Economics and Geography can work side by side, hand in hand, an unusual combination, as one would normally link Business and Economics as the ideal marriage. A concept I have been exploring since being inspired by my first Model United Nations conference in Thailand, whereby the debate was on how economic growth impacts the environment. It was here that I realised that Economics and Geography are closely linked. For me, Economics lies in its application in our daily life and the complicated but elegant way it works, ranging from vendors bargaining on the street to making smart decisions in the stock market. Geography on the other hand looks at urban developments, the environment and social impacts. One of my work experiences was with UN. I discovered the planning of a city requires a huge amount of data and information with few links with the economy. I like to consider it as Geo-economics and I believe, this is the way forward. I therefore want to have the opportunity to understand further these notions, discover, analyse, investigate and research into how we can make the World a better place for now and for future generations.
While studying both A-Level Geography and Economics, the links between the two started to become clearer, and I was able to understand more about how firms and governments balance themselves between economic and environmental regulations. Trade is the centre of global economy and geography plays a huge role, both socially and physically. The recent ‘Chinese – US trade war’ drew my attention, both sides have been firing at each other by imposing tariffs. As I explored more into this, I discovered with both countries here no one is better off, it is the consumers that will suffer from this war; the two countries are acting irrationally and both governments are pulling themselves further away from their economic goals. In a way, I think the world now is drifting away from ‘globalisation’ and moving to ‘nationalism’ again. China’s ‘One Belt One Road’ initiative in my opinion will reshape global trade, it is the most ambitious economic and diplomatic program that China has done, and it will be the largest platform for global collaboration.
In E. Glaeser’s ‘Triumph of the city’, he portrays how cities can grow rapidly or decline. It also focuses on the view of high wages, thus instead of being a boost for the economy, it can be a catalyst for rising inequality between deprived areas and the wealthy. Y. Varoufakis’s ‘Talking to My Daughter About the Economy’ looks at the simpler part of Economics, that Economics is a complicated drama, and it shows how this drama emerged and eventually dominated society. In answering questions such as inequalities, he said that economic growth can only benefits the rich, people with business experiences will make several millions easily, while for the poor even a thousand looks like an unreachable dream. I am investigating the effect of the Olympic Games on development in Wangjing, Beijing for my EPQ. The impact of urbanisation and creating a new CBD has increased the land value significantly since 2001, the year that Beijing was chosen to host the 2008 Olympics. However, I found out that this did not only bring benefits, but also caused problems such as disparity between the rich and the poor. Some local people cannot even afford to stay in Wangjing while migrants that saw the opportunity and settled their businesses in the area suddenly became millionaires. By doing the research, I realised that laws and regulations also perform important roles on the development of a city. It helped me to attain a more comprehensive view on many issues. For example, I learnt that economy and law are two integral parts of a well-functioning society. I have also watched LSE lectures online and regularly read the ‘Economists’, ‘Geographical’ and ‘Financial Times’ to expand my knowledge on Economics and Geography over the school syllabus.
All of this encouraged me to complete additional work experience with China Asset Management, this was where I gained a greater understanding of how firms operate, and I became involved in a mini project. Personally, I think Economics and Geography are fundamental in our daily lives, it does not only solve crucial issues in society but also explore answers to much bigger questions and thoughts.
I am one of the pupils that runs the Maths society as I believe Maths is essential for the understanding of Economics. Being a member of the Law, Economics and History society has helped me to build up my planning and organisational skills, developed my ability of working within tight schedules, strengthened my debating skills, encouraged extensive research and questioning techniques, team working and leadership qualities, all which are necessary skills to help me become a well-balanced and all rounded individual.