Institute for Economic Competitiveness

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Institute for Economic Competitiveness
Motto "Nationally Recognized, Locally Focused"
Type Research Institute
Established 1998; 19 years ago (1998)
Director Dr. Sean Snaith
Location Orlando, Florida, United States
Website Official Site

The UCF Institute for Economic Competitiveness (IEC) is an economic research institute of the College of Business Administration at the University of Central Florida located in Orlando, Florida, United States. The director of the institute is Sean Snaith, Ph.D.[1]

The Institute for Economic Competitiveness was created to foster a relationship and forum among academia, business, and government, and aims to expand public understanding by convening business leaders, scholars, policy makers, civic groups and media to discuss critical issues.[2] The Institute publishes economic forecasts every quarter and provides analysis of the economic impact of current events, such as the 2008 recession[3] and the Deepwater Horizon oil spill.[4]

Operations and Faculty[edit]

Mission Statement[edit]

"The Institute for Economic Competitiveness strives to provide complete, accurate, and timely national, state, and regional forecasts and economic analyses. Through these analyses, the Institute provides valuable resources to the public and private sectors for informed decision making." [1]

Faculty[edit]

Sean Snaith, Ph.D., is the director of the Institute for Economic Competitiveness within the College of Business Administration at the University of Central Florida and a widely recognized economist in the field of business and economic forecasting.

As an award-winning forecaster, researcher and professor, Snaith is always interested in applying academic expertise to solving real-world problems. Snaith has served as a consultant for a client list ranging from local and regional municipalities to multi-national corporations, such as Compaq, Dell and IBM. He has held teaching positions at Pennsylvania State University, American University in Cairo, University of North Dakota and University of the Pacific.[5]

Snaith frequently appears in national and regional media and is a sought-after speaker. He has been quoted in The Wall Street Journal, USA Today, The New York Times and CNNMoney.com and has appeared on CNBC, Fox Business Network and Business News Network, based in Toronto.[6]

Known for his engaging presentations, Snaith was described by one business editor as “(having) an uncanny knack of making economics not only understandable but interesting.” [5]

Snaith is a member of several economic organizations and national economic forecasting panels including The Wall Street Journal's Economic Forecasting Survey, USA Today's Survey of Top Economists, Federal Reserve Bank of Philadelphia's Survey of Professional Forecasters, Bloomberg, Reuters and the Livingston Survey.[7]

In 2007, he was named California’s most accurate forecaster by the Western Blue Chip Consensus Forecast, besting UCLA, Wells Fargo and other esteemed forecasting groups.[8]

Snaith holds a B.S. in Economics from Allegheny College and an M.A. and Ph.D. in Economics from Pennsylvania State University.

Bloomberg News named the Institute's director, Dr. Sean Snaith, as one of the country's most accurate economic forecasters in 2008. He was one of two academic economists making the list, which appeared in the December issue of Bloomberg Markets, according to UCF News release.[9] Snaith is named in the top five for his accurate predictions about the Federal Reserve's benchmark interest rate, the Federal Funds rate.[10]

Snaith is also the host of “Money Talk$ America,” a show produced by UCF TV, which aims to break down complex issues into digestible news about subjects as diverse as interest rates, the job market and the cost of food.[5]

Economic Forecasts and Research[edit]

New economic forecasts are produced and distributed by the Institute every quarter. Each edition provides updated economic information that is vital to the academic, government and business communities.[7] The Institute serves as a single point of contact between commerce and government with economic information resources.

Each year the Institute releases multiple economic reports, with the reports falling into two overall categories. One forecast focuses on the United States and the other focuses on the Florida and its metropolitan areas.[7] U.S. Forecast includes analysis and predictions on GDP, consumer spending, government spending, investments, net exports and unemployment.[11] Forecast information has been featured in the USA Today Survey of Top Economists, Livingston Survey, Survey of Professional Forecasters, Reuters, and Bloomberg monthly surveys.[7] In addition to the U.S. Forecast, the institute prepares a comprehensive, quarterly forecast of the Florida economy and 12 metropolitan areas. Metropolitan areas covered by the forecast include: Pensacola, Tallahassee, Jacksonville, Gainesville, Ocala, Deltona-Daytona Beach, Tampa-St. Petersburg, Lakeland, Orlando-Kissimmee, Palm Bay-Melbourne, Naples-Marco Island, and Miami-Fort Lauderdale.[7]

Research in the Media[edit]

University and Institute research has appeared in the New York Times, Forbes, U.S. News & World Report, Parenting Magazine and on ABC World News, CBS Evening News and National Public Radio.[12][13] In addition, the Institute's director and forecasts have appeared on national television, including CNN[3] and MSNBC,[14] and have been included in notable publications,[6] such as Reuters,[15] Bloomberg BusinessWeek,[16] The Miami Herald,[17] and The Palm Beach Post.[18]

Latest Forecasts[edit]

Florida & Metro Forecast December 2012[edit]

Florida & Metro Forecast December 2012

A comprehensive, quarterly forecast of the Florida economy and 12 metropolitan areas. Metropolitan areas covered by the forecast include: Pensacola, Tallahassee, Jacksonville, Gainesville, Ocala, Deltona-Daytona Beach, Tampa-St. Petersburg, Lakeland, Orlando-Kissimmee, Palm Bay-Melbourne, Naples-Marco Island, and Miami-Fort Lauderdale.

U.S. Forecast March 2013[edit]

U.S. Forecast March 2013

A new economic forecast is produced and distributed by the Institute every quarter. Each edition provides updated economic information that is vital to the academic, government, and business communities. Information from the forecast is included in exclusive panels including the USA Today Survey of Top Economists, Livingston Survey, Survey of Professional Forecasters, Reuters, and Bloomberg monthly surveys.

Special Projects[edit]

Metro Orlando Cleantech Report - October 2009[edit]

Metro Orlando Cleantech Report - October 2009

Commissioned by Orange County Mayor Richard T. Crotty, this study assesses Metro Orlando’s Assets, Capabilities, and Potential in the cleantech industry. In this report, the Institute highlights the evolution of the cleantech industry, and studies the six major cleantech areas of opportunity for the region, based on the Institute's research. The report also highlights the existing cleantech clusters and initiatives; Metro Orlando’s current strengths, including its natural resources, educational institutions, supporting organizations; the Metro Orlando cleantech industry; its potential for growth, including the region’s economic strengths, the leadership, its R&D capabilities, and its strong technology base. Finally, the report shares the findings of the survey and makes recommendations on the best course of action in the near or medium future, including the policies that could benefit the region.[19]

References[edit]

  1. ^ a b "About the Institute". UCF Institute for Economic Competitiveness. Retrieved July 2010.  Check date values in: |access-date= (help)
  2. ^ "UCF Stands for Opportunity". UCF. Retrieved July 2010.  Check date values in: |access-date= (help)
  3. ^ a b La Monica, Paul R. (2008-11-07). "Call it a recession, already". CNN. Retrieved 2010-06-14. 
  4. ^ Ellis, Blake (2010-06-08). "Oil Spill Could Cost Florida 195,000 Jobs, $10.9 Billion". CNN. Retrieved 2010-06-14. 
  5. ^ a b c "About Dr. Snaith". UCF Institute for Economic Competitiveness. Retrieved July 2010.  Check date values in: |access-date= (help)
  6. ^ a b "IEC In The Media". UCF Institute for Economic Competitiveness. Retrieved July 2010.  Check date values in: |access-date= (help)
  7. ^ a b c d e "Forecasts". UCF Institute for Economic Competitiveness. Retrieved July 2010.  Check date values in: |access-date= (help)
  8. ^ "Dr. Sean Snaith Named Top Forecaster". UCF College of Business Administration. Retrieved July 2010.  Check date values in: |access-date= (help)
  9. ^ "UCF News". UCF News & Information. Retrieved July 2010.  Check date values in: |access-date= (help)
  10. ^ "Sean Snaith on Economy". OurBlook. Retrieved February 2009.  Check date values in: |access-date= (help)
  11. ^ "U.S. Forecast - UCF Institute for Economic Competitiveness" (PDF). UCF Institute for Economic Competitiveness. Retrieved July 2010.  Check date values in: |access-date= (help)
  12. ^ "UCF Featured Nationally by ABC News, Parenting Magazine, N.Y. Times and More". University of Central Florida. Retrieved 2010-03-24. 
  13. ^ "CBS Evening News, New York Times feature UCF". University of Central Florida. Retrieved 2010-03-24. 
  14. ^ "In Florida, oil adds to economic woes". MSNBC. 2010-06-07. Retrieved 2010-06-14. 
  15. ^ "Oil spill ripples through Florida economy". Reuters. 2010-06-09. Retrieved 2010-06-14. 
  16. ^ "Florida Appraisers Ask to Cut Value of Gulf Property Hit by Oil". Bloomberg BusinessWeek. 2010-06-09. Retrieved 2010-06-14. 
  17. ^ "Report: If Gulf oil spill washes ashore, cost to Florida could be $10B". Miami Herald. 2010-06-08. Retrieved 2010-06-14. 
  18. ^ "State sees first dip in jobless rate since 2006". The Palm Beach Post. 2010-05-21. Retrieved 2010-06-14. 
  19. ^ "Metro Orlando Cleantech Report - October 2009". UCF Institute for Economic Competitiveness. Retrieved July 2010.  Check date values in: |access-date= (help)

External links[edit]