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Economic policies usually involve conflicting objectives and can lead to unwanted outcomes.

For example, the European Parliament proposed a ban on slim and flavoured cigarettes to increase social welfare. In Poland, where I come from, the ban may create a black market and cause loss of jobs as about !" of all employed are connected with the tobacco industry. In the case of unemployment, it is interesting how the Polish economic system is different from the #ritish one$ to receive unemployment benefits, you must work for % months during a period of & months and are eligible to receive them for up to a year. In small towns, no new jobs are created so people fear being dismissed. If this happens, the benefits they receive do not allow them to provide a decent standard of living for their family and they are more likely to suffer from depression or fall into addiction. I found it interesting how economists presented in '(he )orldly Philosophers' had different ideas about the sources of profit. *icardo said that it came from ownership$ the landlord himself did not create wealth but he was paid a rent. +arx,s theory was that the product was sold at its true value but the labourer got paid just enough to get by. I think this is partly true and can be seen in the services sector. - hairdresser working for a large company earns less than the income she generates after deducting costs because the owner needs to turn a profit. .et a more insightful explanation was proposed by /chumpeter. 0e claimed that profit came not from exploitation of workers but because of innovation. - company that introduced new technology had access to cheaper means of production but could still charge the same price as before because they were still competitive. )hen other firms introduced the same innovation, the pioneer became less well off as he had to lower his prices because his price would no longer be competitive. In fact, profit is already included in the fair market price but the technological innovation lowers costs and increases profitability of a firm which is one of the reasons behind research and development. )hat makes Economics an attractive subject is its combination of the 1uantitative research needed to make predictions about the future with social studies. It explains changes happening all around the world, making it a science relevant to modern times. 2nowledge of +athematics, especially calculus, and /tatistics is vital to understanding Econometrics. /tudying +aths and Further +aths, I possess skills which I will be able to apply to new problems. +aths is also a subject that develops reasoning skills. 3ast year, I took part in the /enior (eam +aths 4hallenge. It was intellectually stimulating and inspiring but it also re1uired me to work in a team, communicate well and share my knowledge to find the solution. I am studying 4hemistry at - 3evel. 5uring the course, I have learnt to analyse things more thoroughly and carry out experiments. I became familiar with concepts of percentage yield and atom economy, and I understand how important it is to sustain scarce resources. (o productively spend time outside the classroom, I take part in extra6curricular activities. I have been chosen as my school team,s captain for (arget %.7 competition. I have attended 5ebating /ociety where I took part in discussions which made me think about matters from a different angle and try to find arguments even if I personally would not agree with them. I enjoy time spent in 4ookery 4lub too, learning learning how to prepare healthy and tasty food. I believe this a very useful skill for a university life. I am also a member of 4hapel 4hoir. /inging together gives me the sense of community and allows me to gain teamwork skills as we all have to synchronise in order to produce the desired sound. I am looking forward to deepening my knowledge of Economics, taking on the challenges of university life and playing an active part in the student community.