Economics Bachelors of Science in Business Administration

 


The degree in Business Economics offered through the Department of Economics provides students with meaningful opportunities to learn analytical tools and economic theories in order to build critical thinking skills. In addition, students take other courses in the College of Business Administration, thereby ensuring that they have a broad exposure to all fundamental areas of business.

 

2015-2016 Curricular Plan of Study

Prior to orientation or 1st day of classes: Take Math Placement Test (MPT) and place into MAC 1105.

Fall (15 hours)

  • ENC 1101 Composition I
  • MAC 1105C College Algebra
  • ECO 2013 Macroeconomics
  • Cultural Foundation I
  • General Elective
Milestones
  1. Successful completion of MAC 1105

Spring (15 hours)

  • ENC 1102 Composition II
  • ECO 2023 Microeconomics
  • Social Science Foundation
  • General Elective
  • General Elective
Milestones
  1. Successful completion of ECO 2023

Fall (15 hours)

  • ACG 2021 Principles of Financial Accounting
  • SPC 1608 Fundamentals of Oral Communication
  • Historical Foundation I
  • Biological Science Foundation
  • General Elective
Milestones
  1. Successful completion of ACG 2021.

Spring (15 hours)

  • ACG 2071 Principles of Managerial Accounting
  • Historical Foundation II
  • ECO 3401 Quantitative Business Tools I
  • Physical Science Foundation
  • CGS 2100C Computer Fundamentals for Business
Milestones
  1. Successful completion of General Education Requirements.
  2. Successful completion of Gordon Rule Requirements.
  3. Successful completion of Common Program Prerequisites.

Fall (16 hours)

  • ECO 3411 Quantitative Business Tools II
  • MAR 3023 Marketing
  • FIN 3403C Business Finance
  • MAN 3025 Management of Organizations
  • ACG 3173 Accounting For Decision Makers
  • GEB 3003 Career Research & Planning
Milestones
  1. Completion of Primary Business Core at UCF with a minimum GPA of 2.0.
  2. Successful completion of GEB 3003.
  3. Declaration of major on MyUCF and admittance into the College of Business.

Spring (16 hours)

  • GEB 3375 Introduction to International Business
  • MAR 3203 Supply Chain and Operations Management
  • ECO 3101 Intermediate Microeconomics
  • Economics Restricted Elective
  • GEB 3005 Career Search Strategies
  • Business Elective
Milestones
  1. Successful completion of ECO 3101 and GEB 3005.

Fall (15 hours)

  • ECO 3203 Intermediate Macroeconomics
  • Economics Restricted Elective
  • Economics Restricted Elective
  • Economics Restricted Elective
  • GEB 4223 Business Interviewing Techniques
  • General Elective (2 credit)
Milestones
  1. Successful completion of ECO 3203 and GEB 4223.

Spring (14 hours)

  • ECO 4902 Capstone in Economics
  • MAN 4720 Strategic Management
  • BUL 3130 Legal and Ethical Environment of Business
  • Economics Restricted Elective
  • Economics Restricted Elective
  • GEB 4004 Executing Your Career Plan
Milestones
  1. Successful completion of all degree requirements for graduation.


Pre-Major

Admission to UCF does not equate to admission to the College of Business Administration (CBA). After receiving admission to UCF, students must qualify to be admitted to CBA and therefore all students enter the University as a ‘pre’ business major. This applies regardless of the specific business major a student intends to pursue. As a ‘pre’ business major, students will:

  1. Complete the General Education Program
  2. Complete the Gordon Rule requirements
  3. Complete the Business Common Program Prerequisites with a grade of “C” or better
    • MAC 1105 College Algebra
    • ACG 2021 Financial Accounting
    • ACG 2071 Managerial Accounting
    • ECO 2013 Macroeconomics
    • ECO 2023 Microeconomics
    • CGS 2100 Computer Fundamentals for Business
    • ECO 3401 Quantitative Business Tools I*

       

      *or STA 2023 Statistical Methods I and MAC 2233 Concepts of Calculus

  4. Complete the Primary Business Core at UCF (per major specific GPA requirements)
    • MAN 3025 Management of Organizations
    • MAR 3023 Marketing
    • FIN 3403 Business Finance
    • ECO 3411 Quantitative Business Tools II
    • ACG 3173 Accounting for Decision Makers

       

      Admission to the Economics major requires a minimum Primary Core GPA of “2.0” and a “C” or better in the first course in the intended major.

  5. Complete GEB 3003 Career Research and Planning. This is the first course in the Career Professionalism Series; it is designed to help students align their major and career interest.

The above five requirements are to be completed before beginning any Business major.


Internships

Internships are academic courses that allow students to apply classroom theory in a practical work setting and gain personal, academic and work competencies.

  • One semester
  • Major-related
  • Off-campus
  • 3 Credit Hours
  • Paid or unpaid
  • S/U Grade will be given
  • Does not count as a restrictive elective

Department of Economics internships are available to juniors and seniors majoring in economics and have a 2.5 GPA overall. The objective of the internship is to provide students the opportunity to gain valuable experience at an organization or company while receiving academic credit. The internship cannot be with your present company, unless it will be under a supervisor other than your present one. You are expected to work a minimum of 20 hours a week for the internship.

The Economics Internship Coordinator is Dr. Ernest Gibbs. The application form, College of Business audit sheet, resume and letter from the supervisor on company letterhead detailing major responsibilities, hours, etc., must be submitted to Dr. Gibbs two weeks prior to the start of the semester.

Progress Reports: submit three (3) one page memos (via fax, letter, or in person) summarizing the progress of your internship acknowledged and signed by your intern supervisor, due on 4th, 8th, and 12th week of the semester. Keep a diary of job-related activities, memos, reports, etc. that you prepare. The Final Report (7-10 pages) should include a summary of your work, skills you’ve learned, and skills and concepts learned at UCF that were applied as an intern.

Internships which work with all majors are available to all students at the University of Central Florida for elective credit through the Office of Experiential Learning.


What can I do with this major?

General Information and Strategies

  • Economics is a social science that researches people and how they use their resources with a focus on the economic well-being of society.
  • An undergraduate degree in economics can lead to many career opportunities. Students should clearly define their goals and seek experiences and skills necessary to reach those goals.
  • Some undergraduate programs are located in colleges of Business and others in Arts and Sciences. These may lead to either the B.A. or B.S. Career opportunities can vary slightly depending upon the particular degree and curriculum.
  • Most economist positions require masters or doctoral degrees in economics or a closely related field.
  • Economics can serve as good preparation for graduate programs in economics, law, public administration, international affairs, management science, or business.
  • Gaining relevant experience through part-time and summer jobs or internships is critical.
  • Important skills for economists to gain include: data acquisition and analysis techniques, critical thinking, report writing, competency with relevant software, and the ability to identify economic trends.
  • Learn about economics and business careers through research on internet sites and books, informational interviews of professionals, and exposure to work environments through shadowing, volunteering, or interning.
  • Get involved in student professional associations in field of interest.
  • Build and utilize a personal network of contacts. Once in a position, find an experienced mentor.

 

Area Employer Information
• Specialties Include: Micro, Macro, Financial, International, Organizational/Industrial, Demographic or Labor, Public Finance, Econometrics, Business
• Data Collection
• Research Analysis
• Forecasting
• Planning
• Consulting
• Policy Advising
• Consulting firms
• Research firms
• Private corporations in a variety of industries including but not limited to: Retail, Banking, Insurance, Mining, Transportation, Healthcare, Tourism
• Consumer goods manufacturing firms
• Federal government including but not limited to: Department of Labor- Bureau of Labor Statistics, Department of Commerce- Bureau of Economic Analysis and Census Bureau, Department of Agriculture- Agricultural Research Service, Department of State, Department of Health, Environmental Protection Agency – Office of Policy, Planning and Development, Securities and Exchange Commission, Small Business Administration, Congressional Budget Office, Federal Reserve System – Board of Governors, Legislatures
• Local and state government agencies
• Public utilities
• Trade associations
• Labor unions
• International organizations
• Most economics positions in the private sector require a masters or doctoral degree. Plan to specialize at the graduate level.
• Some entry level positions such as Research Assistant or Economics Assistant are available in government agencies for candidates with bachelors degrees, but more opportunities and the potential for advancement are available for candidates with graduate degrees.
• Approximately 50% of economists work for the federal government.
• Economists can specialize in a particular industry such as healthcare, transportation, or energy. Nearly all industries employ economists.
• Develop excellent quantitative, analytical, and computer skills along with the ability to communicate data and findings to people with less technical backgrounds.
• Supplement undergraduate curriculum with courses in math, statistics, computer science, business, and political science.
• Gain experience with survey design and working with large amounts of data.
• Become adept at making reports, creating charts and graphs, and writing findings clearly.
• Complete an internship with a government agency or market research firm.
• Read journals to understand the industry.
• Learn to work independently and to demonstrate a proclivity to problem solving.
Area Employer Information
• Financial Analysis
• Commercial Banking
• Retail/Consumer Banking
• Credit Analysis
• Lending
• Trust Services
• Mortgage Loans
• Branch Management
• Operations Securities: Sales, Research
• Corporate finance departments
• Banks Credit unions
• Savings and loan associations
• Financial services institutions
• Federal Reserve banks
• Build a solid background in business including finance, accounting, and marketing.
• Gain experience through part-time, summer, or internship positions in a bank or financial services firm.
• Develop strong interpersonal and communication skills in order to work well with a diverse clientele.
• Serve as treasurer for student organizations.
• Get involved with investment clubs.
• Earn an MBA for positions in investment banking.
Area Employer Information
• Claim
• Underwriting
• Risk Management
• Sales
• Loss Control
• Actuarial Science
• Insurance firms
• Banks
• Complete an internship with an insurance agency.
• Talk to professionals in the industry to learn more about claims, underwriting, and risk management. Many entry-level positions exist in these areas.
• Initiative and sales ability are necessary to be a successful agent or broker.
• Develop strong communication skills as many positions require interaction with others and the ability to explain information clearly and concisely.
• For actuary science, take additional courses in statistics and mathematics. Plan to take a series of actuarial exams to gain licensure from either the Society of Actuaries or the Casualty Actuarial Society. The type of insurance you deal with will determine which path to pursue. Most actuaries take these exams while working full-time, and the process takes several years.
Area Employer Information
• Industrial Sales
• Consumer Product Sales
• Financial Services Sales
• Services Sales
• Advertising Sales
• E-commerce
• Customer Service
• Sales Management: District, Regional, and Higher
• For-profit and non-profit organizations
• Product and service organizations
• Manufacturers
• Financial companies
• Insurance companies
• Print and electronic media outlets
• Software and technology companies
• Internet companies
• Obtain related experience through internships or summer and part-time jobs.
• Seek leadership positions in campus organizations.
• Work for the campus newspaper, directory, or radio station selling advertisements.
• Become highly motivated and well-organized.
• Develop a strong commitment to customer satisfaction.
• To deliver effective customer service, develop problem solving skills, self-confidence, assertiveness, and empathy.
• Learn to work well under pressure and to be comfortable in a competitive environment.
• Prepare to work independently and to be self-motivated. Plan to work irregular and/or long hours.
• Learn to communicate effectively with a wide range of people. Supplement curriculum with classes in interpersonal communication and public speaking.
Area Employer Information
• Areas and job titles vary by industry • Business and industry including: Banks and financial institutions, Retail stores, Restaurants, Hotels, Service providers, Healthcare organizations and hospitals, Manufacturers, Industrial organizations
• Local, state, and federal government
• Non-profit organizations
• Self-employed
• Take additional courses in management.
• Prepare to start in entry-level management trainee positions. Demonstrate initiative and leadership to get promoted.
• Gain experience through internships or summer and part-time jobs.
• Get involved in student organizations and assume leadership roles.
• Demonstrate an entrepreneurial spirit, a strong work ethic, integrity, and a sense of independence.
• Learn to work well on a team and develop strong communication skills.
Area Employer Information
• Teaching
• Research
• Colleges and universities
• Secondary public and private schools
• Earn a Ph.D. to teach in post-secondary institutions.
• Gain research experience by assisting a professor.
• Maintain a high GPA and secure strong faculty recommendations to get admitted into graduate school.
• Obtain teacher certification for public school positions. Earn additional certifications as it is unlikely that schools will hire teachers only for economics.
• Seek experience working with young people.
• Develop strong public speaking skills.

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