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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.

Major in Finance Courses

A.    Mandatory Core Courses:

Note 2: Senior Standing/ Department Approval

B.    Elective Core Courses:

 Minor in Finance Courses

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

 Minor in Economics Courses

 *Either one of these courses is Mandatory

Study Plan (123 Credits):

The study plan for the Finance Program is presented in this link. The plan shows that the students can normally complete the program within eight regular semesters over a period of four academic years. 

Course coding

Courses offered by the Department of Finance and Economics are designated numbers of the form 0308ABC where:

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 Administration section.

Descriptions of all courses offered by the Finance program are given below.

Finance Courses

0308230              Financial Management                               

Prerequisite:      None

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, the time value of money, bond valuation, stock valuation, the capital budgeting process, cost of capital and risk and return.

0308331              Corporate Finance                                       

Prerequisite:      0308230 - Financial Management

The course covers a wide range of topics such as the scope of corporate finance, the valuation of companies by using DCF (discounted free cash), measures of risk, return, and diversification, bond valuation, stock valuation, capital budgeting, financial planning, the cost of capital, capital structure, distribution (dividend and buyback) policies and mergers and acquisitions. The practical cases studies and projects related to all these topics are performed using the Microsoft excel financial modelling techniques.

0308332              Investment Analysis                                    

Prerequisite:      0308230 - Financial Management

This course covers the opportunities of investments in financial assets followed by discussion on investment theories and valuation processes. The course will focus on the minimization of investment risk by portfolio construction, asset allocation, and performance evaluation of investment portfolios. The course aims at grooming up the students with the fundament and theoretical aspects of securities investments in an ideal market condition. Therefore, students are able to understand the differences in the real market and analyze the market differences from the perspective of an investment decision maker.

0308333              Quantitative Methods for Finance          

Prerequisite:      1440264 - Business Statistics

The purpose of the course is to provide an introduction to a range of statistical techniques that are commonly used in finance, a basic understanding of econometric analysis, and an appreciation of the general role of quantitative research methods in finance. It also aims to develop the practical computational skills of participants by offering an opportunity to solving financial problems and building financial models. The course focuses on the application of statistical techniques and methods in empirical analysis in finance such as probability theory, statistical inference, regression analyses, financial modelling, and Monte Carlo simulation techniques.

0308334              Real Estate Finance                                     

Prerequisite:      0308230 - Financial Management

The course is designed to provide students with an introductory analysis into real estate markets.  This class will provide an overview of real estate markets, real estate valuation, real estate development and mortgage financing. The class starts with an analysis of real estate markets with emphasis placed on what determines house price movements. This analysis will form the foundation of the rest of the course. We separately analyze residential and commercial properties.  In doing so, we focus on real estate property development. The course aims to help students achieve technical competence in understanding different forms of real estate finance such as fully amortized constant payment loans, price-level adjusted mortgages, participating mortgages etc. It intends to give students the technical skills for analyzing the cash flows and economic returns of real estate development and investment. Finally, it will expose students to as many aspects of real estate issues and decision-making as possible.

0308361              Banking Operations Management          

Prerequisite:      0308230 - Financial Management

This course covers the main functions and services of banks, financial stamen of banks, measuring and evaluating the performance of banks, asset-liability management and duration techniques, liquidity and reserves management, managing and pricing deposit services investment policies, and the management of capital.

0308365              Risk Management                                        

Prerequisite:      0308230 - Financial Management

The course focuses primarily on introducing risk and insurance, blends basic risk management and insurance principles with consumer considerations. Coverage includes a discussion of basic concepts of risk and insurance, risk management and insurance techniques, functional and financial operations of insurers, legal principles, life and health insurance, auto insurance, property and liability insurance, employee benefits, and social insurance.

0308430              International Financial Management     

Prerequisite:      0308230 - Financial Management

This course covers the most important concepts applied in the financial decision making process of multinational corporations. These comprise arbitrage theory, market efficiency, capital asset pricing and total risk. Initially, students will comprehend how the foreign exchange market is structured, the way exchange rates are determined, exchange rate regimes in practice today and the links between exchange rates and other macroeconomic variables such as inflation, interest rates, money supply etc. During the second part of the course, students will focus on foreign exchange rate exposure for multinational corporations and identify the basic hedging strategies used by these firms to manage this type of risk. Finally, students will deal with international currency bond and credit markets and discuss the conceptual underpinnings of international financial markets.

0308431              Financial Markets and Institutions          

Prerequisite:      0308230 - Financial Management

The scope of this course is to provide students with an overview of how financial markets are structured and which are the main financial institutions that operate within them. The focus will initially be on the importance of interest rates in the economy and the basic forces that influence their movements. Then, students will develop an understanding of the principal capital markets, that is, the bond and equity market. The second part of the course will be devoted to the study of financial institutions starting with outlining the goals, tools, strategy and tactics of central bank policymaking. Then the reasons why we need strong financial institutions, the potential conflicts of interest and the need for regulation especially after the last Global Financial Crisis will be explained. Finally, the functioning of specific financial institutions such as mutual funds or investments banks will be described.

0308438              Seminar in Finance and Banking              

Prerequisite:      Senior Standing or Department Approval and 0308230

The course serves as a capstone course in finance and banking research. It exposes students to a wide range of finance and banking related research topics, including issues affecting the current financial environment of business firms. The course integrates material from previous courses taken in the finance major and linking them to academic research. The primary objective of this course is to prepare senior finance students to synthesize their theoretical financial knowledge through exploring the relevant research findings in the international context vis-a-vis the UAE and Arabian Gulf countries. Students will study assigned research papers on the selected topics covering different areas in Finance and Banking Namely Corporate Finance, Investments, Financial Markets, International Finance and Banking (Conventional and Islamic).

0308433              Portfolio Management                               

Prerequisite:      0308332 - Investment Analysis

This course focuses on the investment decision making from the perspective of the portfolio manager. Topics covered include the process of creating, maintaining, and evaluating the performance of professional investment portfolios. This course is structured and designed for senior finance students to provide them with higher skill in portfolio construction and management as well as asset allocation. Special emphasis is given on the analysis of quantitative and qualitative factors leading to valuation of equity and fixed-income securities. Application of alternative valuation techniques and theories are also covered besides other topics such as fundamental and technical approaches as well as contemporary developments in portfolio management.

0308434              Derivatives                                                     

Prerequisite:      0308332 - Investment Analysis

This course aims at grooming up students with the key concepts and tools in derivative markets and instruments. It provides an overview of the derivatives securities market where investment managers operate in order to manage their portfolio risk. It provides students with the theory and applications of derivative markets and instruments. The course introduces various types of options and strategies of option trading, principles of trading on futures markets, speculation and hedging. Upon completion of the course, students should be able to achieve the following goals.

0308461              Credit Analysis and Lending Management          

Prerequisite:      0308230 - Financial Management

The course provides the student with a strong background of the management of advances and loans in financial institutions. The course covers initially the principles of good lending which make up the framework for the credit management in lending institutions. These comprise among others the 5Cs of credit, financial statement analysis, credit scoring analysis and credit scoring techniques. The second part of the course deals with different types of loans and relative differences in managing them. These types include consumer finance, credit cards, real estate finance, corporate loans, small business lending, and international lending.

0308366              Internship in Finance                                  

Prerequisite:      Minimum 75 Credit Hours and Department Approval

This course is intended to provide students with practical training in their areas of concentration according to an approved plan. During the period of internship, the students are employed and supervised by firms and participate in various types of business works in accordance with a plan approved by the department and the college. A student must complete 120 hours intensive training in an organization designated by the College in cooperation with the University training office within a time frame (4 to 6 weeks).   

0308463              Islamic Financial Instruments                   

Prerequisite:      0308230 - Financial Management

This course focuses on Islamic investment, Islamic bonds (Sukuk), and stock exchange in the Islamic financial system, and venture capital under Islamic system, profit sharing agreement, leasing under Islamic system, sales contract and Islamic unit trusts.

0308466              Advanced Topics in Finance and Banking            

Prerequisite:      0308230 - Financial Management

This course aims to provide students with advanced knowledge and understanding of corporate finance and international banking. Important topics to be discussed comprise firm optimal capital structure, mergers and acquisitions, behavioral finance, corporate governance, international banking, banking competition, and international banking regulation.

Economics Courses

0308150              Introduction to Economics for NBS         

Prerequisites:    None

Introduction to Economics for NBS is a study of basic economic principles, of both Microeconomics and Macroeconomics. This course is stressing how consumers, producers, and policy makers make rational economic decisions under varying economic conditions.

0308151              Principles of Microeconomics                  

Prerequisite:      None

This course introduces economic analysis of individual, business, and industry choices in the market economy. Starting from defining economies and its principles, we will study how the market forces of supply and demand is key determinates for prices. We will see the sense in which market economies are efficient, and the way governments can make our economy less or more efficient. We will delve behind the supply curve to see how firms choose their production levels to maximize profits, culminating in the model of perfect competition. Time permitting; we will look at market failures such as monopoly, externalities, the markets for the factors of production and the theory of consumer choice.

0308252              Principles of Macroeconomics                 

Prerequisite:      0308151 - Principles of Microeconomics

Principles of Macroeconomics İS designed to introduce the basic concepts of macroeconomics for students. The topics covered include the measurement of aggregate output, unemployment and inflation, determinants of economic growth in the long-run, year-to-year fluctuations in economic activity, the role of monetary and fiscal policy in the economy, comparative advantage in international transactions, and exchange rates.

0308351              Intermediate Microeconomics                 

Prerequisite:      0308151 - Principles of Microeconomics

This course provides students with an advanced knowledge of the functioning of the economy at the micro level. The focus is on the theories of consumer and firm decision making, how prices and quantities are determined in equilibrium, how resources are allocated, different market structures, input demand, welfare economics, market failure, and public goods.

0308352              Intermediate Macroeconomics                

Prerequisite:      0308252 - Principles of Macroeconomics

The primary goal of this course is to enable students to develop a consistent way of thinking about key macroeconomic phenomena and to analyze complex issues and current events. This should give students the ability to understand how economic policy and shocks affect the economy as reflected in aggregate macro variables such as output, interest rates, prices, and employment, and also have insights about the different schools of economic thought (Keynesianism, Monetarism, Classical Economics).

0308253              Managerial Economics                               

Prerequisite:      0308151 - Principles of Microeconomics

This course is designed to provide students with a basic understanding of microeconomic concepts and applications relevant to managerial decision-making. The course 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.

0308355              Introduction to Econometrics                   

Prerequisites:    1440264 - Business Statistics

This course is developed to equip students with a basic understanding of analysis of economic data. The course covers descriptive statistics, hypothesis testing, analysis of variance, regression analysis, heteroskedasticity, multicollinearity, serial correlation, and simultaneous equations.

0308452              Public Economics                                         

Prerequisite:      0308252 - Principles of Macroeconomics

This course provides students with an understanding of market failure and government intervention requirement. The course deals with the imperfect nature of government intervention, how the intervention affects the economy, particularly in the areas of resource allocation, income distribution, and the incidence of taxation.

0308450              Money and Banking                                    

Prerequisite:      0308252 - Principles of Macroeconomics

This course studies the role of financial markets & institutions and money in the economy. It examines how interest rates are determined, why fluctuated over time, how money is created by the banking system, and the role of the Central Bank in the whole process. Issues like the banking crisis and the proper role of monetary policy will be examined in detail. The interaction between the goods sector and the financial sector, as well as the interrelationships between the domestic and the international financial sectors will be analyzed.

0308453              International Economics                            

Prerequisite:      0308252 - Principles of Macroeconomics

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, and 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.

0308455              Economic Development                             

Prerequisite:      0308252 - Principles of Macroeconomics

Economic Development introduce an analysis to the economic development process of newly developing nations for students. The course focuses on economic growth, economic development theories, population growth, human capital, poverty, and income distribution. Additionally, it explores the impact of public policies on economic growth and development.​​