Institute for Economic Competitiveness
Encyclopedia
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
, USA. The director of the institute is Sean Snaith, Ph.D.
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. The Institute publishes economic forecasts every quarter and provides analysis of the economic impact of current events, such as the 2008 Global Recession and the Deepwater Horizon Oil Spill
.
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.
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
.
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.”
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.
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.
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. Snaith is named in the top five for his accurate predictions about the Federal Reserve's benchmark interest rate, the Federal Funds rate.
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.
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. 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. U.S. Forecast includes analysis and predictions on GDP, consumer spending
, government spending
, investments, net exports and unemployment
. Forecast information has been featured in the USA Today
Survey of Top Economists, Livingston Survey, Survey of Professional Forecasters
, Reuters
, and Bloomberg
monthly surveys. 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.
, U.S. News & World Report
, Parenting Magazine and on ABC World News, CBS Evening News
and National Public Radio. In addition, the Institute's director and forecasts have appeared on national television, including CNN
and MSNBC
, and have been included in notable publications, such as Reuters
, Bloomberg BusinessWeek, The Miami Herald
, and The Palm Beach Post
.
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.
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.
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.
University of Central Florida College of Business Administration
The UCF College of Business Administration is an academic college of the University of Central Florida located in Orlando, Florida, USA. The interim dean of the college is Foard F...
at the University of Central Florida
University of Central Florida
The University of Central Florida, commonly referred to as UCF, is a metropolitan public research university located in Orlando, Florida, United States...
located in Orlando
Orlando, Florida
Orlando is a city in the central region of the U.S. state of Florida. It is the county seat of Orange County, and the center of the Greater Orlando metropolitan area. According to the 2010 US Census, the city had a population of 238,300, making Orlando the 79th largest city in the United States...
, Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
, USA. The director of the institute is Sean Snaith, Ph.D.
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. The Institute publishes economic forecasts every quarter and provides analysis of the economic impact of current events, such as the 2008 Global Recession and the Deepwater Horizon Oil Spill
Deepwater Horizon oil spill
The Deepwater Horizon oil spill is an oil spill in the Gulf of Mexico which flowed unabated for three months in 2010, and continues to leak fresh oil. It is the largest accidental marine oil spill in the history of the petroleum industry...
.
Mission Statement
"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."Faculty
Sean Snaith, Ph.D., is the director of the Institute for Economic Competitiveness within the College of Business AdministrationUniversity of Central Florida College of Business Administration
The UCF College of Business Administration is an academic college of the University of Central Florida located in Orlando, Florida, USA. The interim dean of the college is Foard F...
at the University of Central Florida
University of Central Florida
The University of Central Florida, commonly referred to as UCF, is a metropolitan public research university located in Orlando, Florida, United States...
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
Compaq
Compaq Computer Corporation is a personal computer company founded in 1982. Once the largest supplier of personal computing systems in the world, Compaq existed as an independent corporation until 2002, when it was acquired for US$25 billion by Hewlett-Packard....
, Dell
Dell
Dell, Inc. is an American multinational information technology corporation based in 1 Dell Way, Round Rock, Texas, United States, that develops, sells and supports computers and related products and services. Bearing the name of its founder, Michael Dell, the company is one of the largest...
and IBM
IBM
International Business Machines Corporation or IBM is an American multinational technology and consulting corporation headquartered in Armonk, New York, United States. IBM manufactures and sells computer hardware and software, and it offers infrastructure, hosting and consulting services in areas...
. He has held teaching positions at Pennsylvania State University
Pennsylvania State University
The Pennsylvania State University, commonly referred to as Penn State or PSU, is a public research university with campuses and facilities throughout the state of Pennsylvania, United States. Founded in 1855, the university has a threefold mission of teaching, research, and public service...
, American University in Cairo
American University in Cairo
The American University in Cairo is an independent, non-profit, apolitical, secular institution of higher learning located in Cairo, Egypt...
, University of North Dakota
University of North Dakota
The University of North Dakota is a public university in Grand Forks, North Dakota, USA. Established by the Dakota Territorial Assembly in 1883, six years before the establishment of the state of North Dakota, UND is the oldest and largest university in the state and enrolls over 14,000 students. ...
and University of the Pacific.
Snaith frequently appears in national and regional media and is a sought-after speaker. He has been quoted in The Wall Street Journal
The Wall Street Journal
The Wall Street Journal is an American English-language international daily newspaper. It is published in New York City by Dow Jones & Company, a division of News Corporation, along with the Asian and European editions of the Journal....
, USA Today
USA Today
USA Today is a national American daily newspaper published by the Gannett Company. It was founded by Al Neuharth. The newspaper vies with The Wall Street Journal for the position of having the widest circulation of any newspaper in the United States, something it previously held since 2003...
, The New York Times
The New York Times
The New York Times is an American daily newspaper founded and continuously published in New York City since 1851. The New York Times has won 106 Pulitzer Prizes, the most of any news organization...
and CNNMoney.com
CNNMoney.com
CNNMoney.com is the world's largest business website. The site is the online home of Fortune and Money, and serves as CNN.com's exclusive business site. The site, edited by Chris Peacock, together with the three titles, is part of the Fortune|Money Group, and attracts more than 10.8 million unique...
and has appeared on CNBC
CNBC
CNBC is a satellite and cable television business news channel in the U.S., owned and operated by NBCUniversal. The network and its international spinoffs cover business headlines and provide live coverage of financial markets. The combined reach of CNBC and its siblings is 390 million viewers...
, Fox Business Network
Fox Business Network
Fox Business Network is an American cable news and satellite news television channel that began broadcasting on October 15, 2007. It is owned by the Fox Entertainment Group, part of Rupert Murdoch's News Corporation...
and Business News Network
Business News Network
Business News Network ' is a Canadian English language Category A specialty channel. BNN broadcasts programming related to business and financial news and analysis. As of December 2010, the station is based from 299 Queen Street West in Downtown Toronto and is owned by Bell Media...
, based in Toronto
Toronto
Toronto is the provincial capital of Ontario and the largest city in Canada. It is located in Southern Ontario on the northwestern shore of Lake Ontario. A relatively modern city, Toronto's history dates back to the late-18th century, when its land was first purchased by the British monarchy from...
.
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.”
Snaith is a member of several economic organizations and national economic forecasting panels including The Wall Street Journal's
The Wall Street Journal
The Wall Street Journal is an American English-language international daily newspaper. It is published in New York City by Dow Jones & Company, a division of News Corporation, along with the Asian and European editions of the Journal....
Economic Forecasting Survey, USA Today's
USA Today
USA Today is a national American daily newspaper published by the Gannett Company. It was founded by Al Neuharth. The newspaper vies with The Wall Street Journal for the position of having the widest circulation of any newspaper in the United States, something it previously held since 2003...
Survey of Top Economists, Federal Reserve Bank of Philadelphia's
Federal Reserve Bank of Philadelphia
The Federal Reserve Bank of Philadelphia, headquartered in Philadelphia, Pennsylvania, is responsible for the Third District of the Federal Reserve, which covers eastern Pennsylvania, the 9 southern counties of New Jersey, and Delaware...
Survey of Professional Forecasters
Survey of Professional Forecasters
The Survey of Professional Forecasters, also called, The Anxious Index, is a highly predictive report on the prospects for the Economy of the United States issued quarterly by the Federal Reserve Bank of Philadelphia. "The Survey of Professional Forecasters is the oldest quarterly survey of...
, Bloomberg
Bloomberg L.P.
Bloomberg L.P. is an American privately held financial software, media, and data company. Bloomberg makes up one third of the $16 billion global financial data market with estimated revenue of $6.9 billion. Bloomberg L.P...
, Reuters
Reuters
Reuters is a news agency headquartered in New York City. Until 2008 the Reuters news agency formed part of a British independent company, Reuters Group plc, which was also a provider of financial market data...
and the Livingston Survey.
In 2007, he was named California’s
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
most accurate forecaster by the Western Blue Chip Consensus Forecast, besting UCLA
University of California, Los Angeles
The University of California, Los Angeles is a public research university located in the Westwood neighborhood of Los Angeles, California, USA. It was founded in 1919 as the "Southern Branch" of the University of California and is the second oldest of the ten campuses...
, Wells Fargo
Wells Fargo
Wells Fargo & Company is an American multinational diversified financial services company with operations around the world. Wells Fargo is the fourth largest bank in the U.S. by assets and the largest bank by market capitalization. Wells Fargo is the second largest bank in deposits, home...
and other esteemed forecasting groups.
Snaith holds a B.S.
Bachelor of Science
A Bachelor of Science is an undergraduate academic degree awarded for completed courses that generally last three to five years .-Australia:In Australia, the BSc is a 3 year degree, offered from 1st year on...
in Economics from Allegheny College
Allegheny College
Allegheny College is a private liberal arts college located in northwestern Pennsylvania in the town of Meadville. Founded in 1815, the college has about 2,100 undergraduate students.-Early history:...
and an M.A.
Master of Arts (postgraduate)
A Master of Arts from the Latin Magister Artium, is a type of Master's degree awarded by universities in many countries. The M.A. is usually contrasted with the M.S. or M.Sc. degrees...
and Ph.D.
Doctor of Philosophy
Doctor of Philosophy, abbreviated as Ph.D., PhD, D.Phil., or DPhil , in English-speaking countries, is a postgraduate academic degree awarded by universities...
in Economics from Pennsylvania State University
Pennsylvania State University
The Pennsylvania State University, commonly referred to as Penn State or PSU, is a public research university with campuses and facilities throughout the state of Pennsylvania, United States. Founded in 1855, the university has a threefold mission of teaching, research, and public service...
.
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
Bloomberg Markets
Bloomberg Markets is a monthly magazine published by Bloomberg L.P.. It is aimed at financial experts and professionals. It focuses on financial decisions and philosophies of major personalities in the financial world, such as the CEOs of large banks and the people who wield political power over...
, according to UCF News release. Snaith is named in the top five for his accurate predictions about the Federal Reserve's benchmark interest rate, the Federal Funds rate.
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.
Economic Forecasts and Research
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. U.S. Forecast includes analysis and predictions on GDP, consumer spending
Consumer spending
Consumer spending or consumer demand or consumption is also known as personal consumption expenditure. It is the largest part of aggregate demand or effective demand at the macroeconomic level...
, government spending
Government spending
Government spending includes all government consumption, investment but excludes transfer payments made by a state. Government acquisition of goods and services for current use to directly satisfy individual or collective needs of the members of the community is classed as government final...
, investments, net exports and unemployment
Unemployment
Unemployment , as defined by the International Labour Organization, occurs when people are without jobs and they have actively sought work within the past four weeks...
. Forecast information has been featured in the USA Today
USA Today
USA Today is a national American daily newspaper published by the Gannett Company. It was founded by Al Neuharth. The newspaper vies with The Wall Street Journal for the position of having the widest circulation of any newspaper in the United States, something it previously held since 2003...
Survey of Top Economists, Livingston Survey, Survey of Professional Forecasters
Survey of Professional Forecasters
The Survey of Professional Forecasters, also called, The Anxious Index, is a highly predictive report on the prospects for the Economy of the United States issued quarterly by the Federal Reserve Bank of Philadelphia. "The Survey of Professional Forecasters is the oldest quarterly survey of...
, Reuters
Reuters
Reuters is a news agency headquartered in New York City. Until 2008 the Reuters news agency formed part of a British independent company, Reuters Group plc, which was also a provider of financial market data...
, and Bloomberg
Bloomberg L.P.
Bloomberg L.P. is an American privately held financial software, media, and data company. Bloomberg makes up one third of the $16 billion global financial data market with estimated revenue of $6.9 billion. Bloomberg L.P...
monthly surveys. In addition to the U.S. Forecast, the institute prepares a comprehensive, quarterly forecast of the Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
economy and 12 metropolitan areas. Metropolitan areas covered by the forecast include: Pensacola
Pensacola
Pensacola is a city in the western part of the U.S. state of Florida.Pensacola may also refer to:* Pensacola people, a group of Native Americans* A number of places in the Florida:** Pensacola Bay** Pensacola Regional Airport...
, Tallahassee, Jacksonville, Gainesville
Gainesville, Florida
Gainesville is the largest city in, and the county seat of, Alachua County, Florida, United States as well as the principal city of the Gainesville, Florida Metropolitan Statistical Area . The preliminary 2010 Census population count for Gainesville is 124,354. Gainesville is home to the sixth...
, Ocala, Deltona-Daytona Beach, Tampa
Tâmpa
Tâmpa may refer to several villages in Romania:* Tâmpa, a village in Băcia Commune, Hunedoara County* Tâmpa, a village in Miercurea Nirajului, Mureş County* Tâmpa, a mountain in Braşov city...
-St. Petersburg
St. Petersburg, Florida
St. Petersburg is a city in Pinellas County, Florida, United States. It is known as a vacation destination for both American and foreign tourists. As of 2008, the population estimate by the U.S. Census Bureau is 245,314, making St...
, Lakeland
Lakeland, Florida
Lakeland is a city in Polk County, Florida, United States, located approximately midway between Tampa and Orlando along Interstate 4. According to the 2008 U.S. Census Bureau estimate, the city had a population of 94,406...
, Orlando
Orlando, Florida
Orlando is a city in the central region of the U.S. state of Florida. It is the county seat of Orange County, and the center of the Greater Orlando metropolitan area. According to the 2010 US Census, the city had a population of 238,300, making Orlando the 79th largest city in the United States...
-Kissimmee
Kissimmee
Kissimmee is the name of several things in the U.S. state of Florida:*Kissimmee, Florida *Kissimmee City Street Railway*Kissimmee Kreatures *Kissimmee Utility Authority...
, Palm Bay
Palm Bay, Florida
Palm Bay is a city in Brevard County, Florida, United States. The U.S. Census Bureau estimated the city's population as 100,786 on 1 July 2008; it is the most populous city in the county...
-Melbourne
Melbourne, Florida
Melbourne is a city in Brevard County, Florida, United States. As of 2009, the population estimated by the U.S. Census Bureau is 78,323. The municipal area is the second largest by size and by population in the county. Melbourne is a principal city of the Palm Bay – Melbourne – Titusville, Florida...
, Naples-Marco Island, and Miami-Fort Lauderdale.
Research in the Media
University and Institute research has appeared in the New York Times, ForbesForbes
Forbes is an American publishing and media company. Its flagship publication, the Forbes magazine, is published biweekly. Its primary competitors in the national business magazine category are Fortune, which is also published biweekly, and Business Week...
, U.S. News & World Report
U.S. News & World Report
U.S. News & World Report is an American news magazine published from Washington, D.C. Along with Time and Newsweek it was for many years a leading news weekly, focusing more than its counterparts on political, economic, health and education stories...
, Parenting Magazine and on ABC World News, CBS Evening News
CBS Evening News
CBS Evening News is the flagship nightly television news program of the American television network CBS. The network has broadcast this program since 1948, and has used the CBS Evening News title since 1963....
and National Public Radio. In addition, the Institute's director and forecasts have appeared on national television, including CNN
CNN
Cable News Network is a U.S. cable news channel founded in 1980 by Ted Turner. Upon its launch, CNN was the first channel to provide 24-hour television news coverage, and the first all-news television channel in the United States...
and MSNBC
MSNBC
MSNBC is a cable news channel based in the United States available in the US, Germany , South Africa, the Middle East and Canada...
, and have been included in notable publications, such as Reuters
Reuters
Reuters is a news agency headquartered in New York City. Until 2008 the Reuters news agency formed part of a British independent company, Reuters Group plc, which was also a provider of financial market data...
, Bloomberg BusinessWeek, The Miami Herald
The Miami Herald
The Miami Herald is a daily newspaper owned by The McClatchy Company headquartered on Biscayne Bay in the Omni district of Downtown Miami, Florida, United States...
, and The Palm Beach Post
The Palm Beach Post
The Palm Beach Post is a major daily newspaper in Florida, serving Palm Beach County in South Florida, and the Treasure Coast area. It is the 72nd largest daily newspaper in the United States and the sixth largest in Florida.-History:...
.
Florida & Metro Forecast April 2011
Florida & Metro Forecast April 2011A 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 2011
U.S. Forecast March 2011A 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.
Metro Orlando Cleantech Report - October 2009
Metro Orlando Cleantech Report - October 2009Commissioned 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.