Financial Economics (BA)


Financial Economics concerns the interrelation of financial variables, such as prices and interest rates, from the perspectives of providers of capital and the users of capital. It offers a framework for analyzing the use and distribution of resources in markets in which decisions are made under uncertainty. It provides the theoretical and practical underpin for much of the fields of finance.

The Bachelor of Arts with a major in Financial Economics focuses on economic principles and on putting these principles to work in the various fields of finance such as investment management, portfolio formulation, and financial assets pricing. It applies the academic study of economics to the realm of financial institutions and markets with a strong foundation in the theory and application of financial economics principles. The program provides rigorous coverage aimed at assisting undergraduate students to understand the principles and practical applications of financial economics theory.  It centers on decision making under uncertainty in the context of the financial markets. The program applies quantitative and qualitative techniques on making financial decisions in practice. The program also prepares the students to think critically and to evaluate the moral and ethical issues that the students would encounter in the realm of financial markets.

The program curriculum includes:

  • Fundamental and intermediate economic models;
  • Financial economics theory and its applications in the context of financial markets;
  • The functioning of financial instruments within financial institutions, industry and government;
  • Quantitative and qualitative methods;
  • International finance and how it relates to the U.S. economy; and
  • Application of basic moral and ethical principles in the analysis of economic systems and financial issues.

The program consists of 30 credit hours. The credit hours earned for the completion of the Bachelor of Arts in Financial Economics may not be counted toward the completion of either the Bachelor of Arts with a major in Economics or for earning additional minors in economics or financial economics.

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    Degree/Major Requirements

    To obtain this undergraduate degree, the candidate must successfully complete the University's Core Curriculum and all Department-designated program courses and requirements.

    A minimum of 120 total credit hours is required for graduation. A minimum of 2.0 GPA must be maintained, although students should be aware that admission to graduate programs usually requires a minimum of 3.0 GPA for their undergraduate coursework.

    Curriculum for the McNichols Campus

    Students will complete the following courses for a total of 30 credits, in addition to the Detroit Mercy Core Curriculum.

    • ECN 2950 Microeconomic Principles (3 credits)
    • ECN 2960 Macroeconomic Principles (3 credits)
    • ECN 3050 Money and the Financial System (3 credits)
    • ECN 3150 Intermediate Microeconomics (3 credits)
    • ECN 3160 Intermediate Macroeconomics (3 credits)
    • ECN 4100 Data Analytics Foundations (3 credits)
    • ECN 4460 Money and Capital Markets (3 credits)
    • ECN 4660 International Finance (3 credits)
    • STA 2250 Statistics (3 credits)

    Possible Electives - choose one from the following (3 credits):

    • ECN 4150 Econometrics I (3 credits)
    • ECN 4160 Advanced Money and Capital Markets (3 credits)
    • ECN 4200 Labor Economics (3 credits)
    • ECN 4300 Performance of United States Industry (3 credits)
    • ECN 4355 Comparative Economic Systems (3 credits)
    • ECN 4400 Economics of The Public Sector (3 credits)
    • ECN 4480 Business Forecasting (3 credits)
    • ECN 4640 Practical Issues in Financial Economics (3 credits)
    • ECN 4650 Economics of International Trade (3 credits)
    • ECN 4700 Special Problems in Economics (3 credits)
    • ECN 4705 Economic Development (3 credits)
    • ECN 4850 Monetary and Fiscal Policy (3 credits)
    • ECN 4990 Senior Seminar (3 credits)

    For MCC Transfer Students Completing the Bachelor of Arts with a Major in Financial Economics at the Macomb University Center:

    Please Note: University of Detroit Mercy is no longer offering the Financial Economics program at the Macomb University Center as of 2020-21. Students already enrolled prior to 2020 will be able to complete their program online.

    For students who have earned an associate's degree from Macomb Community College (MCC), equivalent MCC classes meet core curriculum requirements at the 1000 and 2000 levels. The program consists of 30 credit hours in Economics, with the remainder undergraduate credits hours, in addition to the Detroit Mercy Core Curriculum, being in other academic disciplines.  For students who have completed Macomb Community College's Skill Specific Certificate in Accounting/Finance, 13 credit hours will transfer toward Detroit Mercy's Financial Economics undergraduate major.

    Students who take MCC classes after admission to Detroit Mercy need to complete a guest pass application each semester. In addition to the 63 credits earned for the associate's degree, an additional 33 credits from MCC are allowed.


    College of Liberal Arts & Education Core Curriculum

    See University Core Curriculum for more information. Specifically, the student should follow the core for the College of Liberal Arts & Education.


    Course Delivery

    To provide greater convenience and flexibility, courses will be available in different delivery options:

    • Traditional day and evening in-classroom format
    • Online courses

    The program is offered at Detroit Mercy's McNichols Campus in Detroit, Michigan.


    Admission Requirements

    Prerequisites and Admission Requirements

    In order to be admitted to the undergraduate Financial Economics program, the applicant must meet University of Detroit Mercy entrance requirements. Transfer students must have a minimum undergraduate GPA of 2.0 to be considered for admission.


    Financial Economics Minor

    University of Detroit Mercy's 18-credit minor in Financial Economics provides a foundation for understanding various economic principles, international finance, and money and capital markets.

    Visit the Financial Economics minor page for more information.



    Detroit Mercy's Department of Economics faculty have significant academic as well as practical experiences in the world of finance, economics and business. Specific areas of expertise include international and development economics, financial institutions and public policy and economic theory.


    Career Options

    The Financial Economics major provides students with the foundation for a career in the fields of investment banking, asset management, commercial banking, consulting and management in financial institutions.  Inside the financial functions in manufacturing or service industries, and in various levels of government or non-profit organizations, students will be well prepared to provide corporate financial management services.

    The degree also helps students prepare for careers in either the legal profession or in the rapidly emerging international sector of financial markets as well as provides students with a well-sorted training for further education in the fields of Financial Economics.

    Given the ever-evolving needs of financial institutions with complex products and processes, there is a growing job market in the field of financial economics. According to the U.S. Department of Labor’s Bureau of Labor Statistics, "employment of financial analysts is projected to grow 11 percent from 2016 to 2026, faster than the average for all occupations. A growing range of financial products and the need for in-depth knowledge of geographic regions are expected to lead to strong employment growth."


    Accelerated 6-Year (3+3) Law Scholars Program

    Detroit Mercy’s innovative Accelerated 6-Year Law Scholars Program enables you to earn both a bachelor's degree in Financial Economics and a Juris Doctor degree in only six years rather than the traditional seven. You will spend the first three years earning credit toward your bachelor’s degree and the last three completing the Juris Doctor requirements.

Program Contact Information

Department Chair: Raphael Shen, S.J., Ph.D.
Briggs Building, Room 315
McNichols Campus

Telephone: 313-993-1738
Fax: 313-993-1166

Department Website