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Master’s Degree in Economics, Saudi Arabian

I am a young man from Saudi Arabia who has a natural affinity with the study of economics. I am concerned that the field of economics is not given sufficient weight or importance in the Saudi academic world and I would like to work to change this by teaching the subject in Saudi Arabia in the future. I hope to labor to give greater prominence to the study of economics in our systems of higher education. I also hope to start my own enterprise in the future dedicated to helping people to make well-informed business and financial decisions.

 Surprisingly, for all its wealth, the study of finance and economics is not highly developed in my home country and there exists a naiveté about financial matters which has led to a number of scandals and misjudgments that have resulted in very substantial losses to individuals and institutions. These situations arose through dishonesty and/or a lack of basic financial and economic understanding. There are a growing number of business failures in Saudi arising from a lack of appreciation by entrepreneurs that the economy is no longer immune from problems in the global economy and to take account of this fact. The economy is also affected to some extent by the requirements that arise in an Islamic model of financial management, this imposes unusual constraints on those making financial decisions and its effects have not been fully explored or quantified. I hope to be part of the solution to these problems and seek entry to the program for this reason.

 My work in financial management has naturally required an understanding of basic economic theories. However the extraordinary circumstances applying in the last few years have persuaded me that a fuller appreciation of the larger macroeconomic ‘picture’ is required in order to permit me to assist individuals and companies to make properly informed financial and business decisions.

 My eventual goal is to set up a company devoted to providing high quality financial advice in Saudi Arabia and would include an economic research arm to assist in providing the most effective advice. It would also be my intention to undertake ongoing research and to teach economics at a Saudi university. While I am, naturally interested in ‘making a living’, I also seek to ‘make a difference’ by providing a level of expertise and service not available to individuals or small businesses at the moment in Saudi Arabia.

 The US is at the ‘cutting edge’ of economic study and research and I realize that it is necessary to study here to acquire the level of knowledge and the skill set that I seek and, ultimately, to share with others in Saudi Arabia. I have carefully researched the available Master’s programs and have concluded that the one offered by XXU is ideally suited to my purposes. The program emphasizes macroeconomic analysis and current research and it is exactly those areas in which I seek to acquire the advanced knowledge to enable me to achieve my goals. I am particularly interested in the Financial and Monetary Economics elective and in assisting in research in this area of study.

 While I cannot claim to be widely travelled, I did spend several months in England studying English and this had given me valuable insights into western culture. I have also happily worked, studied and socialized with people of various cultural and social backgrounds and look forward to extending these experiences within the program.

 I am aware that the program will attract many well qualified applicants and the committee will have difficult decisions to make. However I genuinely regard myself as an excellent candidate. I shall be able to share insights into the Saudi economy which will be of value to the academic community and also those acquired in my studies and work in financial management. My specific areas of interest coincide exactly with the curriculum offered which I hope will provide an assurance of my diligent and enthusiastic participation in the program.  It is my intention not merely to succeed in the program but to excel both for my own benefit and, ultimately, for the benefit of my country. 

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