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Professor Karen Reid, Coordinator
A student of Financial Economics
will have the opportunity to explore the fundamentals of economic
theory, especially the theory pertaining to the operations and workings
of financial markets and financial institutions. Students in Financial
Economics will learn about financial asset markets (including stocks,
bonds, and exchange rates), and students will learn about various
financial institutions (including commercial banks, the Federal
Reserve System, and the International Monetary Fund). During their
studies, students will also gain an understanding of other sectors
of the economy, including business economics, labor economics, and
the global economy. The broad goal of the Financial Economics program
is to produce a graduate who can apply economic theory to decision-making,
both as a citizen in this democracy and as a member of the business
community.
Successful completion of the Financial
Economics program prepares a student for a wide range of
career opportunities. Graduates are prepared for careers in such
areas as corporation finance, investment management, commercial
and retail banking, financial institutions management, financial
analysis, business economics and economic analysis. Career opportunities
are found with corporations, financial institutions, public utilities,
nonprofit organizations and government agencies. Students also have
an excellent background for graduate studies in economics, business,
law and related fields.
Requirements for the major in Financial
Economics:
In addition to the foundation core and professional core courses
required of all majors in the Reeves School of Business, the following
courses are required for a degree in financial economics:
Required courses: BUS 315, BUS
412, ECO 311, ECO 313, and ECO 316;
Plus 6 s.h. from: BUS 437,
BUS 415, or 300/400-level economics classes.
Note: An elective course for
any Reeves School of Business major may only be used to meet the
requirements of one major. A required class in any Reeves School
of Business major may not be used as an elective for another Reeves
School of Business major.
Requirements for the minor in Financial
Economics: 18 s.h.—12 s.h. of required courses (ECO
261, ECO 262, and ECO 311; BUS 332) and 6 s.h. of electives (from
BUS 412, BUS 415, BUS 437, or any 300/400 economics course).
Requirements for the A.A. Concentration:
18 s.h.—15 s.h. of required courses (ECO 261, ECO 262, and
ECO 311; BUS 332 and BUS 412) and a (3 s.h.) elective from BUS 415,
BUS 437, or any 300/400-level Economics course.
Writing-Enrichment Course: BUS
352, ECO 452
Computer Intensive Course: BUS
225
Ethics Course: BUS 315
Concentrations Available:
FINANCIAL ECONOMICS COURSES
ECO 210 INTRODUCTION TO ECONOMICS (3
s.h.)
Theories and institutions that organize and direct economic activities
in contemporary society. Prepares students to understand domestic
and international economic problems; serves as a foundation for
further work in economics; and complements study in other areas.
(May also be taken as an elective for non-business majors. Satisfies
the social science general education core requirement for the Associate
of Science degree with a concentration in Health Care Administration).
This course is offered as needed.
ECO 216 STATISTICS FOR BUSINESS AND
ECONOMICS (3 s.h.)
Inferential statistics using business and economics data. Principal
topics: probability, hypothesis testing, regression and correlation,
and time series and forecasting. Prerequisite: MAT 105 or higher.
This course is offered every fall and spring.
ECO 261 PRINCIPLES OF MACROECONOMICS
(3 s.h.)
Aggregate income measurement and analysis, fiscal and monetary policy,
inflation, unemployment, and other current issues. This course is
offered every fall and spring.
ECO 262 PRINCIPLES OF MICROECONOMICS
(3 s.h.)
Price theory applied to product and resource markets with emphasis
on pricing and output decisions under various market conditions.
This course is offered every fall and spring.
ECO 301 ENTREPRENEURSHIP (3 s.h.)
Emphasis on business formation: feasibility studies, legal and financial
aspects of startup, tax considerations, business valuation techniques,
and accounting control systems. Prerequisites: ACC 253 and ECO 262.
This course is offered as needed.
ECO 311 MONEY, BANKING AND FINANCIAL
MARKETS (3 s.h.)
The functions of money and financial markets, commercial bank operations,
the Federal Reserve System, the macroeconomy, and the impact of
monetary policy upon economic stabilization and growth. Prerequisites:
ECO 261 and 262. This course is offered every fall and spring.
ECO 313 MANAGERIAL ECONOMICS (3 s.h.)
Intermediate-level treatment of microeconomic theory and its application
to managerial decision-making. Prerequisites: ECO 216, 261, and
262. This course is offered every fall semester.
ECO 316 ADVANCED STATISTICAL ANALYSIS
(3 s.h.)
An advanced study of statistical analyses frequently used in business
decision-making and economic forecasting. Emphasis on both multiple
regression and analysis of variance. Particular attention given
to time series analysis. Survey sampling and Chi-Square tests also
are included. Prerequisite: ECO 216. This course is offered in the
fall semester, even-numbered years.
ECO 400 CURRENT ECONOMIC ISSUES (3 s.h.)
Selected contemporary policy issues, e.g., the economic role of
government, poverty, debt financing, free trade vs. protectionism,
entrepreneurship, and problems of fiscal and monetary management.
Prerequisites: ACC 251 and ECO 261 and 262. Recommended: ACC 253.
This course is offered as needed.
ECO 420 COMPARATIVE ECONOMIC SYSTEMS
(3 s.h.)
Capitalism, socialism, communism, and fascism as economic systems
and as philosophies; resource allocation, distribution of income
and the rise of centralized economic planning in developing countries.
Prerequisites: ECO 261 and 262. This course is offered as needed.
ECO 451 LABOR ECONOMICS AND HUMAN RESOURCE
MANAGEMENT (3 s.h.)
Principles of economics applied to the human resource and its market
with emphasis on hiring, training, labor legislation, and compensation
policies relevant to the management of people at work. Prerequisites:
ECO 261 and 262. This course is offered in the spring semester,
odd-numbered years.
ECO 452 INTERNATIONAL TRADE AND FINANCE
(3 s.h.)
International trade theory and practice, the financial dimensions
of multinational exchange, institutional features and channels of
marketing, and international corporate relationships. Designated
writing-enrichment course for Financial Economics majors. Prerequisites:
ECO 261 and 262. This course is offered fall semester, odd-numbered
years and as needed.
ECO 465 ECONOMIC GROWTH AND DEVELOPMENT
(3 s.h.)
Theories of economic development with reference to the economic
history of the industrially advanced nations. Applications of theory
to problems and policies of emerging and underdeveloped economies.
Prerequisites: ECO 261 and 262. This course is offered in the spring
semester, even-numbered years.
ECO 485 SPECIAL TOPICS (3 s.h.)
Selected applications of economic theory and practice. Content and
credit vary. Prerequisites: completion of 24 s.h. of major requirements
and permission of the department chair. This course is offered as
needed.
ECO 499 INDEPENDENT STUDY IN FINANCIAL
ECONOMICS (TBA)
An opportunity for a well-qualified, upper-division student to engage
in special research in his/her major. Requires approval by the faculty
advisor, the supervising professor, the department chair, and the
school dean before approval by the Vice President for Academic Affairs.
Credit to be determined.
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