A Research On Social Welfare, Social Insurance And Social Relief Essay examples

A Research On Social Welfare, Social Insurance And Social Relief Essay examples

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Personal Statement

Majoring in Labor and Social Security, I started my undergraduate study in Renmin University of China. Being a relatively new area, this unique major focus on the research on social welfare, social insurance and social relief. Nonetheless, I believed that this area is closely related to macroeconomics, actuarial science and statistics. Without systematic knowledge about these broader fields, talking about social security will be biased and not scientific enough. Therefore, I applied to transfer to University of Pittsburgh to study economics when I was a sophomore. Critical and brave, this choice made a difference to my life.
After taking the course of actuarial mathematics, my interests about financial economics and mathematics were stimulated. As a result, I started to take more mathematics courses and try applying my knowledge of mathematics to economic theories that I have encountered. Enrolling in the course of partial differential equation(PDE) this semester, I picked up the basic knowledge about second order linear PDEs. In addition, I acquired the necessary skills to solve PDEs like Fourier series and Laplace transforms. When introducing the heat equation, the professor talked briefly that heat equation can be helpful in understanding the behavior Brownian Motion. At that moment, it stuck to me that one of the underlying assumptions for Black-Scholes formula is, stock price has Geometric Brownian motion. I got to know the Black-Scholes formula in my economics of corporate finance course, when my lecturer only briefly introduced this European Option pricing formula without any details about the proof. I thought that maybe I can use my knowledge about heat equation to get a proof of this formula. Trying...

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... knowledge about Time Series, in-depth econometric theory and some theories about econometric forecasting. In addition, through this business case competition, I found that asset pricing theories, which treated in great details in Financial Economics class of graduate level, are very useful. Therefore, after getting to know the course structure of the Master of Economics program in University of Hong Kong, I have decided to apply for this program. My career goal is to work as a fixed income security analysist in a security company of mainland China. Since macro-economic situation, economic policy and market interest rate play a great role in the analysis of fixed income security, this postgraduate economic program is quite helpful to me to achieve my career goals by cultivating my econometric skills and equipping me with economic theories to make economics analysis.

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