- Faculty
- Field Description
- The Major in Finance
- The Major in Economics (BBA)
- The Major in Economics (BA)
- The Minors and Courses
- Courses
- Department of Economics and Finance Web Site
Field Description
The Bert W. Wasserman Department of Economics and Finance offers courses that enable students to prepare for careers in all areas of finance and business economics.
Economics presents theories and tools for systematic analyses of economic forces that affect everyday life. It includes microeconomics, macro-economics, and international economics. Micro-economics analyzes the actions and interactions of individual consumers, business, and government. Macroeconomics studies national income, inflation, unemployment, economic growth, and government policies. International economics builds on micro- and macro-economics to study international trade, finance, markets, and institutions.
Finance includes the study of money and capital markets, investments, and corporate finance. In addition to these traditional areas, it includes the study of modern developments in derivatives; financial market structure, such as electronic-based trading techniques and markets; and international markets and corporate finance.
The Majors
The BBA Major in Finance
The finance major prepares students for professional positions in financial institutions, including commercial, investment, and savings banks; brokerage firms; insurance companies; investment advisory services; and finance companies. Students will also be well prepared to enter the finance departments of nonfinancial corporations, nonprofit institutions, and governmental agencies.
Students who are planning on future graduate study in finance or business are strongly recommended to include advanced courses in mathematics, statistics, and econometrics in their undergraduate programs.
Program Learning Goals
Corporate Finance | Students will develop an understanding of the key concepts of time value of money, corporate finance models for project valuation, and basic capital structure and dividend theory. |
Investments | Students will be able to define and calculate standard risk and return measures, value simple equity and bonds securities, and explain the modern portfolio theory and the capital asset pricing model. |
Derivatives | Students will understand the basic applications of derivatives in investments and corporate finance and will be able to discuss the characteristics of derivative products. |
Data Analysis | Students will be able to analyze data and estimate models for project valuation to support business decisions |
Required courses for the BBA degree include
, , and . FIN 3000 is a prerequisite to all other finance courses.The finance major includes three required courses (9 credits) and five electives (15 credits). Liberal arts courses applied in this major will count towards the 54 business credit minimum instead of the 62 liberal arts credit minimum.
Required Courses 9 credits
The three required courses build on the foundations of the introductory finance course. These courses are prerequisites to all 4000-level finance courses. Students must earn a GPA of 2.0 or better in the three required courses to take any of the 4000-level finance courses.
Corporate Finance | 3 credits | |
Investment Analysis | 3 credits | |
Statistical Analysis for Economics and Finance | 3 credits |
Elective Courses 15 credits
In addition to the three required courses, a student majoring in finance must take a meaningful combination of five elective finance, economics, or insurance courses at the 3000 level or 4000 level. Of these five courses, at least three of the five must be 4000 level finance courses, and at least one of the 4000 level finance courses must be FIN 4610 or FIN 4710. Students may use one or two courses from the following list as major electives:
Financial Accounting I | 3 credits | |
Financial Accounting II | 3 credits | |
Property Investment and Financing | 3 credits | |
Real Estate Capital Markets | 3 credits | |
Investment Strategies in Property Markets | 3 credits | |
Valuations and Underwriting of Securitized Real Estate | 3 credits |
Note: Internship course credits cannot be counted toward credits required for the major.
The BBA Major in Economics
A BBA degree with a major in economics prepares students for entry-level positions in business, nonprofit organizations, governmental agencies, and private consulting. This work includes economic analysis, research, and empirical analysis.
Students choosing an economics major are advised that a position as a professional economist usually requires a graduate degree in economics. Students planning to enter a graduate program in economics are strongly recommended to include advanced courses in mathematics, statistics, and econometrics in their undergraduate programs.
Program Learning Goals
Consumer and Firm behavior | Students will develop understanding of models of consumer and firm choices and evaluate their role in real-life decisions |
Markets and Competition | Students will be able to differentiate market structures and compare their implications for the determination of market prices |
Growth | Students will be able to discuss and analyze the driving factors behind the long-run growth performance of nations |
Business Cycle and Economic Policy | Students will be able to identify the causes of the short-run fluctuations of the economy and formulate and assess fiscal and monetary policies to mitigate the economic and social cost |
Data and Economic Decisions | Students will be able to analyze data and estimate models to explain economic relationship and to support business decisions |
Required courses for the BBA degree include
and , courses that form the foundation of knowledge in micro- and macro-economics, respectively. These courses are prerequisites for all other economics courses.
The economics major includes three required courses (9 credits) and five electives (15 credits). Liberal arts courses applied in this major will count towards the 54 business credit minimum instead of the 62 liberal arts credit minimum.
Required Courses 9 credits
The three required courses build on the foundations of the introductory micro- and macro-economics courses. Economics majors should plan on taking all three, especially ECO 4000, as early in their major program as possible.
Intermediate Micro-Economics | 3 credits | |
Intermediate Macro-Economics | 3 credits | |
Statistical Analysis for Economics and Finance | 3 credits |
Elective Courses 15 credits
In addition to the three required courses, an economics major must take a meaningful combination of five economics, finance, or insurance courses at the 3000 level or higher. Of these five courses, at least two must be economics courses at the 4000 level or higher. FIN 3000 may not be included in the economics major. When appropriate, a student may include up to two advanced courses from other disciplines in the five electives.
Note: Internship course credits cannot be counted toward credits required for the major.
The BA Major in Economics
A BA degree with a major in economics deals with concepts, techniques, and cases in economics that acquaint the student with the general economic problems of modern society. This degree provides students with an excellent general background for a wide range of challenging business careers.
There are several prerequisites for the major. The major itself includes three required courses (9 credits) and 15 credits of electives.
Program Learning Goals
Upon completion of a major in Economics (BA), students will be able:
- To apply economic analysis to evaluate problems they encounter in their daily lives
- To apply economic analysis to evaluate government policies
- To use empirical evidence to make an economic argument
- To collect, analyze, and interpret economic data
- To identify and solve problems
- To develop deeper understanding of economic problems and their potential solutions based on specialized knowledge in specific areas of economics
- To present economic arguments verbally or in written form
Major Course Requirements
Prerequisites to the Major (18-19 credits) (Not Credited to the Major) | ||
Course | Description | Crs |
Business Courses (15 credits) | ||
Introduction to Business | 3 credits | |
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Business Fundamentals: The Contemporary Business Landscape | 3 credits | |
Introduction to Information Systems and Technologies | 3 credits | |
Micro-Economics | 3 credits | |
Macro-Economics | 3 credits | |
Business Statistics I * | 3 credits | |
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Mathematics (3-4 credits) ** | ||
Precalculus and Elements of Calculus | 3 credits | |
or |
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Precalculus | 3 credits | |
or |
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A more advanced calculus course | 3-4 credits | |
NOTES: * (previously ) is not applicable to the major.** Students with credit for , , or must complete a calculus course, typically, . | ||
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Required Courses in the Major (9 credits) The three required courses build on the foundations of the introductory micro- and macro-economics courses, and . Economics majors should plan on taking all three of the required courses, especially , as early in their major program as possible. | ||
Intermediate Micro-Economics | 3 credits | |
Intermediate Macro-Economics | 3 credits | |
Statistical Analysis for Economics and Finance | 3 credits | |
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Elective Courses (15 credits)
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The elective courses for BA in Economics should be chosen from the list below: | ||
Any 3000 or 4000 level ECO course | 1-3 credits each | |
Black Economic Development: 1860 to the Present | 3 credits | |
Urban Economic Structure ( ) | 3 credits | |
History of American Business Enterprise | 3 credits | |
Economic Analysis of Public Policy | 3 credits | |
Economics of the Public Sector | 3 credits | |
Ethics, Economics, and the Business System | 3 credits | |
Political Economy | 3 credits | |
Government and the American Economy | 3 credits |
As with all BA majors, the liberal arts minor must be completed outside the department of the students major. A student majoring in economics cannot minor in finance.
The Minors
Liberal Arts Minor in Economics
The Bert W. Wasserman Department of Economics and Finance offers a liberal arts minor in economics. The liberal arts minor consists of 9 credits and requires that students take
- Intermediate Micro-Economics or Intermediate Macro-Economics
- 3 additional credits in 3000-level or 4000-level courses in economics
- A 3 credit communication-intensive 4000-level capstone course in economics.
It is the responsibility of the student to ensure that all prerequisites are met. If in doubt, students should check with an economics advisor to ensure their choices conform to the requirements of this concentration.
With the exception of ECO 4000, ECO 4091, ECO 4092, ECO 4093, and ECO 4094, all other 4000-level courses are communication-intensive courses. Sometimes ECO 4093 (a 3-credit special topics course) may be communication-intensive, depending on the course material. Students are required to check the course description in CUNYfirst. Courses used for the liberal arts minor in Economics cannot be counted towards the 24 credits for the BBA in Finance.
Below is a list of capstone courses that have been regularly offered in recent years, along with the matching lower-level courses that could constitute an Economics minor.
Capstone | Prerequisite | Third course |
(Advanced Microeconomics) | (Intermediate Micro-Economic Theory) | any 3000- or 4000-level economics course |
(Advanced Macroeconomics) | (Intermediate Macro-Economic Theory) | any 3000- or 4000-level economics course |
(Monetary Economics) | (Intermediate Macro-Economic Theory) | any 3000- or 4000-level economics course |
(Financial Econometrics, offered infrequently) | (Statistical Analysis for Economics and Finance) | or |
Note: Students should also be aware that not every course will be offered every semester, therefore, they should ensure that the program they select is flexible and are advised to check with the Department of Economics and Finance (VC 10-225, (646) 312-3450) prior to the beginning of each term regarding course availability.
The Business Minor for Business Students - Economics and Finance
A minor in economics and finance requires 9 credits using any combination of the courses listed below:
Any 3000- or 4000-level ECO courses. | ||
Corporate Finance | 3 credits | |
Investment Analysis | 3 credits |
Courses
Courses in Economics (ECO)
Micro-Economics | 3 credits | |
Macro-Economics | 3 credits | |
Current Economic Problems | 3 credits | |
Special Topics in Economics | 3 credits | |
Special Topics in Economics | 1.5 credits | |
Intermediate Micro-Economics | 3 credits | |
Industrial Organization and Public Policy | 3 credits | |
Game Theory | 3 credits | |
Intermediate Macro-Economics | 3 credits | |
Money, Banking, and Monetary Policy | 3 credits | |
International Economics and Finance | 3 credits | |
Principles of Public Finance | 3 credits | |
Economics of Labor | 3 credits | |
Statistical Analysis for Economics and Finance | 3 credits | |
Applied Micro-Econometrics | 3 credits | |
Economic and Business Forecasting | 3 credits | |
Financial Econometrics | 3 credits | |
Special Topics in Economics | 3 credits | |
Special Topics in Economics | 1.5 credits | |
Advanced Micro-Economics | 3 credits | |
Behavioral Economics | 3 credits | |
Advanced Macro-Economics | 3 credits | |
Monetary Economics | 3 credits | |
Independent Research in Economics | 3 credits | |
Internship in Economics I | 3 credits | |
Internship in Economics II | 3 credits | |
Honors Economics I | 3 credits | |
Honors Economics II | 3 credits |
Courses in Finance (FIN)
Personal Finance | 3 credits | |
Principles of Finance | 3 credits | |
Special Topics in Finance | 3 credits | |
Special Topics in Finance | 1.5 credits | |
Corporate Finance | 3 credits | |
Investment Analysis | 3 credits | |
Special Topics in Finance | 3 credits | |
Special Topics in Finance | 1.5 credits | |
Advanced Corporate Finance | 3 credits | |
Advanced Investment Analysis | 3 credits | |
Futures Markets | 3 credits | |
Equity Markets: Trading and Structure | 3 credits | |
Options | 3 credits | |
Technical Analysis | 3 credits | |
Introduction to Microfinance | 3 credits | |
Risk Management in Financial Institutions I | 3 credits | |
Risk Management in Financial Institutions II | 3 credits | |
International Financial Markets | 3 credits | |
International Corporate Finance | 3 credits | |
Mergers and Acquisitions | 3 credits | |
Independent Research in Finance | 3 credits | |
Internship in Finance I | 3 credits | |
Internship in Finance II | 3 credits | |
Honors Finance I | 2 terms; 6 credits | |
Honors Finance II | 2 terms; 6 credits |
Courses in Insurance (INS)
Risk and Risk Management | 3 hours; 3 credits | |
Life and Health Insurance | 3 hours; 3 credits | |
Property and Liability Insurance | 3 hours; 3 credits |