LEARNING OBJECTIVES--BUSINESS ACUMEN COURSES
The Department of Economics and Finance provides four courses that are an integral and important part of the Huntsman School’s business acumen set of courses and/or the university’s general education requirements: Economics 1500 (Introduction to Economic Principles, History, and Institutions), Economics 2010 (Introduction to Microeconomics), Economics 3400 (International Economics for Business), and Finance 3400 (Corporate Finance).
For these four courses, specific learning objectives are as follows:
Econ 1500 Objectives. Students will demonstrate a knowledge of the following:
- Nature of market economy
- Concept of economic efficiency
- Measurement/meaning of GDP
- Measurement/meaning of unemployment
- Measurement/meaning of inflation
- Basic familiarity with AS/AD model
- Essential concepts of monetary policy
- Essential concepts of fiscal policy
Econ 2010 Objectives. Students will demonstrate a knowledge of the following:
- Consumer demand and elasticity concepts
- Economic costs and normal profit
- Short-run and long-run cost behavior
- Nature and consequences of competitive markets
- Profit maximization principles
- Nature and consequences of monopolistic competitive markets
- Nature and consequences of monopolies/oligopolies
- Government response to market power
- Determinants of demand for resources
Econ 3400 Objectives. Students will demonstrate a knowledge of the following:
- Concept of comparative advantage
- Sources of comparative advantage
- Effects of tariffs
- Analysis of non-tariff trade barriers
- World Trade Organization (WTO)
- Motivations and consequences of regional trade agreements
- Multinational firms and direct foreign investment
- Balance of payments accounting
- Foreign exchange market
- Exchange rate determination
FIN 3400 Objectives.
Students will demonstrate an understand the following:
- Financial decision making (e.g. Net Present Value)
- Working capital management
- Fixed asset management
- Risk return trade off
- Sources of financing
- Capital structure decisions
- Cost of capital
- Dividend policy
- Time Value of Money
- Basic Portfolio Management Concepts
- Valuation of Cash Flows
- Basic Financial Statement Analysis
LEARNING OBJECTIVES--UNDERGRADUATE ECONOMICS PROGRAM
The learning goal of the undergraduate economics program is to ensure that students receive the skills necessary for the analysis of economic problems on the basis of economic theory. Students receive training in economic theory, quantitative analysis, and different economic fields. This training prepares students for a wide range of entry level jobs in business and government, pursuit of graduate training, or individual entrepreneurial activities. The following learning objectives are designed to capture the broad training students receive in economics.
- Demonstrate intermediate knowledge of microeconomics/managerial economics. Intermediate microeconomics and managerial economics require students to analyze microeconomic problems and issues through an analytical and quantitative approach. Students will understand the theory of choice, cost analysis, resource allocation, and market structure.
- Demonstrate intermediate knowledge of macroeconomic theory. Intermediate macroeconomics requires students to analyze macroeconomic problems and issues through an analytical and quantitative approach. Students will understand the nature of business cycles, macroeconomic policy, economic growth, and the Federal Reserve System.
- Demonstrate basic analytical and quantitative skills required to address economic questions. Students need to be at least at a beginning level in calculus to understand basic and applied economic theory. They also need an understanding of statistics that prepares them to use multivariable single regression models. Students should know how to apply these techniques to address basic economic questions. Other analytical skills also enhance the student’s economic skill set and are taught in the appropriate field course.
- Demonstrate an ability to effectively communicate the use of economic concepts and principles to address economic problems (especially current economic issues). Students will be expected to effectively communicate through written and oral communication that they are able to apply the skills they have acquired in learning objectives 1-3.
- Student will have the opportunity to participate in a variety of professional development activities.
LEARNING OBJECTIVES--UNDERGRADUATE FINANCE PROGRAM
The goal of the undergraduate finance program is to provide students with the tools necessary to understand modern finance and financial decision making.
Specific learning objectives are as follows:
- Student will analyze financial decisions based on the tools of finance (e.g. Net Present Value).
- Students will recognize decision that increase firm value (e.g., capital budgeting).
- Students will apply the basic models of asset valuation.
- Students will articulate the nature of the relationship between risk and return.
- Students will have the opportunity to participate in a variety of professional development activities.
LEARNING OBJECTIVES--MASTER OF SCIENCE IN ECONOMICS
This program is designed to prepare students for doctoral studies at the top economics and finance programs in the United States.
Learning objectives are as follows:
- Students will demonstrate a knowledge of graduate-level microeconomic theory.
- Students will demonstrate a knowledge of graduate-level macroeconomic theory
- Students will demonstrate knowledge of graduate-level econometrics
- Students will demonstrate knowledge of the mathematical techniques common to graduate-level micro and macroeconomic analysis.
LEARNING OBJECTIVES--MASTER OF SCIENCE IN FINANCIAL ECONOMICS
The Master of Science in Financial Economics (MSFE) is designed as a terminal, professional degree in financial economics.
The curriculum includes courses in the key areas of finance and the supporting areas of economics and quantitative methods.
It’s goal is to prepare students for a wide range of careers both within and outside the financial industry, including risk management, asset management, macroeconomic and financial forecasting, trading, and financial and economics research.
Specific learning objectives are as follows:
- Students will demonstrate a mastery of the core topics of financial economics, including asset pricing, derivatives, fixed income, and corporate finance.
- Students will demonstrate analytical skills by applying empirical methods to real-world problems both in course work and in an independent research paper.
- Students will acquire the technical skills necessary to analyze large datasets using software such as SAS, R, and C++.
- Students will obtain a breadth of knowledge that provides the foundations for passing the Chartered Financial Analyst Level 1 Exam.
- Students will be involved in professional development activities.