Economics, Finance, and Legal Studies

Majors

• Economics
  • Economics majors are well versed in math, acting as exceptional logical thinkers interested in human systems. A degree in Economics takes Culverhouse graduates from the classroom to the boardroom with excellent preparation for those interested in various fields.
  • Culverhouse students working toward an undergraduate degree in Economics must select either a specialization or an additional major. Economics may be the only major for students whose interests go beyond a single area.
  • View Course Requirements
• Finance
  • Careers in Finance allow graduates to choose which of today’s market sectors will define tomorrow’s economies. The undergraduate Finance program offers courses designed to develop students’ analytical skills and abilities. Undergraduate students seeking a degree in Finance must select an additional major or specialization.
  • Culverhouse graduates who complete a bachelor’s degree in Finance enjoy careers in banking, financial services, corporate Finance, investment management, real estate, insurance, enterprise risk management, consulting, and the public sector.
  • View Course Requirements

Actuarial Science

• Actuarial Science is perennially ranked among the top ten career choices and is an excellent option for students with future-oriented minds and a strong aptitude for mathematics and statistics. As an actuary, you will join an elite group that estimates the probability of future events, develops ideas for coping with unexpected losses, and helps shape how society deals with risk. The Actuarial Science minor offers a wide variety of career paths consistent with many attractive lifestyles. In addition, students who minor in this subject receive a solid foundation for passing professional examinations required to become an actuary.
• Visit the Risk Management, Insurance and Actuarial Science website for more info about this minor.
• View Minor Requirements in Catalog

Economics

• The Economics minor is intended for students who have a strong interest in rigorous economics and want to acquire problem-solving skills and develop a logical way of analyzing various social problems. The minor is especially valuable for students in business administration preparing for an MBA or in engineering and the natural and physical sciences and students considering graduate work in law and public policy. The minor is also attractive to students who wish to broaden their education and better understand the forces that shape the modern world. The Economics minor includes microeconomics, macroeconomics, economic policy, and econometrics coursework. The Department of Economics, Finance, and Legal Studies offer a broad range of economic courses with a flexible minor requirement so the students can choose to take classes that match their academic ability, interests, and career goals.
• This minor is not available to students pursuing majors in Economics or Finance.
• View Minor Requirements in Catalog

Finance

• The Finance minor is intended for students who have an interest in developing a strong foundation in financial decision-making by offering courses designed to develop the student’s analytical skills and financial problem solving abilities. Such skills can broaden a students career opportunities, as most business decisions are financially based. These same skills are also important when making personal investment decisions, regardless of career.  The minor  is especially valuable for students preparing for an MBA, or in engineering and the natural and physical sciences, as well as students considering graduate work in business.   A Finance minor helps prepare students to apply their major degree to fields such as banking, financial services, corporate finance, investment management, real estate, insurance enterprise risk management and consulting.
• This minor is not available to students pursuing majors in Economics or Finance.
• View Minor Requirements in Catalog

Personal Wealth Management

• The Personal Wealth Management minor qualifies students to sit for the Certified Financial Planner™ exam. The course selection extensively covers all aspects of personal finance, including investments, estate planning, taxation, risk management and insurance, employee benefits, and retirement planning. Graduates with the Personal Wealth Management minor often land careers working in or with securities firms, bank trust departments, mutual funds, insurance companies, investment advisory firms, financial planning firms, and pension and accounting firms. Students with this minor will gain extensive knowledge of all areas of personal finance and wealth management.
• Students will need to complete FI 414 Investments to sit for the Certified Financial Planner™ exam.
• View Minor Requirements in Catalog

Real Estate

• The Real Estate minor continues The University of Alabama’s real estate legacy that began over 80 years ago. Designed to provide students with a background in real estate fundamentals and decision making, the Real Estate minor combines many academic disciplines, including economics, finance, sales, management, and law. In addition, students have a unique opportunity to be eligible to take the Alabama Real Estate Salesperson License exam after completing two real estate courses. Additionally, a Real Estate Minor qualifies graduates for the Institute of Real Estate Management’s Certified Property Manager (CPM) fast track program. Another benefit to students is the Alabama Center for Real Estate’s (ACRE) Collegiate Career Assistance Program (CCAP). Within the Culverhouse College of Business, CCAP provides student support and resources for professional development and real estate internship/employment opportunities.
• View Minor Requirements in Catalog
• Contact your academic advisor to discuss adding the Real Estate Minor.
• Real Estate is also available as a focus for MBA and Master’s of Science in Finance students.

Risk Management, Insurance, and Financial Services

• Risk complicates business and life. Every day companies and individuals confront catastrophic risks emanating from natural disasters, lawsuits, fire, and many other sources. Students in the Risk Management, Insurance, and Financial Services minor learn to identify and manage risks. They are trained for careers in the insurance and financial services industries, as professional risk managers, and as knowledgeable consumers as they navigate the risks in their own lives. Culverhouse has been designated a Global Center of Insurance Excellence, ranking among the top schools globally for students seeking a risk management career.
• Visit the Risk Management, Insurance and Actuarial Science website for more info about this minor.
• View Minor Requirements in Catalog
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Economics Major

• Econometrics
  • Econometrics connects many academic disciplines such as mathematics, statistics, economics, finance, and business studies. It is primarily concerned with the science and art of using economics theory and statistical techniques to analyze economic data. The Econometrics and Quantitative Economics concentration provides students with quantitative economics reasoning. It prepares them for analytical positions in industry and government, as well as to enter a graduate program of studies. Students will learn how to use econometrics to understand consumer behavior, markets, and industries. In addition, students will learn how to use game theory and experimental methods commonly used in psychology to understand individual and interactive decision-making.
  • The Econometrics and Quantitative Economics concentration is restricted to Economics majors only.
• Economic Policy 
  • The Economic Policy concentration provides students with a broad set of competencies and a broad range of applications of economics theory, focusing on evaluating economic policies and measuring the success or failure of government programs. Students can choose courses that will help them explore various areas, including law, trade, competition, monetary, environment, healthcare, labor, and development. Students will be prepared for careers in industry and government, as well as graduate studies in law, business, and public policy.
  • The Economic Policy concentration is restricted to Economics majors only.

Finance Major

• Banking and Financial Services
  • The Banking and Financial Services concentration provides undergraduate students with a background in the institutional and regulatory environment and management issues facing financial institutions. Students will learn the fundamental theories of financial intermediation and will be able to distinguish the various services financial institutions provide. Students will also learn how to identify and analyze the different types of risks faced by financial institutions (focusing on interest rate risk, market risk, liquidity risk, and credit risk). Theories and techniques available for measuring and managing these risks will be studied. The sequence of courses aims to develop a knowledge of banking and financial services to prepare the students for entry-level positions within the financial services sector.
  • The Banking and Financial Services concentration is restricted to Finance majors only.
• Financial Engineering
  • The Financial Engineering concentration equips students with the knowledge, skills, and abilities necessary to measure and manage various market risks, including foreign exchange, interest rate, equity price, commodity price, as well as many others. Students in this concentration will learn state-of-the-art quantitative techniques for efficiently and effectively managing market risks. With these capabilities, students will be able to contribute to the optimal management of a host of entities, including global corporations, municipalities, pension funds, and endowments, among others.
  • The Financial Engineering concentration is restricted to Finance majors only.
• Value Investing
  • The Value Investing concentration provides students with a strong foundation for examining the critical aspects of investment decisions, including generating good ideas, conducting fundamental business and industry research, analyzing financial statements, and credibly estimating what businesses and companies are worth. The focus is on practical applications. Students will be prepared for various business careers, including investment management, investment banking, private equity, management consulting, corporate business development, corporate finance, and entrepreneurship.
  • The Value Investing concentration is restricted to Finance majors only.

Quantitative Finance

The curriculum for quantitative finance contains all the core finance classes plus basic engineering math classes. This is an excellent major for those with a solid quantitative background who wish to study finance. In addition, it is excellent training for graduate school and some of the more technical areas of employment in finance.

Quantitative Economics

Our regular economics program is quite flexible and can accommodate students who plan to take the regular math classes; however, we advise all students to take as much math as possible. Taking more math classes expands your opportunity for additional work in economics. In addition, the quantitative economics curriculum incorporates the math requirements that the faculty believe are necessary for students who want to pursue a Ph.D. in economics.

Double major in Finance and Math

This course of study is very similar to the Quantitative Finance major. However, this option requires a few additional math classes that permit students to receive both majors. Graduates in these majors have a wide range of graduate study and employment opportunities.

Double major in Economics and Math

Students interested in studying math often look to apply their study to the “real world,” and economics is an excellent venue for those applications. Likewise, advanced study in economics usually requires rigorous training in math. This degree satisfies both of those needs and is outstanding preparation for those who plan to pursue a Ph.D. in economics.

The Accelerated Master’s Program

The Accelerated Master’s program allows the department to identify students with outstanding potential at an early stage of their undergraduate degree. Such students are invited into a program that leads to both the undergraduate degree in Finance or Economics and a Master’s degree (MS Finance/MA Economics/ MS Statistics), usually within 4 years of starting the Undergraduate program.

• The University of Alabama has a proud heritage of teaching Risk Management and Insurance, having offered our first insurance course 100 years ago. In keeping with the accreditation requirements of AACSB International and the Southern Association of Colleges and Schools, all students in the University’s Culverhouse College of Business take a diverse curriculum of Arts, Sciences, and Humanities as a broad spectrum of business courses. Our minors pair well with various majors, and we will work with you to establish a curriculum tailored to your goals. Beyond the classroom, our students attend a speaker series organized by our student organization (AIS), travel to conferences, engage in summer internships, participate in our annual Insurance Day (I-Day), and benefit from our extensive network of alums.

Read More About This Program

The Department of Economics, Finance, and Legal Studies offers graduate programs in Economics and Finance at both Masters and Ph.D. levels.

Students wishing to apply for our MSF, MAE, and Ph.D. tracks are encouraged to read the Economics and Finance Graduate Program Guides, which cover the finer details of graduate study in the department.

Economics Masters

Economics PhD

Finance Masters

Finance PhD