Statement of Purpose
Applicant: xx    Program: Economics

Some students choose a specialty upon entering university and stick to it for the rest of their life because they truly love it. Others adhere to the choice despite their subsequent aversion to it, because they cannot prevail over their lethargy to made a change. Apparently, I do not fall into either of the categories. In failing to become a student in the first category, I somehow experienced a misfortune. Yet, in avoiding being a student in the second category, I have been fortunate, for by making constant adjustments, I am ever approaching the ultimate goal and my true interest with every step taken. The result of those adjustments is that I am now undertaking my MPhil in Economics at the University of xx, Australia. Economics is the true locus of my interest and it will remain my lifelong pursuit.

As a matter of fact, I have been making necessary adjustments as early as I was an undergraduate. Entering University of xx, I majored in English for Science and Technology in the Department of Foreign Languages. However, I realized that English was at best a tool rather than an end in itself. Therefore, after listening to a lecture by a renowned economist on the reform of China’s financial market, I chose to study Economics through auditing a systematic curriculum in the Economics Department and through intensive self-education— I would study late into night everyday and vacations and holidays became inconceivable luxury to me. Nevertheless, my hard efforts paid off. I acquired knowledge in basic economics theories and methodologies. With its heavily engineering background, our university emphasized intensive training in mathematics in undergraduate education, hence the level of difficulty of the mathematics courses I took was much higher than that for economics majors in other universities. Despite such difficulties, I still managed to be ranked No. 1 in all the mathematics subjects.

Shortly after completing my undergraduate program, I applied for a Master’s program at xx University, Australia, because I simply could not suppress my pursuit of economics study. I was admitted into a program in Commerce, majoring in Economics and Finance. With this program, I have gone a step closer to a standard western education in economics. Among a total of 10 course, I was awarded high distinction for 8 and distinction for 2, ranking top in 80% coursework and related assignments. My GPA was 91/100, with especially high scores in Advanced Macroeconomics, Advanced Microeconomics, and Economic and Mathematical Analysis. I attended those three courses together with doctoral students and my scores (97-point for all) exceeded all of them. My academic excellence was further indicated by the degree I obtained—Master of Commerce with Merit, only eligible to 4 out of a total of 122 graduates.

What I value most at xx University was the research experiences. From Sept. to Dec. last year, I served as research assistant to Dr. xx in Finance Discipline on the project xx. My duties included searching and collecting data, filtering the data sets for quality, performing a thorough analysis of the data, preparing a concise report on the data issues, and improving part of the methodology.

However, I knew that I was just halfway in my pursuit. Through a highly selective application, I was qualified early this year for a MPhil program in Economics at the Department of Economics, University of xx. My MPhil program is a combination of coursework and thesis-oriented research. Once again, I have excelled in coursework, with the highest score of 95 points in Macroeconomics. At the invitation from two eminent professors of the Department, I have been serving as their research assistant since Sept and Oct. With Prof. xx, I have been working on the project xx. Under Prof. xx, I am engaged in the project xx. Apart from applying my knowledge of economics, especially in Game Theory, I have been contributing my unique knowledge of China’s economy and my unique perspectives as a native Chinese.

Meanwhile, I have been performing my own research on the funding of Chinese private enterprises. While the private sector has been the most vibrant component of the Chinese economy, such enterprises have found it most difficult to secure loans from financial institutions. By constructing a general equilibrium model using Game Theory, I wish to explain the loan-obtaining behavior of private enterprises. The main contentions postulated by the model will be verified by statistic data and econometrical methods. My research findings will be incorporated into my Mphil dissertation.

Having traveled a long way in my academic journey, I am bent on reaching its summit—a Ph.D. program in Economics. My interest in Game Theory and my interdisciplinary background in finance and economics during my Master’s and Mphil programs have led me to choose the University of x x x  because not only your program but also the research interests of some of your faculty perfectly match my own. I would like to study the financial markets of the developing countries, with China as a typical case. More specifically, I would like to concentrate on studying the parallel development between the financial market and the economic growth, the effective and rationalized opening of the financial market, introduction and applications of financial derivatives. The cutting-edge research by your faculty will benefit me in terms of methodologies and perspectives and will equip me to seek employment with a government organization in China that may enable me to help formulate proper economic policies, especially in the area of financial market reform.

Looking back on my past academic pursuit, I feel proud of my ability to turn the negative into the positive. All the disadvantages have motivated me to persevere with extra efforts. In pursuing my real interest, I have experienced stimulating education in three most dynamic universities, giving me a diversity of useful perspectives. An indomitable will, sound academic performance, broad perspectives and the determination to excel as a economics researcher, those personal assets will be what I will bring with me to your program