Economics & Finance
Dr. Kudret Topyan
Chair of the Department
The Department of Economics and Finance offers a broad choice of courses and majors in Economics, Finance, as well as a double major in Finance and Economics. The aims of the department are (1) to prepare students for careers in business, government, and not-for-profit organizations; (2) to provide an intellectual and professional basis for informed participation in contemporary society; and (3) to develop competent and well-trained students in the disciplines of Economics and Finance.
Every major in the department must consult with their academic advisors and the chair concerning the fulfillment of the requirements for the major and the electives that will be most suitable for his/her particular professional and academic development. Students planning to pursue graduate studies and quantitatively oriented jobs in economics or finance are strongly advised to pursue a minor in mathematics and/or a minor in business analytics.
Economics
Learning Goals for the Economics Major
1. To gain an understanding of economic issues and problems in society by studying economic principles.
2. To become familiar with the national and international financial and monetary systems and their functions.
3. To develop the analytical skills to use the theoretical and applied tools to be able to apply methods of economic analysis.
Major
Students enrolled in the O'Malley School of Business who wish to pursue a major in Economics without a concentration must take:
| ECON 301 | Intermediate Price Analysis | 3 |
| ECON 302 | Intermediate Macroeconomics | 3 |
| ECON 334 | International Economics | 3 |
| ECON 433 | Econometrics | 3 |
| Plus three approved ECON electives | 9 | |
| Total Credits | 21 | |
Students enrolled in the School of Arts who wish to pursue a major in Economics without a concentration must take:
| MATH 153 | Finite Mathematics for Business Decisions | 3 |
| MATH 154 | Calculus for Business Decisions | 3 |
| BUAN 227 | Business Statistics | 3 |
| ECON 203 | Microeconomics | 3 |
| or ECON 150 | Roots: Economics | |
| ECON 204 | Macroeconomics | 3 |
| ECON 301 | Intermediate Price Analysis | 3 |
| ECON 302 | Intermediate Macroeconomics | 3 |
| ECON 305 | Money and Banking | 3 |
| ECON 334 | International Economics | 3 |
| ECON 433 | Econometrics | 3 |
| Plus any three approved ECON electives | 9 | |
| Total Credits | 39 | |
The department offers three concentrations: Quantitative Economics, Applied Economics, and Environmental Economics. For each concentration, students are required to take three elective courses from the lists below.
I. Quantitative Economics
| ECON 303 | Mathematical Economics | 3 |
| ECON 401 | Advanced Microeconomics | 3 |
| ECON 402 | Seminar in MacroEconomics and Financial Markets | 3 |
| ECON 403 | Seminar in Monetary Theory and Policy | 3 |
| ECON 434 | Advanced Econometrics | 3 |
II. Applied Economics
| ECON 432 | Applied Environmental Economics | 3 |
| Plus two approved ECON electives. | ||
III. Environmental Economics
| ECON 332 | Introduction to Environmental Economics | 3 |
| ECON 412 | Economic Growth and Development | 3 |
| ECON 432 | Applied Environmental Economics | 3 |
| Or an ECON elective approved by the department to replace one of the courses listed above. | 3 | |
A minimum grade of C is necessary to receive major credit.
Internships
Students majoring in Economics are encouraged to complete a business internship. Students can complete an approved internship experience for academic credit. Free Elective credit may be used to complete ECON 375 Assimilating the Internship Experience in Economics. Interested students must consult with the Assistant Dean for Career Development for guidance on the process of securing an appropriate internship and obtaining the required faculty sponsorship. Faculty supervisors will define appropriate academic activities in parallel to work requirements in order to provide a complete internship experience. Credit-bearing internships must be approved by the Department Chair, Dean, and Assistant Dean for Career Development.
Recommended course sequence for Economics majors:
| First Year | |||
|---|---|---|---|
| Fall | Credits | Spring | Credits |
| ECON 203* | 3 | ECON 204* | 3 |
| MATH 153 or 185 | 3 | MATH 154 or 186 | 3 |
| ENGL 110 | 3 | ENGL 211 | 3 |
| CIS 110 | 3 | RELS 110 | 3 |
| MGMT 201 or MKTG 201 | 3 | MKTG 201 or MGMT 201 | 3 |
| 15 | 15 | ||
| Second Year | |||
| Fall | Credits | Spring | Credits |
| SOC 201 | 3 | FIN 301 | 3 |
| BUAN 227 | 3 | ECON 305 | 3 |
| ACCT 201* | 3 | ACCT 202* | 3 |
| PSYC 203 | 3 | LAW 203 | 3 |
| ENGL Elective | 3 | PHIL 201 | 3 |
| 15 | 15 | ||
| Third Year | |||
| Fall | Credits | Spring | Credits |
| ECON 302 | 3 | ECON 301 | 3 |
| ECON 433 | 3 | ECON 334 | 3 |
| MGMT 307 | 3 | Economics Elective | 3 |
| Liberal Arts Elective | 3 | RELS Contemporary | 3 |
| RELS Catholic Studies | 3 | History Elective | 3 |
| 15 | 15 | ||
| Fourth Year | |||
| Fall | Credits | Spring | Credits |
| Economics Elective | 3 | Economics Elective | 3 |
| MGMT 406 or 430 | 3 | MGMT 430 or 406 | 3 |
| Free Elective | 3 | Free Elective | 3 |
| SCI Elective | 3 | SCI Elective | 3 |
| Liberal Arts Elective | 3 | Liberal Arts Elective | 3 |
| 15 | 15 | ||
| Total Credits: 120 | |||
* Courses must be taken in sequence
Minor
Students in the O'Malley School of Business who wish to minor in Economics must take:
| ECON 301 | Intermediate Price Analysis | 3 |
| or ECON 302 | Intermediate Macroeconomics | |
| Plus two approved ECON electives | 6 | |
| Total Credits | 9 | |
Students who are in schools other than the school of business and who wish to pursue a minor in Economics must take:
| ECON 203 | Microeconomics | 3 |
| or ECON 150 | Roots: Economics | |
| ECON 204 | Macroeconomics | 3 |
| Plus three approved ECON electives | 9 | |
| Total Credits | 15 | |
A minimum grade of C is necessary to receive minor credit.
Finance
Learning Goals for the Finance Major
1. To gain an understanding of financial theories and their applications in financial decision-making.
2. To develop the analytical skills required to build financial models and interpret financial data, markets, and reports.
3. To acquire the ability to identify and deal with ethical issues and increase awareness of social responsibility in a financial setting.
Major
Requirements for a Major in Finance/CFA Track
The major in Finance is available to O'Malley School of Business students only. Students must take, in addition to the Business Core courses, FIN 308, FIN 324, FIN 416, FIN 432, FIN 436, and two Finance electives. A minimum grade of C is necessary to receive major credit.
Students should complete BUAN 227 and FIN 301 by the end of their sophomore year. Students majoring in Finance can use their free electives (6 credits) to fulfill the requirements for their degree. The Finance degree has been accepted into the CFA Institute University Recognition Program. This status is granted to institutions whose degree program(s) incorporate at least 70% of the CFA Program Candidate Body of Knowledge (CBOK), that provides students with a solid grounding in the CBOK and positions them well to sit for the CFA exams.
| FIN 308 | Investments | 3 |
| FIN 324 | Corporate Finance | 3 |
| FIN 416 | Options and Futures Markets | 3 |
| FIN 432 | Fixed Income Analysis | 3 |
| FIN 436 | Multinational Finance | 3 |
| Two FIN electives | 6 | |
| Total Credits | 21 | |
A minimum grade of C is necessary to receive major credit.
The department offers a concentration in Insurance & Risk Management. Interested students are required to take the following two courses as their finance electives.
| FIN 370 | Insurance and Risk Management | 3 |
| FIN 380 | Applied Portfolio Management | 3 |
Internships
Students majoring in Finance are encouraged to complete a business internship. Students can complete an approved internship experience for academic credit. Free Elective credit may be used to complete FIN 375 Assimilating the Internship Experience in Finance. Interested students must consult with the Assistant Dean for Career Development for guidance on the process of securing an appropriate internship and obtaining the required faculty sponsorship. Faculty supervisors will define appropriate academic activities in parallel to work requirements in order to provide a complete internship experience. Credit-bearing internships must be approved by the Department Chair, Dean, and Assistant Dean for Career Development.
Recommended course sequence for Finance majors:
| First Year | |||
|---|---|---|---|
| Fall | Credits | Spring | Credits |
| ECON 203* | 3 | ECON 204* | 3 |
| MATH 153 or 185* | 3 | MATH 154 or 186* | 3 |
| ENGL 110 | 3 | ENGL 211 | 3 |
| CIS 110 | 3 | RELS 110 | 3 |
| MGMT 201 or MKTG 201 | 3 | MKTG 201 or MGMT 201 | 3 |
| 15 | 15 | ||
| Second Year | |||
| Fall | Credits | Spring | Credits |
| BUAN 227 | 3 | FIN 301 | 3 |
| ACCT 201* | 3 | ACCT 202* | 3 |
| SOC 201 | 3 | PHIL 201 | 3 |
| PSYC 203 | 3 | LAW 203 | 3 |
| ENGL Elective | 3 | SCI Elective | 3 |
| 15 | 15 | ||
| Third Year | |||
| Fall | Credits | Spring | Credits |
| FIN 308* | 3 | FIN 324* | 3 |
| ECON 305 | 3 | FIN 416* | 3 |
| HIST Elective | 3 | MGMT 307 | 3 |
| RELS Catholic Studies | 3 | Free Elective | 3 |
| FIN Elective | 3 | SCI Elective | 3 |
| 15 | 15 | ||
| Fourth Year | |||
| Fall | Credits | Spring | Credits |
| FIN 432 or 436 | 3 | FIN 436 or 432 | 3 |
| MGMT 406 or 430 | 3 | MGMT 430 or 406 | 3 |
| 2 Liberal Arts Electives | 6 | RELS Global/Contemporary | 3 |
| FIN Elective | 3 | Liberal Arts Elective | 3 |
| Free Elective | 3 | ||
| 15 | 15 | ||
| Total Credits: 120 | |||
*Courses must be taken in sequence
Minor
Requirements for a Minor in Finance
Students who are in Schools other than Business may pursue a Minor in Finance. Students must obtain the permission of the School in which they are enrolled. To Minor in Finance a student must complete the following fifteen credits:
| ACCT 201 | Principles of Accounting I | 3 |
| BUAN 227 | Business Statistics | 3 |
| ECON 305 | Money and Banking | 3 |
| FIN 301 | Principles of Business Finance | 3 |
| FIN 308 | Investments | 3 |
| Total Credits | 15 | |
Students in the O'Malley School of Business who wish to Minor in Finance must complete the following, in addition to the core courses required of all students in Business:
| FIN 308 | Investments | 3 |
| FIN 324 | Corporate Finance | 3 |
| FIN 432 | Fixed Income Analysis | 3 |
| Total Credits | 9 | |
A minimum grade of C is necessary to receive minor credit.
Double Major in Finance and Economics
Requirements for a Double Major in Finance and Economics/CFA Track
The double major in Finance and Economics is designed to thoroughly ground students in the relationship between Economics and Finance and how the two disciplines prepare them for the analysis of the economy in general and the actions of companies and the financial markets in particular. Emphasis is placed on the economic environment in which companies operate and the reaction and values assigned by the asset markets. The interaction between fiscal policy, monetary policy, corporate strategies, and market valuations are examined to provide a comprehensive understanding of the relationship between the real and financial economies. The Double Major in Economics and Finance has been accepted into the CFA Institute University Recognition Program. This status is granted to institutions whose degree program(s) incorporate at least 70% of the CFA Program Candidate Body of Knowledge (CBOK), which provide students with a solid grounding in the CBOK and positions them well to sit for the CFA exams.
Required and elective courses will parallel the material necessary to prepare students for the first part of the CFA exam, which can be taken either during the senior year or after the completion of undergraduate studies. For details, please contact the chairperson.
The double major in Finance and Economics is available to O'Malley School of Business students only. Students must take:
| FIN 308 | Investments | 3 |
| FIN 324 | Corporate Finance | 3 |
| FIN 416 | Options and Futures Markets | 3 |
| FIN 432 | Fixed Income Analysis | 3 |
| FIN 436 | Multinational Finance | 3 |
| Two FIN electives | 6 | |
| ECON 301 | Intermediate Price Analysis | 3 |
| ECON 302 | Intermediate Macroeconomics | 3 |
| ECON 334 | International Economics | 3 |
| ECON 433 | Econometrics | 3 |
| Two ECON electives | 6 | |
| Total Credits | 39 | |
A minimum grade of C is necessary to receive major credit. Students are required to complete BUAN 227 Business Statistics and FIN 301 Principles of Business Finance by the end of their sophomore year. Students double majoring in Economics & Finance can use two free electives (6 credits) and three liberal arts electives (9 credits) to fulfill the five out of six economics major course requirements. ECON 301 Intermediate Price Analysis, ECON 302 Intermediate Macroeconomics, ECON 334 International Economics, ECON 433 Econometrics, and other economics elective courses are counted as liberal arts and free electives. Student double majoring in economics and finance need to take only one extra economics elective course during the senior year. For details, please contact the chairperson.
Recommended course sequence for the double major in Economics and Finance:
| First Year | |||
|---|---|---|---|
| Fall | Credits | Spring | Credits |
| ECON 203* | 3 | ECON 204* | 3 |
| MATH 153 or 185 | 3 | MATH 154 or 186 | 3 |
| ENGL 110 | 3 | RELS 110 | 3 |
| CIS 110 | 3 | ENGL 211 | 3 |
| MGMT 201 or MKTG 201 | 3 | MKTG 201 or MGMT 201 | 3 |
| 15 | 15 | ||
| Second Year | |||
| Fall | Credits | Spring | Credits |
| BUAN 227* | 3 | FIN 301* | 3 |
| ACCT 201* | 3 | ACCT 202* | 3 |
| SOC 201 | 3 | ECON 305 | 3 |
| ENGL Elective | 3 | LAW 203 | 3 |
| PSYC 203 | 3 | PHIL 201 | 3 |
| 15 | 15 | ||
| Third Year | |||
| Fall | Credits | Spring | Credits |
| FIN 308* | 3 | FIN 416* | 3 |
| FIN 436 | 3 | FIN 324* | 3 |
| ECON 302 | 3 | ECON 301 | 3 |
| RELS Catholic Studies | 3 | ECON 334 | 3 |
| SCI Elective | 3 | MGMT 307 | 3 |
| 15 | 15 | ||
| Fourth Year | |||
| Fall | Credits | Spring | Credits |
| FIN 432 | 3 | MGMT 430 or 406 | 3 |
| ECON 433* | 3 | RELS Global/Contemporary | 3 |
| MGMT 406 or 430 | 3 | ECON Elective | 3 |
| FIN Elective | 3 | FIN Elective | 3 |
| ECON Elective | 3 | SCI Elective | 3 |
| HIST Elective | 3 | ||
| 18 | 15 | ||
| Total Credits: 123 | |||
*Courses must be taken in sequence
Economics Courses
ECON 150. Roots: Economics. 3 Credits.
An explanation and critical examination of selected concepts in the social sciences. Students examine the logic and methods of social science research and engage in analysis of contemporary social issues from the perspective of the discipline of economics. The main emphasis of the course is to study the behavior of households and business firms in the marketplace. ECON 150 or ECON 203 is the prerequisite for ECON 204.
ECON 203. Microeconomics. 3 Credits.
An introductory study of the behavior of households and business firms in the marketplace, including households as consumers and resource suppliers, business firms as producers of goods and services and buyers of resources, market structures for outputs and inputs, role of the government, and free trade vs. protection.
ECON 204. Macroeconomics. 3 Credits.
An introductory study of the determination of the level of production and the price level in the macro economy. Topics covered include inflation and unemployment, money and banks, federal budget and national debt, monetary and fiscal policy, and economic growth and development. Prerequisite: ECON 203 or ECON 150.
ECON 301. Intermediate Price Analysis. 3 Credits.
Market and factor pricing under pure competition, imperfect competition conditions and monopoly; the pricing process and the allocation of resources. Prerequisites: ECON 203, ECON 204, BUAN 227.
ECON 302. Intermediate Macroeconomics. 3 Credits.
The nature and causes of unemployment and inflation and the debate over the policies used to fight these problems in a global economy. Prerequisites: ECON 203, ECON 204, BUAN 227.
ECON 303. Mathematical Economics. 3 Credits.
A course that applies linear algebra, calculus, and unconstrained and constrained optimization techniques to solve economic problems and perform economic analysis. Topics covered include equilibrium analysis, comparative static analysis, and optimization. Prerequisite: MATH 153 and MATH 154.
ECON 305. Money and Banking. 3 Credits.
This course considers the nature of money, the markets that allocate money to a variety of uses, the institutions that create and control the money stock, the flow of money and how it is related to employment levels, GDP, inflation and interest rates, and international financial matters. Much attention will be paid to problems and issues requiring the attention of policymakers. Prerequisites: ECON 203, ECON 204.
ECON 332. Introduction to Environmental Economics. 3 Credits.
An introductory study of the way economists approach environmental problems. Topics covered include externalities, market failure, public goods, common-pool resources, policy instruments (e.g. taxes, command and control policies, cap and trade, and tradable pollution permits, and cost-benefit analysis. Prerequisites: ECON 203 and MATH 154.
ECON 334. International Economics. 3 Credits.
A study of international trade and financial relationships. Topics covered include theory of international trade, public and private barriers to trade, commercial policy of the U.S., regional economic integration, foreign exchange markets, balance of payments, disequilibrium and the adjustment process, international monetary systems, and economic development of the developing nations. Prerequisites: ECON 203 and ECON 204, and by permission of instructor.
ECON 375. Assimilating the Internship Experience in Economics.. 3 Credits.
In consultation with the faculty advisor, students design and complete an independent project related to their Economics internship. This project aids in assimilating a practical off-campus work experience in business, industry, government or cultural organization with the students’ studies and/or career interests. This course is subject to the approval of the Department Chair, Dean and Internship Coordinator of the School of Business. The student is required to pre-register with the Internship Coordinator and to obtain internship placement prior to the start of the semester. (Free elective).
ECON 401. Advanced Microeconomics. 3 Credits.
The course will focus on the analytical tools of modern microeconomics – especially game theory and information economics – and will apply these tools to economics problems such as imperfect competition, auctions, bargaining, price discrimination, moral hazard and adverse selection.
Prerequisite: ECON 301.
ECON 402. Seminar in MacroEconomics and Financial Markets. 3 Credits.
Advanced topics in macroeconomics and financial market will be discussed. Emphasis will be placed on a theoretical understanding and the applications to forecasting cyclical and dynamic movements in the economy. Prerequisites: ECON 302 and ECON 305 or by permission of Instructor.
ECON 403. Seminar in Monetary Theory and Policy. 3 Credits.
ECON 403 is designed as a survey of modern monetary policies and theories. The primary objective of the course is to examine how unconventional monetary phenomena and policies are determined, and how they impact the domestic and foreign economies. The course will also provide rigorous training for the College Federal Reserve Challenge Competition. This competition is designed to bring real-world economics into the classroom - student teams assume the role of monetary policymakers by analyzing economic conditions and recommending a course for monetary policy. Prerequisite: ECON 302.
ECON 412. Economic Growth and Development. 3 Credits.
This course offers a broad overview of the economic problems that developing countries face along with policies to mitigate these issues. Topics may include poverty, inequality, institutional breakdowns, failures in education and health care systems, environmental degradation, the international trade regime, and financial crises. Prerequisites: ECON 203 or ECON 150 and ECON 204 or by permission of instructor.
ECON 432. Applied Environmental Economics. 3 Credits.
A study of the applications of economic theory and econometric methods to analyze environmental problems and to valuate environmental improvements. Topics include: game theory, behavioral economics experiments focused on common resources, public goods, and nudges, as well as revealed and stated preference methods and applications to value improvements to the environment.
Prerequisites: ECON 203 and BUAN 227.
ECON 433. Econometrics. 3 Credits.
A systematic attempt of setting theoretical hypotheses about economic reality against empirical evidence produced by real-world situations and problems. Emphasis is on the process and application of statistical inference through the use of various distributions and on the estimation and measurement of relationships among economic variables. Prerequisites: ECON 203, ECON 204 and BUAN 227 or its equivalent.
ECON 434. Advanced Econometrics. 3 Credits.
Advanced Econometrics: It is the second of a two-course sequence that introduces the student to econometric analysis. EC444 focuses on Gauss Markov Theorem and its classical assumptions which guarantee that the OLS is the optimal estimator of the classical linear regression model. The course delves deeper into the consequences associated with violating the classical OLS assumptions and how to detect and correct for them. Course topics include the different functional forms of regression models, dummy variable regression models, multicollinearity, heteroscedasticity, autocorrelation, model specification and diagnostic testing,
simultaneous-equation models, and identification problem. Prerequisites: ECON 433.
ECON 441. Economics Seminar. 3 Credits.
A program of supervised research and reading related to a theme or topic of economics. Open to a limited number of students majoring in economics or finance who meet the departmental requirements and have the approval of the Chair of the Department. Open to economics and finance majors only.
ECON 444. Special Topic: in Economics. 3 Credits.
ECON 470. Economics Tutorial/Independent Study. 3 Credits.
A single-semester tutorial course, related to a particular topic of economics, directed by a faculty member from the department. Open to qualified students who meet the departmental requirements and have the approval of the Department Chair and the Dean.
ECON 471. Economics Thesis Project I. 3 Credits.
An in-depth program of research, under the direction of a member of the department (mentor), leading to a comprehensive research proposal which includes a topic, a review of the literature, the research methodology, sources of data and potential results. Open to qualified students who meet the departmental requirements and have the approval of the Department Chair and the Dean.
ECON 472. Economics Thesis Project II. 3 Credits.
An in-depth program of research, under the direction of a member of the department (mentor), leading to a completion of the research project proposed in ECON 471 Thesis Project I. A defense of the thesis is required. Prerequisite: ECON 471 Thesis Project I.
ECON 475. Assimilating the Internship Experience in Economics. 3 Credits.
This course may be used as a second internship experience and/or with senior status. (Free elective).
Finance Courses
FIN 301. Principles of Business Finance. 3 Credits.
An overview of modern finance concepts and a survey of fundamental issues. Topics include basic finance terminology, time value of money, basic financial statement analysis, the structure and functions of financial markets and institutions, bond and stock valuation, and elementary capital budgeting. Prerequisites: ECON 203, ECON 204, ACCT 201 and MATH 154.
FIN 308. Investments. 3 Credits.
An introduction to the markets and instruments in investments including equity and debt securities, mutual funds, and basic derivatives including options and futures contracts as well as the principles governing the selection and management of portfolios of financial assets. Prerequisites: ECON 203, ECON 204, FIN 301, and BUAN 227.
FIN 309. Real Estate Investment. 3 Credits.
This course offers a thorough study of the fields of real estate investment and finance. It covers the basics of real estate investment analysis, mortgage concepts, and the financing of residential and commercial properties. The topics include an overview of the major types of valuation models and approaches used for analyzing the primary categories of real properties. Alternative types of mortgages are also discussed. The course emphasizes the ways in which financing and investments in real properties are similar to a range of financial assets. It integrates real estate finance topics and builds its methodology on a modern corporate finance and investment framework. Prerequisite: FIN 301.
FIN 324. Corporate Finance. 3 Credits.
Corporate finance is mainly concerned with a firm's capital generation, capital investments, and cash flow monitoring. This course, designed as the first corporate finance course for Finance majors, discusses the capital structure of corporations, managers' actions to increase firm value, and the tools and analysis used to allocate financial resources. In addition, it covers financial statement analysis, cost of capital, cash flow estimation and risk analysis, capital budgeting and basic capital structure, dividends and repurchases, IPOs , investment banking, restructuring, and hybrid financing.
Prerequisite: FIN 308.
FIN 370. Insurance and Risk Management. 3 Credits.
This course examines the many sources of risk faced by individuals and firms and how risk can best be managed. Personal and business insurance are key tools in how we respond to risk. This course begins with the basic principles of risk management and continues by examining the major forms of insurance and risk management programs. Insurance delivery systems and company operations are also surveyed. Other topics covered are legal principles as they relate to insurance, government regulation, and insurance contracts. In this introductory course, students will become familiar with a number of risk management concepts and applications, including life and health plans and personal and commercial policies. Prerequisite: FIN 308.
FIN 375. Assimilating the Internship Experience in Finance. 3 Credits.
In consultation with the faculty advisor, students design and complete an independent project related to their Finance internship. This project aids in assimilating a practical off-campus work experience in business, industry, government or cultural organization with the students' studies and/or career interests. This course is subject to the approval of the Department Chair, Dean, and Internship Coordinator of the School of Business. The student is required to pre-register with the Internship Coordinator and to obtain internship placement prior to the start of the semester. (Free elective).
FIN 380. Applied Portfolio Management. 3 Credits.
This course provides a perspective on the portfolio management process. Students will learn how to apply portfolio theory for the evaluation of performance and learn how to optimally balance risk against performance. Students will apply the concepts examined in class by actively managing a simulated portfolio. Their investment ideas, goals and portfolio performance will be presented to the class in the form of a semester-long project. The course also discusses the investment management industry structure, including organizations, products and policies.Prerequisite: FIN 308.
FIN 402. Seminar in Macroeconomics and Financial Markets. 3 Credits.
Advanced topics in macroeconomics and financial market will be discussed. Emphasis will be placed on a theoretical understanding and the applications to forecasting cyclical and dynamic movements in the economy. Prerequisites: ECON 302 and ECON 305 or by permission of Instructor.
FIN 408. Financial Intermediaries. 3 Credits.
This course provides an understanding of the operation of commercial banks, thrifts, insurance companies, investment banks, brokers, investment companies, credit unions and pension funds. Attention will be given to current trends and policy issues in the financial services industry. Prerequisites: FIN 301.
FIN 416. Options and Futures Markets. 3 Credits.
Analysis of the nature and use of derivative securities in general, and options, futures, and swap contracts in particular. Topics include market institutions and trading practices, valuation models, and hedging and risk management techniques. Prerequisites: FIN 308.
FIN 432. Fixed Income Analysis. 3 Credits.
This course introduces students to theories, models, and techniques to analyze fixed income
securities and prepares students for the fixed income part of the Level I CFA® Exam. This
course covers 1) fixed income securities and markets, 2) risk, return, and valuation of fixed
income securities, 3) credit analysis, and 4) term structure of interest rates.
Prerequisite: FIN 308.
FIN 436. Multinational Finance. 3 Credits.
An exploration and analysis of the behavior of multinational firms. Topics covered include the nature and mechanics of the foreign exchange market, impact and management of foreign exchange risk, foreign project evaluation, direct and portfolio investments, accounting exposures, balance of payments and trade accounts, and the legal and political risks and constraints surrounding multinational corporations. Prerequisite: FIN 301.
FIN 440. Advanced Topic in Finance. 3 Credits.
Select treatment of current topics in finance including financial engineering, behavior of the financial markets, the crises among financial institutions, changing financial environment, and the development of new financial products by non-banks and securities firms. Prerequisites: FIN 308.
FIN 441. Finance Seminar. 3 Credits.
A program of supervised research and reading related to a theme or topic of finance. Open to a limited number of students majoring in economics or finance who meet the departmental requirements and have the approval of the Chair of the Department. Open to economics and finance majors only.
FIN 442. Financial Modeling. 3 Credits.
This course provides an understanding of the statistical analysis and financial modeling in the fields of investment and computational finance. Topics include regression analysis, constrained and unconstrained optimization, Capital Asset Pricing Model, and models assessing efficiency in the foreign exchange market. Prerequisites: FIN 301 and BUAN 227.
FIN 444. Special Topic: in Finance. 3 Credits.
FIN 470. Finance Independent Study. 3 Credits.
A single-semester tutorial course, related to a particular topic of finance, directed by a faculty member from the department. Open to qualified students who meet the departmental requirements and have the approval of the Department Chair and the Dean.
FIN 471. Finance Thesis Project I. 3 Credits.
An in-depth program of research, under the direction of a member of the department (mentor), leading to a comprehensive research proposal which includes a topic, a review of the literature, the research methodology, sources of data and potential results. Open to qualified students who meet the departmental requirements and have the approval of the Department Chair and the Dean.
FIN 472. Finance Thesis Project II. 3 Credits.
An in-depth program of research, under the direction of a member of the department (mentor), leading to a completion of the research project proposed in FIN 471 Thesis Project I. A public defense of the thesis is required.
Prerequisite: FIN 471 Thesis Project I.
FIN 475. Assimilating the Internship Experience in Finance. 3 Credits.
This course may be used as a second internship experience and/or with senior status. (Free elective).
FIN 496. Summer Research. 0 Credits.
FIN 499. Seminar in Professional Finance. 3 Credits.
The seminar will serve as a review of the fundamental concepts of economic and financial analysis and how they apply to everyday business decisions and strategies. The course also will serve as a recap of topics from previous course work as general preparation for Part 1 of the CFA exam that students may take at some future point after graduation. Prerequisites: FIN 308 and FIN 340.