General Education

Interdisciplinary Programs

Academic Units

Academic Programs

Department of Finance and Business Law

Dr. Pamela Peterson Drake, Head

Location: Zane Showker Hall, Room 335
Phone: (540) 568-6530
E-mail: drakepp@jmu.edu
Web: http://cob.jmu.edu/finance/

[Printable Version]

Professors
J. Albert, F. Damanpour, P. Drake, A. Francfort, A. Hamilton, H. Hobson, B. Marshall, D. Thomas

Associate Professor
K. Fink

Assistant Professors
J. Fink, Q. Liu, E. Semaan

Instructor
S. Lowe

Mission Statement
Career Opportunities
Co-curricular Activities and Organizations
Degree and Major Requirements
Transfer Credit

Mission Statement
The Program of Finance and Business Law strives to prepare students for decision-making roles in an increasingly technological and global environment.

Goals
To support its mission, the Program of Finance and Business Law is committed to the following:

Career Opportunities
The finance major is designed to prepare students for careers in the financial management of industrial and commercial enterprises; commercial, retail and mortgage banking; investment analysis and portfolio management; real estate; insurance; finance positions in federal, state and local governments and graduate study.

Corporate Finance

Portfolio Management

Working Capital Management

Corporate Real Estate, Insurance and Miscellaneous

Banking and Financial Institutions

Co-curricular Activities and Organizations

Degree and Major Requirements
The Program of Finance and Business Law offers programs leading to the Bachelor of Business Administration degree in finance and the B.S. degree in quantitative finance. As part of the JMU assessment program, graduating seniors are required to participate in assessment activities. Assessment information is used to assist the College of Business faculty in modifying curricula.

Bachelor of Business Administration in Finance
The B.B.A. degree in finance requires a minimum of 120 credit hours of undergraduate course work. Fifty percent of this work, or 60 credit hours, must be taken outside of the College of Business. In counting the 60 credit hours of non-business courses, students may include all hours taken in General Education, up to a total of nine hours in economics (GECON courses must be counted as economics) and three hours of COB 191, Business and Economic Statistics. The remaining hours, to bring the total to 60, must be taken from any department outside the College of Business. Students should carefully select these non-business electives to help them gain additional knowledge and expertise for their careers and personal lives.

Required major courses provide finance majors with a foundation in financial management, investments and institutions. Electives within the major permit students to obtain an additional emphasis and explore other areas within the field of finance.

Degree Requirements

 
Credit Hours
B.B.A. core courses1
44-45
Finance major requirements
24
Free elective2
3
General Education courses3
41
Non-business electives
7-11

 
120

1 Up to seven hours of core requirements in economics and calculus may also be taken for General Education credit. Students who take the General Education packages and courses recommended by the College of Business will have only 38 credit hours of additional B.B.A. core requirements.
2 Any course offered by the university.
3 The General Education program contains a set of requirements each student must fulfill. The number of credit hours necessary to fulfill these requirements may vary.

Major Requirements

FIN 360. Money and Capital Markets
FIN 365. Intermediate Financial Management
FIN 371. Principles of Investments
FIN 488. Advanced Financial Policy
Finance electives (12 hours)

A student majoring in finance must successfully complete the following finance major core courses: FIN 360, FIN 365, FIN 371 and FIN 488. In addition to these core courses, the student majoring in finance must successfully complete 12 credit hours of financed elective courses. Finance electives include any 300-level or 400-level finance course other than FIN 345 or the finance major core courses. A student may choose up to one of the following courses to satisfy the finance elective credit hours: ACTG 313, ACTG 343, ACTG 344, ACTG 377, BLAW 470, BLAW 496, ECON 331 and ECON 385.

Recommended Schedule for Majors

First Two Years
Students planning to major in finance must complete the 29 to 30 hour, lower-division B.B.A. core curriculum prior to enrolling in upper-division core courses, normally taken in the first semester of the junior year. It is expected that the lower-division core curriculum will be completed during the first two years of study along with all, or most, of the university General Education curriculum. Failing to complete all lower-division core requirements on time will delay enrollment in upper-division core and major courses until at least the second semester of the junior year.

Third and Fourth Years
Finance majors will follow the course schedule below to complete the final two years of their program. It is possible to deviate from this program, but care must be taken to ensure that all course prerequisites are met. Finance majors may choose to enroll in FIN 360 during the same semester as COB 300 or during the semester following completion of COB 300. Note that students taking FIN 360 during the same semester as COB 300 will have more choices in finance electives in subsequent semesters because FIN 360 is a prerequisite for most finance courses.

Junior Year

First Semester
Credit Hours
COB 300A. Integrated Functional Systems: Management
3
COB 300B. Integrated Functional Systems: Finance
3
COB 300C. Integrated Functional Systems: Operations
3
COB 300D. Integrated Functional Systems: Marketing
3
FIN 360. Money and Capital Markets
3

 
15
   
Second Semester
Credit Hours
FIN 365. Intermediate Financial Management
3
FIN 371. Principles of Investment
3
Finance elective
3
General Education or non-business electives
6

 
15

Senior Year

First Semester
Credit Hours
Finance electives
6
General Education or non-business electives
6
Free elective
3

 
15
   
Second Semester
Credit Hours
COB 487. Strategic Management
3
FIN 488. Advanced Financial Policy
3
Finance elective
3
General Education or non-business electives
6

 
15

In general, all finance course work must be completed at JMU. Transfer credit for finance courses is awarded only in certain circumstances. In no case will transfer credit be awarded for more than two finance courses, and in no case will transfer credit be awarded for FIN 488, Advanced Financial Policy. Contact the program director for more information on transfer credit.

Bachelor of Science in Quantitative Finance
The B.S. degree in quantitative finance is designed to prepare students for careers in financial engineering, structured finance, financial modeling, securitization, actuarial science, financial analysis and portfolio management. The focus of this program is on problem solving in the quantitative areas of finance with an added emphasis on the application of complex securities to a variety of financial situations.

The quantitative finance program, which is an interdisciplinary major with many courses co-listed with the math department, is a highly structured program requiring minor fields in both mathematics and economics or a double major in mathematics and quantitative finance. If the double major is selected students are required to take GECON 200, ECON 201 and ECON 331 but are not required to complete the economics minor. Students electing this program should consult with their major adviser as early as possible to identify the appropriate course sequencing. Students electing to double major in mathematics and quantitative finance should also consult with a mathematics advisor as soon as possible. The required courses for the B.S. in quantitative finance are listed.

Degree Requirements
Quantitative Finance Major with a minor in Economics

 
Credit Hours
General Education1
41
Scientific Literacy requirement2
3
Free electives
11
Major requirements (listed below) and electives
65

 
120

1 The General Education program contains a set of requirements each student must fulfill. The number of credit hours necessary to fulfill these requirements may vary.
2 In addition to course work taken to fulfill General Education requirement.

Quantitative Finance/Mathematics Double Major

 
Credit Hours
General Education1
41
Scientific Literacy requirement2
3
Free electives
0-1
Major requirements (listed below) and electives
75-76

 
120

1 The General Education program contains a set of requirements each student must fulfill. The number of credit hours necessary to fulfill these requirements may vary.
2 In addition to course work taken to fulfill General Education requirement.

Major Requirements

Quantitative Finance Major with a Minor in Economics

General Required Course (3 credit hours)
     COB 241. Financial Accounting
Finance Courses (27 credit hours)
     FIN 250. Principles of Quantitative Finance
     FIN 365. Intermediate Financial Management
     FIN 371. Principles of Investments
     FIN 380. Elemental and Derivative Securities
     FIN/MATH 395. Mathematical Finance
     FIN/MATH 405. Securities Pricing
     FIN 450. Financial Risk Management
     FIN 480. Seminar in Financial Engineering
Plus one of the following:
          FIN/MATH 328. Time Series Analysis
          FIN/MATH 465. Seminar in Actuarial Science I
          FIN/MATH 466. Seminar in Actuarial Science II
          FIN/ECON 372. International Finance and Payments
          FIN 455. International Financial Management
          FIN 471. Advanced Topics in Investments
          FIN 475. Financial Modeling and Risk Analysis
          FIN 488. Advanced Financial Policy
          BLAW 470. Financial Products: Regulation and Protection
Mathematics Courses (27 credit hours, 4 of which count for General Education)
     MATH 235. Calculus I3
     MATH 236. Calculus II
     MATH 237. Calculus III
     MATH 238. Linear Algebra and Differential Equations
     MATH 248. Computer and Numerical Algorithms
     MATH 318. Introduction to Probability and Statistics
     MATH 440. Fourier Analysis and Partial Differential Equations
Economics Courses (18 hours, 6 of which count for General Education)
     GECON 200. Introduction to Macroeconomics4
     ECON 201. Principles of Economics (Micro)5
     ECON 331. Intermediate Microeconomic Theory
     ECON 332. Intermediate Macroeconomic Theory
     ECON 385. Econometrics or
          MATH 322. Applied Linear Regression
     Plus one upper-level economics elective
Quantitative Finance/Mathematics Double Major
General Required Course (3 credit hours)
     COB 241. Financial Accounting
Finance Courses (27 credit hours)
     FIN 250. Principles of Quantitative Finance
     FIN 365. Intermediate Financial Management
     FIN 371. Principles of Investments
     FIN 380. Elemental and Derivative Securities
     FIN/MATH 395. Mathematical Finance
     FIN/MATH 405. Securities Pricing
     FIN 450. Financial Risk Management
     FIN 480. Seminar in Financial Engineering
     Plus one of the following:
          FIN/MATH 328. Time Series Analysis
          FIN/MATH 465. Seminar in Actuarial Science I
          FIN/MATH 466. Seminar in Actuarial Science II
          FIN/ECON 372. International Finance and Payments
          FIN 455. International Financial Management
          FIN 471. Advanced Topics in Investments
          FIN 475. Financial Modeling and Risk Analysis
          FIN 488. Advanced Financial Policy
          BLAW 470. Financial Products: Regulation and Protection
Economics Courses (9 hours, 3 of which count for General Education and 3 of which count for the B.S. scientific literacy requirement)
     GECON 200. Introduction to Macroeconomics4
     ECON 201. Principles of Economics (Micro)5
     ECON 331. Intermediate Microeconomic Theory
Mathematics Courses (42-43 credit hours, 4 of which count for General Education)
     MATH 235. Calculus I3
     MATH 236. Calculus II
     MATH 237. Calculus III
     MATH 238. Linear Algebra and Differential Equations
     MATH 245. Discrete Mathematics
     MATH 248. Computer and Numerical Algorithms
     MATH 318. Introduction to Probability and Statistics
     MATH 410. Advanced Calculus
     MATH 430. Abstract Algebra I
     MATH 440. Fourier Analysis and Partial Differential Equations
     Mathematics elective (MATH 238 recommended)
     Plus one of the following:
          MATH 411. Advanced Calculus II
          MATH 431. Abstract Algebra II
          MATH 435. Introduction to Topology
          MATH 441. Analysis and Dynamics of Differential Equations

3 General Education requirement Cluster Three.
4 General Education requirement Cluster Four.
5 Satisfies the scientific literacy requirement.

Transfer Credit
In general, all finance course work must be completed at JMU. Transfer credit for finance courses is awarded only in certain circumstances. In no case will transfer credit be awarded for more than two finance courses, and in no case will transfer credit be awarded for FIN 488, Advanced Financial Policy. Contact the program director for more information on transfer credit.

 

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