Perhaps the very thing about economics and mathematics that appeals to me is the peculiar

ubiquity of these subjects. As though affirming their ability to illuminate the patterns that govern
the choices we make, economic models can- rather paradoxically-be used to explain my
motivations for choosing such a course. Interestingly, the law of comparative advantage suggests
that I would be naturally inclined to pursue an area of knowledge which I have an aptitude for.
Being an individual who enjoys discovering the causes behind events, such preference would be a
course in economics and mathematics.
While my interests encompass a plenitude of areas, I have always enjoyed seeing how ideas from
seemingly different disciplines come together to form new theories. One of these ideas
happened to be game theory, which I unknowingly applied during the finals of a science and
mathematics quiz where competitors received penalties for wrong answers. Identifying the
saddle points of each round enabled me to anticipate my opponents' decisions and dictate a
playing strategy that maximized the odds of winning. My realisation that simple matrix
calculations provided the decisive edge in securing my team's triumph was the spark that stoked
my interest in mathematical economics.
I came to appreciate the timeless beauty of mathematics after reading David Bergamini's
'Mathematics'. It is fascinating how modern economic analysis methods such as the cobweb
model are built upon fundamental principles of calculus laid down centuries ago. Undertaking
further reading on linear algebra enabled me to comprehend the versatility of mathematics in
solving problems, with applications involving strategy and resource management being my
primary interest. I particularly enjoyed studying Leontief input-output models as I find it
intriguing how changes in the demand of one sector of an economy could have unexpected
ramifications for others.
While the beauty of mathematics lies in its succinct pragmatism, I believe that economic theory is
required to harness that rigor to generate a practical framework for drawing predictive
inferences. Conducting a thought experiment on the Monte Hall problem with my classmates has
led me to believe that the expected utility hypothesis is an unreliable assumption in modelling
decision making due to its inability to account for possible behavioural quirks, as postulated by
Arkelof and Shiller in 'Animal Spirits'. Reading Kahneman and Tversky's paper on prospect theory
painted a startling picture on loss aversion, which made me question the validity of the efficient
market hypothesis in volatile markets.
Working alongside my father in his decor business further catalysed my interest in this field.
Besides engaging with the technical aspects of setting up an e-commerce website, I managed to
utilise microeconomics to leverage the business' sales, witnessing the effectiveness of third
degree price discrimination through the use of discount coupons. I also drew upon my knowledge
of probability distributions and differential equations to assist in inventory control. Experiencing
the application of such theories first-hand cemented my decision to pursue this course and has
led me to contemplate a career as a quantitative analyst.
As the founder and president of my school's economics club, I have experienced overcoming
challenges associated with establishing and governing an organization. In my effort to promote a
wider understanding of economics to my college community through club seminars and peer
tutoring, I have learned to communicate ideas in a concise and accessible manner. Seeing that, I
am confident about being able to take on the challenges of university and engage with the
student community.
I hope to better understand the forces that shape our future by studying economics and
mathematics. After all, the only thing more exciting than anticipating the events that will chart
mankind's history is being able to influence them.