Economics Personal Statement (Azfar Azmi)

Azfar Azmi is currently studying Economics at University of Warwick. Azfar completed his A-levels at KTJ and is graduating in 2022.


The inception of my interest in Economics was a result of its unpredictable nature. I really like how everything within economics seems to be interconnected; whenever I learn a microeconomic theory it invariably touches upon macroeconomic theory. Areas I am especially interested in include currency fluctuations, instabilities and market valuation. This includes the rise, and perhaps fall, of cryptocurrencies such as Bitcoin, the unstable Argentine economy and Venezuela’s current hyperinflation, estimated to reach an astonishing 1,000,000% by December 2018, according to the IMF.

I am particularly fascinated by the fact that the US dollar is slowly losing its status as the leading global reserve currency, with the Euro and Yuan striving to overthrow it in the near future. From my independent reading, I feel that this is because the US is becoming increasingly indebted to China; as of June 2018, the figure stood at $1.8 trillion. US consumption of goods from China is also causing the Yuan to appreciate and strengthen, something that looks likely to result in a prolonged trade tariff war this year. However, I also understand that China’s plans for the Yuan to become the leading global reserve currency are hampered by the fact that it is not convertible; currently, it is difficult for countries to buy the Yuan as there are government restrictions placed on it. I think China has work to do, in relation to the Yuan’s convertibility, if it is going to make it the leading currency reserve worldwide.

Another intriguing issue I have enjoyed reading about is China’s economic relationship with Malaysia, my home country. Recently, the Malaysian Prime Minister visited China on a trip where the leaders made several bilateral trade and cooperation agreements. The two countries wish to increase trading which I am sure will provide great economic benefits to Malaysia. Moreover, the countries plan to increase tourism across both countries which excites me; more tourists in Malaysia could mean greater expenditure within the country, boosting the Malaysian economy and, in theory, this should cause a trickle down effect, benefiting the economy as a whole, resulting in job creation and economic growth.

Over the summer break, I attended a job shadowing programme at CIMB, one of the largest banks in South East Asia. During my time there I had fun developing many of my skills; I performed multiple presentations, specifically about Kredivo, an application that allows consumers to perform a buy-now pay-later service which I had to then compare to CIMB’s ‘goods-financing’, a similar service. I concluded that CIMB’s service only allows consumers to purchase goods on Lazada, whereas Kredivo could be utilised more ubiquitously. Through the research I did, I learnt that banks create such services to increase the amount of money consumers borrow from them in order make profit through interest charged, and also to encourage consumers loyalty, to encourage them to use the bank’s other services. At CIMB I also developed my interpersonal skills, interacting with people across departments, and I was given an insight into the corporate world, a field I hope to work in, in the future.

I have represented my school at football, rugby, athletics and cross-country across local and international tournaments. These experiences have taught me the importance of dedication, persistence and time management. Training for the National Athletics Finals, whilst also studying for my IGCSEs, meant I had to be disciplined and organised; I learnt how to quickly and effectively switch my focus between sports and studies, working hard to be successful in both.

I am a hardworking, perseverant and positive person who loves to learn. I am very excited about the prospect of studying at a top UK university and the challenges and opportunities that lie ahead of me.


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