Thursday, December 12, 2019
Economics free essay sample
Economists focus on direct signals and indirect or causal signals. Explain first, with examples (not examples taken from the text or lecture), the difference between a direct and an indirect signal. To illustrate the point further consider the very important macro indicator in many countries called Retail Sales, which captures household expenditures on physical goods as well as food services. In addition to the overall index, the database includes information on all categories of goods contained in the overall index. In a 1. 5 to 2 page essay speculate on the various direct and indirect macroeconomic signals that may be contained in a three-month analysis of retail sales data. Please feel free to be creative speculate on what kind of correlations you find between retail sales and other aspects of the economy, maybe aspects of the economy that affect your personal or professional life. (If you would like to look at the data associated with this indicator, take a look at FRED, http://research. Before this I was studying accounting with AAT for 2 years and gained an AS level in accounts alongside. To be a chartered accountant is still my ambition; however I find the HND has opened my eyes to economics and other finance related subjects. I find the banking world and the stock market extremely interesting and would relish the chance to be able to speak about it on a more professional level. It never fails to amaze me how decisions made at the top levels can have effects on such a wide range of people and I would be confident to hold such great responsibility. I am glad that the HND has broadened my knowledge of an array of subjects including law and marketing, subjects for which I had little previous interest but which I understand the relevance of now. In my younger years I gained 3 academic scholarships to The Blue Coat School, Edgbaston, The Royal Wolverhampton School and Haberdashers Monmouth School for Girls. I gained a further Bettinson Scholarship in my final years at Blue Coat, where I also reached Grade 8 Speaking of Verse and Prose with LAMDA and Grade 5 piano aswell as playing for the school netball and rounders teams. Unfortunately however, my life hasnt always gone as intended. I was placed n care at the age of 14, a pivotal point in my education, when my mother suffered from mental illness. As an only child with no father, I found myself alone. They say every cloud has a silver lining and I have found that to be true, this experience only served to make me more independant, mature, and more determined to realise my potential. Moved from city to city, I have never lost sight of my goals and as a result of my turbulent upbringing, I have developed educational and workplace skills of immeasurable value. A good strategist, I can work around the most unexpected scenarios while keeping a level head, my time management and organisational skills are of a high standard, my interpersonal and public speaking skills have improved considerably as a result of the HND and I work well within a team or individually. In my spare time I love to keep fit, often visiting the gym and going for runs. I keep up to date with current affairs, regularly checking the news and reading The Economist. I have a passion for films and I enjoy a late night read of an Agatha Christie novel. I love social events and also enjoy cooking, I love a challenge and like to try new things so I often hold small dinner parties for friends. I am a determined individual who never fails to give 100% and I thoroughly believe my attitude and thirst for knowledge would make me an asset to any learning establishment. It is my opinion that to be successful in academic studies, you must have a genuine passion for the subject, a passion I certainly hold for business and finance studies. It was when I earned my first pound at the age of ten washing my mothers car that I became interested in the power of money. Over time it became clear to me that the people who understand the monetary and banking system are capable of understanding the decisions made by governments and the future of society. I want to be one of those people. To broaden my knowledge of different areas of finance, I have read a number of different books on the subject from How the City of London Works to Rich Dad Poor Dad. I am also a regular reader of the Economist magazine. I believe that reading such books and magazines has iven me insight into topics not covered at school, for example how Japanese management in Chinese factories caused unrest among the workforce due to the Chinese workers dislike of the Japanese management style, and how this affected the share price of companies such as Honda. Reading about such things has made me realise how the subject of Finance and the economy affects everybodys lives, and has strengthened my desire to further study the subject. The A-level subjects I am studying give me a firm foundation for studying Finance at University. Business Studies at A-level has greatly improved my analytical and writing skills. I have particularly enjoyed the part of the course which concerns how a firm selects financial strategies and how managers choose which aspect of a firm needs the most investment. German has improved my communication skills and self-confidence and has also made me more appreciative and open to other cultures. Alongside the logical method of thinking that I have developed from Mathematics at A-level, I believe that I am well prepared to take on a degree course in Finance at University. My part-time job as a receptionist at a sports and leisure club has given me some insight into the demands of working life. Having worked there since May, I now feel I am an able employee and because of the nature of the job. I have learned how to communicate with colleagues, my employer and of course, customers. I often have to work alone so I have learned to use my own initiative and how to be independent skills which are of paramount importance if I want to work in the financial industry. Since the age of eleven, a hobby and a major interest of mine is Brazilian Jiu-Jitsu. This year I won the Welsh Open under 18 absolute division and in 2010 I won a silver medal in the under 18 lightweight division in the European Championships. My previous successes include being the team captain for the Indonesian National Childrens team, where we won the Pan Asian team Championships, beating The Philippines in the final. Balancing my academic life with the rigours of playing a sport at such a level has been very challenging at times. The weeks and months leading up to a major competition are usually pretty stressful, but, as I have now been through the experience many times, I have learned how to deal with immense pressure and how to enjoy the success which comes afterwards! In addition to this, I have learned about commitment and dedication as well as honour and how to handle a major loss, and also how to remain humble in victory. The things I have learned from Jiu-Jitsu will help me throughout my life; not only during University, but during my career and long afterwards. I am taking a gap year so I can earn some money in order to travel and to pay for some of the costs of University. I intend to keep my job as a receptionist and also to take on some teaching at the sports and leisure club and, when I have enough money, I am planning to travel around Europe and South America. I believe this experience will be worthwhile as I will come to University with greater maturity after experiencing other cultures. A possible career option is to do something involved in banking or investments I certainly hope I will never have to wash another car again!