Economics Bachelor of Sciences in Business Administration
Economics students benefit from a strong cross section of opportunities to explore and understand the wide variety of economic disciplines and concepts. Faculty members bring diversity of thought and theory to this major that touches on all aspects of business. It engages students at both the macro and micro levels of the marketplace.
Business Core Courses
Required (33 Credits)
MAN 4720 Strategic Management / Capstone
Required (7 Credits)
Restricted Electives (18 credits)
No certificates are offered for this major.
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
- Usually for credit
- Paid or unpaid
- Structured for learning
Economics Majors are unable to apply internship credit towards their major requirements.
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.
• Specialties Include: Micro, Macro, Financial, International, Organizational/Industrial, Demographic or Labor, Public Finance, Econometrics, Business
• Data Collection
• Research Analysis
• 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 masterÕs 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 bachelorÕs 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.
• Financial Analysis
• Commercial Banking
• Retail/Consumer Banking
• Credit Analysis
• 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.
• Risk Management
• Loss Control
• Actuarial Science
• Insurance firms
• 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.
• Industrial Sales
• Consumer Product Sales
• Financial Services Sales
• Services Sales
• Advertising Sales
• Customer Service
• Sales Management: District, Regional, and Higher
• For-profit and nonprofit organizations
• Product and service organizations
• 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.
|• 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
• Nonprofit organizations
• 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.
• 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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