Senior Options, page 2
School of Business Administration

Business Economics Option

This option is attractive to students interested in applied economics, policy analysis, business and finance, and law and to those stuents who want a career in corporate planning or economic consulting. The option emphasizes the economic and legal underpinnings of today's businesses and the development and application of computer-based econometric and forecasting models.

Suggested courses for this option
FBE 324The Financial System4
FBE 402Government and Business4
FBE 416Managerial Economics4
FBE 425Management of Financial Institutions4
FBE 443Introduction to Forecasting4

Select at least two from the courses listed above and two additional FBE courses.

Finance Option

The finance option prepares students for careers in financial management as corporate treasurers, financial analysts, money managers, and commercial and investment bankers. The required courses in the finance concentration apply to the central principles of finance - net present value, market efficiency, agency costs, incremental cash flow, information asymmetries, adverse selection, arbitrage, modern portfolio theory, capital asset pricing, option pricing, and sustainable growth - to better understand the practice of finance in financial and non-financial firms. Topics covered include the valuation of securities, portfolio management, the choice of debt versus equity, dividend policy, the analysis of investment projects, mergers and acquisitions, financial restructuring, management of working capital, and financial analysis.

Suggested courses for this option
FBE 421Financial Analysis and Valuation4
FBE 431Financial Policies and Corporate Control4
FBE 440Trading and Exchanges4
FBE 441Management4
FBE 458Law and Finance4

Select at least two from the courses listed above and two additional finance courses.

International Finance and Economics Option

Recent events have demonstrated that international activities strongly influence all areas of the domestic economy. It is important for the student whose career objectives are internationally oriented to be familiar with the impact of the international dimension of financial decision-making. This option provides a background in the international aspects of finance and economics by analyzing international financial markets, trade problems, the multinational corporation and other international operations.

Suggested courses for this option
FBE 436Financial Management of Multinational Corporations4
FBE 462International Trade and Commercial Policy4
FBE 464International Finance4

Select at least two from the courses listed above and two additional finance courses.

Program in Real Estate

The objective of the Program in Real Estate is to provide in-depth exposure to theoretical and practical issues in real estate markets for students already exposed to the core business disciplines including finance, economics, marketing, accounting and decision systems. Sophisticated management techniques are more and more essential for success in the real estate industry. The program is designed to provide the student with the broad framework of business theory and practice necessary to develop good management skills along with the knowledge of real estate institutions, relevant urban economic theory and theories of real estate market behavior to allow those students to effectively apply business decision-making skills to real estate problems. Applications areas include, for example, real estate development, finance, investment, marketing, asset management and public policy.

Career Opportunities The real estate industry offers diverse opportunities for students with a business education and knowledge and experience addressing real estate-related issues. A common entry level position for Bachelor of Science graduates is a financial analyst for investment banks, investors, developers and asset managers involved in the real estate industry. Another common position involves using market research skills with real estate investors, consultants, commercial leasing and investment property brokers and home builders. These jobs permit the graduate to develop skills and experience necessary for more senior positions dealing with acquisition or disposition of existing properties, development of new properties, managing existing properties and all aspects of real estate-related transactions including leasing and financing. Many students target careers in real estate valuation and appraisal or commercial brokerage. Courses taken in the program assist graduates in meeting licensing requirements in these areas. Still other students target careers with public agencies involved in real estate asset management, redevelopment or mortgage finance. A bachelor's degree in business is considered essential for many entry level positions in real estate and related industries.

Real Estate Option The study of real estate involves the application of business decision-making tools in the real estate industry. Emphasis is placed on economic and financial analysis of issues in real estate markets including those related to investment and development.

Suggested courses for this option
FBE 365Introduction to Urban Real Estate4
FBE 427Real Estate Law4
FBE 489Real Estate Finance and Investments4

Select one course from the following:
FBE 386Intermediate Financial Management4
FBE 465Real Estate Valuation 4

Real Property Development and Management Option This specialized option is designed for students interested in the real estate development process from site acquisition through market analysis, site planning, development concept preparation, cost estimation, entitlement, financing, economic feasibility and construction management. Graduates are well prepared for entry level positions with home builders and commercial developers. Understanding the development process is also a valuable background for jobs with financial institutions, asset managers and real estate consultants.

Course work includes upper division elective courses in construction engineering and management from the Civil Engineering Department. An internship involves two months of full-time employment with a real estate firm between the junior and senior years. Through this direct involvement with the industry, the student gains first-hand exposure to the wide range of activities which make up the development process.

A maximum of 25 incoming juniors are selected for the program each year. Selection for participation is based on ability to accommodate the sequence of courses, grade point average and demonstrated motivation. Students from the School of Architecture are invited to participate in their senior year to enhance the class's understanding of site planning and design issues. In addition, professionals from many components of the development team provide practical insight to the class through guest lectures. Interested students should seek further information and counseling as early as possible in their course of studies.

Required courses for this option
FBE 365Introduction to Urban Real Estate4
FBE 427Real Estate Law, or
FBE 465Real Estate Valuation4
FBE 466Management of Real Property Development4
FBE 489Real Estate Finance and Investments4

Selected non-business course required
CE 460Construction Engineering3

Select two of the following:
CE 412Contracts and Specifications3
CE 461General Construction Estimating3
CE 462Construction Methods and Equipment3
CE 572Construction Labor Management2

Note: Undergraduates wishing to enroll in graduate courses, numbered 500 and above, for undergraduate credit must secure prior approval.

Optional
GEOL 105LPlanet Earth4
CE 105LSurveying for Civil Engineering2

GEOL 105L may also be used to satisfy a lower division natural science requirement.

Note: Many of the courses in both of the options fulfill some of the course requirements for licensing in real estate brokerage and appraisal in the state of California.

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Produced by the USC Division of Student Affairs, Office of University Publications, May 1, 1995
univpub@stuaff.usc.edu