Chemical enginering Personal Statement Example | Topics and Well Written Essays - 1000 words

Chemical enginering - Personal Statement Example The ceremony was simply fascinating and the deep impression lasted for years. I realised that this was the turning point of every person’s life. A young graduated professional walks into the unknown to pursue his hopes and dreams in his future career. Also, I felt a sense of community while observing other students. The community I became eager to be a part of. I understood that this was a whole new level and I had to work hard to achieve it. It was my time to start planning my future and my life, to start thinking about my place in the society and the purpose of my life. I felt that I needed achievements that I could be proud of so that one day I would share my experience with future generations. I chose chemical engineering to be my intended major and my future career. I have great passion for science and technology because it is my strong conviction that they can be beneficial to people and improve the quality of life of each and every individual. Especially, I am intereste d in biofuel as the research in this area can improve the situation with global warming. Biodiesel is significantly more environment friendly then traditional diesel fuel. For example, while burning it produces less pollution and its engine behaviour it approximately the same as in case of traditional fossil fuel. However, the current biodiesel production technology is still not able to satisfy the needs of industry. The fact points out to the importance of research in the area and the development of new production methods. In this way I will be able to make my contribution into society and help people. In my life I had hopeless moments and I know what it feels like. My sister and I were raised only by my mother in Hong Kong. Because I was older, I had to take care of my sister during school time and our way home. She always turned to me in case of any problems. It significantly helped me to realize the importance of responsibility and develop my leadership skills. I also had to dev elop strong communications skills and the ability to fit into new environment while interacting with people substantially older then we were. I am proud of that because I did not turn to anyone for an advice doing everything on my own. I became independent in my views and developed the feeling that I can find a way out of almost any situation. We later moved to the US to start a new life. I absolutely agree with my mother’s decision because a person must always evolve both spiritually and as a professional. Also, it was a great opportunity to face new challenges and see what I really could do. Talking about chemical engineering, I am full of ambitions. By my example, I want to show everybody how we must push the frontier of knowledge. Showing outstanding leadership skills, highlight that it is never too late to better ourselves and persuade people to change their treatment of the environment. 2. Tell us about a personal quality, talent, accomplishment, contribution or experie nce that is important to you. It is my strong conviction that a person must try a number of part time jobs before entering college or university. It is very important to feel a sense of community you live in, develop skills necessary to fit in the group and be more social. Also, by working from an early age a person will become more responsible while making new contacts. It can help you develop vital characteristics that

Market Economics Essay Example | Topics and Well Written Essays - 1500 words

Market Economics - Essay Example Economists basically realize 4 kinds of markets i.e. perfect competition, monopoly, oligopoly and monopolistic competition. Under perfect competition the firms are numerous and the buyers have perfect knowledge of the current market situation and hence the sellers are known as price takers because no one buyer or seller can influence the market to charge their desired market price and hence have to sell products at the price where the market tends to clear. In this form of competition there are only short term profits because there are virtually no barriers to entry and hence when the demand increases there are supernormal profits to be earned for a short period of time because when other suppliers see that the industry is earning super normal profits they tend to move into the market to get their share of the market, this tends to increase the supply of the industry and the profit levels tend to decrease as more and more suppliers move into the industry. This type of earning of a sh are of the super normal profit is known as hit and run competition because suppliers move in when the industry is earning super normal profits and leave as soon as the super normal profits are not earned any more due to increased supply. In conclusion a firm in perfect competition is a price taker because of the perfect knowledge and the number of firms and the output decisions are influenced by the demand of the goods and the number of suppliers. Monopolies consist of only one firm in the industry which is the sole supplier of the goods for that particular industry. Such a situation emerges when the firm has total control over the resources that are needed to produce that particular good in this case it is known as a 'natural monopoly'. The other scenario could be that the firm could have set very high or very rigid barriers to entry and hence no other firm can break through these barriers to gain entry into the industry. The monopolistic firm can control either of the two things at a time a) the price of the good b) the quantity that they wish to sell The monopolist cannot control both because he cannot control demand, if he wishes to sell the product at a certain price then the demand curve for that industry or that good would determine what quantity of goods are sold at that particular price and if he wishes to sell of a particular quantity then the demand for that good would establish the price at which the good would clear the market. The monopolist power to influence price depends upon two factors: a) the number of substitutes b) the power to restrict the entry of the firms into that particular industry Monopolistic competition is one where there are a large number of firms in the industry producing similar products but no two products are the same hence the concept of brand image and quality is catered to in this market structure and hence products are differentiated, the firms are price makers. In order to change the price firms will have to tinker with the level of quantity. The monopolistic competition market earns normal profits in the long run because there are very few barriers to entry into the in