Financial Economics (BA)
Description
The Bachelor of Arts with a major in Financial Economics focuses on the academic study of economics as it applies to the realm of financial institutions and markets with a strong foundation in the theory and application of financial economic principles. Within the context of a liberal arts education, the program provides the fundamental knowledge and understanding of the principles, theories, history and institutions of an economy and the dynamics of domestic international financial developments. The program also prepares the students to think critically and to evaluate the moral and ethical issues that the students would encounter in the realm of financial markets.
The program curriculum focuses on:
- The functioning of financial instruments within financial institutions, industry and government;
- International finance and how it relates to the U.S. economy;
- Basic economic models and financial theories; and
- Application of basic moral and ethical principles in the analysis of economic systems and financial issues.
The program consists of 30 credit hours. The requirements include basic foundation courses in microeconomics and macroeconomics, research skill courses and courses specifically focused on financial economics.
The credit hours earned for the completion of the B.A. with a major in Financial Economics may not be counted toward the completion of either the B.A. with a major in Economics or for earning additional minors in economics or financial economics.
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Degree/Major Requirements
To obtain an undergraduate degree, the candidate must successfully complete the University's Core Curriculum and all Department-designated major program courses and requirements.
A minimum of 126 total credit hours is required for graduation. A minimum of 2.0 GPA must be maintained, although students should be aware that admission to graduate programs usually requires a minimum of 3.0 GPA for their undergraduate coursework.
Curriculum for the McNichols Campus
Students will complete the following courses for a total of 30 credits, in addition to the Detroit Mercy Core Curriculum.
- ECN 2950 Microeconomic Principles (3 credits)
- ECN 2960 Macroeconomic Principles (3 credits)
- ECN 3050 Money and the Financial System (3 credits)
- ECN 3150 Intermediate Microeconomics (3 credits)
- ECN 3160 Intermediate Macroeconomics (3 credits)
- ECN 4100 Mathematics For Economists (3 credits)
- ECN 4460 Money and Capital Markets (3 credits)
- ECN 4660 International Finance (3 credits)
- STA 2250 Statistics (3 credits)
Possible Electives (Choose one from the following) 3 credits:
- ECN 3480 Business Forecasting (3 credits)
- ECN 4150 Econometrics I (3 credits)
- ECN 4160 Advanced Money and Capital Markets (3 credits)
- ECN 4200 Labor Economics (3 credits)
- ECN 4300 Performance of United States Industry (3 credits)
- ECN 4355 Comparative Economic Systems (3 credits)
- ECN 4400 Economics of The Public Sector (3 credits)
- ECN 4640 Practical Issues in Financial Economics (3 credits)
- ECN 4650 Economics of International Trade (3 credits)
- ECN 4700 Special Problems in Economics (3 credits)
- ECN 4705 Economic Development (3 credits)
- ECN 4850 Monetary and Fiscal Policy (3 credits)
- ECN 4990 Senior Seminar (3 credits)
For MCC Transfer Students Completing the B.A. with a Major in Financial Economics at the Macomb University Center:
For students who have earned an associate degree from Macomb Community College (MCC), equivalent MCC classes meet core curriculum requirements at the 1000 and 2000 levels. The program consists of 30 credit hours in Economics, with the remainder undergraduate credits hours, in addition to the Detroit Mercy Core Curriculum, being in other academic disciplines. For students who have completed Macomb Community College's Skill Specific Certificate in Accounting/Finance, 13 credit hours will transfer toward Detroit Mercy's Financial Economics undergraduate major. The Macomb Community College Equivalency Guide Core Curriculum Requirements for University of Detroit Mercy's College of Liberal Arts & Education is available online.
Students who take MCC classes after admission to Detroit Mercy need to complete a guest pass application each semester. In addition to the 63 credits earned for the associate degree, an additional 33 credits from MCC are allowed.
Major Requirements Offered at Macomb University Center (UC):
Students will complete the following courses for a total of 30 credits, in addition to the Detroit Mercy Core Curriculum. Some substitution may be necessary for MCC/UC students.
- ECN 3050 Money and the Financial System (3 credits)
- ECN 3150 Intermediate Microeconomics (3 credits)
- ECN 3160 Intermediate Macroeconomics (3 credits)
- ECN 4100 Mathematics For Economists (3 credits)
- ECN 4305 History of Economic Thought (3 credits)
- ECN 4460 Money and Capital Markets (3 credits)
- ECN 4660 International Finance (3 credits)
Possible Electives (Choose three from the following) 9 credits:
- ECN 3950 Directed Reading and Research (3 credits)
- ECN 4150 Econometrics I (3 credits)
- ECN 4160 Advanced Money and Capital Markets (3 credits)
- ECN 4350 Economic History of the United States (3 credits)
- ECN 4400 Economics of The Public Sector (3 credits)
- ECN 4460 Money and Capital Markets (3 credits)
- ECN 4640 Practical Issues in Financial Economics (3 credits)
- ECN 4705 Economic Development (3 credits)
- ECN 4850 Monetary and Fiscal Policy (3 credits)
- ECN 4990 Senior Seminar (3 credits)
Supportive Core Requirements Taken at MCC:
- BUSN 1010
- ECON 1160
- ECON 1170
- FINC 1010
- MATH 1340
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College of Liberal Arts & Education Core Curriculum
See University Core Curriculum for more information. Specifically, the student should follow the core for the College of Liberal Arts & Education.
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Course Delivery
To provide greater convenience and flexibility, courses will be available in different delivery options:
- Traditional day and evening in-classroom format
- Online courses
The program is offered at Detroit Mercy's McNichols Campus and Macomb University Center at Macomb Community College in Clinton Township, Mich.
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Admission Requirements
Prerequisites and Admission Requirements
In order to be admitted to the undergraduate Financial Economics program, the applicant must meet University of Detroit Mercy entrance requirements. Transfer students must have a minimum undergraduate GPA of 2.0 to be considered for admission.
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Financial Economics Minor
The Financial Economics minor requires 18 credits.
The curriculum for business administration or accounting majors is:
- ECN 2950 Microeconomic Principles (3 credits)
- ECN 2960 Macroeconomic Principles (3 credits)
- ECN 4460 Money and Capital Markets (3 credits)
- ECN 4640 Practical Issues in Financial Economics (3 credits)
- ECN 4660 International Finance (3 credits)
- ECN 4850 Monetary and Fiscal Policy (3 credits)
The curriculum for all other majors is:
- ECN 2950 Microeconomic Principles (3 credits)
- ECN 2960 Macroeconomic Principles (3 credits)
- ECN 3050 Money and the Financial System* (3 credits)
- ECN 4460 Money and Capital Markets (3 credits)
- ECN 4850 Monetary and Fiscal Policy (3 credits)
- Possible Electives—Choose One from the Following (3 credits):
*Note: ECN 3050 may not be counted toward the minor in Financial Economics by students majoring in Business Administration or Accounting. Students majoring in Business Administration or Accounting must complete both ECN 4640 and ECN 4660.
In addition to the University limitation that a student cannot major and minor in the same program, the department further limits department majors and minors in crossing over between Economics and Financial Economics.
For a student wishing to minor in Financial Economics, please contact Bruce Brorby at brorbybm@udmercy.edu for more information.
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Faculty
Detroit Mercy's Economics faculty have significant academic as well as practical experiences in the world of finance, economics and business. Specific areas of expertise include international and development economics, financial institutions and public policy and economic theory.
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Career Options
The Financial Economics major provides the student with the foundation for a career within the fields of investment banking, asset management, commercial banking, consulting and management in financial institutions. Inside the financial functions in manufacturing or service industries, and in various levels of government or non-profit organizations, students will be well prepared to provide corporate financial management services.
The degree also helps students prepare for careers in either the legal profession or in the rapidly emerging international sector of financial markets as well as provides students with a well-sorted training for further education in the fields of Financial Economics.
The degree targets one of the fastest growing employment sectors in the economy. According to the U.S. Department of Labor, Bureau of Labor Statistics, the "overall employment of financial analysts and personal financial advisors is expected to increase faster than average for any occupations through 2014, resulting from increased investments by businesses and individuals." Globalization of the securities markets and deregulation of the financial services industry will also increase the demand for financial analysts and personal financial advisors.
Program Contact Information
Department Chair: Raphael Shen, S.J., Ph.D.
Briggs Building, Room 315
McNichols Campus
Email: shenrs@udmercy.edu
Telephone: 313-993-1738
Fax: 313-993-1166