My IBDP Economics student, Bryan, filled out a questionnaire. Based on the answers he gave to that questionnaire, produce a university recommendation letter for Bryan.

Questionairre:

What was your favorite or most meaningful project, assignment, or experience in the class (think: IA, Field Trip, ECA....)?

The most memorable experience in economics class was when Mr. Watson used the Jeopardy game to help us review the contents we covered. As the activity was conducted in the first semester, I barely knew any of my classmates, but after cooperating with them in a team, I showcased the ability to bond with others quickly,  demonstrating the spirit of teamwork and exchanging ideas about what we studied in economics. Using the Jeopardy game as a way to break the communication barriers, I discussed economic concepts with my team members and realized that merely taking notes without understanding them was not enough. Thus, I developed the habit of constantly referring to my notes, which is essential for memorization and comprehension. Furthermore, this game has inspired me to study economics in a variety of ways, such as using Quizlet as a tool to memorize economic terms, thus not only stimulating my interest in economics but also improving my learning efficiency. Besides this, realizing the strength and advantages teamwork can bring me, every time before exams, I would initiate seminars with my teammates to discuss economic concepts. Working in groups enabled me to communicate with like-minded friends and improve my ability and grades.

What was your favorite unit or module in the class? Why?

My favorite part of the course is policies. Policies in macroeconomics broadened my horizon with bigger pictures. Viewing the economy as a whole helps me think outside the box, strengthening my critical thinking abilities. Moreover, I rarely get the chance to touch on policies and decision-making in microeconomics as well as real-life scenarios. So, I have always been curious about them, and the unit of the book certainly fulfilled my curiosities in this field of macroeconomics. Furthermore, using the concept of intervention in my economics IA, I gained a deeper understanding of demand-side and supply-side policies, which enabled me to comprehend government decisions in order to tackle issues such as recessions or inflations on a greater scale. Visualizing vague economic 
concepts and vividly showing real-life situations, such as the deflationary and inflationary gaps, the neo-classical module is especially vital in understanding which policy to utilize. I, therefore, interpreted that although economic modules may be hard to memorize, they are explicit reflections of the real economy. This is crucial because I can better seize opportunities when knowing what is going on in the global economy, enabling me to understand better and thus become a global citizen. 

Have you ever applied a theory or concept from the class in real life?

I have set up a business club of over 50 people named “Startup” outside of school with the aim of applying what I have learned in my economics textbooks to real-life situations. I have organized and led a business event that combines charity sales and charity bazaars, with all the donations received going to NGOs to help provide better education for left-behind children in rural areas of China. Through my studies of poverty and inequality, I have gained a great awareness of social issues and have been able to bridge the gap through my efforts. In addition, I used my microeconomics knowledge of compliment and substitution in the charity sale to attract consumers to consume both products by selling coffee and cupcake together, making the set meal cheaper compared to the price add up if consumers purchased them individually. Later, consumers were still enthusiastic when we sold half of the coffee and cupcakes. However, our supplies gradually became limited as we used up all the raw materials. With the aid of the demand-supply model learned in economics, I realized that we would earn more profit if we increased the price of the goods as our product was in scarcity. Hence, I raised the price for the set meal. Eventually, this bazaar turned out to be a great success with the aid of my marketing strategy from the help of theories I learned at school.
Have you done any extra reading or research in the subject beyond the homework or assignment the teacher gave you?

I studied further the concepts of inequality, poverty, and behavioral economics on a trip that combined business and charity. Going into the mountains, I helped local villagers sell organic rice. It was the first time I had been to such an underdeveloped area. Seeing they had no air conditioning or electricity in the summer, I realized the wealth gap. Therefore, with a passion for diminishing this inequality, I was motivated to devote my enthusiasm to helping the villages sell rice. In just one week, I dug into behavioral economics and market strategies and researched. In the end, we raised over $1500 for the villagers through a live webcast and a micro shop marketing tool. It is a wonderful feeling to give back to the community with knowledge. It is meaningful to me that online sales have become a sustainable and profitable way for them to grow. Even after the event is over, our help is still 
going strong. This experience has taught me that it is important to look at the world while keeping your head in the books. Seeing the big picture in a small way is a wonderful way to appreciate the meaning of learning. Overall, the knowledge from my economics textbook was a great inspiration and motivated me to study further.

What are the areas not in the syllabus you have explored in your spare time? If not, what would you like to explore?

I have explored the indifference curve module on my own. In my research paper “Effect of bride price on the Chinese marriage market,” I used the concept of the indifference curve to show two goods and aimed to figure out whether bride price will affect the marriage rate.
For example, this indifference curve I used in the research paper shows what women can gain before and after marriage. The left part of the graph focuses on unmarried women, with the y-axis representing their leisure time. If a woman is completely undesirable for marriage, she will have more freedom to control her own time, but if a woman is leaning toward marriage, she needs to spend time with the other half, which will take some of her freedom. The right part of the graph is about married women. The x-axis, the woman’s economic status, might increase when she becomes a wife. This is due to the bride price she gets, the income of her husband, and the positive synergies (the economic value of the emotional endowment, reduced solitary feelings, and so on) due to the marriage. On the other hand, her free time will be less because she might have to do housework, take care of the baby, and look after her husband’s parents. We can conclude that women get married because of the improved economic status, which makes bride price a pull factor in the marriage market.