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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.

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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 FinanceStudents 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.
InvestmentsStudents 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.
DerivativesStudents will understand the basic applications of derivatives in investments and corporate finance and will be able to discuss the characteristics of derivative products.
Data AnalysisStudents will be able to analyze data and estimate models for project valuation to support business decisions

 

Required courses for the BBA degree include ECO 1001, ECO 1002, and FIN 3000.  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.

 

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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 behaviorStudents will develop understanding of models of consumer and firm choices and evaluate their role in real-life decisions
Markets and CompetitionStudents will be able to differentiate market structures and compare their implications for the determination of market prices
GrowthStudents will be able to discuss and analyze the driving factors behind the long-run growth performance of nations
Business Cycle and Economic PolicyStudents 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 DecisionsStudents 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  ECO 1001 and ECO 1002, 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.

ECO 3100

Intermediate Micro-Economics

3 credits

ECO 3200

Intermediate Macro-Economics

3 credits

ECO 4000

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.

 

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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:

  1. To apply economic analysis to evaluate problems they encounter in their daily lives
  2. To apply economic analysis to evaluate government policies
  3. To use empirical evidence to make an economic argument
  4. To collect, analyze, and interpret economic data
  5. To identify and solve problems
  6. To develop deeper understanding of economic problems and their potential solutions based on specialized knowledge in specific areas of economics
  7. 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)

BUS 1000

Introduction to Business

3 credits

or

 

 

BUS 1011

Business Fundamentals: The Contemporary Business Landscape

3 credits

CIS 2200

Introduction to Information Systems and Technologies

3 credits

ECO 1001

Micro-Economics

3 credits

ECO 1002

Macro-Economics

3 credits

STA 2000

Business Statistics I *

3 credits

 

 

 

Mathematics      (3-4 credits) **

MTH 2003

Precalculus and Elements of Calculus 1A

3 credits

or

 

 

MTH 2009

Precalculus

3 credits

or

 

 

A more advanced calculus course

3-4  credits

NOTES:

PSY 2100 (previously  STA 2100) is not applicable to the major.

** Students with credit for  MTH 2000MTH 2001, or  MTH 2100 must complete a calculus course, typically, MTH 2207

 

 

 

Required Courses in the Major      (9 credits)

The three required courses build on the foundations of the introductory micro- and macro-economics courses,  ECO 1001 and ECO 1002. Economics majors should plan on taking all three of the required courses, especially ECO 4000, as early in their major program as possible.

ECO 3100

Intermediate Micro-Economics

3 credits

ECO 3200

Intermediate Macro-Economics

3 credits

ECO 4000

Statistical Analysis for Economics and Finance

3 credits

 

Elective Courses      (15 credits)
PLEASE NOTE:

  • Six (6) of the major’s elective credits must be 4000-level ECO courses
  • At least one of the 4000-level ECO courses must be a 3-credit communication-intensive (CIC) capstone course.
  • With the exception of ECO 4000ECO 4091 (1 credit),  ECO 4092 (2 credits),  ECO 4093 (3 credits), and  ECO 4094 (1.5 credits), all 4000-economics level courses are CIC.  ECO 4093 (the 3-credit special topics course) may be communication-intensive, depending on the course material. Students are required to check CUNYfirst section descriptions to determine any given topic’s CIC status.
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

BLS 3015

Black Economic Development: 1860 to the Present

3 credits

BLS 3016

Urban Economic Structure ( LTS 3016)

3 credits

HIS 3410

History of American Business Enterprise

3 credits

PAF 3102

Economic Analysis of Public Policy 

3 credits

PAF 3103

Economics of the Public Sector

3 credits

PHI 3050

Ethics, Economics, and the Business System

3 credits

POL 3103

Political Economy

3 credits

POL 3315

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.

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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

  • ECO 3100 Intermediate Micro-Economics or  ECO 3200 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,ECO 4094, and ECO 4150, 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.

CapstonePrerequisiteThird course

ECO 4100 (Advanced Microeconomics)

ECO 3100 (Intermediate Micro-Economic Theory)

any 3000- or 4000-level economics course

ECO 4200 (Advanced Macroeconomics)

ECO 3200 (Intermediate Macro-Economic Theory)

any 3000- or 4000-level economics course

ECO 4201 (Monetary Economics)

ECO 3200 (Intermediate Macro-Economic Theory)

any 3000- or 4000-level economics course

ECO 4051 (Financial Econometrics, offered infrequently)

ECO 4000 (Statistical Analysis for Economics and Finance) ECO 3100 or ECO 3200

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.


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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

Real Estate Valuation and Feasibility Study3 credits

Real Estate Capital Markets3 credits

Real Estate Construction Process: Building, Cost, and Management Issues

3 credits

Real Estate Development3 credits

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Courses

Courses in Economics (ECO)

Micro-Economics

3 credits

Macro-Economics

3 credits

Current Economic Problems

3 credits

Special Topics in Economics3 credits

Special Topics in Economics1.5 credits

Intermediate Micro-Economics

3 credits

Industrial Organization and Public Policy

3 credits

Game Theory3 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-Econometrics3 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 Economics3 credits

ECO 4150

 

International Trade

Course Title Change to: The Economics of International
Trade (effective Spring 2021)

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

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Courses in Finance (FIN)

Personal Finance

3 credits

FIN 2000

Principles of Financial Planning and Individual Investing1.5 credits

Principles of Finance

3 credits

Special Topics in Finance3 credits

Special Topics in Finance1.5 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 II3 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

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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

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