Economic and Financial Analysis
Earners of this microcredential will demonstrate a mastery of the concepts and tools necessary to conduct economic and financial analysis using cutting-edge tools. This microcredential provides skills in using R statistical programming language with an emphasis on using this powerful system to deal with economic and business data. Students will learn to import data, clean and transform raw data, visualize data, run simple models and apply these tools to conduct their own project in financial analytics, public policy, and other quantitative fields.
Admission requirements for application:
- Matriculation into a Farmingdale State College degree program
- MTH 110: Introductory Statistics; ECO 156 or 157: Principles of Economics (Micro or Macro); and MTH 117 or 129: Pre-Calculus
- Completion of the Microcredential Application on Etrieve
For Non-matriculated students:
- Completion of the non-matriculated student application
- MTH 110: Introductory Statistics; ECO 156 or 157: Principles of Economics (Micro or Macro); and MTH 117 or 129: Pre-Calculus; OR Approval from Department Chair.
- Completion of the Microcredential Application on Etrieve (Instructions will be emailed after completing the non-matriculated student application)
Requirements to earn the microcredential:
To achieve the Economic and Financial Analysis microcredential, participants will need to be enrolled at FSC and successfully complete a three-course sequence (ECO 365: R for Economics, ECO 380: Econometrics, and one ECO elective listed in the Coursework section) with a C or better.
Time to complete:
3 semesters
Cost to attend:
Standard tuition rates apply. For tuition and student consumer information, please click here.
Students meeting eligibility requirements may be eligible for Part-Time TAP for Non-Degree Credentials up to 11 credits per semester at SUNY. For more information, please click here.
Contact Information
Applied Economics
Business Building, 204
934-420-5260
economics@farmingdale.edu
Students must complete the following courses:
| Required Coursework | (2 courses, 6 credits) |
|---|---|
| ECO 365: R for Economics | 3 credits |
| ECO 380: Econometrics | 3 credits |
| Elective Coursework (Choose one) | (1 course, 3 credits) |
| ECO 255: Money and Banking | 3 credits |
| ECO 262: Managerial Economics | 3 credits |
| ECO 321: Engineering Economics | 3 credits |
| ECO 341: International Finance | 3 credits |
| ECO 372: Economics of Games and Strategy with Business Applications | 3 credits |
| ECO 342: Financial Economics | 3 credits |
| ECO 410: Public Finance | 3 credits |
| ECO 480: Forecasting | 3 credits |
ECO 365 R for Economics
This class introduces students to the R statistical programming language with an emphasis on using this powerful system to deal with economic and business data. This class is intended for students with little to no programming background. Over the semester students will learn to import data, clean and transform raw data, visualize data, run simple models and finally apply these tools to conduct their own project. Prerequisite(s): ECO 156 or ECO 157 with a grade of C or higher
ECO 380 Econometrics
Students will learn and apply statistical methods used in empirical economic analysis. The course will cover the following topics: the fundamentals of probability and statistics, hypothesis testing, multivariate linear regression using Ordinary Least Squares (OLS), the statistical properties of OLS under less than ideal circumstances, the use of dummy variables, and specification analysis. Prerequisite(s): (MTH 110 or BUS 240 or MTH 341) and (ECO 156 or ECO 157) and (MTH 116 or MTH 117 or MTH 129) and Junior level status.
ECO 255 Money and Banking
A description of American central banking, the structure and development of commercial banks and non-bank financial intermediaries, the nation's money and capital markets, bank regulation and supervision, monetary theory and its policy implications, and the operation of the system in international payments. Prerequisite(s): ECO 156
ECO 262 Managerial Economics
This course introduces students to the use of economic methods for managerial decision-making. The focus of the course is on the practical application of economic techniques to business problems, including: the theory of the firm, demand estimation, production functions, cost estimation, market structure, pricing strategy, and game theory. Note: Students completing this course may not receive credit for ECO 260 Prerequisite(s): ECO 157 and (MTH 117 or 129)
ECO 321 Engineering Economics
This course will provide students with a basic understanding of the economic aspects of engineering in terms of the evaluation of engineering proposals with respect to their worth and cost. Topics include: introduction to Engineering Economics; interest and interest formulas; equivalence and equivalence calculations; evaluation of replacement alternatives and operational activities; basic fundamentals of cost accounting. Prerequisite(s): Admission to a Tech Program or approval of this Department chair.
ECO 341 International Finance
Second half of a two semester offering to provide theoretical and practical knowledge of international finance, its relationships to financial markets, and the international monetary system as it relates to the U.S. economy. The course work will focus on balance of payments, foreign exchange markets and the international monetary system. Prerequisite(s): ECO 156 or ECO 157
ECO 372 Eco of Games & Strat w Bus App
This course is an overview of strategic interaction presented in the context of game theory. The course will prepare students for analyzing and solving problems where the outcome of an interaction depends directly on the decisions of all the individuals involved. After developing the analytical tools required to understand strategic interactions, students will apply these tools to problems in business management related to marketing, managerial decision-making, business law, pricing strategy, and the dynamics of competition. Prerequisite(s): ECO 157 and (MTH 116 or MTH 117 or MTH 129 or ECO 250) and junior level status
ECO 342 Financial Economics
This course introduces students to the basic mathematical models, techniques and forms of analysis used in financial economic analysis. Topics covered include uncertainty and financial decision-making, mean-variance model of portfolio selection, Black-Scholes option pricing formula, utility functions, computational techniques and stochastic volatility. Prerequisite(s): ECO 156 or ECO 157
ECO 410 Public Finance
This course introduces students to the issues, interactions and inter-relationships arising between the market and government policy-making. Topics covered include: tools of public finance, budget analysis, externalities, political economy, cost-benefit analysis, taxation and policy, social insurance, income distribution and welfare. Prerequisite(s): (ECO 260 or ECO 262) and (ECO 255 or ECO 270)
ECO 480 Forecasting
This course the methodology and applications of econometric forecasting and time series analysis. Topics include linear regression model, stationarity, modeling seasonality, arima models, and volatility. Prerequisite(s): (ECO 380 and 260) or (ECO 262 and 255 or ECO 270)