Cornell CALS essay (My passion in economics)

Prompt:College of Agriculture and Life Sciences:
The College of Agriculture and Life Sciences (CALS) develops leaders committed to the improvement of life. Describe how your interest and related experiences have influenced your selection of major and how CALS will prepare you to be a leader in your chosen field.

Economics is my passion. I love its logic, its utility and most importantly its complexity. I've read the theories of Adam Smith and Karl Marx, the ideas of Malthus, Keynes and Friedman. I've watched documentaries and read countless articles, but I still want to know more.
It is impossible to deny that the field of economics is tremendously important to the world. Good policy making stemming from a more thorough understanding of economics will definitely make our world a better place. We can already see the benefits of cap and trade systems and tax incentives on the state of our environment. We can see a gradual increase in the quality of life among the world, especially in poorer nations.
However we can also see the impact of bad economic policy. The financial crisis we face now was caused by a lack of understanding. Hedge funds, subprime mortgages and the effects of credit default swaps were unknown and this resulted in poor regulation.
Some people have deemed economics to be a field of speculation and "fortune telling", but I feel this is far from the truth. One of the reasons I love economics so much is because of its firm rooting in mathematics. Much like engineering is an application of physics, economics is an application of mathematics. It is because of Cornell's strength in all of these fields that I want to study there.
My own leadership within my community has taught me the power of collaboration and a wide knowledge base. During my volunteering experience I have expanded and educated others about the local currency that exists in downtown Toronto. I have experienced both the nuances in creating and maintaining this local currency as well as growing and developing the organization. Through this I have experienced firsthand the need for both technical and managerial expertise.
I realize in today's worth everything is linked with each other. Gone are the days when a lone economist can sit alone and weave together a new theory to describe the world. With its accredited faculty and its emphasis on current events and interdisciplinary learning Cornell will prepare me to not only enter the world of economics, but flourish there as well.
I realize from its high selectivity that the people I will meet if I am accepted will be intelligent, enthusiastic and most importantly creative. From my own experience in my high school program (TOPS) I understand the importance of having friends and classmates who will challenge and inspire me.
At Cornell each of these aspects coupled with its rigorous curriculum and amazing extracurricular organizations make it a place where I can grow
 
Any suggestions on grammar or general mistakes you noticed.

And also does anyone know if the same person reads the engineering essay and the CALS essay?

Throughout your essay, it's pretty well done. But I think you need to rewrite a few sentences to make the essay smoothier.(Just my suggestion)

Economics is my passion.

However we can also see the impact of bad economic policy.

Gone are the days when a lone economist can sit alone and weave together a new theory to describe the world.(I didn't understand this part clearly, so try to make it easier to read for the audience)

And some corrections:
I suggest you interchange the position of the second and the third paragraph, that would probably make the essay better.

And make the last paragraph longer. sometimes people do that, and it seems like they have just make another paragraph for one sentence. It's not necessary.