once you’ve demonstrated your motivations for studying your chosen course and the relevant skills and work experience you have, you can include a line or two about any other extracurricular activities you feel are relevant. For example, if you attend any after-school clubs, such as a Maths club or a Public Speaking club, or have any hobbies that you have excelled in, this is the time to include them.

Anything that further proves your aptitude for Maths and/or Economics is great to mention e.g. tutoring younger students in Maths, completing the UK Maths Challenge or running an entrepreneurial project. Similarly, you should highlight any activities that taught you relevant transferable skills.

However, be aware that you only have so many words in your personal statement, so everything you include should be impactful and support your point that you’d be an excellent Economics student. Your constant topic should be Economics. When it comes to extracurricular activities and hobbies, unless you have competed at national level or won an award, really consider if it would be beneficial to include it in your personal statement. Only include it if you have characters to spare!

Our expert university admissions team can offer advice on gaining the right extracurricular experience as well as how to apply it in your personal statement.

Some competitive universities (such as Oxford and Cambridge ) routinely interview candidates as part of the application process. Your UCAS personal statement will be an important deciding factor in whether you get offered an interview with your chosen university. However, if you’re invited to attend a panel interview, your statement may also be used as the basis for questions to ask you and topics to discuss.

If you know there is a chance that you will be asked to attend an interview, make sure to consider this when writing your personal statement. Look at each sentence you have written in your statement and think about what questions you could be asked about at your interview. If you are able to expand on the sentence or talk more about the topic then keep the sentence in; if you’re unable to go into any more depth, consider removing it or reframing it in a way that will make it easier for you in the interview.

Throughout your personal statement, you should also show that you are up to date with current affairs to ensure you are able to have topical discussions in your interview. Ensure you follow the news and read relevant news stories from rigorous and reliable sources such as The Economist, The Financial Times, and The Guardian. You could be asked about how Brexit or COVID-19 has affected the economy. Or you might be asked for your opinion on the cost of living crisis, or future society being cashless. So, be prepared and also ensure that you have a few topics on hand that you can volunteer yourself. If you have formed an opinion on any articles you’ve read, you could also make a note and include these in your personal statement as evidence of your own independent thinking.

You can look up previous interview questions from the university online, this will tell you to expect some abstract questions but be aware it’s highly unlikely that you’ll be asked that exact question. Your best bet for interview preparation is to make sure you have done the extra reading, stayed up to date with current affairs, and know your personal statement!

Be sure to check out our previous article on preparing for an online interview, our founder’s article on the Kira Talent Prep Interview, and our video on how to smash a university interview.

You don’t want to fall at the last hurdle. Your interview performance is crucial! Reach out to our experienced interview coaches for expert guidance.

The final paragraph of your Economics personal statement should summarise everything you’ve described throughout. You should conclude by stating why you think you’d be well-suited to an Economics course and why you would make a great addition to the university’s student body. You do not need to include any new examples or information here. Rather, you should summarise the key points you’ve already made and tie them back to the overarching goal and the motivations you established at the start of your statement.

Your personal statement is an important part of your Economics application, so it’s a good idea to get professional help to make it as compelling as possible. Our personal statement tutors can help you by:

Identifying where you need support in a free discovery call:

Our experts offer a free discovery call to understand your goals and needs. From this, our experienced tutors will formulate a plan of action, including helping you build your personal statement from scratch (or supporting you if you’ve already started!) and working with you on a regular, one-to-one basis.

Putting together a plan:

You should plan every stage of your university application – including your personal statement. Which universities and courses you’re applying to, what experience you have, and other contextual factors will all impact how and what you should write in your personal statement. Your statement also impacts other areas of your application which you’ll need to plan for, including admissions tests and interviews, all of which our admissions tutors can help you prepare and plan for.

Helping you develop your skills and academic profile:

A great personal statement relies on great skills and experience. Our tutors can advise you on what you can do to help build your academic profile for an Economics degree and ensure that your personal statement stands out for all the right reasons.

Giving a statement of review on your personal statement:

Once you’re in touch with one of our personal statement tutors, you can submit a draft for review. Based on many years of experience helping students refine their personal statements and get into top universities for Economics, our experts will provide detailed feedback with action points advising you on how to improve it. Nobody, not even a tutor, is allowed to make direct changes to your personal statement, and it is ultimately up to you what you write and whether you make changes based on any feedback you receive.

Proofreading for grammar:

Though it might seem obvious, proofreading for grammar before you submit your personal statement is critical to your application’s success. Grammatical mistakes – even small ones – could detract from the contents of your statement and prevent assessors from focusing on all of the fantastic skills and work experience you have. Use a document that has a spelling and grammar checker incorporated in it to avoid mistakes, and always ask a tutor, friend or family member to proofread it before submitting.

Wider application support:

Our team can also help you with your wider university application , including improving your grades, preparing for any admissions tests, and providing interview training. Get in touch with us to start your admissions tutoring today.

Also, don’t forget that we have top-tier tutors in university admissions , TSA , STEP , MAT , TMUA , Maths , Further Maths and Economics on hand to help. No matter what you need help with, we’ve got you. Our experience in offering excellent and bespoke services is precisely why we’ve got a 95% success rate in getting students offers from their first and second-choice universities! Come join the winning team.

Your personal statement is your way of introducing yourself to your chosen university. You will have limited characters so it needs to be concise whilst also conveying your positive attributes. This makes personal statement writing a momentous task for many applicants.

However, with the right amount of skill, effort and time dedicated to your personal statement, you can win over admissions teams and get your offer!

Our expert help is always available. Our advice is to choose your course carefully, start early, and accept the help that is offered to you. Should you seek further assistance with writing your Economics personal statement, The Profs offers dedicated professional tutors. We are experts in university admissions and personal statement writing. Just get in touch !

What should I include in my personal statement as a mature student?

The term ‘mature student’ usually refers to someone who is going to university after spending a period of time out of full-time education. Most mature students will have previous educational experience and qualifications, so if this is the case, you can talk about what you learnt, which areas you excelled in, and why you have chosen to return to education.

If you have any large or unexplained gaps in your education or professional history, make sure you also address these in your personal statement. Your university will be keen to know that your chosen degree is not just a back-up, but that you are serious and committed, and that it is part of your academic or career plan.

How long should my personal statement be?

Will i need to do an additional mathematics test to support my application.

You must thoroughly check the entry requirements for your chosen course before you apply. Additional maths tests involve STEP , MAT and TMUA . Anyone can take these tests so long as they have access and permission from a registered test centre, more information can be found in our article about Cambridge Admissions Tests . All Economics undergraduate courses require you to demonstrate a good level of mathematical ability and while the university might not explicitly stipulate it as a requirement, taking Mathematics at an Advanced level (A-level, IB, SQA Highers etc) is most definitely desired.

In cases where you have not studied mathematics in your higher education, but you are confident in your mathematical ability you may wish to take an additional test (MAT, STEP or TMUA) to showcase this. Other instances where an additional test could be useful are if you are a mature student who has taken a break from the education system, or you have a unique educational background (for instance did not take GCSE maths or an equivalent well-recognised qualification).

Do I need to study Further maths?

In short, no. However, showcasing a high level of mathematical ability is a requirement for most economics courses. Further Maths is not an essential requirement for an Economics undergraduate degree but it can be seen as desirable.

Is work experience essential to my application?

Work experience is a great way to develop skills relevant to your application described in Step 4 above. Many work placements directly relating to economics, finance and accounting will be competitive but it’s definitely worth trying. Soft skills such as problem-solving and interpersonal skills can be linked to many examples of real-world experience. If you cannot attain work experience directly relating to economics, try broadening your search and/or engaging in a relevant extra-curricular activity such as writing articles for your school or joining a maths club.

Browse more “ University Applications ” related blogs:

Emily Watson

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How to Write an Economics Personal Statement

Many students are unsure of how to write an Economics personal statement as they haven’t written one before. Starting your personal statement can be daunting, but you are not alone! We are here to give some pointers for students wishing to study Economics at university, particularly those applying to UK universities via UCAS. We have separated the process into three stages – research, writing and editing.

What to Research for your Economics Personal Statement

What to include in your economics personal statement, how to edit your economics personal statement, research your economics courses.

Research is vital for writing your Economics personal statement. First, you should have good knowledge of the Economics courses you are applying to. How does the university describe the Economics course (e.g. how Mathematical is it?). What content does the course include? Will your interested area in Economics be taught in the course?

Research Advice on How to Write an Economics Personal Statement

Second, you may want to read Economics personal statement examples from past applicants. This will give you some information what a good Economics personal statement includes, and what you should aim for. It is also good to look up any advice on writing personal statements. For example, this article you are reading! LSE also provides some general advice to writing any personal statement.

Research Which Aspect of Economics you are Interested in

Finally, you should research into the topic in Economics that you are interested in, which we will discuss more below. Google Scholar is a great way of searching for academic papers/essays regarding a specific Economics topic you want to learn more about. Another option may be to look through any suggested texts/reading for the university course you are applying to – does any topic in particular catch your eye? Finally, our article on Economics books to read for your personal statement may also help.

An Economics personal statement consist of many different components, and we explain the reason behind including each one in the sections below.

Area of Interest in Economics

In your statement, more than half of it should be used to show academic interest for a key topic/theme in Economics. The topic can be an extension to A-Level/IB syllabus that is slightly more advanced, or it can be something that will be explored further at degree level. This shows your understanding of Economics, and is a good opportunity to impress the admissions tutor with your enthusiasm. Remember – if you are interested in studying Economics, you should be self-motivated to learn more than what you are required to! Ideally, the topic/theme should also be tied to your personal reason to study the subject. This will make your interest more genuine, consistent and convincing. Have a specific topic in mind? Ask us about it !

Your Opinion on Economics

It is all well and good to explain what aspect of Economics you are interested in. However, that is not enough – admissions tutors would want to know your opinion on the issue/concept you discussed. They want to understand if have processed and understood what you have learnt, rather than just regurgitating it. It also demonstrates your ability to think and evaluate about a topic in Economics critically, showing independence of thought.

Motivation to Study Economics

Of course, you need to specify why you wish to study your subject in your statement. It is important to figure out a good reason here that is relevant to you personally, in order to stand out. Avoid generic reasons like ‘I wish to study Economics to understand the world better’ or ‘I wish to study Economics as my father works in finance’. Think deeper – what is it that is uniquely different about your environment, or what you experienced, that causes you to be interested about Economics?

Interest in Mathematics

For most, if not all Economics courses, there is a large amount of Mathematics involved. This is because Economics pursues a more scientific approach via Mathematical Modelling and Econometrics at higher levels of study. Hence, it is important for you to demonstrate your interest in Mathematics, and the use of it within Economics. You can reduce emphasis in this component if the course you are applying for involves less Mathematical modules.

Extra-curricular activities

It is important to include some extra-curricular activities relating to Economics, as it demonstrates your interest in the subject outside of your studies. Ideally this can relate to your area of interest in Economics and your motivation to study the subject. The activities can range from anything such as reading books on Economics , attending Economics events, to having a related work experience. If you want to include any experiences not relevant to Economics to show what you are like as a person, that is certainly acceptable, but should be less than 25% of your statement. Ask our Economics admissions advisor a free question below if you would like to know more about the various activities, and how to write about them.

Please enable JavaScript in your browser to complete this form. Ask Wilfred a Free Question on GCE, IB or GCSE Economics * Email * We will answer your question by email and send you relevant notes/materials for your Economics course. Email Ask

After a first draft, it is important for you to get someone to review your Economics personal statement. This can help give you an objective perspective on what others think. Show it to your careers advisor at school, your Economics teacher, your Economics classmates, maybe even parents/siblings that have gone through a similar process. Of course, those who have more exposure to the subject may be a bit more helpful, like someone who applied for an Economics degree a few years ago. If you need professional, personalized advice on your Economics personal statement, you can reach out to our qualified admissions advisor for suggestions. After receiving feedback, you can edit your personal statement accordingly, taking into account each reader’s unique perspectives. You will then have to compare the suggestions and decide which parts/sentences to keep, change or remove. After many changes/edits your personal statement will finally be concise, unique and polished enough for submission!

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Traditional Subjects

Aptitude tests, higher learning, the perfect economics personal statement.

Undergraduate Economics courses are popular because an Economics degree is a recognised entry route to highly-paid professions such as banking, accountancy and consulting. University admissions tutors are therefore spoilt for choice in terms of applications from high-achieving students with spotless academic records and superb grade predictions. None of these criteria are therefore sufficient by themselves to differentiate candidates sufficiently to guarantee an offer. This is the bad news. The good news is that many of these top-class students write sub-standard personal statements and put themselves out of contention. The student with good grades and an exceptional personal statement can thus gain a competitive edge in the race for an undergraduate place at university.

So what makes for the perfect personal statement in Economics? The simple first answer to this question is genuineness and relevance. Very few A-level or IB students read Economics in more depth than their course textbooks and perhaps a few newspaper articles given to them by their teachers. They then proceed to list books, journals and magazines related to Economics which they claim to read regularly. Moreover, to make their claims sound genuine, they embellish them with elaborate discussions and opinions on economic issues which often have no theoretical relevance at all. It’s all too obvious. Students who have not read widely would be better advised to select one article, read it and comment on it intelligently. Otherwise, they should begin a programme of wider reading a year or more before writing their statement. Even when they do this, they should find a single issue to discuss concisely with references to the literature they have explored. The candidate should convey an excitement and curiosity in discovering and discussing an issue in Economics applied to a current aspect of life. Examples of relevant issues are poverty in developed economies, the instability of financial markets and the economic impacts of migration but any issue, no matter how small, can be turned into a vehicle to convey the genuine enthusiasm of the candidate for Economics.

The second essential quality in an Economics personal statement is evidence of initiative and forward planning in the field. If the student has already started the process of organising internships or other work experience related to Economics, this indicates, determination and maturity. Admissions tutors hardly expect 17-year olds to have completed internships with Morgan Stanley before starting their personal statements but the process of networking can easily be started by attending seminars on Investment Management and Economics run by top universities such as UCL. In addition, attending public lectures on Economics at the LSE and talking to other attendees afterwards is also a great way of building a network and a fabulous indication to admissions tutors that the student is not going to be just a book-reader and a repeater of received wisdom. Learning in Economics consists of discussion, debate and testing of opinions. If a candidate discusses their impressions of a seminar and is able to convey the reasons for agreeing or disagreeing with the issues at hand, he or she will be effective in tutorials and facilitate the learning of other students. Economics teachers at top universities generally enjoy engaging with curious, expressive students and the more a student is able to advertise themselves as such the better.

Having said all this, Economics at university is all about mathematics and statistical analysis these days. This may change with time as assumptions of rationality and maximisation are abandoned but, for the time being, students without a strong mathematical or statistics background when entering university will be at a distinct disadvantage unless they are able to pick up mathematical concepts very quickly. Given this fact, an Economics personal statement should contain a reference to the application of mathematics to Economics. Preferably, the candidate will have extended his or her learning of Mathematics to include some simple undergraduate topics such as the equations of demand curves or Lagrangian Multipliers. At the very least, such a paragraph indicates that the candidate is aware of the central importance of Mathematics to economic analysis at the moment.

Of course, most students apply to more than one university for Economics and may be wondering if any special provision needs to be made for this. In fact, many universities are more concerned with the aptitude of students for the Subject rather than their reasons for choosing particular universities. However, if a student wishes to mention the reasons for choosing particular institutions, it may be best to list a set of qualities which are common to his or her choices such as individual attention to student learning, good sports facilities, wide range of societies or good links to the financial services industry etc. It is both a strength and a weakness of the UCAS system that one application covers all universities and so students should not be too concerned about differentiating between universities on their application.

A more important point is perhaps the differentiation between courses when a student is applying for say Accounting and Finance as well as Economics at the same time. This form of differentiation is more difficult but cannot be ignored. One paragraph clearly explaining a student’s understanding of the differences in content between the two courses as well as the similarities should suffice but this does make the rest of the personal statement more complicated. A student would have to convey clearly their preference for both subjects as well as their aptitude in each rather than trying to write generically about both.

In all, after completing the personal statement, a student should be able to look back and see that he or she has expressed why they are enjoying their current studies, what they have learned from professionals in the field, what economic issues concern them and what practical steps they have taken in terms of gaining future employment in the field. As long as these points emerge clearly from reading the statement it can be said to be close to perfect.

For help or advice with your Economics personal statement see these pages:

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Introductions to Economics

Freakonomics , Steven D. Levitt and Stephen J. Dubner In Freakonomics , authors Steven D. Levitt and Stephen J. Dubner unpack how people respond to incentives by investigating seemingly non-economic subjects like how parents pick names for their children and even how the legalization of abortion could be responsible for a drop in crime. Provocative and entertaining, Freakonomics is a crash course in the populist application of economics.
The Armchair Economist: Economics and Everyday Life , Steven E. Landsburg Steven Landsburg argues that economics can be boiled down to four words: people respond to incentives. The book gives readers a layman's introduction to economics through incentives and their implications, good and bad, and how all aspects of our life are influenced by them. The Armchair Economist is also a good introduction to the so-called “Chicago school” of economics, of which Landsburg is himself a member.
Naked Economics: Undressing the Dismal Science , Charles Wheelan If you are looking for a refresher in economics or an introduction to the broad strokes of the subject, Naked Economics is for you. Charles Wheelan starts with one basic premise, that people seek to maximize their utility, and expands into a larger exploration of free market theory and its implications.
Misbehaving: The Making of Behavioral Economics , Richard H. Thaler In Misbehaving , Richard Thaler examines how the “rational actor” assumption often used in economic theory misunderstands how humans think and act. The book focuses on how human misbehavior has consequences that appear no matter how large or small a decision appears to be. Misbehaving is an impressive account of the major development in behavioral economics over the last half-century.

Fundamental Economics Texts

Capitalism and Freedom , Milton Friedman Milton Friedman's iconic work argues that economic freedom is essential to a free and liberal society. Published in 1962, many of Friedman's theories presented in Capitalism and Freedom have since been adopted worldwide. Friedman’s work ranks among the top 100 non-fiction books written in English in the last century, according to Time Magazine.
The Wealth of Nations , Adam Smith One of the most essential economics texts, The Wealth of Nations forms the underpinning of much of modern economic theory. For many students of economics, Wealth of Nations is the first book assigned in class, but rereading this fundamental text can provide a deeper understanding of both the foundations of economics and its transformation over the last 300 years.
The Affluent Society , John Kenneth Galbraith Affluent Society offers a contradictory view of the “conventional wisdom” underpinning modern economic theories and principles. John Galbraith argues in his iconic work the conventional wisdom of economics is fundamentally flawed because the theory of economics came into being in the late eighteenth and early nineteenth centuries and is poorly suited to explain the mechanisms of the affluent post-WW2 U.S. economy.

Field-Specific Economics Books

The Bottom Billion: Why the Poorest Countries are Failing and What Can Be Done About It , Paul Collier If your interest is working as an economist in international development or with international aid agencies, The Bottom Billion is a must read. Paul Collier challenges the notion that the best way to help the poor in struggling economies is with a cash infusion. Rather, Collier argues, a more hands-on approach is the solution.
The Travels of a T-Shirt in a Global Economy , Pietra Rivoli For a look at how globalization and free trade impact the cost of goods, look no further than The Travels of a T-Shirt in a Global Economy . Pietra Rivoli's book provides a way to see globalization, a deeply complicated issue, through the production of a single t-shirt. For economics students interested in working in the fields of international trade or monetary policy, Travels of a T-Shirt is a must-read.
Plunder and Blunder: The Rise and Fall of the Bubble Economy , Dean Baker Plunder and Blunder offers a look at the causes of the housing bubble that precipitated the 2001 and 2007 market crashes. Dean Baker analyzes the causes and effects of the crash, why people ignored the signs of an oncoming economic disaster and what can be done to prevent future financial bubbles.

You can develop quite an impressive understanding of economics on your own, but if you want to develop professional skills that you can apply in the real world, American University can help. Our online Master’s in Economics with a specialization in applied economics gives you all the skills needed to make an impact as an economist.

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Must read books for economics students

If you’re curious about the world around us and want to know more about the production, distribution and consumption of wealth, you may be thinking about studying economics.

But before you enrol on an economics course to learn more, it’s a good idea to get a head start on your reading. Not only will this help you decide whether economics is a subject you really want to take, but if it is, you’ll have an advantage over your peers from day one.

From pocket-sized overviews to thousand-page tomes, there are countless books on economic theory and economic history to suit all academic abilities and curiosity levels. But if you’re struggling to know where to begin, this article on the best economics books might help.

What are the top books for economics students?

Some of the best books on economics include ‘The Armchair Economist’ by Steven E. Landsburg, Michael Lewis’ ‘The Big Short’ and ‘The Undercover Economist’ by Tim Harford.

Books like ‘Economics: A Very Short Introduction’ by Partha Dasgupta and Levitt and Dubner’s ‘Freakonomics’ are ideal for beginners, while one of the best-known economics books, ‘An Enquiry into the Nature and Causes of the Wealth of Nations’ by Adam Smith, delves into the subject in much more detail.

Read on for our full list of must-read books for people studying economics.

Ten of the best economics books for students

1. ‘an enquiry into the nature and causes of the wealth of nations’ by adam smith.

It may have been written way back in 1776, but Smith’s classic is still widely read and held in high regard today.

As the very first scientific argument for the principles of economics, his book paved the way for all subsequent economic theory – and it continues to be recommended by many economists, historians and entrepreneurs.

While it may not be the easiest read, it’s the go-to book for students who want to understand the early theories relating to the basic mechanics of economics.

By giving theories of capital accumulation, secular change and growth and breaking down the interactions among labour, stocks, commodities, trade and taxes, Smith provides insights into 18th-century economics that remain influential in modern economics.

2. ‘Economics: A Very Short Introduction’ by Partha Dasgupta

As the name suggests, this book is ideal for those who are just looking for a brief introduction to economics.

Much lighter than Smith’s ‘The Wealth of Nations’, Dasgupta’s book is more accessible, describing the lives of two children who live completely different lives in very different parts of the world – the American Midwest and Ethiopia.

Combining examples from everyday life with a global approach, he provides an accessible introduction to key economic concepts, such as national policies, individual choices, equity, sustainability, efficiency, development, markets, property rights and public goods.

This pocket-sized economics book forms part of an Oxford University Press series called ‘The Very Short Introductions’, which aims to make challenging, yet interesting topics highly readable. Some of the other ‘Very Short’ economics books you might find useful are: ‘Microeconomics’ by Avinash Dixit and Robert C. Allen’s ‘Global Economic History’.

3. ‘The Big Short: Inside the Doomsday Machine’ by Michael Lewis

You may have seen the film adaptation of this book, which was met with critical acclaim when it was released at the end of 2015. Starring Christian Bale, Ryan Gosling and Brad Pitt, the film won the Academy Award for Best Adapted Screenplay and was also nominated for the Academy Award for Best Picture.

This follows on from the success of the book, which spent 28 weeks on The New York Times Best Sellers list, was shortlisted for the 2010 Financial Times Business Book of the Year Award and received the 2011 Robert E. Kennedy Center for Justice and Human Rights Book Award.

‘The Big Short’ is about the build-up of the United States housing bubble during the 2000s. It describes how several individuals, who believed the housing bubble was going to burst, bet against the market and ended up profiting from the financial crisis of 2007-08, making millions when the market crashed.

4. ‘The Reckoning: Financial Accountability and the Rise and Fall of Nations’ by Jacob Soll

In this book, historian and winner of the MacArthur Foundation’s ‘Genius Grant’, Jacob Soll, charts the development of economics from the dawn of accountancy – with a focus on Western finance.

Rather than giving a technical historical account, it’s more about the social and political side of things, meaning it’s entertaining and accessible for casual readers, while still being of use to scholars and industry professionals.

He writes about the role accounting plays in global affairs, covering periods like the Italian Renaissance, the French Revolution and the financial crisis of 2007-08.

5. ‘Freakonomics: A Rogue Economist Explores the Hidden Side of Everything’ by Steven D. Levitt and Stephen J. Dubner

Another one to read if you’re still unsure as to whether economics is for you, ‘Freakonomics’ is amusing, while inspiring you to see the world through an economic lens.

A controversial New York Times Best Seller, it’s sold more than four million copies, making it one of the most popular economics books of all time.

It tells the stories of drug dealers, real estate agents, and covers issues such as abortion and parenting, exploring why people do what they do and how their actions have an impact on the world around them.

The authors’ intent is to encourage readers to consider the data below the surface and look beyond what they’ve been brought up to believe is true about the world around them.

Like ‘The Big Short’, it’s been made into a film, thanks to its relatability with data, human behaviour and lack of business terminology.

6. ‘The Undercover Economist’ by Tim Harford

If you’ve ever wondered why the gap between the rich and the poor is so great, then this book is for you. It reveals how instrumental economics is in our lives and will help you to understand the world around you slightly better.

Relatable and engaging, Harford highlights the relevancy of economics in everyday life, from buying a cup of coffee to sitting in a traffic jam. He exposes coffee shops, supermarkets and airlines from all over the world for the ways in which they convince us to part with our money.

Covering a wide range of economic concepts, such as limited resources, market power, market failure and inside information, this book sheds light on how what’s going on in different industries can shape our everyday lives – without us even realising it.

7. ‘The Armchair Economist: Economics and Everyday Life’ by Steven E. Landsburg

Again, this book explains the economics of everyday life in a relatable and amusing way, making it another one of the must-reads for those who want to study economics.

It goes further into the reasoning why certain things are happening in our day-to-day lives, yet manages to remain easily digestible.

Landsburg highlights the laws of human behaviour, explaining why corporations give failed executives huge pensions and why concert promoters increase ticket prices even when they know the gig will sell out months in advance.

Some of the other issues he covers include why cinema popcorn is so expensive and why drivers of safer cars have more crashes. The average person may find this fact surprising, but he explains how airbags cause accidents because drivers who believe they have safer cars take more risks. Economists understand that this is because people respond to incentives.

8. ‘Doughnut Economics: Seven Ways to Think Like a 21st Century Economist’ by Kate Raworth

If you feel despairing about the world and how economics has failed to play its part, then Oxford academic Raworth might help you to feel a bit more optimistic.

While she acknowledges that mainstream economics, and its outdated theories, have permitted a world in which the rich get richer while the poor get poorer, she sets out a roadmap for how things can be rectified.

Breaking down what really makes human-beings tick, Raworth highlights the far-reaching implications of ignoring the role of energy and nature’s resources.

Ambitious and radical, this book reframes what economics could be to a new generation of learners.

9. ‘Good Economics for Hard Times’ by Abhijit V. Banerjee and Esther Duflo

Imploring readers to end polarisation and make informed decisions based on data in order to combat the challenges faced by the world we live in, Nobel Prize-winning economists Banerjee and Duflo upend many traditionally-held thoughts, covering subjects like inequality, immigration, climate change and slowing growth.

As well as covering economic efficiency, some of the other topics they tackle include bigotry, extreme political rhetoric and the fluidity and logic of diverse preferences.

The authors demonstrate how we could have the answers to the problems we so often ignore due to our ideologies. They encourage readers to think from a new perspective, which considers the needs of the individual as well as the good of the whole, in appropriate proportions.

Building on cutting-edge research in economics and years of exploring solutions for how to alleviate extreme poverty, their book makes a convincing case for a society built on respect and compassion.

10. ‘23 Things They Don’t Tell You About Capitalism’ by Ha-Joon Chang

Chang’s revelatory book identifies some of the biggest myths in society today and turns them on their head, showing us an alternative view of the world.

Some of the concepts he puts forward are that there’s no such thing as a “free” market, poor countries are more entrepreneurial than rich ones, globalisation isn’t making the world richer and higher-paid managers don’t produce better results. He also explains how we don’t live in a digital world, because the washing machine has changed lives more than the internet.

Note that this isn’t an anti-capitalist text, though, with Chang himself stating at the beginning of the book that he believes “capitalism is still the best economic system that humanity has invented.”

Whether you want to dip your toes into the subject before you decide to enrol on a course, or you’ve always known you wanted to be an economics student, there are countless books on economic theories to choose from.

From brief introductions to in-depth volumes, you might feel overwhelmed by the amount of reading material available, but we hope our list of top ten books on economic thought provides you with a good starting point.

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Successful Personal Statement For Economics & Management At Oxford

Last Updated: 22nd April 2020

Author: Adi Sen

Welcome to our popular Personal Statement series where we present a successful Personal Statement, and our Oxbridge Tutors provide their feedback on it.

Today, we are looking through an Economics and Managment applicant’s Personal Statement that helped secure a place at Oxford University. The Economics and Management Course at Oxford examines issues central to the world we live in: namely how the economy and organisations function, and how resources are allocated and coordinated to achieve the organisation’s objectives.

Read on to see how this candidate managed to navigate the many disciplines of E&M.

Here’s a breakdown of the Personal Statement:

SUCCESSFUL?

The universities this candidate applied to were the following:

The World’s First Oxbridge Preparatory School

Economics and Management Personal Statement

Economics is the study of now. I view it as the study of the psychology of the people who dictate our lives. The world around us is shaped by the fundamental concept of supply and demand, wants and needs, goods and services. What grips me is that everything I have studied I can apply to real life. Discussions about inflation, for example, are so applicable since its current status is active in the world of pricing; the price of a Big Mac and “Burgernomics” is something to which I can relate from my travels.

The statistical aspect of economic analysis is closely linked to my interest in Mathematics, thus I will take an Econometric route on option modules. This scientific approach to what is otherwise a field-based solely on individual theories and concepts interests me, as I find quantitative analysis much more accurate and reliable than qualitative theories. As an example, I relish analysing more Econometric models on the A-level Course: like Profit Maximisation calculations.

Despite this, Economics intertwines both Maths and Philosophy on a regular basis. I recently read an article from the Guardian by George Monbiot, which discussed the cost-benefit analysis model and whether nature could be quantified as a tangible asset, and how this would benefit neo-liberals in their perpetual quest for profit. This is just an example of how Econometric analysis does not always deliver such verisimilitude where the figures given are ambiguous. This is what is unique about Economics: there is no right answer to the question ‘Is there a right answer?’ The concept of there being methods of analysing the psychology of and nature behind the way that the interface between consumers and producers operates seems to exceed all other subjects in terms of interest.

I find it peculiar that a subject that has such a ubiquitous undercurrent in our society is so undefined and obscure; it is undoubtedly this which draws me to it. Consequently, I strive to keep up with Economics in the modern world by reading the “I” and “Guardian” newspapers, and “The Economist” magazine regularly. For wider background reading I have read Marx’s “Communist Manifesto”, Tim Hartford’s “The Undercover Economist” and “Too Big To Fail” by Andrew Ross Sorkin.

Sorkin’s book provided a gripping, in-depth insight into the world of investment banking and entrepreneurship – I finished the book in a matter of days. His book has inspired me to enter the investment sector. Upon graduation I would like to become an investment banker or negotiator, hence I am in the process of trying to arrange some work experience with the London Metal Exchange.

I completed a programme of work experience with Linden Homes this summer, through the Career Academy Programme on which I am enrolled. It was a six-week internship during which I gained a firm understanding of a construction company’s place within the national economy. I enjoyed spending valuable time in a variety of departments within the firm. I also have work experience planned in Belgium in 2013.

Additionally, I participate in a multitude of extracurricular activities. My team and I finished second in the national UMPH Business Competition; in Year 11 my team set the school record for the Enterprise Day Challenge and for three consecutive years my team won the Grimsby Inter-School Quiz without loss. Furthermore, I am part of both the Franklin College Debating Team and the weekly “Blue Sky Club”, where students meet to discuss current affairs.

Recently, a particular subject of interest has been the US election. We frequently discuss the debates and the candidates, covering subjects like their political viewpoints and how it will affect both our lives and those of the American public – plus the potential Economic ramifications of the possible outcomes. With a genuine zeal for the subject and an ability to relate my studies to the real world, I am convinced that I will thoroughly thrive at degree level Economics.

For more inspiration, take a look through our other successful Personal Statement a nalysis articles:

Good Points Of The Personal Statement

The student gives a good insight into their academic interests and what’s inspired them to develop over time. They also demonstrate a passion for the subject, not only by stating their interest in it but by further explaining what interests them and why they would make a good candidate to study it at university. The student is already accomplished and explains well what they’ve gained from their various extra-curricular activities.

Bad Points Of The Personal Statement

The writing is weak and, at points, unnatural. The forced interjections of examples and unusual adjectives make it read like a student attempting to write a formal and formulaic exam essay. They would do better to write in their usual style, even if it is somewhat informal; this will allow them to better express themselves and they will come across as more interesting to those reading it. More importantly than this, however, at times, the student fails to keep up their otherwise good level of detail, and the writing becomes list-like.

This is particularly prominent when they discuss books they’ve read to develop their understanding of economics. Although they expand on one of these, they do so in little detail. Interviewers are unlikely to be impressed by simply mentioning that you’ve read a book – any student applying for degree-level economics is able to read The Communist Manifesto, for instance – but they will be impressed by your response to it and what you gained from the experience of reading it. Unless you expand on these details, a list of books you’ve read does nothing to contribute to the statement.

UniAdmissions Overall Score:

This statement is strong, except where it discusses academic work. The detail here was likely sacrificed in favour of expanding further on their extra-curricular activities and their particular areas of interest. However, they have limited discussion of their study of various classic economic works so severely that it fails to add anything to the piece. The statement would, therefore, benefit from a more balanced approach to the various areas of the student’s life.

We give this Economics Personal Statement a 4/5 as they have clearly projected their passion for the subject onto paper – the most important part of a strong Personal Statement – albeit this was at the cost of other factors that should have been covered in more depth.

And there we have it – an Oxford E&M Personal Statement with feedback from our expert tutors.

Remember, at Oxford, the Admissions Tutors are often the people who will be teaching you for the next few years, so you need to appeal directly to them.

Our Free Personal Statement Resources page is filled with even more successful personal statements and expert guides.

Our expert tutors are on hand to help you craft the perfect Personal Statement for your Oxford E&M application.

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Economics Personal Statements

Submitted by anonymous

Economics Personal Statement

My interest in studying economics is born from my growing up in the w...

Economics and Management Personal Statement

Economics attempts to understand and address many of the world’s most...

Economics and Finance Personal Statement

Over recent years I have developed a passion for looking at current e...

My desire to study Economics at university stems from my interest in ...

The dynamic consumer society we live in is governed by many different...

Economics BA (Hons) Personal Statement

Ever since I discovered that Economics is the study of how individual...

Submitted by James

As someone who is always up to date with current affairs, the foundat...

Submitted by Chris

Economics (and Management) Personal Statement

Discussing the housing crisis with my grandmother was a pivotal momen...

Submitted by Thomas

Economics (with Sandwich Year) Personal Statement

The world is a contrasting place and this is no different for the eco...

Submitted by Phoebe

Economics is woven into our lives even if we are unaware of its signi...

Submitted by Frank

Economics BSc Personal Statement

Economics is the most significant of the social sciences, its far rea...

Submitted by Louise

Economics and Politics Personal Statement

Politics is all about opinion and ideas. From the most powerful man ...

Submitted by Dorothy

BSc Economics Personal Statement

Inequality; the perfect word to describe the problematic world that w...

Submitted by Megan

From an early age I have always questioned where my money came from a...

Submitted by Karin

Business Economics Personal Statement

Having derived from a family that has continuously been driven by bus...

Submitted by Alice

Globally, 385 million children are living in extreme poverty. Economi...

Submitted by Naqsh

My admiration for the subject of economics stems from the way it capt...

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Economics Personal Statement Advice

The best business economics personal statement examples describe a student’s interests, goals, strengths and motivations. It gives the uni a picture of who you are and why you will be successful with them. Beyond undergraduate study, a postgraduate economics personal statement is still essential and covers many of the same themes. Whether it’s an economics masters personal statement or an economics PhD personal statement, it’s important to give yourself the credit you deserve, and present yourself as winningly as possible. Start planning your business and economics personal statement by brainstorming ideas: what skills make an effective student, and how can you demonstrate those skills through past experiences or achievements? You might find it helpful to work with a financial / economics personal statement layout. That way, you can focus on high quality content and not worry so much about the structure. Always allow time to return to your draft to make changes, and proof-read for spelling and grammar. Business departments expect attention to detail, and errors can undermine a personal statement for economics degree students. Keep it professional! If you’re going for joint honours, tailor your statement to suit those particular subjects. A business management and economics personal statement might mention a role of responsibility, such as a position on your college’s student council. Or for an economics and finance personal statement, you could mention managing the budget for entertainment at the leavers’ prom. Don’t list endless clubs or musical awards if you can’t link them to the programme. Earning an entry-level swimming badge ten years ago is nice, but is it really going to enhance an economics and accounting personal statement? Be choosy with your details so that course leaders notice high quality skills, not filler or waffle.

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10 Business and Economics Books Every Student Should Read

12 Jan, 2024 Blog Articles , Business Articles

Whether you’re preparing to study at university next year or you’re still exploring your potential interest in the subjects, we’ve got some Economics and Business book recommendations for you.

Below, we’ve narrowed down our favourite Business and Economics books to just ten titles, curated to offer a taste of the wide range of content these fields cover. We’ve included something for everyone, ranging from simple introductions to history, autobiography, self-help and even a novel. Books one to five focus on the business side of things, while six to ten are more economics-centric.

Happy reading! And if you’re looking for an immersive business and economics educational experience, consider our prestigious Oxford Summer School , where these topics and more are brought to life by experts in the field.

Table of Contents

Best business books for students

1. how to win friends and influence people – dale carnegie.

We couldn’t come up with a list of business books without including this one. Written in 1936 by an expert in business, How to Win Friends and Influence People is one of the best-selling books of all time. While it is, in practice, a self-help book, it focuses on the interpersonal skills necessary to excel in business, especially leadership and persuasion.

Despite being a bit older than most books you will come across in business, it was pioneering in many ways and laid the groundwork for the modern business guide genre. This makes it a valuable and relevant read, no matter how much the business world has changed since the ‘30s. It was also written for a popular audience, not an academic one, making it an easy introduction to the world of business, and a good first step towards more complex reads.

2. Giants of Enterprise: Seven Business Innovators and the Empires They Built – Richard S. Tedlow

This business book focuses on the lives and achievements of George Eastman, Thomas Watson, Henry Ford, Charles Revson, Robert N. Noyce, Andrew Carnegie and Sam Walton. All of these businessmen were incredibly successful due to their innovation and use of modern technologies. The author delves into their stories and illustrates their path to business success.

This book is helpful as a tool for students to pick out the common features shared by these great innovators, to learn which tactics work, and to provide important background knowledge of the progress made in business throughout the 20th century. As it is written by a business historian, this text is a little more academic. However, being split into seven sections makes it easily readable, and you could even pick the two or three innovators that interest you the most and focus on them.

3. Sam Walton: Made in America – Sam Walton

Perfect as a follow-up to number two on this list, this business book offers Sam Walton’s journey to success from his own point of view. This autobiographical text follows Walton’s career from the owner of a single shop to the development of Wal-Mart as America knows it today.

Made in America describes the challenges Walton faced, including persuading people to trust in his vision. He doesn’t shy away from recognising both his achievements and his mistakes. The book also frames Walton’s success in terms of the pursuit of the American Dream, the distinctly American conception of independent economic achievement as the mark of a fulfilled life. This is written in a conversational and direct style, making it a relatively easy read. Walton’s use of anecdotes coupled with his impressive story mean that this book is anything but boring.

4. Outliers: The Story of Success – Malcolm Gladwell

Is there a secret to success? While not exclusively a business book, this bestseller aims to examine and identify the various factors that lead to success. Examples of the successful range from Bill Gates to sports players and musicians. Outliers discusses the impact of several factors on success, including cultural differences, intelligence and practice.

Gladwell takes psychological, historical and sociological principles and incorporates them in his argument in a way that makes them easily accessible, without assuming that his readers have extensive prior knowledge of these subjects. The conclusions of this book are easily applicable to the world of business, and so it is perfect for students who are interested in the social side of the subject.

5. Rich Dad Poor Dad – Robert Kiyosaki and Sharon Lechter

This book focuses on the importance of financial education and financial intelligence, mirroring many of the principles taught in our Business Oxford Summer Course . It is written as a set of parables inspired by Kiyosaki’s own life: the poor dad is Kiyosaki’s father and the rich dad is said to be a friend’s father. The main message of Rich Dad Poor Dad is that hard work alone may not be enough to achieve wealth. Instead, being financially educated enough to make sound investments and build your own business is what Kiyosaki recommends as a key factor in successful business. Kiyosaki has also published several other books on financial advice, and has started offering classes with the purpose of providing financial education. Rich Dad Poor Dad is a great introduction to important financial principles for those with little to no prior knowledge.

What is an economics personal statement?

An economics personal statement should describe your motivations for wanting to study this subject. It tells the university who you are and why you will make a great economics candidate. Whether you're applying for an undergraduate or postgraduate course, it's crucial you present yourself in the best possible light to convince admissions tutors you will be a valuable asset to their department.

Your economics personal statement will be used by universities to decide whether you are a good student to study economics, and whether they want to offer you a place on their course.

How do I write an economics personal statement?

We recommend you start your economics personal statement by jotting down some ideas about your skills, experience, hobbies/extracurricular activities, strengths and ambitions for the future. Our personal statement template can help you structure your thoughts into coherent and concise paragraphs.

Start early and give yourself plenty of time to re-draft your economics statement, and proofread it for spelling and grammar. You will need to go through at least three or four revisions before you have a final, polished draft.

Once you're happy with it, make sure you check it for spelling and grammar (don't just rely on Spellchecker for this). Get someone else to read through it if you're worried you might miss something. You can then think about pasting it into your UCAS form, ready to send off.

What should I include in my economics personal statement?

Be specific and try to give examples of your problem-solving and analytical skills, both of which are important in an economics degree.
If you’re applying for a joint honours, e.g. economics and maths , then tailor your statement so you relate it to both of these subjects.
A business management and economics personal statement might mention a role of responsibility, such as leader of your student debating society or head boy/girl at your sixth form. Or for an economics and finance personal statement , you could mention managing money at your Saturday job.
Any hobbies or other activities you are involved in outside of school should always be linked to your economics course. If you don't feel something is relevant, then don't mention it - remember you only have a limited space of 4,000 characters, so every word has to earn its place. Our personal statement length checker can help you with this.
Round off by talking about your career plans and any other ambitions you have for the future. Mention how your economics degree is going to help you achieve this.

How do I write the introduction for my economics personal statement?

Your introduction should pick out one or two aspects of economics that you particularly enjoy or are passionate about. For example, you might talk about your interest in current affairs and world development, and include one or two situations that made you want to study economics in more detail. This could be anything from a fiscal decision made by the Bank of England, or a how a civil war in another country has affected their levels of income.

By starting with an anecdote, or a specific situation you've read about or experienced, you will have a better chance of drawing the reader in, and making them want to finish reading your personal statement.

Whatever you choose to open with, it should be reflective and persuade the admissions tutors that this is the only subject you want to go on to study at university.

Economics personal statement introduction example

To help demonstrate what you should include in your opening paragraph, take a look at this great example below, where the writer uses their experience of growing up in a poor country where wealth was unevenly distributed as a catalyst for developing their interest in economics:

"Being born and brought up in a country where an uneven distribution of income is a norm, the poor live on a minimum wage of Rupees 115 a day, whilst the billionaires form the sixth largest group in the world. This vast contrast between the rich and the poor has always intrigued me and I have often questioned how this economy India, functions with such instability and chaos."

Here is another good example from another student, who talks about how their studies of the Great Depression ignited their appreciation for economics:

"Studying the Great Depression in the USA in 1929 for my extended project is when I started to fully appreciate my interest in economics. Being able to analyse and argue the issues within my extended project and relate it to the current economic crisis has awakened my passion for the subject further, especially as this subject is covered extensively in the news and media. This shows that economics is an essential factor of our society. Studying this subject in university will equip me with the knowledge to understand the economy thoroughly. "

Hopefully these examples will inspire you to write your own introduction for your economics statement that will grab the reader's attention and make the admissions tutors want to offer you a place on their course.

How do I write a conclusion for my economics personal statement?

Your conclusion should encompass where you hope your economics degree to take you, and what you hope to achieve in the future. This might include your career ambitions, or moving on to a postgraduate course to further enhance your education.

You may also wish to reiterate why are enthusiastic about applying for an economics degree, and why you think you will be a good student for this particular course.

Don't round off your statement with something vague, or by repeating something you've already mentioned elsewhere in your UCAS application. You only have 47 lines of space in which to sell yourself to the admissions tutors, so don't waste it!

Economics personal statement conclusion example

To help you write your concluding paragrapgh, take a look at this example below, where the writer talks about using the knowledge they will gain in real life situations, and how they enjoy learning about the effects of economics on a daily basis:

"I am very passionate about studying economics because I look forward to developing my current knowledge, and applying it to real life situations. I believe my desire to keep in touch with today’s economics is what will allow me to thrive in higher education."

This writer chooses to talk about applying for a Masters program once they complete their degree, and taking up internships during their summer break to gain more work experience:

"My aspirations upon graduation from University would be to advance my studies in a similarly themed Masters program or work in international development. I plan on taking internships throughout the summer breaks to gain more work experience and help me fund my student lifestyle. I am looking forward to learning and developing in various economic subjects and am excited about the opportunities that I’ll have both as a student and once I graduate."

Hopefully these two examples will help you write your own conclusion for your economics personal statement, and round it off in a way that will make it stand out from the crowd.

For more help and advice on what to write in your economics personal statement, please see:

Personal Statement Editing Services
Personal Statement Tips From A Teacher
Analysis Of A Personal Statement
The 15th January UCAS Deadline: 4 Ways To Avoid Missing It
Personal Statement FAQs
Personal Statement Timeline
10 Top Personal Statement Writing Tips
What To Do If You Miss The 15th January UCAS Deadline.

What can I do with an economics degree?

There are many different options for those choosing to pursue an economics degree. These include:

business analyst
financial consultant
investment analyst .

However, there are also many other career paths where an economics degree could be useful, such as:

data scientist
economic development officer
quantity surveyor .

For more advice on what you can do with your economics degree, please visit TopUniversities and Prospects .

What are the best UK universities for economics?

Currently, the best UK universities to study economics at for 2023 are:

For more information on UK university rankings for economics, please see The Complete University Guide and The Telegraph.

Further resources

For more information and advice on economics degrees and careers, please see the following:

9 Economics Degree Jobs
Careers in Economics - LSE
10 Jobs for Graduates With An Economics Degree
What jobs can you get with an Economics degree in the UK?
Economics - Career Pilot
What to do with an Economics degree - Bright Network

Related resources

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UCAS Economics Subject Guide

Careers In Economics

National Careers Service: Economist

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Economics Degree Jobs

Economics University Rankings 2023

Economics Degree Guide

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17 Books for Economics Personal Statements 2022
Economics Rules by Rodrik. A good introduction about the uses and limits of economic models. Covers several different models and settings from the 2008 financial crisis to second best theory. The Economist's View of the World by Rhoads. Another good introduction to economic thinking, this time about some of the ways in which economists think.
Economics Books to Read for Personal Statement
With different ideas and philosophies, the first book summarises the different Economic schools of thought nicely. Whereas, you may be interested in reading the individual works of each Economic thinker in particular if you are interested in say Keynes or Adam Smith. The Worldly Philosophers: The Lives, Times, and Ideas of the Great Economic ...
Successful Personal Statement For Economics At Cambridge
This Economics Personal Statement successfully helped an applicant receive offers from Cambridge and LSE. ... , your tutor will give you regular actionable feedback with insider tips on how to improve and make your Personal Statement Oxbridge quality for the best chances of ... rather than falling into the trap of simply listing books read and ...
Sample Economics Personal Statement (admitted to Oxford, Cambridge, LSE
The following personal statement is written by an applicant who got accepted to top graduate programs in economics. Variations of this personal statement got accepted at Oxford, Cambridge, and LSE. Read this essay to get inspiration and understand what a top economics school PS should look like. You might also be interested in reading this ...
7 Economics Personal Statement Examples
Firstly, here is a list of ten economics personal statement examples available online. Also below, there is analysis of what makes a great economics personal statement. + Good evidence of independent study. + Great supercurricular activities discussed. + Good personal takeaways.
How to Write your Economics Personal Statement
Suppose now you have your list of supercurricular activities. You can use these to form the main body of your personal statement. For these activities, as above, group them into particular paragraphs. This grouping could be based on the topic of the supercurricular activities. You could aim for 2-4 activities per paragraph.
Personal statement advice: economics
What to include in your economics personal statement. Your long-term goals: explain how your degree choice fits with your future ambitions and career aspirations. Wider reading: do pick out one or two specific issues that had an impact on you - just saying you subscribe to 'The Economist' or 'The FT' or that you've read ...
The 7 Best Economics Books of 2024
Best Biography of an Economist: Empathy Economics. Buy on Amazon. Janet Yellen is a rare individual. She is a highly accomplished woman and scholar in a male-dominated profession and is now the ...
Writing an economics personal statement: expert advice from
Keep your personal statement personal. Don't forget the purpose of your personal statement: to explain who you are, what inspires you and why you'd be a good fit for the course. "Be yourself," says Luke at the University of Kent. "Tell us what has motivated you to apply for economics. Your rationale can be as grand or as humble as you ...
How to Write an Economics Personal Statement
The bottom line is that showing an interest in Economics requires time and effort alongside your studies. Starting to implement extra reading alongside your studies should be done at an early stage. When you start university you are expected to do extra reading, so this is a good skill to start developing now! Step 6.
Economics personal statement examples
Economics degree personal statement example (1e) UCL offer. Submitted by: Anonymous. "Travelling around the world, and having visited places including America and Iran, has allowed me to personally witness..." Economics degree personal statement example (2d) with review. Submitted by: Anonymous.
Writing the Perfect Economics Personal Statement
Economics personal statements need to show a strong understanding of the mathematical and statistical side of the subject as well as an interest in global economic issues. Reading, watching documentaries, and listening to podcasts are fantastic ways to improve your Economics personal statement - and what's more, you can do them from the ...
How to Write an Economics Personal Statement
The activities can range from anything such as reading books on Economics, attending Economics events, to having a related work experience. If you want to include any experiences not relevant to Economics to show what you are like as a person, that is certainly acceptable, but should be less than 25% of your statement.
5 books for your Economics personal statement
👑 Get the full guide to Economics applications eBook:https://forms.gle/gNHSvoCep1ngzm9i6📈 Get coaching for your admissions: https://calendly.com/themis-edu...
The Perfect Economics Personal Statement
The second essential quality in an Economics personal statement is evidence of initiative and forward planning in the field. If the student has already started the process of organising internships or other work experience related to Economics, this indicates, determination and maturity. Admissions tutors hardly expect 17-year olds to have ...
top 15 economics books for students
Today, I'm going to recommend the best Economics books I read as a student. Many of these books were included in my personal statement, which landed me offer...
10 Must Read Books for Economists
For economics students interested in working in the fields of international trade or monetary policy, Travels of a T-Shirt is a must-read. Plunder and Blunder: The Rise and Fall of the Bubble Economy, Dean Baker. Plunder and Blunder offers a look at the causes of the housing bubble that precipitated the 2001 and 2007 market crashes.
Must read books for economics students
Ten of the best economics books for students. 1. 'An Enquiry into the Nature and Causes of the Wealth of Nations' by Adam Smith. It may have been written way back in 1776, but Smith's classic is still widely read and held in high regard today. As the very first scientific argument for the principles of economics, his book paved the way ...
Successful Personal Statement For Economics & Management At Oxford
Today, we are looking through an Economics and Managment applicant's Personal Statement that helped secure a place at Oxford University.The Economics and Management Course at Oxford examines issues central to the world we live in: namely how the economy and organisations function, and how resources are allocated and coordinated to achieve the organisation's objectives.
Economics Personal Statement Examples
The best business economics personal statement examples describe a student's interests, goals, strengths and motivations. It gives the uni a picture of who you are and why you will be successful with them. Beyond undergraduate study, a postgraduate economics personal statement is still essential and covers many of the same themes. ...
10 Best Business & Economics Books for Students
Best economics books for students. 6. Freakonomics - Steven D. Levitt and Stephen J. Dubner. A fun and easy-to-read introduction to the subject, this economics book is perfect regardless of your existing level of knowledge. The authors apply economic principles to seemingly unrelated everyday occurrences, making this book extremely accessible ...
Economics Personal Statements
An economics personal statement should describe your motivations for wanting to study this subject. It tells the university who you are and why you will make a great economics candidate. Whether you're applying for an undergraduate or postgraduate course, it's crucial you present yourself in the best possible light to convince admissions tutors ...
Economics books for personal statement
The Return of Depression Economics by Paul Krugman. Crisis Economics by Noriel Roubini. Globalisation and Its Discontents by Joseph Stiglitz. Making Globalisation Work by Joseph Stiglitz. The Wealth and Poverty of Nations by David Landes. Capitalism and Freedom by Milton Friedman. Road to Serfdom by Friedrich von Hayek.

Sample Economics Personal Statement (admitted to Oxford, Cambridge, LSE)

by Talha Omer, MBA, M.Eng., Harvard & Cornell Grad

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How to Write your Economics Personal Statement

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The 7 Best Economics Books of 2024

Best Overall: Serious Money: Walking Plutocratic London

Best Exposé of a Powerhouse Company: When McKinsey Comes to Town

Best Biography of an Economist: Empathy Economics

Best on Economic Fault Lines in Today’s Unstable World: Disorder: Hard Times in the 21st Century

Best Collection of Opinions: Economics and the Left

Best on Economic Pursuit as the New Religion: Work Pray Code

Best for Making Economics Simple: Talking to My Daughter About the Economy or, How Capitalism Works—and How It Fails

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What are the top books for economics students?

Ten of the best economics books for students

2. ‘Economics: A Very Short Introduction’ by Partha Dasgupta

3. ‘The Big Short: Inside the Doomsday Machine’ by Michael Lewis

4. ‘The Reckoning: Financial Accountability and the Rise and Fall of Nations’ by Jacob Soll

5. ‘Freakonomics: A Rogue Economist Explores the Hidden Side of Everything’ by Steven D. Levitt and Stephen J. Dubner

6. ‘The Undercover Economist’ by Tim Harford

7. ‘The Armchair Economist: Economics and Everyday Life’ by Steven E. Landsburg

8. ‘Doughnut Economics: Seven Ways to Think Like a 21st Century Economist’ by Kate Raworth

9. ‘Good Economics for Hard Times’ by Abhijit V. Banerjee and Esther Duflo

10. ‘23 Things They Don’t Tell You About Capitalism’ by Ha-Joon Chang

Successful Personal Statement For Economics & Management At Oxford