Introduction
Economics and finance were natural choices for my professional path, given my upbringing in a family where both parents worked in the financial industry. After completing my rigorous undergraduate studies in Economics and Finance at the University of Hong Kong, I pursued my Master’s degree in Economics in Boston. Now, I seek to deepen my knowledge and skills by earning a Ph.D. in Economics at XXX University, a program that perfectly aligns with my academic interests, career goals, and personal fit.
Personal Statement of Purpose for the PHD in Economics
Since both of my parents worked in the financial industry, economics and finance were natural choices for my professional preparation. Having made my way through a rigorous undergraduate program at the University of Hong Kong in Economics and Finance, and then came to America to earn my MS Degree in Economics in Boston.
I now hope to be able to earn the PHD in Economics at XXXX University. I especially look forward to attending XXXX because I am the best fit with your curriculum, the structure of your program, and the location.
Game theory as it relates to the field of industrial organization is central to my professional fascination and I keenly look forward to taking courses in this area in my graduate study, to complement what I have learned as an undergraduate. I hope to earn a doctoral degree in economics. Although I have struggled with some of my classes, my grades steadily improved as an undergraduate student. Soon, I found myself taking mathematics and statistics classes as an undergraduate. I was not intimidated and kept taking advanced classes and obtaining several A grades. My interests thus far have lain primarily in industrial organization and development economics, especially their potential to contribute to public policies. In the future, I hope to become more competent in research, gaining advanced knowledge because of completing a PHD program. At some point I hope to become a professor and researcher at the university level.
My interest in the field of industrial organization originates from my interest in game theory. My father is a huge fan of the famous chess game GO, and I am quite familiar with the word “strategy” because of this game, but it was until I watched A Beautiful Mind, the biographical film of John Nash, that I savored its mathematical meaning. I was fascinated by those concepts of strategic interactions among individuals. In my undergraduate study, I took a game theory class and authored an A-grade essay utilizing the model of the multi-player repeated game. That was the first time I authored a theoretical paper and got compliments on my mathematical work. I have great interest in the extensive use of game theory in both industrial organization and economics and I want to continue at the doctoral level, with special attention to my native China.
When I traveled to Tibet area as a member of a teaching support team, development issues began to dominate my attention. Living with a local family, I found that although the students I taught were the same age as me, their living conditions were much worse than what I enjoyed back home. I became more fully aware of the economic disparities that characterize greater China and I began to see and reflect upon education as a basic human need alongside the most fundamental resources like food, water, and shelter. I came to understand how the state could more effectively manage rural areas to ease poverty but fails to do so and I concluded that the poor in the countryside subsidize the wealthy in the cities and that this is implicitly official government policy. The PHD Program at XXXX University is ideal given the interest in China in your department with several professors devoting special attention to China in their research.
By the time I began working on my master's degree in the US, I began to see my future more clearly, as a researcher, an academician, and as an economist. I accepted an internship position in a government agency in China in charge of the design and strategic positioning of a new district in my hometown Shenzhen, a coastal city sharing a border with Hong Kong and home to immigrants from all parts of China. There, I had the opportunity to work with researchers from universities to review government reports regarding the future development plans for the marine economy and specifically the biomedicine industry. I participated in the enterprise survey design and completed on-spot investigations in a variety of firms. I could see the real-world application of what previously had felt like computer-based “brain work.”
I have worked as a research assistant helping professors with data collection, cleaning, and visualization. The research projects have mostly been in international trade and the association between Covid-19 and school calendar dates. In addition to regular coursework, I have also undertaken my own research on the effects of Covid-19 on the online education industry, using a random-effects model.
These experiences have not only helped to familiarize me with the research process, and to whet my appetite for continuing to learn in terms of research methodologies as well as specific programming skills to carry out research independently. I believe the intensive training that I will receive through the completion of the PHD Program at XXXX University represents the optimal springboard for my professional future as a devoted researcher.
Completing several internships has helped me to become and especially well-organized and detailed-oriented person, an honest communicator and a willing collaborator. I give my all to every project that I undertake.
I also love Chinese traditional painting, table tennis, and see the arts and sports as crucial to the cultivation of one’s temperament, contributing to one’s professional as well as personal success in life.
I thank you for considering my application to the PHD Program in Economics at ____ University.
Detailed Analysis of the Personal Statement for a PhD in Economics
Introduction and Background
The statement begins by grounding the applicant's interest in economics and finance within their family background. This context establishes a logical and organic connection to their choice of study, which is beneficial for demonstrating long-term commitment. However, the introduction is relatively brief and lacks depth in terms of articulating what specific experiences or early influences within their family sparked an intellectual curiosity in economics.
Strengths:
The familial connection gives a personal touch and provides a natural entry point into the academic journey.
The reference to the University of Hong Kong and a master’s degree from the US adds credibility and establishes the applicant’s academic credentials.
Weaknesses:
The applicant could expand on how their parents' work specifically shaped their understanding or passion for the subject. More personal anecdotes or reflections could make this introduction stronger and more engaging.
The transition from undergraduate to graduate studies is somewhat abrupt. A brief mention of key academic or professional milestones during this transition would provide a smoother flow.
Interest in PhD Program at XXXX University
The applicant expresses a strong interest in game theory and industrial organization, which they view as central to their career ambitions. They attempt to align their research interests with the program at XXXX University. While this is essential, the expression of "best fit" with the curriculum is generic and lacks detailed information about why the program at XXXX University is particularly well-suited to their goals.
Strengths:
Clear mention of academic interests, particularly game theory and its applications in industrial organization, is well-placed. These interests are articulated clearly, and the applicant connects them to previous coursework.
Reference to the future goal of becoming a professor and researcher at the university level demonstrates a clear career trajectory.
Weaknesses:
The claim of "best fit" with the program needs to be substantiated with specific details about the university’s curriculum, faculty, or research opportunities. Mentioning particular professors or research centers could strengthen this argument.
The mention of struggling with certain classes should be reframed. Instead of focusing on past struggles, the applicant could highlight resilience, work ethic, or a more strategic approach to learning difficult material.
Interest in Game Theory and Industrial Organization
The applicant shows a strong fascination with game theory, stemming from a personal interest in strategic games and further reinforced by watching "A Beautiful Mind." This section is well-written and draws an effective connection between a personal interest (strategic games) and academic passion.
Strengths:
The reference to "A Beautiful Mind" adds an interesting personal angle, humanizing the applicant’s intellectual journey.
The mention of receiving compliments on their mathematical work in a game theory essay highlights both competence and recognition from academic peers or instructors.
Weaknesses:
The transition from personal interest in game theory to research in industrial organization is not fully fleshed out. The applicant should connect these fields more explicitly, explaining why game theory has practical value in industrial organization.
The brief anecdote about game theory could be expanded with more discussion on how the applicant applied these concepts in other areas of economics or how it shaped their understanding of broader economic principles.
Experiences in Tibet and Interest in Development Economics
The applicant’s experience teaching in Tibet reveals a significant shift in their focus towards development economics and public policy. This section is critical in adding depth to their understanding of economic disparities, and it introduces an important dimension—applying economic theory to real-world social issues.
Strengths:
The vivid description of teaching in Tibet and observing economic inequality provides strong emotional appeal and demonstrates a real-world application of their academic interests.
The linkage of this experience to broader economic policies (rural poverty and economic disparity in China) adds depth to the applicant's academic aspirations.
Weaknesses:
The discussion of this experience could be tied more directly to their research goals in the PhD program. The applicant could mention how these observations in Tibet would influence their future research in development economics.
The section would benefit from further elaboration on how they plan to apply development economics to contribute to policy reforms, particularly how a PhD will equip them to address these disparities.
Research Experience and Future Aspirations
The applicant highlights significant research experience, particularly their work with professors and government agencies. This section helps demonstrate technical competency in research methodologies and an understanding of real-world economic issues. However, it lacks depth in explaining the specific skills gained and how they will transfer to the PhD level.
Strengths:
The description of working on enterprise survey design and reviewing government reports showcases applied economics experience, making the applicant stand out as someone with practical research skills.
The experience in data collection, cleaning, and visualization adds a technical element that is crucial for PhD research.
Weaknesses:
More specifics are needed regarding the research methodologies and programming skills they used during these experiences. Did they develop any econometric models? What statistical tools were used? Detailing these experiences would add technical depth.
The mention of the research assistant role could be expanded to include examples of research challenges faced and how the applicant overcame them.
Personal Qualities and Extracurricular Interests
Towards the end, the applicant adds a personal touch by mentioning hobbies like Chinese painting and table tennis. While these interests are relevant for demonstrating a well-rounded personality, they feel somewhat disconnected from the rest of the statement. These sections could be better integrated or condensed.
Strengths:
Mentioning personal interests such as painting and sports adds dimension and shows a balanced life outside academics, which is often appreciated by admissions committees.
Weaknesses:
The discussion of hobbies feels slightly disjointed from the rest of the narrative. A more seamless integration into the academic narrative—perhaps connecting these activities to discipline, focus, or teamwork—would make this section more effective.
Conclusion and Final Remarks
The conclusion of the statement is respectful and professional, thanking the admissions committee for their consideration. However, it lacks a strong, impactful closing that ties the entire statement together.
Strengths:
The tone remains respectful and professional throughout, leaving a positive final impression.
Weaknesses:
The conclusion could reinforce the key themes discussed in the statement, summarizing how the applicant’s academic journey, research experience, and personal motivation make them an ideal fit for the program. A more compelling closing would leave a lasting impression.
Overall Strengths of the Statement:
Demonstrates a solid academic foundation in economics, with clear research interests and a strong desire to continue at the PhD level.
The applicant has relevant practical experiences, particularly with government agencies and research teams, making them a credible candidate for doctoral studies.
The statement is well-structured and flows logically from one section to the next.
Areas for Improvement:
Provide more specific details about how the applicant aligns with the curriculum and faculty at XXXX University.
Expand on technical research skills and how these will support the applicant’s PhD studies.
Strengthen the narrative by weaving personal experiences more consistently with academic goals.
Reframe sections that mention struggles with coursework by focusing on growth and resilience.
Additional Resources
Personal Statement of Purpose for the PHD in Economics
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