Financial Economics — Accelerated 5-Year Bachelor's to Master's Program


University of Detroit Mercy College of Liberal Arts & Education's combined bachelor's and master's degree programs will increase your knowledge and skills in financial economics as a full-time student for 10 semesters (five academic years) before entering the workforce. This program features a Bachelor of Arts with a major in Financial Economics and a Master of Arts in Financial Economics.

Through Detroit Mercy's undergraduate curriculum, students focus on the academic study of economics as it applies to the realm of financial institutions and markets with a strong foundation in the theory and application of financial economic principles. Within the context of a liberal arts education, the program provides the fundamental knowledge and understanding of the principles, theories, history and institutions of an economy and the dynamics of domestic international financial developments. 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.

From there, the graduate program focuses on the study of economic theories and financial principles pertaining/relevant to the workings of the U.S. and international financial institutions and systems. The program also provides a deeper knowledge and understanding of the history, institutions and evolution of the world’s financial interactions.

This program allows incoming freshmen to complete both the bachelor's and master's degrees by being a full-time student for five academic years (10 consecutive semesters). Juniors at University of Detroit Mercy and transfer students may be admitted into the program with the permission of the department and Dean’s Office. Transferring credit in as a transfer student could reduce the time to complete the 5-year accelerated program based on what credits are transferred. For transfer students, please see additional information in the program requirements section below.

To obtain both the undergraduate degree and graduate degree of this accelerated program, the student must fulfill the requirements of the undergraduate degree by completing the University Core Curriculum, the requirements for the undergraduate major and a minimum of 120 credit hours as well as fulfill the requirements of the graduate program and the 30 credit hours of the degree. Both graduate and undergraduate requirements total a minimum of 150 credit hours.

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    Degree Requirements: B.A. Financial Economics Major, 120 credits; M.A. in Financial Economics, 30 credits

    For specific information on each degree, please refer to the catalog entry:


    Admission to the Program

    For incoming freshmen:

    • Enter the accelerated/five-year option as a full-time incoming freshman;
    • Have an SAT score of at least 1160 or minimum ACT composite score of 24, with a minimum of 22 in each section;
    • Have a high school grade point average of 3.4 overall on a 4.0 point scale; and
    • Place into appropriate-level freshmen math and writing courses at University of Detroit Mercy.

    Detroit Mercy students enrolled in another Detroit Mercy major can transfer into this program up to their first term as a junior if they maintained a minimum grade point average of 3.25 each term throughout their undergraduate program.

    Transfer students entering this program from a community college:

    • Must have 60-63 transferable credits.
    • Must meet the requirements for the Michigan Transfer Agreement (MTA).
    • Must have a cumulative GPA of 3.25.

    Program Requirements

    Requirements for incoming freshmen:

    • Must maintain full-time status throughout undergraduate and graduate segments.
    • The bachelor’s degree must be completed in four years and the master's degree must be completed in the fifth year.
    • All undergraduate and graduate requirements must be met.
    • May take up to four graduate classes in the senior year (maximum two a term).
    • Must maintain at least a grade point average of 3.25 each term throughout the undergraduate program.
    • May experience different financial aid packages for onsite and online graduate programs.

    Transfer students entering this program from a community college:

    • Must have 60-63 transferable credits.
    • Must meet the requirements for the Michigan Transfer Agreement (MTA).
    • Must have a cumulative GPA of 3.25 and maintain that throughout the entire undergraduate portion of the program.
    • Must maintain full-time status. Can take summer courses if needed to either catch up or advance more quickly but must finish the undergraduate baccalaureate degree at end of their fourth year; and complete their graduate degree at the end of their fifth year.
    • Can take up to four graduate courses in fourth year/senior level status with a maximum of two graduate classes per term.
    • Must maintain a minimum grade point average of 3.0 (B) for graduate courses.
    • Each semester, fall and winter, of the senior year requires 9-12 credits of the specified undergraduate classes and six credits of graduate classes.

    Note: If transfer students have maintained full-time undergraduate status with the requisite grade point average, they do not need to apply for admission into the graduate program or take any exams such as GRE.


    How It Works—Save Time and Money

    The student pays full-time undergraduate tuition during the first four years and regular graduate tuition for the fifth year. One economic benefit to the student is that the cost of the first 12 graduate credits (two courses in the fall and two courses in the winter) has been covered by the normal undergraduate tuition, meaning that no additional costs are incurred in the fourth-year-full-time tuition rate. Since the graduate program will be reduced by the four graduate courses taken while an undergraduate student, the graduate program can be done faster and more economically. Certain financial aid benefits are also applied to the entire five-year program usually resulting in more savings.

    The student MUST maintain full-time status during the first three years. Depending on the program and the student’s incoming record such as AP credits, full-time status usually means 15 to 18 credit hours per semester. This will result in the student having 102 to 108 credits entering the senior year. During the senior year, students must remain full-time, finishing their undergraduate degree while taking up to 12 credits of graduate work. A maximum of 12 graduate credits is allowed in the undergraduate portion of the program (six credits in fall and six in winter). For freshmen, this program MUST be completed in five years from start to finish. If the student does not finish within the five years, then the program reverts to the costs associated with earning a master's degree outside of the five-year program and other financial aid benefits may be lost. Students who transfer into the program MUST maintain full-time status until the completion of the program.


    Sample 5-Year Program

    This sample schedule serves only as an approximate guide. Credits per year may vary depending on course availability. Full-time status must be maintained in all semesters.

    • First Year: 33-36 undergraduate credits
    • Second Year: 33-36 undergraduate credits
    • Third Year: 33-36 undergraduate credits
    • Fourth Year:
      • First Semester: 9 undergraduate credits, 6 graduate credits
      • Second Semester: 9 undergraduate credits, 6 graduate credits
    • Fifth Year
      • First Semester: 6-9 graduate credits
      • Second Semester: 6-9 graduate credits

Program Contact Information

Raphael Shen, S.J., Ph.D.
Professor and Chair
Department of Economics
Briggs Building, Room 315
McNichols Campus

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