University of Southern California - Dornslife college of letters, arts and sciences (statistics) - General graduate studies

Grad's guide to graduate admissions essays - Colleen Reding 2015

University of Southern California - Dornslife college of letters, arts and sciences (statistics)
General graduate studies

I have always had an affinity for math, numbers, and finding answers. I discovered I was a “left-brained” student sometime during middle school and took much pleasure in my calculus courses throughout high school. But never did I consider pursuing a career in mathematics until my quantitative studies at Georgetown University took my knowledge to a previously unknown level. I was able to apply my raw interest to higher order socioeconomic principles. It was through econometrics and applied statistics courses that I discovered my fascination for interpreting economic and social phenomena with statistical data and models. Statistics is the critical mathematical science used to summarize and explain data, and I relish the stories that statistics tell through measurable pieces of information. As a result of these stories, it provides an essential tool in any research realm, be it financial, psychological, sociological, economical, etc. In May 2010, I graduated from Georgetown University with degrees in economics and mathematics. Through this experience and my continuing interest in practical economics, I have come to realize the incredible utility a master’s degree in statistics from USC will provide beyond my present experience.

Specifically, my deeper goal in pursuing this graduate work is to gain an understanding of modern statistical theory and practices in order to pursue a career in an area of research I find particularly fascinating, behavioral economics. Behavioral economics is the observational study of how individuals act in the marketplace, regardless of what classical economic theory may dictate. As a statistician with a vested interest in this research, I would be an asset to companies, governments, schools, and households that require this type of analysis to make more informed and strategic fiscal decisions. My passion for research in business decision-making and behavioral economics primarily stems from self-study of books written by Dan Ariely, a pioneer in analyzing the role human irrationality plays within economics. While reading Ariely’s experimental work that examines many forms of human decision-making, I found myself particularly intrigued by his insight into how people reason with regards to financial choices. For example, in his 2003 study entitled, “Coherent Arbitrariness: Stable Demand Curves Without Stable Preferences,” Ariely presents convincing statistical evidence to indicate that traditional market demand curves do not often reflect true consumer preferences and pricing valuations, which are often determined by arbitrary variables. In this way and many more, traditional economic theory is limited in how it can inform real-time financial and marketing decisions. It has become apparent to me that observation of real human behavior is necessary to build off of this foundation. Rigorous analysis of human behavior requires the use of statistics. My role and contributions as a statistician, research analyst, and consultant will be valuable to many, including economists, politicians, entrepreneurs, and business owners.

Thus far, my academic experience in economics has been primarily theory-based. However, I have seen that this way of thinking can be very limiting in the actual marketplace through my extensive work experience as an assistant manager (and accounting guru) at lululemon athletica, an expanding, yoga-inspired athletic apparel company. The research conducted to understand the consumer behavior of its well-defined market niche and the statistical analysis employed to then create its effective business model are key to the company’s burgeoning success. My management position at the company allowed me to implement the findings of this process and directly experience the value it had. This work experience, along with my educational curriculum, helped to clearly define my next educational endeavor, a master’s degree in statistics.

I am drawn specifically to USC’s program because not only will it provide me with a strong statistics foundation, but it will also present unique interdisciplinary research opportunities that will prepare me for a career in applied statistics and quantitative research. In addition, I would be honored to study with Dr. John Doe focusing on financial mathematics, as well as Dr. Jane Smith from the economics department with research interests in behavioral economics. During my undergraduate career, I took a solid course load that has undoubtedly prepared me for graduate study in statistics and applied mathematics. I believe my natural quantitative abilities and ever-growing passion to apply knowledge of statistics and economics to specific research initiatives qualify me as an ideal candidate for the Master’s Program in Statistics at USC.