Part 1
I am intending to major in economics. Economics is the social science which analyzes the production, distribution, and consumption of goods and services. Through the study of it I can learn and know how more about social and economic development and how governments measure the monetary and fiscal policy.
When I study in Chinese universities, I have read a lot of books on economy such as Principles of Economics by Mankiw, Price Theory by Friedman etc. And in my undergraduate course, I also majored in economics. In the period of learning economics, I feel that it is a magical thing. Because you learn a lot of skills and knowledge that you can apply to other jobs or to your personal life. Learning about interest rates, exchange rates, economic indicators and equity markets can help you make better decisions about investing and obtaining mortgages.
The statistical skills I gained I've used again and again, mostly in the daily life. Economics teaches me how to understand and spot secondary effects and possible unintended consequences. This can help you make better decisions about your personal life and make you more valuable to business; "what are the possible secondary effects from the proposed marketing campaign?" It likely won't help you get a job, but being able to spot and understand the importance of secondary effects, it may help you keep a job or earn a promotion that much faster.
So in order to apply the theory to practice, I choose to be a volunteer work to sell secondhand goods and use the money to help the poor students, in the daily study life, I also participate in student union where we talk about the effect of economy policy which taken by the government and we try to organize some debates to put everyone’s opinion. In the summer and winter holiday I go to the shanghai stock exchange for internship where I have learned a lot about how the capital market operates. And how capital markets influence the economy and the decisions of the government. In addition to this above, I have uses pocket money and lucky money to invest in stocks and have obtained 300 yuan on my investments.
Part 2
I have been very sensitive to numbers since I was a child, I usually went to buy food with my mother and I always could calculate the price in a few seconds. So my mother often praised me because of my cleverness. But I thought that a person in the society rely on not only cleverness but also cooperation and confidence.
The thing that I thought could show my cooperation and confidence was during my high school, I and my friends sold flowers before thee New Year’s festival. First, we investigated the market demand, to analyze where was the best place to sell flowers and attract customers. Then, we chose a corner of the flower market and according to the investigation we bought 300 roses. Second, we began to distribute tasks, one was in charge of the product out-going inspection and do the related records and reporting. Two were responsible for selling and marketing products, one was to take the money.
After the preparing, we began to sell. In the process, we found that there was something wrong with our selling strategy, because we were focus on all people who passed by our shop and it usually spent a lot of time and energy and could not get good effect. So that we thought we should change and we started to choose the young people as the potential customers especially the young couples. Because they had huge purchasing power and they were eager to decorate the room with the flower. After that we found that we had a good marketing strategy. But choosing the correct customer is only the first step, and in order to sell all the roses we should take some preferential measures.
And so as to improve the competition of our shops, we made the slogan to buy four and get one free. Or buy ten and get three free. Then we will get less money but because the storage of roses is short and after the day there will not be so many people here to buy flowers. So that it is wise to make small profits but quick turnover. In the end, we sold all the flowers and we got profit about one hundred yuan. In this case, through cooperation, we changed our marketing strategy and got a good result. In this case, everyone had their own job and we do not just focus on the profit, also think about the speciality of the goods, we thought we chose the right way to sell.
From the case, I begin to feel that it is important to learn economics and it has a great influence in my learning career in university. And under the influence of my parents and the case, I have developed a tough character and a keen interest in economics. I hope I can get into a good university and find a reasonable job in the future as a reward to support my future family and help individuals in real need. Also, I want to be a patient, considerate and useful person, and like my parents, I will be willing to commit to my study and my future career and sacrifice anything for those I care about.
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