As a general rule, "etc." should never appear in your text. Consider the following sentences:

1. I helped draft prospectuses, analyze key company data, value companies, etc.
2. I look forward to courses such as "Small Business Management," "Leading Teams," "Multi-party negotiations," etc.

In the first example, "etc." replaces information that the reader values. The reader cannot make the leap and understand where the writer's experiences lead. In the second example, "etc." trivializes the school's resources or suggests that the writer is too lazy to do his/her homework.

We are at a loss to think of one instance in which "etc." could be used appropriately in a business school essay - ensure that your essays don't employ this term.