Sep 07, 2024

2022-2023 UMaine Undergraduate Catalog

2022-2023 UMaine Undergraduate Catalog [ARCHIVED CATALOG]

Financial Economics

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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.

Students who complete their Financial Economics degree have an understanding of how people and businesses behave with respect to economic activities, as well as an understanding of financial workings of businesses and financial institutions. Financial Economics students gain knowledge and skills that are immediately useful for businesses, agencies, or graduate school. Because of the broad knowledge and tools that financial economists possess, they are involved in many aspects of the business.

At the University of Maine there are many learning activities for economics majors outside of the classroom, including student clubs, internships, research with faculty, and study abroad. To broaden their learning and enhance future opportunities, Financial Economics Bachelor of Arts majors are required to have an academic minor or a double major. Financial Economics graduates traditionally earn attractive salaries and have strong job prospects.

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 221 - Intermediate Macroeconomics Credits: 3
ECO 220 - 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
MAT 127 - Calculus II Credits: 4
* students planning to attend Graduate School should take MAT 126

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 221 - Intermediate Macroeconomics Credits: 3
ECO 220 - 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 489 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.

Students who complete their Financial Economics degree have an understanding of how people and businesses behave with respect to economic activities, as well as an understanding of the financial workings of businesses and financial institutions. Financial Economics students gain knowledge and skills that are immediately useful for businesses, agencies, or graduate school. There are many learning activities for economics majors outside of the classroom, including student clubs, internships, research with faculty, and study abroad. Because of the broad knowledge and tools that financial economists possess, they are involved in many aspects of the business.

The Financial Economics Bachelor of Science students take more mathematics, statistics, and analysis courses than the Bachelor of Arts students. These analytical courses help prepare students job placement, or to continue their education in economic modeling, finance and banking, or other analytical fields. Financial Economics graduates traditionally earn attractive salaries and have strong job prospects.

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 221 - Intermediate Macroeconomics Credits: 3
ECO 220 - Intermediate Microeconomic Theory Credits: 3
ECO 480 - Introduction to Mathematical Economics Credits: 3
ECO 385 - Econometrics Credits: 3
Capstone Course Credits: 3

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

A total of eighteen (18) additional credits 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).