2023-24 Academic Catalog

Finance and Economics

Department Head and Graduate Coordinator: Dr. Kathleen Thomas
Area Advisor, Ph.D. concentration in Finance: Dr. Brandon Cline
312 McCool Hall
Box 9580
Mississippi State, MS 39762
Telephone: 662-325-2342
Finance Area Advisor's Email: brandon.cline@msstate.edu

The Department of Finance and Economics offers the following graduate degrees through the College of Business:

  • Master of Arts in Economics
  • Doctor of Philosophy in Business Administration with a concentration in Finance

The department also participates in the interdisciplinary Master of Business Administration (MBA) program. See the College of Business Administration section of this publication for MBA and PhD information.

Master of Arts in Economics

Because the Master of Arts (M.A.) degree in Economics is normally an incidental degree on the way to a doctoral degree, the Department of Finance and Economics does not typically offer a terminal M.A. degree. In rare circumstances, the Graduate Coordinator may approve an application for a terminal M.A. degree. However, in almost all cases, graduate students will earn the M.A. on the way to receiving their doctoral degree or if they leave the Ph.D. program after completing all necessary requirements for the M.A.  

Master of Arts in Economics - Thesis

Core Courses
EC 8133Econometrics I3
EC 8163Microeconomics I3
EC 8173Macroeconomics I3
Additional Coursework
EC XXXXGraduate-level coursework15
EC 80006
Total Hours30

In the rare case where the Graduate Coordinator approves an application for a terminal M.A. degree, the M.A. student will prepare a program of study with consultation from the graduate advisor and a program committee. The student may choose to take field courses from a wide variety of areas within economics.

Master of Arts in Economics - Non-Thesis

Core Courses
EC 8133Econometrics I3
EC 8163Microeconomics I3
EC 8173Macroeconomics I3
Additional Coursework
EC XXXXGraduate-level coursework21
Total Hours30

In the rare case where the Graduate Coordinator approves an application for a terminal M.A. degree, the M.A. student will prepare a program of study with consultation from the graduate advisor and a program committee. The student may choose to take field courses from a wide variety of areas within economics.

Doctor of Philosophy in Business Administration, Finance Concentration

See the Business Administration - Ph.D. Programs of Study.

Economics

EC 6183 U.S. Economic History: 3 hours.

(Prerequisite: Completion of any 1000-level history course). Three hours lecture. An intensive study of economic change in the United States and its impact on political and social development. (Same as HI 4183/6183)

EC 6213 Personnel Economics: 3 hours.

(Prerequisites: EC 2113 and EC 2123). Three hours lecture. Economic analysis of human resource issues within business organizations. Theoretical examination of hiring standards, productivity, compensation schemes, training, teamwork, incentives, benefits, worker empowerment, and evaluation

EC 6223 Labor Law and Employment Policy: 3 hours.

(Prerequisites: Three hours credit of economics or consent of instructor). Three hours lecture. Examination of the legal and regulatory environment of the employment relation- ship in today's American economy; including, unionization, equal employment opportunity, occupational health and safety

EC 6303 International Economic Development: 3 hours.

(Perquisites: EC 2113 and EC 2123). Three hours lecture. An analysis of problems facing developing economies and polices designed to promote economic growth with an emphasis on income distribution, trade, agriculture, industry, and technology

EC 6323 International Economics: 3 hours.

(Prerequisite: EC 2113 and EC 2123).Three hours lecture. The nature of international trade.International theory. Economic analysis of the movement of goods,resources, and financial assets across national borders

EC 6423 Public Finance: 3 hours.

(Perquisites: EC 2113,EC 2123 and EC 3123). Three hours lecture. Economics of the public sector. Analysis of government’s influence on distribution, allocation, and stabilization functions. Emphasis on public goods, externalities, social insurance, and taxation

EC 6433 State and Local Finance: 3 hours.

(Perquisites: EC 2113 and EC 2123). Three hours lecture. Fiscal and economic effects of state and local budgets; alternative tax and expenditure models; fiscal administration and budgeting with emphasis on local economic development

EC 6443 Economics of Education: 3 hours.

(Prerequisites: EC 2123 or instructor consent). Three hours lecture. Examines provision of education using economic theory. Topics include research methods, education production functions, school finance, labor market outcomes, economic growth, teacher quality, school accountability, equity, and access to higher education

EC 6523 History of Economic Thought: 3 hours.

(Prerequisites: EC 2113 and EC 2123 or consent of instructor). Three hours lecture. Survey of economic ideas from Ancient Greece to present, emphasizing the changing foci and methodologies of economics relative to economic problems perceived at the time

EC 6643 Economic Forecasting and Analysis: 3 hours.

(Prerequisites: EC 2113,EC 2123, and BQA 2113 (or equivalent) or consent of the instructor). Three hours lecture. Forecasting tools and econometric estimation techniques utilizing regression,exponential smoothing, decomposition, frontier analysis, etc. Real-world data, business applications, and model building are emphasized

EC 6990 Special Topics in Economics: 1-9 hours.

Credit and title to be arranged. This course is to be used on a limited basis to offer developing subject matter areas not covered in existing courses. (Courses limited to two offerings under one title within two academic years)

EC 7000 Directed Individual Study in Economics: 1-6 hours.

Hours and credits to be arranged

EC 8063 Foundations of Microeconomic Theory: 3 hours.

(Prerequisite: Graduate standing.) Three hours lecture. Exposition of the theoretical foundations to microeconomic theory: market process, price mechanism, exchange and production, cost and supply, non-market decision making, and the international economy

EC 8103 Economics for Managers: 3 hours.

(Prerequisites: Graduate Standing and FIN 3123 or equivalent). Three hours lecture. Primarily for masters level candidates. Exposition of the fundamental theoretical and analytical tools of economics used by business managers engaged in decision making

EC 8113 Labor Theory and Analysis: 3 hours.

(Prerequisites: Graduate Standing). Three hours lecture. Theoretical and empirical examination of labor market processes and policy; Wage determination, resource allocation, labor mobility, human capital investment, discrimination and income distribution

EC 8123 Mathematics for Economists: 3 hours.

(Prerequisite: Graduate standing.) Three hours lecture. The course covers topics in linear algebra, logic and set theory, topology, real analysis, and optimization theory

EC 8133 Econometrics I: 3 hours.

(Prerequisite: AEC 8413 or consent of instructor). Econometric theory and methods. Topics include the classical linear regression model, maximum likelihood estimation, generalized least squares, and estimation with panel data. equations

EC 8143 Econometrics II: 3 hours.

(Prerequisite: EC 8133). A continuation of EC 8133. Topics include advanced theories of simultaneous equations estimation methods, time series econometrics, and estimation with qualitative and limited dependent variables

EC 8163 Microeconomics I: 3 hours.

(Prerequisite: EC 3123 or EC 8103 or equivalent). Three hours lecture. Survey of demand analysis, production, cost, and supply relationships, analysis of pricing under competitive and noncompetitive conditions, analysis of income distribution with emphasis on input pricing

EC 8173 Macroeconomics I: 3 hours.

(Prerequisites: EC 3113, EC 3123, and one semester of calculus, or consent on instructor). Three hours lecture. Synthesis of short and long run analysis of the macroeconomy with special emphasis on the role of fiscal and monetary policy

EC 8263 Microeconomics II: 3 hours.

(Prerequisite: EC 8163 ). Three hours lecture. An exposition of general equilibrium theory, the theory of welfare economics and the economics of information

EC 8273 Macroeconomics II: 3 hours.

(Prerequisites: EC 8173 or equivalent). Three hours lecture. Examination of the modern macroeconomic synthesis. Studies in dynamic economic growth, rational expectations, monetarism, disequilibrium analysis, and open market economies

EC 8313 Regional Economic Analysis: 3 hours.

(Prerequisities:EC 4313/6313 and EC 8133 or equivalent or consent of instructor). Three hours lecture. Theories and tools. Includes economic base, recursive and simultaneous equation econometric models, input-output analysis, and mixed models

EC 8403 Game Theory: 3 hours.

(Prerequisite: AEC 8163 or EC 8163 or consent of instructor).Three hours lecture. An exploration of how agencies interact strategically. (Same as AEC 8403)

EC 8423 Public Finance: 3 hours.

(Prerequisite: Graduate standing). Three hours lecture. Foundations of public finance: the role of government, major government expenditures, optimal taxation, and applied research methods

EC 8473 Public Choice: 3 hours.

(Prerequisite: Graduate Standing). Three hours lecture. A survey of public choice, also known as political economy, rational choice theory, or the economics of politics. The goal is to provide students with a general framework within which public sector policies and decisions can be evaluated

EC 8643 Applied Economic Skills: Advanced Estimation and Diagnostics of Econometric Models: 3 hours.

(Prerequisites: EC 8133 and EC 8143 or consent of the instructor). Advanced econometric tools, diagnostics, and estimation techniques with an emphasis on applied economic model building. Application of econometric theory to real- world problems and issues

EC 8653 Microeconometrics: 3 hours.

(Prerequisite: Graduate standing.) Topics include discrete choice models, truncated and censored regression models, sample selection models, duration models, variance estimation, matching and propensity score methods, measurement error, and panel data models. The econometric concepts are illustrated using economic applications

EC 8990 Special Topics in Economics: 1-9 hours.

Credit and title to be arranged. This course is to be used on a limited basis to offer developing subject matter areas not covered in existing courses. (Courses limited to two offerings under one title within two academic years)

EC 9000 Research in Economics: 1-13 hours.

Hours and credits to be arranged

Finance

FIN 6101 VentureCatalyst™ Finance Internship I: 1 hour.

(Prerequisites: B or better in FIN 3123 and FIN 3203; consent of instructor). One credit hour. Support start-up teams in the Center for Entrepreneurship and Outreach with the preparation of business plans, market analysis, and financial projections. Section open by invitation only after completing interview process

FIN 6111 TVA Panel I: 1 hour.

(Prerequisite: ACC 2013 or equivalent, junior/graduate standing, and consent of instructor). One hour lecture. Experience analyzing and selecting stocks for the Tennessee Valley Authority's asset decommissioning trust portfolio. Section open through invitation only. Course may be taken two times

FIN 6112 TVA Panel II: 2 hours.

(Prerequisites: FIN 4111/6111, junior/graduate standing, and consent of instructor). Two hours lecture. Experience selecting and analyzing portfolio strategies for the Tennessee Valley Authority’s Investment Challenge. Section open through invitation only. Course may be taken two times

FIN 6123 Financial and Commodities Futures Marketing: 3 hours.

(Prerequisite: Junior standing). Three hours lecture. Discussion of the purpose, function mechanics, analysis and application of financial and commodity futures markets in pricing and hedging opportunities (Same as AEC 4123/6123)

FIN 6323 Entrepreneurial Finance: 3 hours.

(Prerequisite: Grade of C or better in FIN 3123 or IE 3913). Three hours lecture. Development, implementation, and control of financial plans, strategies, and policies by owner-managers of small and medium-sized firms; analysis of alternatives and decision making

FIN 6453 Financing the American Dream: 3 hours.

Explores differing views of the American Dream and collection of wealth in America. Further, the class studies how those who have collected wealth may use it to help others attain the American Dream

FIN 6743 Consumer Finance: 3 hours.

(Prerequisite: Grade of C or better in FIN 3123; prerequisite or co-requisite FIN 3723). Three hours lecture. Supply and demand for consumer credit products, their role in the lending landscape, economic impact of the consumer finance industry, its workings, and its regulation

FIN 6923 International Financial Management: 3 hours.

(Prerequisites: FIN 3123 or consent of instructor). Three hours lecture. A study of the theory and actual behavior of international financial management,foreign financial markets, exchange rate risk management, and foreign direct investments

FIN 6990 Special Topics in Finance: 1-9 hours.

Credit and title to be arranged. This course is to be used on a limited basis to offer developing subject matter areas not covered in existing courses. (Courses limited to two offerings under one title within two academic years)

FIN 7000 Directed Individual Study in Finance: 1-6 hours.

Hours and credits to be arranged

FIN 8113 Corporate Finance: 3 hours.

(Prerequisite: Graduate Standing and FIN 3123 or equivalent). Three hours lecture. An examination of the interaction between financial accounting, cash flow estimation, capital budgeting, risk and return, capital structure, and working capital management

FIN 8333 Investment Management: 3 hours.

The course covers the basic principles and practical applications of the investment process. It describes the investment environment, identifies the major participants in financial markets and explains how financial securities are traded. Additionally, methods to value financial assets, manage risk and evaluate performance will be discussed

FIN 8733 Financial Markets, Rates and Flows: 3 hours.

(Prerequisite: FIN 8112 and FIN 8122 or equivalent). Three hours lecture. An analysis of money and capital market instruments; a study of interest rates and financial flows; the effect of public policy on credit conditions

FIN 8990 Special Topics in Finance: 1-9 hours.

Credit and title to be arranged. This course is to be used on a limited basis to offer developing subject matter areas not covered in existing courses. (Courses limited to two offerings under one title within two academic years)

FIN 9000 Research in Finance: 1-13 hours.

Hours and credits to be arranged

FIN 9213 Advanced Financial Management: 3 hours.

(Prerequisites: FIN 8113 or the equivalent). Three hours lecture. A study of the theory and application of valuation, risk return analysis, capital budgeting decisions, and capital structure. Analysis of how these decisions affect firm value

FIN 9223 Seminar in Corporate Financial Theory: 3 hours.

(Prerequisites: FIN 8113 or the equivalent). Three hours seminar. Analyses of financial management cases involving working capital, financial analyses, valuation concepts, risk and return, capital budgeting, cost of capital, and financial planning

FIN 9233 Seminar in Corporate Finance: 3 hours.

(Prerequisites: FIN 8113 or the equivalent.) Doctoral seminar. Analysis and discussion of the literature dealing with topics in corporate finance. Also, students prepare and present research projects

FIN 9423 Investment and Portfolio Theory: 3 hours.

(Prerequisites: Fin 8113 or the equivalent). Three hours lecture. The application of contemporary investment theory for decision-making purposes in portfolio management, and the formulation of portfolio policies for different types of investors

FIN 9433 Seminar in Portfolio Theory: 3 hours.

(Prerequisites: FIN 8423 or equivalent). Doctoral seminar. Analysis and discussion of the literature dealing with topics in portfolio theory and management. Also students prepare and present research projects. mean-variance concept, option pricing and arbitrage pricing

FIN 9733 Seminar in Financial Markets and Institutions: 3 hours.

(Prerequisites: FIN 8733 or the equivalent.) Doctoral seminar. Analysis and discussion of the literature dealing with topics in financial markets and institutions. Students prepare and present research projects

Insurance

INS 6503 Enterprise Risk Management: 3 hours.

(Prerequisites: INS 3103 ). Three hours lecture. A study of the principles, concepts and techniques to manage pure risk exposures which organizations face while pursuing their objectives

INS 6990 Special Topics in Risk Management and Insurance: 1-9 hours.

Credit and title to be arranged. This course is to be used on a limited basis to offer developing subject matter areas not covered in existing courses. (Courses limited to two offerings under one title within two academic years)

INS 7000 Directed Individual Study in Insurance, Risk Management, and Financial Planning: 1-6 hours.

Hours and credits to be arranged

INS 8113 Insurance Education: 3 hours.

(Prerequisite: Consent of Instructor). Three hours lecture. Examination of insurance principles for high school teachers. Coverage will include a broad array of related topics to help prepare teachers for the classroom

INS 8990 Special Topics in Risk Management and Insurance: 1-9 hours.

Credit and title to be arranged. This course is to be used on a limited basis to offer developing subject matter areas not covered in existing courses. (Courses limited to two offerings under one title within two academic years)

International Business

IB 6103 International Business: 3 hours.

(Prerequisite: Senior or graduate standing in business or consent of instructor.) An overview of the major forms of international business: Exports and imports, overseas investments, production and marketing operations, licensing, financing and other international business services

IB 6990 Special Topics in International Business: 1-9 hours.

Credit and title to be arranged. This course is to be used on a limited basis to offer developing subject matter areas not covered in existing courses. (Courses limited to two offerings under one title within two academic years)

IB 7000 Directed Individual Study in International Business: 1-6 hours.

Hours and credits to be arranged

IB 8990 Special Topics in International Business: 1-9 hours.

Credit and title to be arranged. This course is to be used on a limited basis to offer developing subject matter areas not covered in existing courses. (Courses limited to two offerings under one title within two academic years)

Real Estate Finance

REF 6333 Real Estate Law: 3 hours.

(Prerequisite: BL 2413 or consent of instructor). Three hours lecture. The legal principles applicable to real estate, including types of ownership and interests, mortgages, restrictions, and regulations. (Same as BL 4333/6333)

REF 6990 Special Topics in Real Estate Finance: 1-9 hours.

Credit and title to be arranged. This course is to be used on a limited basis to offer developing subject matter areas not covered in existing courses. (Courses limited to two offerings under one title within two academic years)

REF 7000 Directed Individual Study in Real Estate Finance: 1-6 hours.

Hours and credits to be arranged with Instructor