Economics as One of the Most Important Social Science - Personal Statement Example

The micro level of economics concerns itself with the economic behaviors of individual people within an economy (Zweifel and Roland, 22). It is my great desire to have knowledge of elements of macro and microeconomics. This desire to have such knowledge was influenced by the internship program that I attended at AIA insurance company. It is important to denote that AIA is the largest insurance company in Hong Kong.

My internship experience at AIA was awesome. I joined the company without having any knowledge of how the insurance industry works, and its role in the economic development of a state. On this basis, my first goal was to learn about the importance of the insurance industry in the development of an economy. I also had some considerable interest in learning how to manage a financial institution. This is because financial institutions such as banking organizations play a great role in the economic development of a state. On this basis, efficient management of these institutions might result in the growth of an economy in general. At insurance, I had the benefit of learning the importance of insurance companies in an economy, and how to manage a financial institution. On the first day of my orientation, my supervisor explained to me the need for an insurance company in an economy.

An insurance company is a risk-mitigating institution of the various businesses that seek to take insurance coverage (Zweifel and Roland, 22). This was a very important lesson for me, and it greatly influenced my desire to have knowledge of other methods that business organizations can mitigate the various risks that they face. I can only get this kind of knowledge from economic classes. During my internship program, I worked at different departments of the AIA insurance company, and this was on a rotational basis. The departments that I worked at were the finance, organizational, management, and HR department. Since I was an intern, my work was mostly clerical. This included gathering data, and the preparation of documents to be used by the heads of the departments to which I was assigned.  

Despite this minor setback, my general internship experience at AIA insurance was fruitful. This is because I learned a lot about the importance of insurance company in a given economy. From this internship program, I learned that insurance companies are major players in an economy at the macro level. Without an insurance company, many businesses that exist might be unable to pool their risks, and as such, these businesses might fail. This is detrimental to an economy, as it will result in job losses and negative growth to the economy. In my desire to have more knowledge on other methods of mitigating risks in an economy, I decided to enroll for a major in economics. I believe in this class, I will not only knowledge on the macro level of economics but also on the micro level of economics.