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The Job of Economic Policy Makers, Personal Statement Example

Pages: 4

Words: 1116

Personal Statement

Question 1

The knife is a valuable kitchen tool that is used to cut food items but it could also be misused to murder someone. Similarly, the job of economic policy makers is to improve the average life standards in the society but their irresponsible behavior may also lead to economic policies that destroy the livelihood and financial condition of millions. This is why people with power should carefully evaluate the potential implications of each action they take because with power comes responsibility and irresponsible use of power may inflict huge pain on others.

My grandmother was farmer who used to sell her fruits produce in the farmers market. She never used to set the prices herself which would puzzle me as to how prices were determined. I finally got the answer that the actions of both buyers and sellers would determine the prices. Every morning, she would ask me to walk around and do quick survey of prices being charged by other sellers. I noticed that when there were fewer sellers or large number of buyers, the prices would be higher on the average and vice versa. But on most days, the prices would be quite low which didn’t make sense to me, given the hard work done by farmers in growing their crops and then selling them. This experience taught me two major lessons. First of all, economic forces do not care about ethical aspects of business transactions. Second, the forces of demand and supply together determine the prices charged by the sellers.

One bad year, the drought damaged a significant amount of agricultural production and the victims included my grandmother, too. My grandmother had no choice but to increase the prices. I initially assumed that buyers would make their purchases as usual because prices had always been determined by the forces of demand and supply. I soon learnt that my understanding of economics was still quite basic. Many customers came to my grandmother’s store but returned without purchasing anything because they could not afford the higher prices. Unfortunately, the government did nothing to alleviate the problems faced by the farmers whose pre-drought income levels already quite low. The lack of response by the government so disappointed me that I wrote a letter to the Ministry for Food, Agriculture, Forestry, and Fisheries, requesting an explanation for their insensitivity to the problems of the farmers but didn’t get any response. But the experience did improve my understanding of economics that even the factors outside the actions of buyers and sellers also help shape the economy and convinced me that the government can play an important role in certain areas of the economy.

The forces of globalization have been increasing economic interdependence among nations day by day and South Korea is no exception. Trade agreements such as Free Trade Agreement (FTA) have put small-scale producers like my grandmother at further disadvantage because they lack the resources as well as an effective understanding of the ways global economy works. I believe South Korean government should spend more resources on educating local farmers and provide them funds to adopt latest agricultural best practices. In addition, international agreements should take effect gradually so that small-scale producers have the time to adapt to changing realities. This is also why I want to study economics so that I can help people with fewer resources like my grandmother better adapt to the forces of globalization.

Question 2

My favorite verse in the Bible is “You shall love your neighbor as yourself.” Which I first learnt in the 4th grade at Bible School during summer vacations. I had always enjoyed good relations with neighbors and was convinced that I am a good and responsible citizen until I first encountered “Xenophobia.”

South Korea is not as diverse at the U.S. and, thus, most of our perceptions about foreigners are shaped by the media. One of our school trips involved a visit to the U.S. Army Village in South Korea which almost convinced me that I would never meet or make a friend with non-Korean. I still remember meeting Megan, a 17 years old girl who would find my accent funny but always seemed ready to answer any question I might have. Megan didn’t mean to insult my accent but that was the first impression I got which further strengthened my perceptions of Americans as ignorant people. But after a while, I realized that cultural differences often lead to misunderstandings and Megan was actually a kind person with a cheerful personality. From my conversation with Megan, I also realized that people from different countries have more similarities than differences but we often focus on differences more.

After coming to Diablo Valley College (DVC), I joined International Student Club as a controller. As a controller, I didn’t only manage the club’s financial affairs but also had to interact with 160 members from a wide range of different countries. The insights I gained during a visit to the U.S. Army Village in South Korea helped me assist students with getting adjusted in a new environment. The bond formed among the international students in preparing for the International Education Week was a further proof that while people love their own culture, they are also willing to learn about other cultures.

I have a friend from North Korea who has come to America just a few months ago as a refugee. . We have enjoyed several discussions so far and it has been a painful realization that despite being the same Korean race, he had to go through so many difficult circumstances that I didn’t have to. Even though we are close friends, a history of bitter political rivalry between our countries has exposed both of us to several stereotypes and biases which we are now mutually trying to get rid of.

I believe we all can be friends and solve decades-long conflicts if we just focus more upon our similarities and less upon differences. I now consider myself a global citizen who cares about everyone no matter where they come from because we are human beings first and then something else. We are a different generation from our forefathers and have the right to create a better world for future generation where diversity is appreciated and cultural differences do not become sources of division and stereotypes.

Even though internet has increased communication among people from different countries, nothing substitutes interaction on personal level. This is why I support further increase in global trade because it will help the countries realize their interdependence upon each other and also give their citizens an opportunity to learn about other cultures. I had internet in South Korea, too but I would never have learnt the real value of cultural diversity without personal interactions.

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