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.


Core Business Courses – 2014/2015 Catalog
(33 credits)

2014/2015 PLAN OF STUDY

 

GEB 3031 Cornerstone Lecture
GEB 3031L Cornerstone Lab
GEB 3003 Career Research and Planning
GEB 3005 Career Search Strategy
MAR 3023 Marketing
GEB 3375 Intro to International Business
BUL 3130 Legal & Ethical Environments of Business**
ECO 3411 Quantitative Business Tool II
FIN 3403C Business Finance

MAN 3025 Management of Organization

MAR 3203 Supply Chain Management


GEB 4223 Business Interviewing Techniques
GEB 4004 Executing Your Career Plan
Graduating Semester:
MAN 4720 Strategic Management/Capstone

Required Courses – 2014/2015 Catalog
(7 credits)

ECO 3101 Intermediate Microeconomics
ECO 3203 Intermediate Macroeconomics
ECO 4902 Capstone in Economics

Restricted Electives (18 credits)

ECO 3223 Money and Banking

*ECO 3410 Mathematical Economics


ECO 3703 International Microeconomics

ECO 4303 History of Economic Thought


*ECO 4412 Econometrics


ECO 4504 Public Economics


ECO 4713 International Macroeconomics


ECO 4751 Law and Economics


*ECO 4934 Topics in Econometrics


ECP 3004 Seminar on Current Economic Topics


ECP 3203 Labor Economics

ECP 4303 Environmental & Natural Resource Economics


*ECP 4403 Industrial Org and Game Theory


ECP 4530 Health Economics


ECP 4013 Development Economics


Certificates

No certificates are offered for this major.


Internships

Economics Majors are unable to apply internship credit towards their major requirements; however, internships are available to all students at the University of Central Florida for elective credit through the Experiential Learning office, which works with all majors.

For help finding an Internship, please go to the Business Satellite Office of Experiential Learning, located in BA1, room 130. The phone number is (407) 823-5581 and the website is www.explearning.ucf.edu

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
  • Usually for credit
  • Paid or unpaid
  • Structured for learning

Careers

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.

 

Economics

Area

• Specialties Include: Micro, Macro, Financial, International, Organizational/Industrial, Demographic or Labor, Public Finance, Econometrics, Business
• Data Collection
• Research Analysis
• Forecasting
• Planning
• Consulting
• Policy Advising

Employer

• 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

Information

• 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.

Banking and Finance

Area

• Financial Analysis
• Commercial Banking
• Retail/Consumer Banking
• Credit Analysis
• Lending
• Trust Services
• Mortgage Loans
• Branch Management
• Operations Securities: Sales, Research

Employer

• Corporate finance departments
• Banks Credit unions
• Savings and loan associations
• Financial services institutions
• Federal Reserve banks

Information

• 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.

Insurance

Area

• Claim
• Underwriting
• Risk Management
• Sales
• Loss Control
• Actuarial Science

Employer

• Insurance firms
• Banks

Information

• 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.

Sales

Area

• Industrial Sales
• Consumer Product Sales
• Financial Services Sales
• Services Sales
• Advertising Sales
• E-commerce
• Customer Service
• Sales Management: District, Regional, and Higher

Employer

• For-profit and nonprofit organizations
• Product and service organizations
• Manufacturers
• Financial companies
• Insurance companies
• Print and electronic media outlets
• Software and technology companies
• Internet companies

Information

• 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.

Management

Area

• Areas and job titles vary by industry

Employer

• 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
• Self-employed

Information

• 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.

Education

Area

• Teaching
• Research

Employer

• Colleges and universities
• Secondary public and private schools

Information

• 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.


Curricular Learning Goals

UCF Economics graduates will be able to:

Discipline Specific Knowledge, Skills, Behavior and Values Outcomes

  1. Demonstrate the application of the principles, theories, and analytical methods of Microeconomics to analyze economic problems.
  2. Demonstrate the application of the principles, theories, and analytical methods of Macroeconomics to analyze economic problems.
  3. Demonstrate the ability to gather, evaluate, and use information pertaining to economic issues in ethical and legal ways.
  4. Demonstrate the application of statistical analysis methods and models to interpret economic data, and to draw inferences about economic behavior.
  5. Demonstrate the ability to draw insights about economic behavior from the application of algebra and calculus to economic problems.
  6. Apply economic principles and theories to analyze international economic issues.

Critical Thinking Outcomes

Demonstrate critical thinking by applying systematic and logical reasoning to evaluate and draw valid conclusions about economic problems.

Communication Outcomes

Demonstrate the ability to communicate economic ideas clearly and coherently, according to the conventions of written English.

Assessment of Economics Outcomes

These outcomes will be assessed using a variety of assessment methods, including:

  • ETS standardized field test in Economics (and subtests)
  • ETS iSkillsTM Assessment Test
  • Exam questions
  • Written assignments
  • Exit survey

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