Apr 16, 2024

2021-2022 UMaine Undergraduate Catalog

2021-2022 UMaine Undergraduate Catalog [ARCHIVED CATALOG]

Financial Economics

OVERVIEW OF DEGREE REQUIREMENTS - B.A.

Minimum number of credits required to graduate: 120

Minimum Cumulative GPA required to graduate: 2.0

Minimum Grade requirements for courses to count toward major: A “C-” or better is required in all Economic Core Courses. A “C” or better is required in the capstone (ECO 475, ECO 489, HON 498/499 or equivalent)

Other GPA requirements to graduate: Economics (ECO) coursework must be completed with a 2.0 or better cumulative average.

Required Course(s) for fulfilling Capstone Experience: ECO 475, ECO 489, HON 498/499 or equivalent

Contact Information: School of Economics, 200 Winslow Hall, (207) 581-3154.

Programs in the School of Economics provide students with knowledge of economic principles and theory, skills to apply and share this knowledge, and tools to solve real-world problems. The faculty of the School of Economics taps a broad set of experiences, perspectives, and specializations that provide students with diverse learning opportunities. Economics courses emphasize the application of economic reasoning to public and private decision-making, focus on US and international economic institutions, and address contemporary policy issues. This is coupled with accounting and business finance courses within the Maine Business School giving students well-rounded skill set in terms of both economic theory and applied business practice. Students in the program develop strong analytical, communication, and critical-thinking skills–skills that are essential to successful career pathways and graduate study in diverse fields, including economics, business, finance, government, law, public policy, international affairs, data science, journalism, and beyond.

The Bachelor of Arts in Financial Economics trains students in economic analysis, the functioning of economic institutions, and applied business skills. The major offers students with valuable preparation for a variety of career paths. Students may design their programs of study for: (1) immediate entry upon graduation into business, government, or other employment or (2) graduate education leading to a business administration or law degree.

The Bachelor of Arts in Financial Economics emphasizes more breadth over depth relative to the Bachelor of Science. Students take slightly fewer economics courses but are REQUIRED to complete a minor and/or double major. This is because the School of Economics believes strongly in interdisciplinary work and that economics is well suited for applied work in other fields.

Students are required to work with their advisors on selecting appropriate economics electives in addition to the required economics and business core. Some outside courses with a partial focus on economics to business may be counted as electives with prior approval. Students are also encouraged to discuss career or graduate school preparation with their advisor.

B.A. Requirements

Students must complete a residency requirement of a minimum of 18 economics (i.e. ECO or Finance (FIN)) credits through the University of Maine at the 300 level or higher. Students must complete the following:

1. Economics Core Courses (16 credits):

ECO 117 - Issues and Opportunities in Economics Credits: 1
(not required for internal or external transfers)
ECO 120 - Principles of Microeconomics Credits: 3
ECO 121 - Principles of Macroeconomics Credits: 3
ECO 266 - Principles of Economic Data Analysis Credits: 3
ECO 321 - Intermediate Macroeconomics Credits: 3
ECO 350 - Intermediate Microeconomic Theory Credits: 3

2. Additional credit hours in ECO courses (12 credits):

A total of twelve (12) credit hours in ECO courses. A minimum of 6 credits must be at the 300 level or higher, 3 of which must be at the 400 level or higher (not counting the core above or capstone).

ECO 385 - Econometrics

and ECO 480 - Introduction to Mathematical Economics are strongly recommended for students considering graduate study in economics.

3. Maine Business School Courses (18 credits):

ACC 201 - Principles of Financial Accounting Credits: 3
ACC 202 - Principles of Managerial Accounting Credits: 3
FIN 350 - Business Finance Credits: 3
FIN 352 - Financial Institutions Credits: 3

Two additional courses from among the following:

FIN 351 - Valuation and Corporate Investment Decisions Credits: 3
FIN 353 - Investment Strategy Credits: 3
FIN 454 - Financial Derivatives and Fixed Income Credits: 3

4. Mathematics Requirement (3-4 credits):

One of the following mathemaatics courses (or equivalent):

MAT 115 - Applied Mathematics for Business and Economics Credits: 3
MAT 116 - Introduction to Calculus Credits: 3
MAT 122 - Pre-Calculus Credits: 4
MAT 126 - Calculus I Credits: 4 (students planning to attend Graduate School should take MAT 126)
MAT 127 - Calculus II Credits: 4

5. Statistics requirement (3-4 credits):

One of the following statistics courses (or equivalent):

STS 215 - Introduction to Statistics for Business and Economics Credits: 3
STS 232 - Principles of Statistical Inference Credits: 3
STS 332 - Statistics for Engineers Credits: 3
STS 434 - Introduction to Statistics Credits: 4

6. Minor or Double Major Requirement:

Students completing the B.A. in Financial Economics must have a minor or a double major.

7. Free Electives

Students will utilize free electives to fill to 120 credits.

A Typical Four-year Programs in Economics (B.A. FIE)

(Listed below is the sequence for economics courses. Students meet with their Faculty Advisor to fill in remaining schedule with General Education courses, business courses, free electives and other requirements.)

First Year

ECO 117 - Issues and Opportunities in Economics Credits: 1
ECO 120 - Principles of Microeconomics Credits: 3
ECO 121 - Principles of Macroeconomics Credits: 3
ENG 101 - College Composition Credits: 3
Applied or Lab Science
Math (MAT) or Statistics (STS) Course
Minor/Double Major Courses 3-12 Credits

Second Year

ACC 201 - Principles of Financial Accounting Credits: 3
ACC 202 - Principles of Managerial Accounting Credits: 3
ECO 266 - Principles of Economic Data Analysis Credits: 3
ECO 321 - Intermediate Macroeconomics Credits: 3
ECO 350 - Intermediate Microeconomic Theory Credits: 3
Applied or Lab Science
Economics Elective Credit: 3-6
Math (MAT) or Statistics (STS) Course
Minor/Double Major Courses: 3-12 Credits

Third Year

FIN 350 - Business Finance Credits: 3
Business Finance Electives Credits 3-6
Economics Elective Credits: 3-6
English (ENG) Technical Writing Course
Minor/Double Major Courses: 3-12 Credits

Fourth Year

FIN 352 - Financial Institutions Credits: 3
ECO 489 - Senior Capstone Credits: 3
Business Finance Electives Credits: 3-6
Economics Elective Credits above 400 level Credits: 3-6
Minor/Double Major Courses: 3-12 Credits

B.S. Requirements

OVERVIEW OF DEGREE REQUIREMENTS - B.S.

Minimum number of credits required to graduate: 120

Minimum Cumulative GPA required to graduate: 2.0

Minimum Grade requirements for courses to count toward major: A “C-” or better is required in all Economics Core courses. A “C” or better is required in the capstone (ECO 475, ECO 489, HON 498/499 or equivalent)

Other GPA requirements to graduate: Economics (ECO) coursework must be completed with a 2.0 or better cumulative average.

Required Course(s) for fulfilling Capstone Experience: ECO 489 or equivalent

Contact Information: School of Economics, 200 Winslow Hall, (207) 581-3154.

The Bachelor of Science in Financial Economics trains students in economic analysis, the functioning of economic institutions, and applied business skills. The major offers students with valuable preparation for a variety of career paths. Students may design their programs of study for: (1) immediate entry upon graduation into business, government, or other employment or (2) graduate education leading to a business administration or law degree, (3) graduate work in economics or related disciplines.

The Bachelor of Science in Financial Economics emphasizes more breadth over depth relative to the Bachelor of Arts. Students take slightly more economics courses and gain more analytical skills such as mathematical methods and data analysis. Students are required to have exposure to calculus and calculus-based economics courses. This is because the School of Economics believes strongly in interdisciplinary work and that economics is well suited for applied work in other fields. Thus, students are encouraged, although not required, to complete a minor and/or double-major.

BS Requirements:

Students must complete a residency requirement of a minimum of 18 economics (i.e. ECO) credits through the University of Maine at the 300 level or higher. Students must complete the following:

1. Economics Core Courses (25 credits):

ECO 117 - Issues and Opportunities in Economics Credits: 1 (not required for internal or external transfers)
ECO 120 - Principles of Microeconomics Credits: 3
ECO 121 - Principles of Macroeconomics Credits: 3
ECO 266 - Principles of Economic Data Analysis Credits: 3
ECO 321 - Intermediate Macroeconomics Credits: 3
ECO 350 - Intermediate Microeconomic Theory Credits: 3
ECO 385 - Econometrics Credits: 3
ECO 480 - Introduction to Mathematical Economics Credits: 3
Capstone Course Credits: 3

2. Additional credit hours in ECO courses (18 credits):

A total of eighteen (18) additional credit hours in ECO courses. A minimum of 12 credits must be at the 300 level or higher, 6 of which must be at the 400 level or higher (not counting the core above or capstone).