Overview
Major Area of Specialization in Economics (People & Society or STEM)
The BSBA in Economics equips business students with solid economic theories and econometric techniques supporting critical thinking to deal with a wide range of modern economic problems. Economics majors are successful in a large variety of careers: corporate world, consulting, government, not-for-profits, international agencies, law, as well as graduate studies and academic roles.
Miami Herbert Business School students who wish to pursue the Economics major area of specialization will choose between two tracks: Political Economy (P&S) or Quantitative Economics (STEM). In the Political Economy track, People and Society courses are predominant. In the Quantitative Economics track, Science, Technology, Engineering, and Mathematics courses are predominant.
Curriculum Requirements
In addition to satisfying the University General Education Requirements and Electives, students pursuing the BSBA in Economics must complete the BSBA Business Core and the specific coursework for one of the Economics major tracks as follows:
| Code | Title | Credit Hours |
|---|---|---|
| General Education Requirements 1 , 2 | ||
| Written Communication Skills: | ||
| WRS 105 | First-Year Writing I | 3 |
| WRS 106 | First-Year Writing II | 3 |
| or ENG 106 | Writing About Literature and Culture | |
| Quantitative Skills: | ||
| Calculus I (fulfilled through the BSBA business core) | ||
| Areas of Knowledge: | ||
| Arts and Humanities Cognate | 9 | |
| People & Society or STEM Cognate (9 credits) (fulfilled through the major) | ||
| STEM or People & Society Cognate (depending on which one is fulfilled through the major) | 9 | |
| Additional Requirements | ||
| UMX 100 | The University of Miami Experience | 0 |
| Electives | 15 | |
| BSBA Business Core Requirements 1 | ||
| ACC 211 | Principles of Financial Accounting | 3 |
| or ACC 221 | Accelerated Principles of Financial Accounting | |
| ACC 212 | Managerial Accounting | 3 |
| or ACC 222 | Accelerated Managerial Accounting | |
| BSL 212 | Introduction to Business Law and Ethics | 3 |
| BTE 210 | Fundamentals of Business Technology and Innovation | 3 |
| BTE 320 | Python Programming: Fundamentals and Algorithms | 3 |
| BUS 150 | Business Analytics | 3 |
| BUS 300 | Critical Thinking and Persuasion for Business 3 | 3 |
| ECO 211 | Principles of Microeconomics (Microeconomics) | 3 |
| ECO 212 | Principles of Macroeconomics (Macroeconomics) | 3 |
| FIN 302 | Fundamentals of Finance | 3 |
| MAS 311 | Applied Probability and Statistics (minimum grade of C- required) | 3 |
| MAS 312 | Statistical Methods and Quality Control | 3 |
| MTH 161 | Calculus I (minimum grade of C- required; fulfills Quantitative Skills Requirement) | 4 |
| MTH 162 | Calculus II | 4 |
| MGT 100 | Managing for Success in the Global Environment | 3 |
| MGT 199 | Professional Development and Success in the Workplace (or other approved Miami Herbert Business School career course) | 1 |
| or BUS 211 | Professional Development for Finance and Accounting | |
| MGT 303 | Operations Management | 3 |
| MGT 304 | Organizational Behavior | 3 |
| MGT 401 | Strategic Management (must be taken in the final semester) | 3 |
| MKT 201 | Foundations of Marketing | 3 |
| or MKT 301 | Marketing Foundations | |
| Quantitative Choice - Select one of these suggested courses approved by the Vice-Dean for Undergraduate Business Education - check pre-requisites: | 3 | |
| Object-Oriented Programming | ||
| Database Management Systems | ||
| Applied Econometrics (may not double count as both the Quantitative Choice and a major choice unless Economics is an additional major) | ||
| Mathematical Economics and Applications (may not double count as both the Quantitative Choice and a major choice unless Economics is an additional major) | ||
| Introduction to Optimization and Decision Making | ||
| Stochastic Models in Operations Research | ||
| Computer Simulation Systems | ||
| Supply Chain Modeling and Analysis | ||
| Supply Chain Strategy | ||
| Major Area of Specialization in Economics 4 | ||
| Choose either Political Economy or Quantitative Economics. | 18 | |
| Political Economy Track Required Courses (People & Society) : | ||
| Principles of Microeconomics (taken as part of the Business Core) | ||
| Principles of Macroeconomics (taken as part of the Business Core) | ||
| Microeconomic Theory | ||
| Macroeconomic Theory | ||
Major Choice Courses (P&S) - Select four courses (12 credit hours) from the following: 5 | ||
| Public Economics | ||
| Labor Economics (I) | ||
| Industrial Economics and Public Policy | ||
| Environmental Economics | ||
| Economics of Development | ||
| Latin America, the Caribbean, and the Global Economy | ||
| The Political Economy of Growth | ||
| Health Economics | ||
| Monetary Economics | ||
| Economic Growth | ||
| International Trade Theory | ||
| International Monetary Economics | ||
| Economic Analysis of Energy and Commodity Markets | ||
| Global Economics: Trade and Currencies | ||
| Directed Studies in Economics | ||
| Special Topics in Economics (People and Society Topics) | ||
| History of Economic Thought | ||
A maximum of two courses (6 credit hours) of major choice courses may be selected from the following STEM courses: 5 | ||
| Applied Econometrics | ||
| Game Theory in Economic Applications. | ||
| Industrial Organization | ||
| Directed Studies in Economics | ||
| Special Topics in Economics (STEM Topics) | ||
| Mathematical Economics and Applications | ||
| Empirical Labor Economics | ||
| Topics in Mathematical Economics | ||
| Advanced Econometrics | ||
| Advanced Macroeconomic Theory | ||
| Advanced Microeconomic Theory | ||
| Quantitative Economics Track Required Courses (STEM) : | ||
| Principles of Microeconomics (taken as part of the Business Core) | ||
| Principles of Macroeconomics (taken as part of the Business Core) | ||
| Microeconomic Theory | ||
| Macroeconomic Theory | ||
Major Choice Courses (STEM) - Select four courses (12 credit hours) from the following: 5 | ||
| Applied Econometrics | ||
| Game Theory in Economic Applications. | ||
| Industrial Organization | ||
| Directed Studies in Economics | ||
| Special Topics in Economics (STEM Topics) | ||
| Mathematical Economics and Applications | ||
| Empirical Labor Economics | ||
| Topics in Mathematical Economics | ||
| Advanced Econometrics | ||
| Advanced Macroeconomic Theory | ||
| Advanced Microeconomic Theory | ||
| Total Credit Hours | 120 | |
- 1
NOTE: WRS 105 and WRS 106 or ENG 106 , or their equivalents, must be completed prior to attaining junior year classification, per the University General Education Requirements. Additionally, all 100 and 200-level Business Core courses must be completed by the end of the fifth semester of college work or during the semester in which the student is completing 75 credit hours.
- 2
At least one course with an international focus must be completed within the degree requirements. The appropriateness of the course is determined by the Vice Dean for Undergraduate Business Education.
- 3
Students who do not earn at least a C- in WRS 106 or ENG 106 must either repeat WRS 106 or ENG 106 and earn at least a C- or complete WRS 230 with at least a C- before enrolling in BUS 300.
- 4
All specific coursework for a major area of specialization in Economics must be completed with a grade of “C-” or higher. A minimum cumulative GPA of 2.5 is required for all specific coursework taken in the major area of specialization. All courses must be taken within the current pre-requisite structure.
No course may double count in any other major, minor, or cognate.
- 5
Course pre-requisites vary by course.
Sample Plans of Study
This Sample Plan of Study represents one possible version of a new freshman business student’s 8-semester plan. The individual student's plan may vary depending upon the initial placement into English Composition and mathematics. Moreover, numerous plan variations are possible if a student enters the University with advanced college credits, wishes to participate in study abroad, chooses a special program option, or selects additional majors or minors.
Note that each major/minor at the University of Miami satisfies a particular "Area of Knowledge" within the general education requirements of the University. This means that it is possible to pursue two majors, or a major and a minor, within Miami Herbert Business School and fulfill both the STEM and People and Society Areas of Knowledge; a separate cognate in these areas would not be required. The only remaining general education Area of Knowledge is Arts and Humanities, which must be completed through a major, minor, or cognate outside of the Business School.
Students construct their individualized plans in collaboration with their assigned academic advisor.
Political Economy Track Plan of Study
| Freshman Year | ||
|---|---|---|
| Fall | Credit Hours | |
| ECO 211 | Principles of Microeconomics | 3 |
| MGT 100 | Managing for Success in the Global Environment | 3 |
| MKT 201 | Foundations of Marketing | 3 |
| MTH 161 | Calculus I | 4 |
| WRS 105 | First-Year Writing I | 3 |
| UMX 100 | The University of Miami Experience | 0 |
| Credit Hours | 16 | |
| Spring | ||
| BUS 150 | Business Analytics | 3 |
| ECO 212 | Principles of Macroeconomics | 3 |
| MTH 162 | Calculus II | 4 |
| WRS 106 or ENG 106 | First-Year Writing II or Writing About Literature and Culture | 3 |
| Arts and Humanties Cognate Course | 3 | |
| Credit Hours | 16 | |
| Sophomore Year | ||
| Fall | ||
| ACC 211 | Principles of Financial Accounting | 3 |
| BSL 212 | Introduction to Business Law and Ethics | 3 |
| BTE 210 | Fundamentals of Business Technology and Innovation | 3 |
| MAS 311 | Applied Probability and Statistics | 3 |
| Arts and Humanities Cognate Course | 3 | |
| Credit Hours | 15 | |
| Spring | ||
| ACC 212 | Managerial Accounting | 3 |
| BUS 300 | Critical Thinking and Persuasion for Business | 3 |
| ECO 302 | Microeconomic Theory | 3 |
| FIN 302 | Fundamentals of Finance | 3 |
| MAS 312 | Statistical Methods and Quality Control | 3 |
| MGT 199 | Professional Development and Success in the Workplace | 1 |
| Credit Hours | 16 | |
| Junior Year | ||
| Fall | ||
| BTE 320 | Python Programming: Fundamentals and Algorithms | 3 |
| ECO 303 | Macroeconomic Theory | 3 |
| MGT 304 | Organizational Behavior | 3 |
| Arts and Humanities Cognate Course | 3 | |
| Economics P&S Major Choice | 3 | |
| Credit Hours | 15 | |
| Spring | ||
| MGT 303 | Operations Management | 3 |
| Economics P&S Major Choice | 3 | |
| STEM Cognate Course | 3 | |
| Elective | 3 | |
| Elective | 3 | |
| Credit Hours | 15 | |
| Senior Year | ||
| Fall | ||
| Economics P&S Major Choice | 3 | |
| Quantitative Choice Course | 3 | |
| STEM Cognate Course | 3 | |
| Elective | 3 | |
| Elective | 3 | |
| Credit Hours | 15 | |
| Spring | ||
| MGT 401 | Strategic Management | 3 |
| Economics P&S Major Choice | 3 | |
| STEM Cognate Course | 3 | |
| Elective | 3 | |
| Credit Hours | 12 | |
| Total Credit Hours | 120 | |
Quantitative Economics Track Plan of Study
| Freshman Year | ||
|---|---|---|
| Fall | Credit Hours | |
| ECO 211 | Principles of Microeconomics | 3 |
| MGT 100 | Managing for Success in the Global Environment | 3 |
| MKT 201 | Foundations of Marketing | 3 |
| MTH 161 | Calculus I | 4 |
| WRS 105 | First-Year Writing I | 3 |
| UMX 100 | The University of Miami Experience | 0 |
| Credit Hours | 16 | |
| Spring | ||
| BUS 150 | Business Analytics | 3 |
| ECO 212 | Principles of Macroeconomics | 3 |
| MTH 162 | Calculus II | 4 |
| WRS 106 or ENG 106 | First-Year Writing II or Writing About Literature and Culture | 3 |
| Arts and Humanities Cognate Course | 3 | |
| Credit Hours | 16 | |
| Sophomore Year | ||
| Fall | ||
| ACC 211 | Principles of Financial Accounting | 3 |
| BSL 212 | Introduction to Business Law and Ethics | 3 |
| BTE 210 | Fundamentals of Business Technology and Innovation | 3 |
| MAS 311 | Applied Probability and Statistics | 3 |
| Arts and Humanities Cognate Course | 3 | |
| Credit Hours | 15 | |
| Spring | ||
| ACC 212 | Managerial Accounting | 3 |
| BUS 300 | Critical Thinking and Persuasion for Business | 3 |
| ECO 302 | Microeconomic Theory | 3 |
| FIN 302 | Fundamentals of Finance | 3 |
| MAS 312 | Statistical Methods and Quality Control | 3 |
| MGT 199 | Professional Development and Success in the Workplace | 1 |
| Credit Hours | 16 | |
| Junior Year | ||
| Fall | ||
| BTE 320 | Python Programming: Fundamentals and Algorithms | 3 |
| ECO 303 | Macroeconomic Theory | 3 |
| MGT 304 | Organizational Behavior | 3 |
| Arts and Humanities Cognate Course | 3 | |
| Economics STEM Major Choice | 3 | |
| Credit Hours | 15 | |
| Spring | ||
| MGT 303 | Operations Management | 3 |
| Economics STEM Major Choice | 3 | |
| People and Society Cognate Course | 3 | |
| Elective | 3 | |
| Elective | 3 | |
| Credit Hours | 15 | |
| Senior Year | ||
| Fall | ||
| Economics STEM Major Choice | 3 | |
| Quantitative Choice Course | 3 | |
| People and Society Cognate Course | 3 | |
| Elective | 3 | |
| Elective | 3 | |
| Credit Hours | 15 | |
| Spring | ||
| MGT 401 | Strategic Management | 3 |
| Economics STEM Major Choice | 3 | |
| People and Society Cognate Course | 3 | |
| Elective | 3 | |
| Credit Hours | 12 | |
| Total Credit Hours | 120 | |
Mission
- To develop innovative ideas and principled leaders that transform global business and society.
Goals
The economics curriculum is designed to give business students an understanding of economic theory and its application to a wide range of problems.
Student Learning Outcomes
- BBA/BSBA graduates will be critical thinkers, able to select and apply appropriate models, tools, and techniques, and frameworks to enable them to render analytically sound business decisions.
- BBA/BSBA graduates will be able to identify, analyze and resolve ethical issues in business scenarios.
- BBA/BSBA graduates will demonstrate professional written communication skills.
- BSBA graduates will have strong technical skills.
