ECONOMICS AND FINANCE
Chair: Ramin Cooper Maysami
Faculty:
Mohammad Ashraf1, Alexander N. Chen, Mark Dalen,
James R. Frederick, David O. Fricke, Charles F. Harrington, Cliff Mensah, Donald R. Soucy
1Director of Economic and Business Research
The
Department of Economics and Finance contributes to a business education that
establishes a foundation for successful, principled, and ethical professional
careers in both regional and global environments.
Classes
offered by the Department of Economics and Finance are not only integral to the
Bachelor of Science Degrees offered by the School of Business, but also
contribute to the general education mission of the University in “graduating
students with broad vision who recognize the complexity of social problems.”
The
Department values intellectual curiosity and actively promotes creative
thinking among students. Faculty members
participate in a balanced and eclectic program of research-enhanced teaching.
The
Economics Track within the Bachelor of Business Administration prepares
students for a variety of careers in the government or business sectors, and
job opportunities abound in economic consulting and research. Corporate jobs concerned with practical applications
of economic policy and microeconomic forecasting are also routinely available.
The
Finance Track offers proficiencies and research capabilities needed for careers
in the banking and insurance sectors and in securities markets, as well as
careers as financial managers, financial analysts, and personal financial
advisors.
Both tracks offer equip students with
means of success in pursuing graduate degrees.
The Department of Economics and Finance
offers a minor in Economics for non-Business majors.
BACHELOR OF SCIENCE IN BUSINESS ADMINISTRATION
|
Requirements for a Bachelor of Science in
Business Administration |
Sem. Hrs. |
|
Freshman
Seminar |
1 |
|
General
Education, including: MAT 107 and 215 or 221, ECN 202, 203 |
44 |
|
BSBA Common Body of Knowledge DSC 209, BLAW 215; ACC 227, 228; DSC 313,
314; MGT 303, 306; MKT 312, FIN 310; ECN 301 or ECN/FIN 304; ITM 301; MGT
441, 466 |
42 |
|
Track (see below): choose one Economics, Finance |
12 |
|
Business
Electives (300 or 400 level) |
6 |
|
General
Electives |
15 |
|
|
Total:120 |
Tracks: select one
Economics Track (12 hours): ECN 301*, 330, 411, 440, ECNS 4xx
*ECN 301 cannot be taken as part of the BSBA Common Body of Knowledge
Finance Track (12 hours): FIN 304,* 410, 418, and FIN 305, 421 or FINS 4xx
*ECN 304/FIN 304 cannot be taken as part of the BSBA Common Body of Knowledge
MINOR (for non-Business majors only)
|
Requirements for a Minor in Economics |
Sem. Hrs. |
|
Required
Courses ECN 202 and 203 |
6 |
|
Choose
four courses from: ECN 301, 304, 330, 341, 406, 407, 408, 440 |
12 |
|
|
Total: 18 |
DECISION SCIENCE (DSC)
DSC 109. Business Uses of Computers
An introduction to the uses of microcomputers in business. Primary emphasis on spreadsheet analysis. Also includes DOS, word processing, database management. Fall, Spring. Credit, 3 semester hours.
DSC 209. Spreadsheet and Database Management
A comprehensive advanced-level course in spreadsheet analysis and database management. The focal point in this course will be on the use of spreadsheet analysis and database management to address contemporary business problems. Fall, Spring. Credit, 3 semester hours. PREREQ: DSC 109 or permission of the instructor.
DSC 313. Business Statistics I
A study of descriptive statistics including functional and summation notation, describing data graphically and numerically, and probability distributions. Fall, Spring. Credit, 3 semester hours. PREREQ: C or better in MAT 107.
DSC 314. Business Statistics II
A study of statistical inference including probability theory, random variables and probability distributions, testing hypotheses, estimating unknown parameters, analysis of variance, and linear and multiple regression. Fall, Spring. Credit, 3 semester hours. PREREQ: A “C” or better in DSC 313.
DSC 365. Management Science
The mathematical concepts application to the solution of management problems. Topics include linear programming, decision theory, optimization, queuing theory, and transportation modeling. As Announced. Credit, 3 semester hours. PREREQ: DSC 314, MGT 306.
ECONOMICS (ECN)
ECN 100. Economics of Social Issues
Economic thinking applied to persistent economic problems and issues in a market economy. Emphasis on implications for government policy rather than on the underlying theory. Topics include the nature of an economic system, demand and supply, monopolies, pollution and public goods, ethics and law, unemployment, inflation, the Federal Reserve System and money. Fall, Spring. Credit, 3 semester hours.
ECN 202. Principles of Microeconomics
This course focuses on the individual decisions in the market economy. After an overview of how a market economy works, the course develops theories of consumer behavior, the behavior of firms in various degrees of competition, and workers’ decision to offer labor. Government regulation of markets is also examined. Fall, Spring. Credit: 3 semester hours.
ECN 203. Principles of Macroeconomics
This course offers an overall picture of the operation of our economy. The course focuses on how the economic system determines the level of national income, the unemployment rate, and the rate of inflation. Fiscal, monetary, and supply-side policies are discussed. Fall, Spring. Credit: 3 semester hours.
ECN 206. Economic Geography (GGY 206)
Geographic analysis of the location, development and distribution of major industries, resources, agricultural products, and economic services. Study of economic development problems and prospects. Fall, Spring. Credit, 3 semester hours.
ECN 301. Managerial Economics
Price determination, income distribution, consumer behavior, resource allocation, and the theory of the firm. Fall, Spring. Credit, 3 semester hours. PREREQ: A “C” or better in MAT 215 or 221 and ECN 202 or permission of the instructor.
ECN 304. Money, Financial Markets, and Institutions (FIN 304)
Study of financial institutions and their role in the economy. Analysis includes the Keynesian macroeconomic model and effects of money and credit on national income, prices, and interest rates. Fall, Spring. Credit, 3 semester hours. PREREQ: A “C” or better in MAT 215 or 221 and ECN 203 or permission of the instructor.
ECN 330. Public Finance (PSPA 331)
A descriptive and analytical study of government revenues and government expenditures. Includes federal, state, and local levels of government. As Announced. Credit, 3 semester hours. PREREQ: ECN 202 or ECN 203.
ECN 341.
A study of the
ECN 406. Comparative Economic Systems
A comparative study of alternative economic systems, including communism, socialism, and capitalism. As Announced. Credit, 3 semester hours. PREREQ: ECN 202, ECN 203.
ECN 407. Labor Economics
Examines the nature of the labor markets and problems dealing with labor groups. Topics include history of the labor movement, union structure, labor law, collective bargaining. As Announced. Credit, 3 semester hours. PREREQ: ECN 202, ECN 203.
ECN 408. Economic Development
Analysis of economic and social problems of underdeveloped regions. Theories and strategies of economic growth and development designed to accelerate solutions to these problems. As Announced. Credit, 3 semester hours. PREREQ: ECN 202, ECN 203.
ECN 411. Development of Economic Thought
A basic course in the development of economic theories and doctrines, from the ancient Greeks to the present day. As Announced. Credit, 3 semester hours. PREREQ: ECN 202, ECN 203.
ECN 440. International Trade
An introductory analysis of international trade relations, the nature of a country’s imports and exports, costs and benefits of trade protectionism, the role of trade in the domestic economy, balance of payments, and the determination of exchange rates. As Announced. Credit, 3 semester hours. PREREQ: ECN 202, ECN 203.
ECN 499. Directed Studies in Economics
Independent study in an area of economics of particular interest to a student under the direction of one or more faculty members. Students must submit detailed proposals for a directed study, detailing the proposed plan of study, research involved, dates for deliverables, final product to be produced and faculty who will be supervising. Proposals will be reviewed by a faculty committee to determine acceptance of the proposal. Fall, Spring. Credit, 1-3 semester hours. PREREQ: ECN 202, ECN 203, and permission of the Department.
ECNS 4xx. Special Topics in Economics
The study of a particular topic of special importance, relevance, and currency in the field of economics. The content of the special topics course varies with each offering. Course may be repeated as long as topic being studied is different. As Announced. Credit, 3 semester hours. PREREQ: ECN 202, ECN 203.
FINANCE (FIN)
FIN 205. Personal Finance
Course focuses on tools consumers can use in making purchase decisions. Topics include planning and managing personal finances, credit, insurance, real estate, financial investments, retirement planning and estate planning. As Announced. Credit, 3 semester hours.
FIN 304. Money, Financial Markets, and Institutions (ECN 304)
Study of financial markets and financial institutions and their role in the economy. Analysis includes the Keynesian macroeconomic model and effects of money and credit on national income, prices, and interest rates. Fall, Spring. Credit, 3 semester hours. PREREQ: A “C” or better in MAT 215 or 221 and ECN 203 or permission of the instructor.
FIN 305. Risk Management and Insurance
This course provides for the future business manager an introduction to the nature and management of risk. Theory and application into the nature of risk, exposure, insurance, and hedging are covered. Insurance is covered from the point of view of the business person, to be a smart consumer of insurance services; as well as from the point of view of a potential insurance industry representative or executive. As Announced. Credit, 3 semester hours. PREREQ: FIN 310, DSC 313.
FIN 310. Business Finance
Principles of financial management as they apply to American business organizations. The role of finance and the financial manager, risk, return and interest rates, long‑term investment decisions, cost of capital, and short and long term financing decisions. Fall, Spring. Credit, 3 semester hours. PREREQ: A “C” or better in ACC 228, DSC 313 or equivalent statistical course, and MAT 107 or permission of the instructor.
FIN 410. Financial Management
Finance from the viewpoint of the financial manager. This course introduces and utilizes the case study method to explore differences in financial policy, financial statements for ratio analysis, capital budgeting investment decisions, and strategic bond and stock valuations. As Announced. Credit, 3 semester hours. PREREQ: A “C” or better in FIN 310 or permission of the instructor.
FIN 418. Investment Analysis and Portfolio Management
Equity and debt securities as investments, the organization and functions of the capital market, and the analysis and evaluation of securities and portfolios. As Announced. Credit, 3 semester hours. PREREQ: A “C” or better in FIN 310 or permission of the instructor.
FIN 420. Bank Management and Policy
Course focuses on the theory and practice of management of commercial banks and other depository institutions. Primary emphasis is on the application of concepts and analytical tools crucial to decisions facing managers of contemporary banks. Areas covered include financial and portfolio management, deposit acquisitions, capital adequacy, managerial objectives, market and regulatory environment, and dimensions of risk. Spring. Credit, 3 semester hours. PREREQ: A “C” or better in FIN 310 or permission of the instructor.
FIN 421. International Finance
This course will provide the student with a comprehensive survey of complex financial concepts as applied to the international arena, through the exploration of theoretical constructs and their practical applications. Topics explored include the international macroeconomic environment, international financial landscape, and the management of the multinational firm. Credit, 3 semester hours. PREREQ: FIN 310, DSC 313, MAT 215 or 221.
FIN 480. Financial Institution Internship
A work experience in a bank or financial institution where the student, under academic and employer supervision, participates in actual managerial functions and is exposed to the daily operation, decisions and working policies of the bank (minimum of 40 work hours per semester credit hour required). Students must keep an extensive diary of work experiences and submit frequent reports to the academic supervisor. As Announced. Credit, 1-3 semester hours. Pass/Fail. May be repeated for credit. PREREQ: A “C” or better in FIN 310 and the consent of Dean or faculty member supervising bank internships.
FIN 499. Directed Studies in Finance
Independent study in an area of finance of particular interest to a student under the direction of one or more faculty members. Students must submit detailed proposals for a directed study, detailing the proposed plan of study, research involved, dates for deliverables, final product to be produced, and faculty who will be supervising. Proposals will be reviewed by a faculty committee to determine acceptance of the proposal. Fall, Spring. Credit, 1-3 semester hours. PREREQ: A “C” or better in FIN 310 and permission of the Department.
FINS 4xx. Special Topics in Finance
The study of a particular topic of special importance, relevance, and currency in the field of finance. The content of the special topics course varies with each offering. Course may be repeated as long as topic being studied is different. As Announced. Credit, 3 semester hours. PREREQ: A “C” or better in FIN 310 or permission of the instructor.