Bachelor of Arts in Financial Economics

The Bachelor of Arts degree in Financial Economics centers around the academic study of economics as it applies to the realm of financial 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 a deeper knowledge of economic theories and principles, of history, institutions and world economy, and prepares the students to think critically about moral and ethical issues that the students encounter in the realm of financial markets.

The program consists of 30 credit hours in Economics.  The requirements include basic foundation courses in microeconomics and macroeconomics, research skill courses, and courses specifically focused on financial economics.  A number of the requirements and elective Economics courses in the program are approved for Teacher's Certification by the State Board of Education.

The credit hours earned for the completion of the BA in Financial Economics may not be counted toward the completion of either the BA in Economics or for the minors in Economics or Financial Economics.

Learning Objectives and Goals

Graduates of the program will:

1. Understand the tools, concepts, and models of contemporary financial economics

2. Be able to demonstrate the ability to relate and apply economic analysis to current issues and problems in financial economics

3. Be familiar with relevant data sources in financial economics and their usefulness in providing support for economic analysis

4. Be able to evaluate policy proposals in the area of financial economics, including differentiating between the normative and the positive aspects of those proposals

Career Options

The Financial Economics major prepares the student for a career in industry, financial and non-profit institutions, or in various levels of government. The degree also helps students prepare for careers in the rapidly emerging international sector of the economy. In addition, 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.

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 the McNichols campus and University Center at Macomb Community College in Clinton Township.

Admissions Requirements

In order to be admitted to the undergraduate Financial Economics program, the applicant must meet entrance requirements of University of Detroit Mercy. Transfer students must have a minimum undergraduate GPA of 2.0 to be considered for possible admission.

Degree Requirements

To obtain an undergraduate degree, you must successfully complete the University's Core Curriculum (eighteen courses outside of a student's major that are designed to ensure a well-rounded education) and all designated major program courses.

A minimum of 126 total credit hours is required for graduation. A minimum 2.0 GPA must be maintained, although students should be aware that admission to graduate programs usually requires a minimum 3.0 GPA for undergraduate course work.

For MCC Transfer Students:

For students who have earned an associate degree from Macomb Community College, equivalent MCC classes meet core curriculum requirements at the 100 and 200 levels. For students who have completed Macomb Community College's Skill Specific Certificate in Accounting/Finance, 13 credit hours will transfer toward UDM's Financial Economics undergraduate major. The Macomb Community College Equivalency Guide Core Curriculum Requirements for UDM College of Liberal Arts & Education is available online.

Students who take MCC classes after admission to UDM need to complete a guest pass application each semester. Using the guest pass procedure, in addition to the 63 credits earned for the associate degree, twenty-four credits from MCC are allowed.

Curriculum

For students entering Fall 2012 or later:

Required Courses (27 credits)

  • ECN 2950
    Microeconomic Principles 3 cr. (ECON 1170*)
  • ECN 2960
    Macroeconomic Principles 3 cr. (ECON 1160*)
  • ECN 3050
    Money and the Financial System 3 cr.
  • ECN 3150
    Intermediate Microeconomics 3 cr.
  • ECN 3160
    Intermediate Macroeconomics 3cr.
  • ECN 3580
    Money and the Capital Markets 3 cr.
  • ECN 4100
    Mathematics For Economists
  • ECN 4660
    International Finance 3 cr.
  • STA 2250
    Statistics 3 cr.

Electives (3 Credits)*

*The elective will become a senior seminar upon approval by the various University Committee

For students entering prior to Fall 2012:

Students will complete the following courses for a total of 30 credits, in addition to the UDM Core Curriculum.

  • ECN 2950
    Microeconomic Principles 3 cr. (ECON 1170*)
  • ECN 2960
    Macroeconomic Principles 3 cr. (ECON 1160*)
  • ECN 3050
    Money and the Financial System 3 cr.
  • ECN 3150
    Intermediate Microeconomics 3 cr.
  • ECN 3160
    Intermediate Macroeconomics 3cr.
  • ECN 3580
    Money and the Capital Markets 3 cr.
  • ECN 4400
    Economics of the Public Sector 3 cr.
  • ECN 4660
    International Finance 3 cr.

Electives

Two courses required from the following:

  • ECN 3070
    Business Economics Analysis 3 cr.
  • (FINC 1010*)
  • ECN 3130
    Capital and Interest 3 cr.
  • ECN 3310
    Economic Analysis of Financial Resources 3 cr.
  • ECN 3470
    Economic Development 3 cr.
  • ECN 3480
    Business Forecasting 3 cr.
    (BUSN 1010*)
  • ECN 3550
    Economic Thought 3cr.
  • ECN 3760
    Monetary and Fiscal Policy 3 cr.
  • ECN 3850
    Comparative Economic System 3 cr.
  • ECN 3900
    An Overview of Austrian Economics
  • ECN 4150
    Introduction to Econometrics 3 cr.
  • ECN 4520
    Seminar in Market Economics 3 cr.
  • ECN 4640 
    Practical Issues in Financial Economics 3 cr.
  • ECN 4750
    Natural Resource Economics
  • STA 2250
    Statistics 3 cr.
    (MATH 1340*)

*Courses transferable from Macomb County Community College

For course descriptions, please view the online catalog at www.udmercy.edu/catalog.

Faculty

UDM's Economics faculty have significant academic experience as well as practical experience in the world of finance, economics and business. Specific areas of expertise include international and resource economics, financial institutions and public policy, and economic theory.