Economics (CLAS)

Economics teaches students how to look at a complex world and make sense of the wide variety of behaviors they observe. Students majoring in economics will learn the analytical skills used to understand how households, firms and governments make economic decisions, comparing costs and benefits in an effort to maximize their objectives.

Overview

Students will learn the critical skills used to determine the implications of economic decisions for the allocation of society's scarce resources, the pricing of goods and services, the distribution of income, the behavior of macroeconomic variables and the need for government intervention.

Classes within the economics major span a broad spectrum of topics, ranging from international trade, labor economics, law and economics, economics of sports, game theory, public choice and more. The analytical skills developed in the major are useful preparation for careers in business, government, public policy or academia. A degree in economics is also appropriate for students intending to pursue advanced degrees in the social sciences and in professional schools of management, law or public administration.

Coursework for the Major

Students must achieve minimum grades of C in each required preprofessional and economics course, including the economics electives and outside substitutes.

Required Coursework

• MAC 2233 Survey of Calculus or
  MAC 2311 Analytic Geometry and Calculus I
• STA 2023 Introduction to Statistics I
• ECO 2013 Principles of Macroeconomics,
  ECO 2023 Principles of Microeconomics,
  ECO 3101 Intermediate Microeconomics *
  ECO 3203, Intermediate Macroeconomics
  * Students are urged to complete ECO 3101 in a timely fashion because this course serves as a necessary prerequisite for many of the economics electives.
• Four economics electives from
  ECO 3532 Public Choice,
  ECO 3704 International Trade,
  ECO 3713 International Macroeconomics,
  ECO 4400 Game Theory and Applications,
  ECO 4504 Public Economics,
  ECO 4730 The Firm in the Global Economy,
  ECO 4934 Special Topics,
  ECO 4935 Empirical Research in Economics Seminar,
  ECP 3006 Economics of Sports,
  ECP 3113 Population Economics,
  ECP 3203 Labor Economics,
  ECP 3302 Environmental Economics and Research Policy,
  ECP 3409 Global Telecommunications Strategy,
  ECP 3510 Economics of Education,
  ECP 3530 Health Care Economics,
  ECP 4213 Public Utility Economics: International Infrastructure,
  ECP 4330 Economics of Innovation, Science and Technical Change,
  ECP 4403 Government Regulation of Business,
  ECP 4451 Law and Economics,
  ECS 3403 Economic Development of Latin America
  ECS 4013 Economic Development.
• Students may substitute an approved course taught outside the department for one economics elective. Approved outside substitutes include:
  AEB 3450 Introduction to Natural Resource and Environmental Economics,
  AEB 4274 Natural Resource and Environmental Policy,
  AEB 4931 Agricultural Macroeconomics,
  ECO 4956 International Studies in Economics,
  ECS 4110 Africa in the Global Economy,
  ECS 4111 Africa in the Global Economy,
  FIN 3403 Business Finance
  GEO 3502 Economic Geography.
  An outside substitute used to satisfy the economics elective requirement will not double count toward the CLAS 3000-level elective requirement.

Course prerequisites are strictly enforced. A current listing of course prerequisites is available each term in 233 Byran Hall.

Recommended Coursework

Students planning to pursue graduate study in economics should consider a minor in mathematics or statistics or take the following mathematics and statistics courses:

• MAC 2311 Analytic Geometry and Calculus 1, MAC 2312 Analytic Geometry and Calculus 2, and MAC 2313 Analytic Geometry and Calculus 3
• MAP 2302 Differential Equations
• Either MAS 3114 Computational Linear Algebra or MAS 4105 Linear Algebra I, and
• STA 4321 Introduction to Probability and STA 4322 Introduction to Statistics Theory. (Students taking advanced statistics might not be required to take STA 2023.)

Overseas Studies

Students are encouraged to spend a semester abroad. The Warrington College of Business Administration offers several excellent study abroad programs that allow a student the opportunity to go abroad and still make progress toward his or her degree. Students are urged to contact the advisors in the Warrington College of Business Administration for more information.

Research

Working on research can be a valuable part of an undergraduate education. There are a limited number of spots for undergraduates to work with a faculty member on research and/or assist with a class. Students should ask their professors about this possibility; however, before approaching a professor, you should have completed ECO 3101 and at least one economics elective. Students selected for these limited positions must have very strong grades in all economics classes. More formally, ECO 4935 Honors Empirical Research, is available to honors students and seniors who have high grades and are interested in research and/or graduating with honors.

Critical Tracking

To graduate with this major, students must complete all university, college and major requirements. For degree requirements outside of the major, refer to CLAS Degree Requirements — Structure of a CLAS Degree.

Equivalent critical tracking courses as determined by the State of Florida Common Course Prerequisites may be used for transfer students.

Semester 1

• 2.0 UF GPA required for semesters 1-5

Semester 2

• Complete 1 of 4 courses from ECO 2013, ECO 2023, MAC 2233 and STA 2023 with a 2.5 GPA on critical-tracking coursework, excluding ECO 3101

Semester 3

• Complete 1 additional course of the 4 with a 2.75 GPA on critical-tracking coursework, excluding ECO 3101

Semester 4

• Complete 2 additional courses of the 4 with a 3.0 GPA on all critical-tracking coursework, excluding ECO 3101

Semester 5

• Maintain a 3.0 GPA on all critical-tracking coursework, excluding ECO 3101
• Complete ECO 3101 with a minimum grade of C

Recommended Semester Plan

Students are expected to complete the writing and math requirement while in the process of taking the courses below. Students are required to complete HUM 2305 The Good Life (GE-H) in semester 1 or 2. Students are also expected to complete the general education international (GE-N) and diversity (GE-D) requirements concurrently with another general education course (typically, GE-C, H or S).