Sample Statement of Purpose
I am using this means to tender my application for the Master of Applied Economics and Policy at the University of Windsor for fall 2023. My academic background and work experiences have led me to this point in my career where I am positive that I can prosper in this program.
My initial curiosity about economics stem from finding myself in day to day situations that require making decisions when faced with alternatives and making choices among those alternatives. In high school, I was faced with the alternative of studying Economics or Biology. Little did I know that making the choice of Economics would set in motion a chain of events that would bring me to this point in my life. Studying economics in the high school provided insight to how economics features in almost every aspect of life. It was at that point my interest for Economics developed and I decided to study Economics at Covenant University, Nigeria where I graduated with a second class upper division in 2014. Majoring in Economics provided me with a greater understanding about economic concepts and the real life implications within the Nigerian economy and the world at large. Studying Micro economics and Macro economics gave me an insight to how the economy as a whole functions and how important economic growth is to the society as a whole. Studying econometrics helped me understand how statistical techniques can be used to understand economic issues.
After graduating from Covenant University, I worked at First Bank of Nigeria where I worked in the Foreign Exchange Department and was able to apply numerous concepts I learnt as an undergraduate. Working with the company gave me a first-hand view of how the forces demand and supply affect currency prices just like other commodities. Demand and supply are some of the factors that determine the exchange rate for currencies in the foreign exchange market. When the demand for a particular currency increased, its price rises in relation to others. This practical understanding of basic laws of demand and supply has led me to wanting to know more about the application of economic theories in the real world of business and governance.
In 2015, I partook in the National Youth Service Corps (NYSC) scheme in Nigeria. NYSC is a scheme set up by the Federal government of Nigeria to involve the country’s graduates in the development of the country for one year after graduating from tertiary institution. I was posted to the Ogun State Fire & Safety Unit . The unit provides rescue from life threatening emergencies such as fire outbreak, accident, robbery, collapsed building, rioting and any other emergency related cases. I provided first level support to customer’s challenges via telephone by getting the relevant information and escalating it to the relevant agencies that would provide the needed support for the customer. My experience gave me a better perception of what people go through daily and this showed me the importance of giving back to one’s community. This has also impacted my career objectives as I hope to attain a position in a private, international or governmental organization that initiates and implements economic policies for the national and global economic development.
I am currently working at GTBank Plc as a Relationship Officer. I was employed in May 2016. One of the conditions for employment was completion of the GTBank Plc School of Banking which commenced in November 2018. The curriculum of GTBank Plc School of Banking comprised of soft skill courses such as Advanced Study Skills, Personal Effectiveness and Effective Goal Setting. It also comprised of core courses such as Micro & Macro Economics, Elements of Banking, Insurance, Accounting, International Trade & Finance, Credit Analysis, and Investment Market & Strategies. The courses lasted for a maximum of 6 days after which exams were taken. After concluding the training, I took the professional exam of the Chartered Institute of Banker’s of Nigeria and qualified as a Charted Banker. Working with a bank has shown me the importance of policies and regulation which can lead to economic growth. The banking sector is the main channel through which financial development can affect economic growth.
I have decided to study at the University of Windsor because of the reputation it has for quality and high standard education, especially in Economics. The Master of Applied Economics and Policy provides the necessary tools and skills required for achieving my career objectives as an Economist. The unique combination of courses would prepare me for a career in the field of economic policy, its initiations and implementation not only in my home country, or Africa, but globally as well. The challenges facing my country and indeed Africa is that of translating economic theories and policies into practice to bring development and impact lives in the areas of finance and money management, manufacturing, technology and international trade. I intend to make a difference following my course in your institution. The diverse environment of the University of Windsor would help familiarize me with a different culture and provide international experience required to actualize my dream. Most significantly, the program would provide a challenging environment in which I can associate with brilliant minds, receive good education and also contribute to the academic knowledge and research.
Looking forward to the potential opportunity of being a student of the masters of of Applied Economics and Policy at the University of Windsor and I believe it will provide me with a platform to not only build a career in Economics but also, a chance to become a proud alumni of this great institution.