Having remediating the catastrophic effects of the Global

Having
been born in Mauritius, I have always been puzzled by successful economic story
of such a small state with no significant natural resources. My country’s
surprising evolution from a doomed island vulnerable to exogenous shocks to the
economic tiger of the Indian Ocean sparked my interest and compelled me to the
study the peculiar forces driving the economy. The unique combination of
science and arts confers an intriguing character to the field of economics as
the system of quantitative and verifiable hypotheses validates its existence as
a science and yet the erratic behaviour of humans, a central theme often
ignored by classical economists, still plays a vital role in the modelling of
decision-taking and speculation based on economic theories.

Being
ranked third on national level for my GCE O-level Economics motivated to pursue
economics in my spare time. Diligently informing myself about global current
affairs about business, finance and economics from The Economist each week, all
while devoting adequate study time to my science A-levels subjects became my
routine. However, my participation in the Model United Nations, as a delegate
of the Trade and Development Commission in charge of remediating the
catastrophic effects of the Global Financial Crisis of 2008, shaped my
understanding of the sphere of economics as a powerful and fascinating one,
capable of affecting directly the lives of common householders and giant
corporations and this event was what prompted me to appreciate the numerous
challenges associated with Economics as an academic discipline.

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In
addition, reading specialised books on the subject, while updating my knowledge
about basic concepts through A-level Economics books, contributed to a better
comprehension of the evolution of the multitude of theories and school of
thoughts constituting the backbone of economics. While Smith and Keynes’ axioms
were pervasive in my study materials, they, through the Homo Economicus behaviour,
failed to fully explain financial crises, upsurge in oil prices and the economic
performance of nations plunging in recession.

This
dissatisfaction triggered the need to find other reading materials and this is
when I stumbled upon the field of behavioural economics. Richard Thaler’s “Misbehaving: The makings of Behavioural
Economics” proved to be a worthwhile read as it encapsulates the essence of
the combination of economics with psychology. The real-life examples and
anecdotes provide concrete proof of behaviour deviation from rationality and
what were previously termed as anomalies by many classical economists could
finally be explained by unconventional theories. Camerer ‘s “Behavioral Game Theory”, a more
challenging read, presented a less emotionless and more realistic approach to a
world famous normative theory. The numerous experiments proposed redefined my
approach to decision-making and strategy and helped to factor in previously
ignored psychological factors which heavily impact real life decisions.

The numerous calculus and statistics modules
explored in my A-Level Mathematics course facilitated my understanding of the
numerous statistical models used during experiments described in the books and
I believe that the analytical and problem-solving skills fostered will help me
in undertaking mathematically rigorous economics courses. Moreover, my frequent
participation in debate competitions improved my verbal and written communication
skills and a senior role as Head Team member of the Student Council allowed me to
apply resource allocation and optimization theories in real-life situations.
Currently, I enjoy perusing the works of Mauritian economists in relation to
the forecasts while linking data from macroeconomic policies to such predictions.
It is my firm belief that a UK university, set at the heart of all financial
and economic activities, will enable me to delve deeper in this academic
discipline and make my own breakthroughs.

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