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Financial Economics

Course Descriptions

Economics Courses:

ECO 150 Principles of Microeconomics (4 SH). Fundamental economic concepts and theories of supply and demand, resource allocation, taxation, international trade, externalities, public goods, market models, and labor markets. An emphasis on applications in both public policy and individual decision making will be recurrent throughout the course.

ECO 152 Principles of Macroeconomics (4 SH). The course concerns the aggregate economic variables of gross domestic product, the consumer price index, employment, consumption, saving, investment, imports, exports, exchange rates, taxes, government spending and debt, money, and interest rates, and how they fluctuate and are related to each other. The effects of individual behavior and government policy on these variables receive attention.

ECO 310 Intermediate Microeconomic Theory (4 SH). An intensive theoretical examination of specific economic units and of the determination of product and factor prices under various market structures. The course also includes applications of the theory to contemporary economic problems. Prerequisites: ECO 150 and MTH 131 (or equivalent).

ECO 320 Intermediate Macroeconomic Theory (4 SH). An in-depth study of the methods and concepts of national income analysis with particular reference to the role of fiscal and monetary policy in maintaining full employment without inflation. The course also includes discussions of the measurement of economic activity. Prerequisites: ECO 152 and MTH 131 (or equivalent).

ECO 340 Money and Banking (4 SH). A study of the role of money in an economic system, the operation and evolution of central banking systems, and the functioning of financial institutions. Among the topics presented are the nature and function of money and credit, classes and functions of commercial banks and their operations, the structure and operation of the Federal Reserve System, theories of the value of money, credit control, and monetary policy. Prerequisite: ECO 152.

ECO 365 International Trade and Finance (4 SH). An introduction to theories and policies concerning international trade, open economy macroeconomics, and international finance. Topics include traditional and modern theories of international trade, trade policies in advanced and developing countries, the balance of payments, fixed and flexible exchange rates, arbitrage and hedging, monetary and fiscal policies, currency areas, international debt, and the global capital market. Prerequisites: ECO 150 and 152. (Also listed as BA 365.)

ECO 385 Financial Economics (4 SH). The course presents the Black-Scholes theory of options, futures markets, the time value of money, the rate of return on investment, cash flow sequence, utility functions, expected utility maximization, mean-variance analysis, value at risk, optimal portfolios, and the capital asset pricing model. Prerequisites: ECO 150 and BA/ECO 220 (or equivalent). (Also listed as BA 385.)

ECO 601 Econometrics (4 SH). This capstone course emphasizes the creative nature of economics by examining the ways that economists identify issues, test theories and deal with the limitations of their discipline. The course will integrate the studentĂ­s previous work with readings that emphasize the range of applications addressed by the discipline. In addition, students will be expected to define an appropriate research topic, learn how others have addressed the issue, and formulate and carry through their own investigation of the topic. Prerequisites: ECO 150, two other ECO courses (except ECO 220), MTH 131, and BA/ECO 220 (or equivalent). (Also listed as BA 330.)

Supporting Courses:

ACC 201, 202 Principles of Accounting I and II (4 SH). A two-semester study of the basic principles and concepts underlying the measurement of financial activity, and the preparation and use of financial statements. Among the topics will be basic accounting theory, transaction analyses, income determination, asset and liability valuation. The second semester will be a continuation of the basic accounting concepts, plus issues that relate to the financial management of a company, cost behavior, cost control, capital budgeting and profit planning. Prerequisite: ACC 201 for ACC 202.

ACC 305, 306 Intermediate Accounting I and II (4 SH). A two-semester advanced study of accounting principles as they relate to the preparation, form, content and decision usefulness of financial statements. Selected topics include the conceptual framework of accounting, current professional pronouncements, revenue recognition, income determination and presentation, asset valuation and measurement, liability and equity reporting and financial statement analysis. Prerequisites: ACC 201 and ACC 202 for ACC 305, and ACC 305 for ACC 306.

BA 350 Finance (4 SH). A study of the financial principles involved in operating a business enterprise. Topics include asset management, creditor relationships, ownersĂ­ equities, budgeting for future capital needs and cash requirements, and the management of income and expenses. Prerequisites: ECO 150, ACC 201, ACC 202, BA/ECO 220 (or equivalent), and MTH 131.

BA 380 Investments (4 SH). A course which presents a realistic picture of investment problems and the means for their successful solution. Description of the basic investment instruments is provided. Prerequisites: ACC 201 and ACC 202. BA 350 is strongly recommended.

CS 151 Principles of Computer Science I (4 SH). A broad introduction to the discipline of computer science, with attention given to many components of the field. Topics include an examination of subfields of computer science, computer representation of data, an introduction to hardware structure, and fundamentals of programming languages. Special emphasis is given to techniques for problem solving and algorithm development, designing and implementing computer programs, and software analysis and verification methods. Prerequisite: prior programming experience recommended

MTH 131 Applied Calculus (4 SH). A one-semester study of applications of differential and integral calculus with emphasis on polynomials, exponential functions, logarithmic functions, business and economics applications. This course is for individuals with a good high school background in mathematics. This course does not provide the background for a student to continue on to Calculus II. Not available to students who have credit for MTH 150, MTH 152, or MTH 250. Prerequisites: C or better in MTH 130 or permission of the instructor or department chair.

MTH 150 Calculus I (4 SH). This course will focus on the fundamentals of differential calculus. Topics considered include functions, limits, continuous functions, differentiation and integration of functions with one real variable, applications of differentiation and the Fundamental Theorem of Calculus. Students will be introduced to some basic calculus proofs. This course is suggested for all students who expect to continue for any advanced degree including finance, law, and medicine.

MTH 152 Calculus II (4 SH). This course will focus on the fundamentals of integral calculus, including techniques and applications of integration. Other topics include infinite series and introductory topics from differential equations. Prerequisite: MTH 150.

MTH 250 Calculus III (4 SH). An introduction to the calculus of several variables. Topics include the geometry of three-dimensional space, partial derivatives, multiple integrals, and vector calculus. Prerequisite: MTH 152.

MTH 335 Statistics (4 SH). An introduction to statistics. Topics include exploratory data analysis, descriptive and inferential statistics. Both classical, and bootstrapping and randomization approaches to inferential analysis are taken. Prerequisites: MTH 152 and MTH 241.


What can you do with a Financial Economics degree?

Imagine yourself in industry analyst, a banker, a policy advisor, a lawyer, or an economics grad student.