Narendra Regmi
Statement of Purpose for PhD in Economics (University of Kentucky)
Back when I was in middle school, I dwelled in two parallel worlds. The first one was a fictitious world at my school where I was required to memorize the magic number: 83,000 MegaWatts, the total hydroelectric potential of Nepal; where I was theoretically exposed to all the positive externalities that the proper utilization of water resources entailed. But the reality was bleak and disheartening. After arriving home from school, the rosy facts and figures regarding the potential hydroelectric energy would vanish into thin air, and the real world would set in. Blackouts up to eighteen hours every day had crippled our daily lives. The price of Liquefied Petroleum Gas (LPG), a major fuel source for cooking which was imported, stored, and distributed by a state enterprise, was skyrocketing beyond the reach of many families. Massive unemployment triggered by energy crisis led hundreds of thousands of Nepalese to leave the country to pursue menial jobs in the Middle East. The recurring news of deaths of several workers only made the matter worse. As a teenager, I could not comprehend why we had been unable to harness our hydroelectric potential to benefit our economy, but I was optimistic that my consistent pursuit of knowledge would enable me to better understand the core problems and eventually obtain feasible solutions.
After obtaining a scholarship to study GCE A-levels, a high school program administered by the University of Cambridge, I embarked on an intellectual journey at Budhanilkantha School, in the capital city of Nepal. This is where I was first introduced to Economics. The framework of analytical reasoning and critical thinking skills th...
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...ery ostensibly complex problem can always be broken down into smaller tractable problems and can be reverse engineered by connecting the dots to solve the overall problem. I am confident that these insights will be instrumental in pursuing my academic endeavors at the University of Kentucky.
I would like to materialize my dream by joining the world renowned Public Economics PhD program at the University of Kentucky by involving myself in research works alongside the pioneers in the field. During the summers for the next few years, I wish to work for policy institutes and development agencies to observe how economic theories are translated into policies for the betterment of our society. I will thus be able to apply these invaluable experiences in designing robust policies for developing economies. I know U.K. will assist me in paving the path towards that direction.
Alfred A Knopf, of New York publishing house fame, once stated “An economist is a man who states the obvious in terms of the incomprehensible”. For being someone who is just learning the basics of economics, this elucidation speaks volumes to this branch of the social sciences. From my basic understanding, economics is the study of scare resources that determine the supply, demand, and consumption for a said good. Wherein the simplification of multifaceted issues is used to make predictions that can be used to serve a society’s needs. Although this may seem like a simple concept, Knopf’s comment illustrates the complexity and involvedness of economics within a given society. Ultimately, from this definition, economics is a tool that aims to
The use of turbines from dams to provide power was a brilliant idea until water levels started running lower than normal. The water waste from humanity is directly contributing to portions of it, aside from drought conditions affected by pollution, widespread fires battled, and more adds to the depletion thereof. When humanity is relying on power provided from dams to handle the demand, they are essentially relying on the assumption that water levels will always be there to provide it. The Hoover Dam provides power to the southwestern portion of the USA that has a large number of people.
Squire, Ann. Hydrofracking: The Process That Has Changed America's Energy Needs. New York: Scholastic, 2013. Print.
Economic ideology sets out with a goal, in example, trying to explain the secrets of success (and failure) of a nation: why and how a nation managed to reach economic growth and generates prosperity. The economic methodological basis believes that the concept of human capital is only sensible and has a practical implication if understood in the whole framework. For that reason, it is very interesting to see the significance and meaning of the concept of human capital in the global context.
I was awarded a special distinction for securing the highest grade on the national high school standard board exam, amidst all Tibetan School in India and was able to secure admission into India’s top college for commerce, Shri Ram College of Commerce, Delhi University, to complete my three years undergraduate studies in Bachelors of Commerce (Hons). I further specialized in the field of Finance and Economics during one year Postgraduate Diploma in Financial Planning from International College of Financial Planning, Delhi and one year Masters of Arts in Development Economic from Warsaw University, Poland.
My country, Azerbaijan, is under the necessity of high-class administrators and managers, economists and experts of finance, as well as well qualified decision makers in such decisive sectors of public and country government as economy and politics. These decision makers may carry out productive methods in this sphere of economy and public administration and represent the country in a way that will facilitate its integration towards the West and globalization. It is also important to have strong experts in public, private and civil society; proper analysis of economists will inevitably lead towards the prosperity of the whole country since in our modern world the states with solid economic background dominate global processes around the world. In addition, we need potential young leaders who can mobilize the rest of young generation and improve the social activity level being a sample for those young to follow. Thus, those are my concerns that propelled me to choose Master`s degree in the department of management and graduate education at your University in the United Kingdom.
There is an acute shortage of both energy and water, especially in the 3rd world
I have a solid interest in business and the global market, and economics sits at the core of these areas. My personal aim is to master the market, but so as to do this it will be essential for me to first comprehend economics and how the money and resources are flowing around the world. Whereas a deep and diverse topic, learning the core concepts contained in your economics program will open countless of doors and opportunities for me to develop my approach to the world of business.
My decision to apply to study at Imperial College London is due to the university’s record of academic excellence and its ability to equip students with the skills of critical analysis essential to becoming leaders in their chosen sectors, as well as its location at the heart London, thus providing good links with the world of business and finance and enhancing opportunities for personal and professional development. Obtaining a degree in economics from one of the most prestigious universities in United States is just a beginning. I already faced the challenges at Pennsylvania State University during my degree years and have discovered many opportunities along the journey. Now, I am looking forward to discover new opportunities and always willing to accept responsibility. I am prepared and ever keen to face new challenges at the Imperial College London.
Based on Joshua Gans, Stephen King, Martin Byford and Gregory Mankiw (2015), there are three reasons of why students should study economics. The first one is that economics can assist people to understand the real word. For instance, why some students can find good jobs in the certain time but others cannot find such good job in other time. Secondly, in people’s daily life, they always make economics decision, for example, when you are student you should allocate the time of study and your hobby; learning economics help people become more astute in those decision-making. The last one is that economics helps people to gain better understanding of potential and limitation of government policy. For example, what type of tax is sensible and which is irrational
In today's world, economics associated disciplines are of fundamental significance and application and this has encouraged me to pursue a degree in Economics. Economics has an important relevance in all of our lives. As consumers we try to make the best of our limited incomes. As workers we take our place in the job market. As citizens of a country our lives are affected by the decisions of our government: decisions over taxes, decisions over spending on health and education, decisions on interest rates, decisions that affect unemployment, inflation and growth. As dwellers on the planet Earth we are affected by the economic decisions of each other: the air we breathe, the water we drink and the environment we leave for future generations are all affected by the economic decisions taken by the human race. It is these stimulating issues that excite me about economics. I enjoy studying Economics enormously and believe my passionate interest in economics is continually strengthened by my regular reading of 'The Economist'
I am at the crossroads of life where I have to take a major decision which will shape my future. For me, to shift from engineering to economics and to pursue an advanced study in United Kingdom is both a challenge and an opportunity. I have chosen economics as my field of study because it is full of new ideas and at the same time it requires a strong mathematical background and analytical skills. I have sound credentials in mathematics that will enable me to excel in this field of study. The real life implications of this subject also give me great motivation to go for economics. Though economics is defined by principles and sophisticated rules but still there is a lot of scope for self-expression in the form of
When mentioning economics, people may have different opinions of it. Economics is a boring subject? Are there many complexed theories to understand? There may be some questions in people’s mind when they start to studying economics. When people approach new knowledge at the first time, they want to know, “what is it?”, “what benefit can I get from it?” Some people may think economics is about the market, money, products, customers and producers. If use these elements to define economics, it is too narrow. How to explain the definition of economics and how to apply economics to individual and social development are two main topics which should be discussed. This essay is about my view of economics from individual perspective.
Economics is an important subject in the school curriculum as it is considered a body of knowledge that is useful to the nation. It is also a fundamental subject which acts as a basic necessity for better understanding developmental process, not only at the individual level but at the national level. According to Harper (2001), Economics is a social science that studies the production, distribution and consumption of goods and services. Knowledge of economics is essential to every individual not only because of its application in everyday life or for being effective in the society, but also for active participation in developmental processes in the economy.
Sullivan, A., & Steven M., (2003). Economics: Principles in action. Upper Saddle River, New Jersey : Pearson Prentice Hal