University at Albany - College of Computing and Information - Department of Informatics Resources for Current Students

Program in Financial Market Regulation

The Academic Program Overview

This Program in Financial Market Regulation is an interdisciplinary program of coursework and internships preparing undergraduate and graduate students for careers in regulation and supervision of the financial markets. It educates students in four essential areas.

the business of financial markets and how regulations affect that business;
the laws of financial market regulation;
public policy of financial market regulation; and
technology of information management and data analysis essential to modern regulation and supervision.

The Undergraduate Academic Program

The University at Albany’s Interdisciplinary Major in Financial Market Regulation provides a unique program, leading to the Bachelor of Science degree, preparing students for professional work in the field or further study in graduate and law school. The Interdisciplinary Minor in Financial Market Regulation introduces students to market regulation, complementing majors such as Accounting, Business, Computer Science, Economics, Political Science, Public Policy and Management, and Sociology. While the major and minor focus on financial market regulation, they provide knowledge applying to diverse areas in the private, public, and nonprofit sectors.

Students in the interdisciplinary major or minor in Financial Market Regulation take a designated series of courses or appropriate substitutes approved by the Academic Program Advisor; the major has 37 credits of coursework and the minor has 22 credits. Students normally will be formally admitted to the major or minor at the end of their sophomore year after having taken the 200-level courses from the lists below. To be admitted to the major or minor, students must have an overall grade point average of 3.2. They also must have completed the 200-level courses in accounting, computer science, information technology, and regulatory policy (B Acc 211, I Csi 201, I Inf 201, and R Pad 236), or appropriate approved substitutes, with an average of B or better. To be admitted to the minor, students must have completed the courses in accounting, computer science, and regulatory policy, or appropriate approved substitutes, with an average of B or better.

Courses for the Interdisciplinary Major in Financial Market Regulation

All undergraduate students in the Interdisciplinary Major in Financial Market Regulation take the following courses or appropriate substitutes approved by the Academic Program Advisor, in consultation with the participating academic units.

Business and Finance

B Acc 211 Financial Accounting (3)

Basic principles of accounting theory and practice, nature of assets and equity; income measurement and statement preparation. Not open to freshmen.

B Fin 300 Financial Management (3)

Introductory course that covers the basic concepts essential to a comprehensive understanding of financial management. Topics to be covered include valuation models, financial statement analysis, operating and financial leverage, capital budgeting, cost of capital, and working capital management. Prerequisite(s): B Acc 211.

B Fin 333 Investment Management (3)

Development of the fundamental approach to the valuation of equity securities. Examines the institutional environment in which investment decisions are made. Reviews the concept of portfolio theory, and contrasting theories of the behavior of equity securities prices. Develops various models for the pricing of common stock and equity derivative instruments. Term project requiring written and oral presentation of a securities analysis. Extensive computer spreadsheet assignments. Prerequisite(s): B Fin 300.

B Fin 375 Money and Capital Markets (3)

Rigorous examination of the U.S. financial system, stressing the importance of financial markets, financial securities, and market participants. Emphasizes the factors that influence the level and structure of interest rates, including monetary policy actions of the Federal Reserve System and financial regulation. Develops models for the pricing and analysis of bonds and various fixed income derivative instruments. Extensive computer spreadsheet assignments. Prerequisite(s): B Fin 300.

Public Policy and Law

R Pad 236 Institutions and Policy in Business Regulation (3)

This course examines the public regulation of business, surveying the field in general but with special attention to regulatory controls in financial markets. Its subjects include the justifications and critiques of government regulation, ethical considerations in regulatory decisions, international dimensions of regulatory policy and management, and how political, legal, and technological processes shape regulation.

R Pad 435 Fundamentals of Securities Law (3) This course examines the history, rationales, and structures of securities laws in the United States, focusing mainly on the federal level but touching on issues pertaining to the states. Topics include public requirements governing the issuance of securities; mandatory public disclosures; legal requirements governing corporate mergers and acquisitions; primary and secondary markets for securities; exemptions from full coverage of laws, the reasons for exemptions, and how technology and market changes have affected these exemptions over time; and the basic structure of securities market regulation.

R Pad 436 Regulation of Securities Markets (3)

This course examines the history, organization, and central issues of securities market regulation in the United States. The course discusses the roles of federal and state regulation, self-regulatory organizations, and firms within the regulatory system. Topics include, but are not limited to, the history and main principles of federal securities statutes; examinations and supervision by different levels of the regulatory system; and the relationships among change in financial markets such as financial innovations and regulatory structure and practice.

Information Management and Analysis

I Csi 201 Introduction to Computer Science (4)

Computer algorithms and their representation. The principle of information hiding and its relation to program block structure. File structure and access methods. The efficient use of computational resources. Program development and style.

I Inf 201 Introduction to Information Technology (3)

This course comprises three skills-based modules: information management (UNIX, directory management and presentation software), web technologies (HTML, digital imaging, file formats and transfer), and networks (protocols, layer model, information security).

B Itm 330 Business Information Systems & Technologies(3) This course offers an introduction to the fundamentals of information systems and information technology in business. It focues on models for modern business processes, integration of business functions, and the tasks and techniques for developing computer-based information systems. Topics such as project planning, time, risk, and resource management in various business applications will be supported by software tools, such as Microsoft Project. Elements of database management, information systems building and prototyping will be introduced using popular end-user software packages such as Access and Excel. Prerequisite(s): A Mat 106 and B Msi 215 or their software equivalents; B Msi 220 or A Mat 108 or A Eco 320. Offered fall and spring. NOTE: I Csi 201 and I Inf 201 will be accepted as substitutes for prerequisites for B Itm 330.

B Itm 331 Business Application Development (3)

This hands-on course includes creating and using relational database software (ACCESS), elements of database theory and modeling, information systems analysis and design. Experience with system building is gained through individual and group projects with integrate database technology with prototyping methodology. Prerequisite(s): BITM 215 or its equivalent, and BITM 330. Offered spring and summer (may not be offered every summer).

Choose One from the Following Two Courses:

B Itm 416 Communication, Networking, and Security (3)

This course provides an introduction to integrative business strategy, practice, and enabling technologies. Topics include telecommunication (concepts, protocols, and hardware), computer networks (client-server, LAN, and OSI), computer security (Security Threats and Vulnerabilities, Network Security, Cryptography, and Privacy), and related emerging technologies.

I Ist 423 Networking Essentials (3)

Covers the fundamentals of computer networking concepts and implementation and the client and server operating systems that run on networked PCs. Special emphasis is placed on network protocols and how they operate at all layers of the networking model. Emphasis also is placed on the interoperability of networks that run on multiple protocols, platforms, and operating systems.

Courses for the Interdisciplinary Minor in Financial Market Regulation

All undergraduate students in the Interdisciplinary Minor in Financial Market Regulation take the following courses or appropriate substitutes approved by the Academic Program Advisor, in consultation with the participating academic units.

Business and Finance

B Acc 211 Financial Accounting (3)

Basic principles of accounting theory and practice, nature of assets and equity; income measurement and statement preparation. Not open to freshmen.

B Fin 300 Financial Management (3)

B Fin 333 Investment Management (3)

B Fin 375 Money and Capital Markets (3)

Public Policy and Law

R Pad 236 Institutions and Policy in Business Regulation (3)

Information Management and Data Analysis

I Csi 201 Introduction to Computer Science (4)

Graduate Academic Program

Graduate and law students in the Program in Financial Market Regulation will take a series of courses in business and finance, law and public policy, and information management and data analysis consistent with the student’s graduate degree programs at Albany Law School and the University at Albany and meeting the goals of the program.

The University at Albany now offers a wide range of graduate courses in finance, computer science, information technology, and public policy and law, including courses focusing specifically on financial markets. These include Fundamentals of Securities Law, Regulation of Securities Markets, and Administrative Law ( Rockefeller College), and Investment Analysis and Portfolio Management, Securities Markets and Financial Institutions, and Financial Statement Fraud and Corporate Governance ( School of Business). Other selected graduate courses in the College of Computing and Information, School of Business, and the Rockefeller College now are including components focusing on financial market issues.

Albany Law School offers numerous courses related to financial market regulation and supervision, including specialized courses in Securities Regulation, Mergers and Acquisitions, Corporate Governance and Finance, Administrative Law, and Accounting for Lawyers. Furthermore, Albany Law School and the University at Albany currently offer joint degree programs; thus, graduate and law students will be able to take courses from both institutions in designing a series of courses preparing them for work in financial market regulation and supervision.

As in the undergraduate major and minor, graduate students are encouraged to seek internships in regulatory organizations or financial or law firms during their studies. Faculty and staff from the University at Albany and Albany Law School work with graduate students to prepare them for these selection processes.

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erma@albany.edu