My Application essay

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Throughout my life, I have had two great passions; that is, economics and helping my country. In the recent past, China has had one of the fastest growing economies in the world. Majority of China’s success can be attributed to growing business opportunities in Asia. Though great economic strides have been made in China, there is still a lot that needs to be done in order to propel the country to greater heights. I believe that business specifically aimed at augmenting the economy would be very beneficial to China at this point. I would like to study economics in the Duke Fuqua Masters of Management Studies (MMS) program so as to gain the requisite academic foundation to start a financial consulting company and to help the Chinese economy.

My love and interest in economics began at an early age. While in high school, I started an internet store that offered cyber services. My father, who is a successful business man, also inspired my passion for business. During summer holidays, I would work at his firm helping in whatever chore I could handle. Through these experiences, I was able to sharpen my business sense and gain a deeper understanding of economics and business in general. I was able to learn how companies operate and how to gauge the success of a company. I was also able to understand the dynamics of financial goods and services. It is through these experiences that I developed a great passion for economics.

Having witnessed the rapid economic growth of China, I realized that I wanted to be a part of its history. I wanted to be one of the contributors to the great advancement in China’s economy and global position. My passion for economics deepened when I started reading renowned books such as the “Wealth of Nations” by Adam Smith, Karl Marx’s theory on economics, and the Keynesian theory, among many other economic theories. These great economists and philosophers advanced various theories on economics that made me develop great interest in the subject. I also have a passion for mathematics that is a significant part of economics. Mathematics, unlike what most people believe, can be interesting and fun. It is fascinating to solve practical problems using mathematical formulae.

I know that the Duke Fuqua MMS program is rigorous and fast paced, but I am up to the task as I have honed my analytical and quantitative skills. This is evident from the tasks I performed during my undergraduate studies at Syracuse University. While pursuing my bachelor’s degree in Economics at the university, I was able to stress test portfolios and work out the VAR (value at risk) measurements. I can be diverse and am able to analyze various facts and present different perspectives. I also used a cleaned covariance matrix to come up with an efficient frontier. I was very passionate about both of these evaluations, quantitative economics and risk management. My passion for risk management will enable me to assess financial risk for many firms in the near future. It will also enable me to offer people and companies professional advice on risk management, especially in the long run when I open my own financial consulting firm.

I am passionate about the economics part of business because it is complex but at the same time very applicable and logical. After graduating from the Duke Fuqua Masters of Management Studies program, I intend to utilize my passion in economics and mathematics to work in the field of economic affairs. I believe that the Duke Fuqua MMS program will be instrumental for me in gaining the academic foundation, launching my career as an economist, and eventually, achieving my long term goal, which is to become a financial consultant. I greatly feel that given the opportunity to join the Duke Fuqua MMS program, I would be able to fulfill my obligation to myself and to serve my country as a competent economist, and help it in becoming a financial giant in the world financial system. I would achieve this through the knowledge that I would gain, and this would finally enable me make the best out of my education.       

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