How to Write an Economics Personal Statement

If you are applying to study Economics in the UK, you are likely aware of the subject's highly competitive nature. Universities receive thousands of applications each year, many from students who can list top grades and impressive extracurricular activities. So your UCAS personal statement becomes one of the most critical components of your application that can set you apart from other candidates. Your personal statement serves as the first—and sometimes the only—opportunity to convey to universities why you aspire to study Economics. It allows you to articulate your motivations, provide context for your academic achievements, and highlight relevant skills and experiences. Essentially, your personal statement is your chance to present yourself persuasively to admissions tutors, demonstrating why you would excel as an Economics student and how you would benefit from the course that you are applying. Rather than simply listing your accomplishments, your statement should focus on how and why your intellectual curiosity, quantitative skills and relevant experiences makes you a perfect fit for an Economics degree. Here are the following steps on how to write an Economics Personal Statement.

1. Compelling Introduction

Admissions tutors often have to read a huge number of personal statements, so you have grab their attention and make sure they want to carry on reading yours. To do that, you should make your personal statement unique and memorable. Generic opening with cliches like "I have always been interested in Economics"—will do you no good. To start, tell them exactly your motivation for wanting to study for an Economics degree. Firstly, consider the first time something happened that sparked your interested in Economics, was it perhaps how so few people saw the Global Financial Crisis 2007 coming and whether it was inevitable? This shows that you are thinking beyond the A-level syllabus. Secondly, was there a personal anecdote that created your passion this field, was it perhaps you grew up in a wealthy country and yet witness high level of inequality in your country? This shows your moment of thought-provocation and how it relates to real life, thereby making your application personal and unique. 

You should also be clear about what attracts you specifically about the course that you are applying to. This includes talking about the topics and modules that you will be studying should you be accepted and how that ties with your ultimate long term goal once you have earned this degree, be that further studies at the postgraduate level or for your future career. Doing research into what you will be studying not only makes your statement more relevant, but demonstrates your desire to expand your knowledge at the Undergraduate level. Ask yourself: Have I taken initiative to analyse some concepts that I will learn in my first year at university and what do I understand about them? What can this university offer me in terms of research, faculty and opportunities? How does this degree help me become specialised in an area, or enter a certain industry or land a specific job? 

2. Wider Reading

Reading beyond your school curriculum to gain an understanding of World Economies is highly valued by Universities. To start, you should read a wide range of Economics book such as "The Wealth of Nations”, "Freakonomics" or ‘the Bottom Billion’ etc, all of these books where aspiring Economists read. These are good beginning to give you a solid foundation of economic theory and popular thought upon which to build upon at university-level. But the problem is every other Economics applicants would have read these books which then makes your personal statement becomes generic. So you cannot stop there, and instead you need to find your niche, with 2-3 areas that you find particularly interesting to make you want to delve into a little deeper. This can be done by consuming a wider range of materials, like listening to ‘The Economist’ Podcast, watching different news, documentaries or Youtube videos, reading journals and reports from the World Bank etc. 

As you consume these wider readings, instead of reading passively to get through as many as you can, be active and engaged with the materials. This means form your own opinions as you go along. Do you agree or disagree with the interviewee is saying and why? What challenges you in this book and what thoughts had it provoked? Was there a particularly section in the documentary talking about the GFC that particularly fascinates you and made you want to pursue an Economics degree? Once you’ve thought about these questions and developed your wider subject knowledge, choose two key texts to reference them into greater detail in your personal statement. Remember, quality over quantity. Avoid listing everything you have read or giving generic book review, as those will not demonstrate your individual critical perspective, nor will it come across insightful should you be asked about them in interviews.

3. Skills

Next, think about what skills you possess that would make you suitable for an Economics degree. This is a very important section for all applicants, but particularly for Economics candidates where a variety of skills from a range of different areas are demanded. You will also need to demonstrate blends of data analysis and criterial thinking skills, logical reasoning and problem-solving skills, interpersonal and social awareness skills etc. Mathematical skill is of course mandatory which you can demonstrate through your A-level studies. If you took Mathematics and Further Mathematics A-levels, discuss how they have helped you understand economic models. For example, explain how studying calculus improved your understanding of marginal costs or how probability theory gave you insight into risk assessment in financial markets. These skills not only helps to prepare you for an Economics degree, but for top universities they are being tested as part of the admission process. From TMUA for LSE and Cambridge to TSA for Oxford, exceptional mathematical ability is a requirement as a bare minimum. As you talk about your skills, be sure that to not only highlight what skills you have but also explain how you have developed them, such as from work experience or extra-curriculum activities. This is something we will explore further in the next two steps.

4. Work Experience

What better way is there to develop transferrable skills and learn about the way the real world operates than doing work experience? It is difficult to obtain work experience before attending university so any internships or part time job or volunteering work can be a real asset to your personal statement. The key here is to for you to pitch to the admission departments what you learned from your work experience, what skills you developed, and how it shaped your interest in Economics at the Undergraduate level.

Since Economics is a social science that can lead to a broad range of careers, the admission team may not necessarily be looking for any particular form of work experience. So you should start by identifying what types of skills are important for an Economics degree and that you are interested in developing. For example, an internship at a consultancy firm where you were conducting research into economic issues, collecting and interpreting data illustrates research demonstrates data analysis skills; an internship at an investment bank where you perform financial analysis and forecast budget highlights criterial thinking and problem solving skills; a summer job at a hotel where you were responsible for building relationships with clients and forming pricing strategies of different rooms demonstrates interpersonal skills and an understanding of real world systems. 

Whatever work experience or volunteering you have, make sure these experiences are relevant to an Economics degree and reinforce the idea that whatever you did there prepares you to study Economics, makes you interested in deepening your understanding of Economics, and supports your long-term objectives beyond an Economics degree.

5. Extra-curriculum Activities

Extracurricular activities strengthen your personal statement by further proving your aptitude for Maths and Economics, skills, interests, and engagement beyond the classroom. If you have competed at a national level or won any awards within competitions, projects, programs and hobbies, these could be great to mention as long as it reinforces your suitability for an Economics degree. 

In terms of competition, one example of a highly regarded extracurricular activity that showcases strong quantitative and problem-solving skills is participation in the UK Mathematics Trust (UKMT) Challenges. Success in these competitions demonstrates an ability to think logically, tackle complicated mathematical problems, and apply numerical reasoning, all of which are fundamental to Economics. Students who qualify for the British Mathematical Olympiad or achieve Gold Awards can highlight their proficiency in handling abstract mathematical concepts, which directly translates to tackling economic models,  statistical analysis and Econometrics at the university level.

Similarly, participation in the John Locke Institute Essay Competition signals a student’s ability to engage in deep, critical thinking about economic issues. This prestigious competition requires students to construct well-reasoned arguments on complex economic and philosophical topics. For example, if a student wrote an essay debating whether inflation is always a monetary phenomenon or exploring the ethical implications of economic inequality, they could discuss in their personal statement how this experience refined their ability to assess economic theories and construct logical arguments. This experience is particularly valuable in Economics, where students must evaluate contrasting viewpoints, support arguments with empirical evidence, and present clear and logical conclusions. Winning or being shortlisted in such a competition would be a significant achievement, demonstrating not only academic excellence but also the ability to engage with Economics beyond the syllabus.

For applicants interested in entrepreneurship and real-world economics, participation in Young Enterprise is a highly valuable extracurricular activity as the ability to apply economic theories in a practical setting enhances a student’s understanding of business cycles, inflationary pressures, and financial markets, which are all critical areas in Economics. This program allows students to set up and manage a real business, making decisions about pricing, marketing, production, and finance. For instance, if a student had to adjust pricing due to fluctuating costs or respond to changes in consumer demand, they could discuss how their experience running a Young Enterprise company helped them understand microeconomic concepts such as supply and demand, market competition, and consumer behaviour. Additionally, leadership roles within Young Enterprise—such as being a financial director or CEO—demonstrate decision-making ability, teamwork, and negotiation, all of which are important for an Economics degree and future career in business or finance.

For candidates interested in financial markets and economic decision-making, the Investor Budget Challenges simulates managing an investment portfolio or making fiscal policy decisions, thereby helps students develop financial literacy, an understanding of capital markets, and the ability to interpret macroeconomic indicators. Participating in this challenge requires students to evaluate economic trends, interpret financial data, and make informed investment choices, all of which are directly relevant to an Economics degree. A personal statement could reflect on how tracking economic indicators, responding to stock market fluctuations, or making budgetary decisions provided valuable insights into macroeconomic policy and financial strategy. If a student successfully navigated a market downturn in the competition, this would be a compelling way to show adaptability in real-world scenarios.

For students interested in economic policy and international affairs, participating in Model United Nations (MUN) can be a significant asset, as it offers a unique opportunity to develop skills in diplomacy and economic policymaking. MUN requires students to present a country and research global economic issues, negotiate with peers, and defend policy positions in simulated UN debates. A student who took on the role of an economist or finance minister in an MUN conference could write about how this experience helped them understand international trade, economic development, and financial regulation. For example, if they represented a developing country and argued for debt relief or foreign aid, they could discuss how this experience deepened their awareness of economic inequality and global financial systems. MUN also hones ability to analyse policies critically, construct arguments logically and present ideas persuasively, all of which are valuable for future economists working in policy or international organisations.

6. Conclusion

A good conclusion to a personal statement should not simply restate what you have already said but instead leave a lasting impression. This can be done by expressing your excitement for studying the subject at university, how your understanding of Economics has evolved over time and your ambition to contribute to the field. Make it clear why you think you would be well-suited to an Economics degree and why you would make a great addition to the university’s student body. Finish off by recapturing your passion, curiosity and determination back to the motivations and long term goal established at the start of your personal statement.

By following these five top tips—understanding the test structure, mastering core mathematical concepts, developing problem-solving skills, practicing with past papers, and staying calm on test day—candidates can significantly improve their performance in the TMUA. With diligent preparation and the right mindset, students can approach the test with confidence and achieve a strong result that enhances their university application.

Are you ready to unleash your full potential through consistent practice? The choice is yours, and the possibilities are endless. Start today and pave the way for a brighter academic future! Stay Connected with Dickson!

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