Bachelor of Science in Finance

Program Overview

The Bachelor of Science program in Finance requires that a student complete 123 credits of courses and attain a mini- mum cumulative GPA of 2.00. The program consists of the categories summarized below.


BS in Finance - Business Finance Track (123 Credits)
 URCRPRTotal
Mandatory Courses12482484
Electives Courses126624
Minor Courses--1515
Total245445123

 

BS in Finance – Islamic Banking Track (123 Credits)
 URCRPRTotal
Mandatory Courses12482484
Electives Courses126-18
Minor Courses----
Islamic Banking Track--21*21
Total245445123
*15 credits mandatory and 6 credits electives

 

I. University Requirements

These are the courses that must be taken by all students at the University, regardless of their major. Descriptions are presented in the introductory pages of the College of Business Administration section in this Bulletin.

 

II. College Requirements

Every student in the College of Business Administration – irrespective of specialization – is required to complete 54 credit of General Business courses 48 credit hours are mandatory core courses and 6 credits core elective courses. These courses consist of foundation and skill courses required of all business students. Descriptions are presented in the introductory pages of the College of Business Administration section in this bulletin.

 

III. Program Requirements

The Department of Finance and Economics requires students to take 30 credit hours in the specialization and 15 credit hours from an approved minor. The major core courses are divided into two categories: Mandatory core and elective core courses. These courses are described for each track and program below.

 

Business Finance Track

 

A. Mandatory  Core Courses

The Business Finance Track requires 24 credit hours of Mandatory courses listed below.

Course #Course TitleCrHrsPrerequisites
0308331Corporate Finance30308230
0308332Investment Analysis30308230
0308361Banking Operations Management30308230
0308362Introduction to Islamic Banking and Finance 30308230
0308365Risk Management30308230
0308430International Financial Management30308230
0308431Financial Markets and Institutions30308230
0308438Seminar in Finance and Banking3Note 1
Note 1: Senior Standing/ Department Approval

 

B. Electives Core Courses

Business Finance Track students may choose 6 credit hours of elective courses from the following list.

Course #Course TitleCrHrsPrerequisites
0308333Quantitative Methods for Finance31440264
0308334Real Estate Finance30308230
0308366Internship in Finance3Note 1
0308466Special Topics in Finance and Banking30308361
0308433Portfolio Management30308332
0308434Derivatives30308332
0308461Credit Analysis and Lending Management30308230
0308463Islamic Financial Instruments30308362
Note 1: Minimum 75 Credit Hours/ Department Approval

 

Islamic Banking Track – Business Majors (English) A. Mandatory Core Courses

The Islamic Banking Track requires the 15 credit hours of mandatory core courses listed below.


Course #                                            Course Title                                             CrHrs             Prerequisites

0308255     Principles of Islamic Economics                                                        3                        None

0308256     Islamic Financial Contract 1                                                               3                      0308255

0308364     Islamic Banking and Finance in Practice                                          3                      0308362

0308463     Islamic Financial Instruments                                                             3                      0308362

0308469     Accounting for Islamic Banks                                                             3                      0308362


 

B. Electives Core Courses

Islamic Banking Track students may choose 6 credit hours of elective courses from the following list.

Course #Course TitleCrHrsPrerequisites
0308341Islamic Insurance (Takaful)30308255
0308333Quantitative Methods for Finance31440264
0308334Real Estate Finance30308230
0308357Islamic Financial Contract II30308255
0308365Risk Management30308230
0308366Internship in Finance3Note 1
0308467Special Topics in Islamic Finance30308120
0308468Islamic Portfolio Management30308332
Note 1: Minimum 75 Credit Hours/ Department Approval

 

 

Study Plan – Business Finance Track

The Business Finance program encompasses 123 credits hours that are spread over eight semesters and could be completed in four years. The following study plan serves as a roadmap for a smooth progression toward graduation.

 

Year 1, Level I (Freshman), Semester 1 (15 Credits)
Course #TitleCrHrsPrerequisites
 University Requirements 13 
 University Requirements 23 
0302160Principles of Management3 
0301120Financial Accounting 13 
 University Requirements 33 

 

Year 1, Level I (Freshman),Semester 2 (15 Credits)
Course #TitleCrHrsPrerequisites
 University Requirements 43 
 University Requirements 53 
0302170Principles of Marketing3 
1440162Business Mathematics31440100
0303130Introduction to MIS3 

 

Year 2, Level II (Sophomore), Semester 3 (15 Credits)
Course #TitleCrHrsPrerequisites
0301211Managerial Accounting 230301120
0308230Financial Management3 
1440264Business Statistics31440162
0308151Principles of Microeconomics3 
 University Requirement  63 

 

Year 2, Level II (Sophomore), Semester 4 (15 Credits)

Course #    Title                                                                 CrHrs             Prerequisites

0302254     Business Communication                                   3                      0202112

0308252     Principles of Macroeconomics                            3                      0308151

0302250     Legal Environment of Business                           3                      0302160

0308331     Corporate Finance                                             3                      0308230

University Requirement 7                                                     3


Year 3, Level III (Junior), Semester 5 (18 Credits)
Course #TitleCrHrsPrerequisites
0308365Risk Management30308230
0308361Banking Operations  Management30308230
0302361Operation and Supply Chain Management31440264
0302350Ethics and Islamic Values in Business30302250
 Program Elective 13 
 College Elective 13 

 

Year 3, Level III (Junior), Semester 6 (18 Credits)
Course #TitleCrHrsPrerequisites
0308332Investment Analysis30308230
0308362Introduction to Islamic Banking and Finance30308361
 Program Elective 23 
 College Elective 23 
 Minor Course 13 
 Minor Course 23 

 

Year 4, Level IV (Senior), Semester 7 (12 Credits)
Course #TitleCrHrsPrerequisites
0308430International Financial Management30308230
 Minor Course 33 
 Minor Course 431440264
0302461Research Methods3 
  3 

 

Year 4, Level IV (Senior), Semester 8 (15 Credits)
Course #TitleCrHrsPrerequisites
0308431Financial Markets and Institutions30308230

 

0308432

 

Seminar in Finance and Banking


3

senior standing/ Dept. Approv.

 

0302476

 

Strategic Management

 

3

senior standing/ Dept. Approv.
 University Requirement 83 
 Minor Course 53 


 

Study Plan – Islamic Banking Track

The Islamic Banking program encompasses 123 credits hours that are spread over eight semesters and could be completed in four years. The following study plan serves as a roadmap for a smooth progression toward graduation.

Year 1, Level I (Freshman), Semester 1 (15 Credits)
Course #TitleCrHrsPrerequisites
 University Requirements 13 
 University Requirements 23 
0302160Principles of Management3 
0301120Financial Accounting 13 
 University Requirements 33 

 

Year 1, Level I (Freshman),Semester 2 (15 Credits)
Course #TitleCrHrsPrerequisites
 University Requirements 43 
 University Requirements 53 
0302170Principles of Marketing3 
1440162Business Mathematics31440100
0303130Introduction to MIS3 

 

Year 2, Level II (Sophomore), Semester 3 (15 Credits)
Course #TitleCrHrsPrerequisites
0301211Managerial Accounting 230301120
0308230Financial Management3 
0308151Principles of Microeconomics3 
0302254Business Communication30202112
 University Requirement  63 

 

Year 2, Level II (Sophomore), Semester 4 (15 Credits)

Course #    Title                                                                     CrHrs             Prerequisites

1440264     Business Statistics                                                    3                      1440162

0308252     Principles of Macroeconomics                                  3                      0308151

0302250     Legal Environment of Business                                 3                      0302160

0308331     Corporate Finance                                                   3                      0308230

University Requirement 7                                                            3


 

Year 3, Level III (Junior), Semester 5 (18 Credits)
Course #TitleCrHrsPrerequisites
0308365Risk Management30308230
0308361Banking Operations Management30308230
0308361Operation and Supply Chain Management31440264
0308362Introduction to Islamic Banking and Finance30308361
0308240Principles of Islamic Economics3 
 Program Elective 13 

 

Year 3, Level III (Junior), Semester 6 (18 Credits)
Course #TitleCrHrsPrerequisites
0308332Investment Analysis30308230
0308364Islamic Banking and Finance in Practice30308362
0302350Ethics and Islamic Values in Business30302250
0308256Islamic Financial Contract 13 
 College  Elective 13 

 

Year 4, Level IV (Senior), Semester 7 (15 Credits)
Course #TitleCrHrsPrerequisites
0302461Research Methods31440264
0308430International Financial Management30308230
0308463Islamic Financial Instruments30308362
 College  Elective 23 
 Program Elective 23 

 

Year 4, Level IV (Senior), Semester 8 (15 Credits)
Course #TitleCrHrsPrerequisites
0308431Financial Markets and Institutions30308230

 

0308432

 

Seminar in Finance and Banking

 

3

senior standing/ Dept. Approval.

 

0302476

 

Strategic Management

 

3

senior standing/ Dept. Approval.
0308467Special Topics in Islamic Finance3 
 University Requirement 83 

 

Course Coding

The courses offered Department of Finance and Economics are designated by numbers of the form 0308 ABC where

ABC represent the year, term and course number in a sequence.

 

Course Description

The courses described below constitute all courses, mandatory and electives, that are offered by the Department of Finance and Economics to various tracks. College required courses are described in the College of business Admin- istration section.

 

0308341Islamic Insurance (Takaful)(3-0:0)
This course analyzes the basic elements of Islamic cooperative insurance or takaful as distinct from conventional insurance and how a takaful company can be organized offering a complete range of insurance-related services. The first part of this course deals with life insurance while the second part covers general insurance. It also covers challenges relating to retakaful or reinsurance. Prerequisite: 0103240. This course is equivalent to the course Intro- duction to Islamic insurance (0103341)

 

0308230Financial Management(3-0-3)

This course is designed to provide students with a basic understanding of financial decision making within a firm. The course deals with the goals and functions of financial management, financial analysis and planning, working capital management, the capital budgeting process, cost of capital, dividend policy and long-term financing. Prerequisite:

0301210.

 

0308255Principles of Islamic Economics(3-0:3)
This course studies the principles of economics in Islam, concentrating on issues such as: private and state property, money, ways of property transfer and its exceptional restrictions, the role of the state in developing the economy, taxes and their rules and controls, work and its importance, conditions and controls, the rights of workers and own- ers, unemployment, its causes and the ways of dealing with it, capital and its effects on stimulating the economy and development, productivity, consumption , and income distribution. Prerequisite: None

 

0308256Islamic Financial Contract I(3-0:3)

This course deals with the theories of property rights, ownership. However, the course is more focused on the general

theory of contract and on its pillars. Prerequisite: 0301255.

 

0308331Corporate Finance(3-0:3)
The course includes the scope of corporate finance, Present value, risk and return, capital budgeting, the cost of capital, capital structure, financial planning, working capital management, dividend policy, and mergers. The course will concentrate on financial decision making by applying the tools, techniques, and theories of finance to actual busi- ness decisions. Prerequisite: 0301230.

 

0308333        Quantitative Methods for Finance         (3-0:3)

The purpose of the course is to introduce students to a range of quantitative methods that are commonly used in several areas of finance. The course introduces concepts and methods from probability theory, statistical inference, regression analysis, financial modeling, and Monte Carlo simulation techniques. Prerequisite: 1440264.

 

0308334       Real Estate Finance                               (3-0:3)                                                                      

The course focuses on the financing issues related to real estate .It provides an introduction to real estate and goes on to discuss techniques of project evaluation, financing strategies and capital market issues related to real estate. Prerequisite: 0301230.

 

0308357 Islamic Financial Contract II                                                                                                      (3-0:3)

This course exposes students to the various types of commercial contracts and their applications. This course deals with the regulations of the following issues: bill of exchange, agreement, companies, deposit, usurpation, grant, crop sharing, use of uncultivated land, Waqf (endowment) and the jurists' views and their supporting arguments. Prereq- uisite: 0301255.

0308361Banking Operations Management(3-0:3)

This course covers bank accounts, bank services, methods of payment through the banking system, asset manage-

ment, liability management, credit analysis, investment policies, and bank marketing. Prerequisite: 0301230.

 

0308362Introduction to Islamic Banking and Finance(3-0:3)
This course focuses on principles of Islamic finance, Islamic approaches to money, banking and monetary policy, economic of profit- sharing, operations of Islamic banking. Prerequisite: 0301230.

 

0308364Islamic Banking and Finance in Practice(3-0:3)
The course covers many practical areas towards Islamic Commercial and Investment Banking. They includes imple- mentation of Islamic Finance, Musharakah accounts in Islamic Bank, Financing Projects through Islamic Banks, Islamic Financing for Imports and Exports and use of Musharakah for working capital. The course also covers Mura- baha, installment sales, speculation, Leasing and Istisna'a. Prerequisite: 0301362.

 

0308365Risk Management(3-0:3)
An operational approach to risk management in business and personal affairs. Principles of risk management; risk identification; risk financing; types of insurance coverage; and insurance contracts and premiums. Special reference will be made to the insurance market in the UAE. Prerequisite: 0301230.

 

0308430International Financial Management(3-0:3)
This course includes the fundamentals of financial evaluation, tools, and procedures, which are needed to facilitate decision-making of multinational corporations. The course also covers theories of international finance, the currency markets, and foreign exchange risk. Prerequisite: 0301230.

 

0308431Financial Markets and Institutions(3-0:0)
The focus of this course is on how resources are efficiently transferred from those with a surplus to those with a deficit, and on the instruments which facilitate this transfer. The discussion will cover financial markets, flow of funds, interest rate determination, market efficiency, financial intermediaries, bond markets, equity markets, mortgage mar- kets and foreign exchange markets. Prerequisite: 0301230.

 

0308432Seminar in Finance and Banking(3-0:0)
The course serves as a capstone course in finance and banking. It exposes students to a wide range of finance and banking related topics, including issues affecting the current financial environment of business firms. The course integrates material from previous courses taken in the finance major. Prerequisite: Senior Standing or Department Approval.

 

0308433Portfolio Management(3-0:0)
Analysis of quantitative and qualitative factors leading to valuation of equity and fixed-income securities. Application of alternative valuation techniques theories. Fundamental and technical approaches as well as contemporary devel- opments. Prerequisite: 0301332.

 

0308434Derivatives(3-0:0)

This advanced course offers the theory and the practical tools needed to price and hedge derivatives in the pro-

fessional marketplace. Equal coverage is given to options pricing theory and futures pricing theory. Prerequisite:

0301332.


 

 

0308461Credit Analysis and Lending Management(3-0:0)
The course focuses on the principles of lending, financial statement analysis, credit scoring techniques, credit risk analysis, consumer lending, real state lending, corporate and business lending, international lending and electronic banking and lending. Prerequisite: 0301230.

 

0308462Internship in Finance(3-0:0)
During the period of internship, the students are employed and supervised by firms and participate in various types of finance work in accordance with a plan approved by the department and the college. A student must complete eight weeks of training during regular working hours of the firm. This course can be taken during the summer between the student's junior and senior year. Prerequisite: Minimum 75 Credit Hours and Department Approval.

 

0308463Islamic Financial Instruments(3-0:0)
The course focuses on Islamic investment, Islamic bonds (Sukuk), stock exchange in the Islamic financial system, venture capital under Islamic system, profit sharing agreement, leasing under the Islamic system, sales contract, and Islamic unit trusts. Prerequisite: 0301362.

 

0308466Current Issues in Finance and Banking(3-0:0)
This course addresses contemporary topics and issues in Islamic Banking. Prerequisite: 0301361

 

0308467Special Topics in Islamic Finance(3-0:3)
This course is dedicated towards refining students' understanding of the basic principles involved in Islamic Finance as well as developing some more advanced techniques in Finance and Islamic banking. In addition, Contemporary topics and issues in Islamic Finance are addressed. Prerequisite: 0301362.

 

0308469Accounting for Islamic Banks(3-0:0)

The course covers the processes required to record the bank's unique transactions, as well as how to prepare finan-

cial statements as required by the bank's stakeholders. Prerequisite: 0301120.

 

0308468      Islamic Portfolio Management                                                                                                (3-0:0)

This course focuses on the techniques for portfolio selection. The course addresses both theory and practical as- pects of portfolio management with emphasis on the Islamic world. It will also consider the use of derivatives in managing risks. Prerequisite: 0301332.

 

Economics Courses

 

0308150       Introduction to Economics for NBS                                                                                       (3-0:0)

This course is offered to non-business students. It covers topics from both microeconomics and macroeconomics perspectives. From microeconomics, it covers topics such as: economic problem, supply and demand, price elastic- ity of supply and demand, consumer behavior, production and costs, perfect competition, monopoly. Topics from macroeconomics include; national income accounts, national income determination, money and banking, inflation, monetary and fiscal policies, international trade. This course will be offered in both Arabic and English. Prerequisites: None.

 

0308151       Principles of Microeconomics                                                                                                (3-0:0)

This course is designed to cover the following topics: economic problem, supply and demand, price elasticity of supply and demand, consumer behavior, production and costs, perfect competition, monopoly and monopolistic competition. Prerequisite: None.


0308252Principles of Macroeconomics(3-0:0)
This course is designed to cover the following topics: national income accounts, national income determination, money and banking, inflation, monetary and fiscal policies, international trade, growth and economic development. Prerequisite: 0301151.

 

0308351Intermediate Microeconomics(3-0:0)
This course discusses the theories of consumer and firm decision making, how prices and quantities are determined in equilibrium and how resources are allocated, different market structures, input demand, welfare economics, mar- ket failure and public goods. Prerequisite: 0301151 Principles of Microeconomics.

 

0308352Intermediate Macroeconomics(3-0:0)

National income, interest rate and money supply, government budget, price level, consumption and investment the-

ory, general equilibrium, business cycle, aggregate demand, aggregate supply and inflation. Prerequisite: 0301252

Principles of Macroeconomics.

 

0308253Managerial Economics(3-0:0)
This course covers microeconomic concepts and applications relevant to managerial decision-making. Topics include demand and supply analysis, consumer theory, forecasting, production and cost analysis, market structure, risk analysis, linear programming, decision making under uncertainty, regulatory theory and the role of government in the market. Prerequisite 0301151 Principles of Microeconomics.

 

0308254Environmental Economics(3-0:0)
This course deals with the application of microeconomic tools to the analysis of environmental externalities. A main theme is the impact of economic activity on the quality of the environment and the related policies and regulations that arise in response to these impacts. The course will cover methods of valuing non-market environmental resourc- es; assessment of environmental benefits and damages; analytical tools such as cost-benefit analysis needed for project evaluation and environment impact assessments; the concept of optimal pollution and its control; regulation and market solutions. Selected topics on international environmental issues and aspects of sustainable development will also be discussed. Pre-requisite: 0301351 Intermediate Microeconomics.

 

0308355Introduction to Econometrics(3-0:0)
This course covers the following topics: descriptive statistics. regression analysis, hypothesis testing, analysis of vari- ance, heteroskedasticity, multicolinearity  serial correlation, simultaneous equations. Prerequisites: 1440264 Busi- ness Statistics.

 

0308352Public Finance(3-0:0)
This course explores issues related to expenditure and tax policies of government, as well as view on the purpose of government criteria for evaluating governmental actions. In addition, this course investigates the influence of gov- ernment revenue and expenditure decisions on resource allocation, income distribution, and aggregate economic performance. 0301352: Intermediate Macroeconomics.

 

0308450Money and Banking(3-0:0)
This course is designed to discuss the following topics: financial system; financial markets and financial intermediar- ies, nature and functions of money, central banks and money creation, instruments and targets of monetary policy and monetary theory. Prerequisite: 0301352, Intermediate Macroeconomics.

 

0308453International Economics(3-0:0)

This course concentrates on two parts international trade and international finance. From the first part the course covers the following topics: comparative and absolute advantage in production, trade policies, trade barriers, terms of trade, multinational corporations and international trade agreements, the nature of the gains from trade, winners and losers. From the second part the course focuses on the following topics: fundamentals of international monetary economics, determination of exchange rate, exchange rate arrangements and balance of payments. Prerequisite

0301351.

 

0308455Economic Development(3-0:0)
This course introduces an analysis to the economic development process of newly developing nations. This course focuses on economic growth, economic development theories, population growth, human capital, poverty and in- come distribution. In Addition, it explores the impact of public policies on economic growth and development. Prereq- uisite: 0301352, Intermediate Macroeconomics.

 

0308456Economics of the Gulf Region(3-0:0)
The course presents an analysis to the economic features of the Gulf countries. It involves analysis of the important sectors and their contribution to gross domestic product. Moreover, this course focuses on the structure of petroleum industry worldwide and the factors affecting demand and supply of oil with a special reference to the economics of the Gulf region. Prerequisites: 0301151 - Principles of Microeconomics and 0301252 - Principles of Macroeconomics.

 

0308459Cost Benefit Analysis(3-0:0)
This course helps students to prepare and write a comprehensive study that will serve as a basis for creating a small business plan. It covers an analysis and evaluation of the projects, the market analysis, the initial study, the technical study, the financial study, the cost and the profitability of the project. Prerequisites: 0301151 - Principles of Microeco- nomics and 0301252 - Principles of Macroeconomics.

 

Minor Program in Finance

The Department of Finance and Economics offers a minor in Finance to students studying a major independent of Finance and Islamic banking. To satisfy the minor requirement, students must successfully complete five courses (15 credit hours) from the following list:

 

Course #TitleCrHrsPrerequisites
0308230Financial Management*30308120
0308331Corporate Finance30308230
0308332Investment Analysis30308230
0308334Real Estate Finance30308230
0308361Banking Operations Management30308230
0308362Islamic  Banking I30308230
0308365Risk  Management30308230
0308430International Financial Management30308230
0308431Financial Markets and Institutions30308230
0308461Credit Analysis and Lending Management30308230


 

Minor Program in Economics

The Department of Finance and Economics offers a minor in Economics to all Business Administration students. To satisfy the minor requirement, students must successfully complete five courses (15 credit hours) from the following list:

 

Course #      Title                                                                           CrHrs             Prerequisites

0308351 *    Intermediate Microeconomics                                        3                      0308151

0308352 *    Intermediate Macroeconomics                                       3                      0308252

0308253     Managerial Economics                                                     3                      0308151

0308254     Environmental Economics                                                 3                      0308151

0308355     Introduction to Econometrics                                            3           0308252 and 1440264

0308452     Public Finance                                                                   3                      0308252

0308450     Money and Banking                                                           3                      0308252

0308453     International Economics                                                     3                      0308252

0308455     Economic Development                                                     3                      0308252

0308456     Economics of the Gulf Region                                             3                      0308252

0308459     Cost Benefit Analysis                                                           3                      0308151

*Either one of these courses is Mandatory