STATEMENT OF PURPOSE

Statement of Purpose: Doctor of Philosophy in Financial Economics

Statement of Purpose: Doctor of Philosophy in Financial Economics

This is in support of my application for Doctor Philosophy programme with specialization in Financial Economics.

I am interested in the international/financial side of economics, specifically topics focusing on foreign currency, futures, international financial instruments, and foreign monetary policy. While searching for a suitable doctoral program, I became particularly interested in the University of Washington's Graduate Program in Economics.

Course work in advanced finance and computing theory will prepare me for higher levels of responsibility when making complex financial and portfolio management decisions. The successful application and implementation of advanced computing theory to complex financial and portfolio management problems will set the foundation for a career as a professional Real Estate and Financial Economist. My aptitude for graduate work is demonstrated through my excellent intellectual, academic and employment performance. A Doctor of Philosophy with a concentration in Finance at Oxford University will give me the necessary tools to program and design complex real estate finance systems and solve complex financial management problems.

Theoretical values on which developed countries' economic forms are based, as first articulated by Adam Smith in The Wealth of countries, illustrate the efficacy of markets where purchasers and sellers come simultaneously in adequate numbers to ensure free affray and with full knowledge of all the applicable information. Subsequent thinkers have identified, in addition to these two conditions often not applying, that there were other promise difficulties not accounted for such as external charges of purchaser and seller undertaking and the topic of public “goods” and “bads”. The issue of how to deal with these so-called “market flops” has formed the basis of much political argument over numerous years.

The financial part, possibly overhead all, was allocated this freedom on a world-wide scale during the 1980s and until the latest urgent situation, all seemed to be going sensibly well. What went wrong?

Most market-oriented economists presumed, and numerous regulators went along with the concept, that economic markets left to themselves would always are inclined towards a steady equilibrium that was in the general public's best interest. This is founded on two long-held financial principles:

The financial actors engaged, taking all applicable data into account, will make conclusions founded on reasonable expectations, which in aggregate will convey about a steady outcome.

The efficiency of free markets will double-check that prices are correct and contemplate market fundamentals.

With the advantage of hindsight, it seems that these economists had got themselves into a position where unseeing adherence to theoretical principles stopped common sense fact of what was actually happening. There were insufficiently mighty alternative investigates challenging the so-called “rational anticipations” and “efficient markets” hypotheses. Guiding beliefs are most convincing when they provide clear answers. In this case, accepted theory proposed that economic discovery by well-informed, rational actors would lead to correct charges and market stability and ultimately a safer system. In truth, petition concerns and ideology became intertwined. Deregulation became the policy norm and the CEOs of many financial organisations, based ...