Department of Finance
The BSc in Finance degree program is designed to develop students’ technical and critical thinking and to provide them with an in-depth understanding of financial theory, analytical financial instruments, and dynamics of financial markets. This major aims at simultaneously imparting all-inclusive functional area knowledge of business firms, for example, management, marketing, accounting and finance. The program prepares students for careers in finance in public, private, as well as non-profit organizations.
The mission of the finance degree program is to provide an educational experience that develops the student’s financial, technical, and critical thinking, communication skills, the ability to integrate both quantitative and qualitative factors into business and finance decisions, and to create and disseminate knowledge concerning value management in each of these fields.
The goals of the program are to:
- Gain deeper insights into the principles and functions of finance.
- Build strands of knowledge related to modern finance for solving business and finance problems.
- Enhance the ability to design financial strategies for improving organizational performance.
- Develop a sound understanding of the dynamic international business environment and its impact on financial strategies.
- Develop the ability to make ethical and professional decisions related to financial management.
- Integrate theory of finance into business dynamics of the Middle East.
- Apply principles of finance in decision making.
- Synthesize strands of knowledge for solving financial problems facing modern organizations.
- Design and implement effective financial strategies for improving financial performance of organizations.
- Critically analyze changing conditions of international environment and their impact on the design and implementation of financial strategies.
- Apply ethics (including Islamic ethics) in financial decision making.
- Measure financial performance against the backdrop of ethical and professional standards.
Apply finance theory and principles in the Middle East situations through case studies and analysis.
Admission & Graduation Requirements
The normal entry requirement for an applicant is the Secondary School Certificate, or an equivalent qualification, with a minimum average grade of 60 percent, & TOEFL certificate with a minimum score of 500.
Students will be awarded the Bachelor of Science in Finance degree upon fulfillment of the following requirements:
- Successful completion of 126 credit hours, which normally takes eight semesters.
- 8weeks of industrial internship (after the completion of 96 credit hours including seven finance core courses).
- A minimum Cumulative Grade Point Average of 2.0
- Business labs
- Statistics labs
- Internet labs
Courses Offered by the Finance Department
(i) 400 396 Fundamentals of Finance (3,0,0,3)
This introductory course discusses in detail basic terms commonly used in finance. Topics covered include functions of financial management, financial analysis and planning, working capital management, the capital budgeting process and long term financing.
1) Pre-requisite: 400 292
(ii) 440 501 Corporate Finance (3,0,0,3)
This course introduces financial issues from the corporate point of view. It includes the concept of net present value (NPV) and valuation of future cash flows. The course extends to the application of NPV in the capital budgeting decisions. The course covers the risk-return concept with the help of CAPM and APT theories. It also highlights long-term financial planning and capital structure decisions.
1) Pre-requisite: 400 396
(iii) 440520 Money and Financial System (3,0,0,3)
This course is designed to introduce basic economic and financial concepts related to money, banking and financial systems. It uses basic economic principles to introduce the structure of financial markets, financial institution management, the foreign exchange markets, the internationalization of financial markets and the role of monetary policy in the economy. This course offers students a balanced picture of the interactions between money, the financial system and the economy.
Pre-requisite: 400 410
(iv) 440 603 Financial Planning and Control (3,0,0,3)
This course provides an understanding of financial statements and the analytical tools available for use in properly managing and adding value to an organization. It focuses on analysis of financial and accounting information and its impact on financial decision-making and profit planning. The course uses some basic applications of statistics in financial planning in order to ensure corporate financial stability.
1) Pre-requisite: 400 396
(v) 440 604 Commercial Banking (3,0,0,3)
This commercial bank management course will equip the students with good grounding in the banking industry by teaching both the theory and practice of commercial banking. It focuses on the dynamic and rapidly changing financial-services industry; it explores modern financial management decision-making and highlights the importance of adapting to change and creating value as the way for financial institutions to succeed. The following areas are explained: introduction to bank management, strategic and financial management and the measurement of bank performance, the portfolio risks of banking and their management, managing the bank lending functions, and capital adequacy in banking institutions.
1) Pre-requisite: 440520
(vi) 440 705 Financial Markets (3,0,0,3)
This course is designed to build an understanding of financial markets, institutions and market participants. The coverage includes various types of financial markets like foreign exchange markets, stock markets, derivative markets and bond markets. The specific topics covered include the determination of interest rates; fixed income securities, mortgages, foreign exchange, futures, options, and money markets; commercial banks, savings banks, and credit unions; insurance companies, securities firms, finance companies, mutual funds, and pension funds. It also studies financial institution and market regulation, past and present banking crises, management and hedging of risk, central banking and monetary policy.
1) Pre-requisite: 400 396 & 440 604
(vii) 440 707 International Finance (3,0,0,3)
This course is designed to introduce an overview of the environment of global finance, the international dimension of corporate finance, balance of payments and exchange market, the international monetary system, political risk, international cash management, international portfolio diversification, foreign direct investment and international and other developmental international financial issues.
1) Pre-requisite: 440 501
(viii) 440 808 Selected Topics in Finance (3,0,0,3)
The primary aim of this course is to offer a more thorough examination of selected topics. The course instructor will select topics keeping in view topics of current interest and the availability of teaching material and resources. The choice of topics is expected to vary from semester to semester. In general, the course caters for specific issues, topics and recent developments in financial thought and practice that are new or controversial in nature and that have not been adequately covered or addressed in other finance courses.
1) Pre-requisite: 400 396
(ix) 440 809 Investments (3,0,0,3)
This course develops advanced analytical and managerial skills in the field of investments. The topics covered include risk and returns, the analysis of different types of securities, basics of portfolio theory, modern investment theory, and portfolio selection and management. The course helps students learn how to make good investment decisions, recognize investment problems and deal with them.
1) Pre-requisite: 440 602
(x) 440 810 Computer Applications in Finance (2,2,0,3)
This course will equip students with the skills required to apply their acquired finance knowledge using computer applications and available software, like EXCEL. The following topics are covered using computers: accounting primer, cash management, financial ratios analysis, break-even analysis, EPS, P/E ratio, taxation, time-value of money, interest/discount rates, capital budgeting, PV, FV, NPV, IRR, loan repayment schedule, dividends, measurement of risk and returns, valuation of securities, cost of capital, credit-scoring models, yield measurement, and advanced models in finance.
1) Pre-requisites: 400 396, 104110
(xi) 440 612 Personal Finance (3,0,0,3)
This personal finance course equips the student with financial knowledge and tools to maximize financial resources over an individual’s lifetime. This course discusses the latest financial planning tools and techniques that enable an individual to achieve his/her financial goals. Financial and personal satisfaction is the result of an organized process referred to as personal money management, which is the focus of this course.
1) Pre-requisite: 400 396
(xii) 440 715 Islamic Banking (3,0,0,3)
This course will equip students with a firm grounding in the banking industry. It teaches the theory and practice of Islamic banking within the backdrop of conventional banking. Focusing on the dynamic and rapidly changing financial services industry, it explores modern financial engineering for financial product development that is Shari’ah-compliant. The following areas are covered; introduction to Islamic economy and Islamic financial system, Islamic financial instruments, the measurement of bank performance, management of Islamic banks’ investment risk, Shari’ah-compliant management of bank financing functions, bank capital (theory, management and regulation), financial innovations, Information technology, and corporate restructuring in the financial services industry.
1) Pre-requisite: 440 604
(xiii) 440 611 Portfolio Management and Theory (3,0,0,3)
This course is designed to introduce an overview of portfolio management, more specifically securities and security analyses, risk and return, environment analyses, company analyses, bond analyses, options, rights, warrants and convertibles, futures, efficient-market theory, portfolio analyses and selection, capital market theory, managed portfolios and performance measurements.
1) Pre-requisite: 440 705
(xiv) 440 602 Financial Risk and Insurance (3,0,0,3)
This course explores various types of corporate and financial risks, analyzes them, and identifies methods to control them. Specific issues covered include risk identification and measurement, risk analysis and management, and relevance of corporate risk management from shareholders’ value point of view. It also deals with the main tool to diffuse risk, i.e., insurance, describing the mechanics of insurance contracts and their pricing, risk pooling and risk diversification, and risk hedging with derivative contracts.
1) Pre-requisite: 440 501
(xv) 400 393 Microeconomics (3,0,0,3)
This course is designed to introduce basic economic concepts related to individual decision-makers in the economy - households, businesses and governments - and how they interact. Meaning, nature and methods of economic study are introduced. Supply, demand and elasticity are used to analyze consumer and firm behaviors in different types of markets. The rationale for various public policies designed to modify the workings of markets is examined.
(xvi) 400 410 Macroeconomics (3,0,0,3)
This course is designed to introduce basic economic concepts related to aggregate economic relationships such as output and income, national income accounting, aggregate supply and aggregate demand, unemployment, inflation, economic growth and development, money and banking, and the international economy. The course emphasizes the main components of aggregate expenditure and determination of equilibrium level of income, in addition to the analysis of the effects of fiscal and monetary policies on the economy. It extends understanding of the ability of governments to influence economic performance.
1) Pre-requisite: 400 393
(xvii) 400 522 Managerial Economics (3,0,0,3)
This course is designed to acquaint students of business administration with the economics of managerial decision-making, paying special attention to the criteria for rational decision making in private business, non-profit institutions and public agencies. The course emphasizes the application of economic theory and the tools of decision science to examine how an organization can achieve its objectives most efficiently. It is an application of economic theory and analysis to the managerial decision-making process.
1) Pre-requisites: 400 393
(xviii) 400 512 Economic Development of GCC (3,0,0,3)
This course is designed to introduce the concepts, measurements and theories of broad-based sustainable development, as well as the relationships between economic development, human development and environment. Students will also become familiar with several theories of development, and the characteristics and the quality of life in GCC countries will be investigated and compared to those of other countries. The focus would be on the causes, problems and challenges associated with the development of GCC countries, such as population structure and localization policies, the feasibility of GCC states integration and the impact of oil and non-oil production on development.
1) Pre-requisite: 400 410
(xix) 410 811, 420 811, 430 811, 440 811 Graduation Project (3,0,0,3)
This course takes the form of a dissertation completed by graduating students in partial fulfillment of BSc in Management, Accounting, Marketing and Finance degree programs. Students choose an appropriate research project, justify it, work out the research methodology, and analyze, synthesize and evaluate information, then communicate significant knowledge and understanding. The proposed research should be related to the program. An academic advisor is assigned to advise the student at various stages of the research project. This course culminates in the preparation of a dissertation by each student. The course is an integral part of the curriculum, designed to train students to undertake scientific research and bridge the gap between theory and practice in management, accounting, marketing or finance.
1) Pre-requisite: 102 credit hours
(xx) 400 516 Supervised Training (3,0,0,3)
After the completion of 96 credit hours, including seven major core courses. The aim of supervised training is to enable students to practice the learnt theories and concepts in a business organization. Students from any business discipline undergo a training period that is closely monitored by an instructor and the manager/supervisor of the organization to ensure that the student cultivates sound professional attitudes and ethics needed in work places.