Econ Concentations – Finance – Risk and Portfolio/Wealth Management

Investors in a market economy strive to maximize returns while sharing risks efficiently. This concentration is intended to prepare students for a wide range of careers in which they will be faced with the challenge of advising or managing investment portfolios. Such careers include positions in the rapidly growing asset management industry and/or careers as wealth management advisors. A student graduating from this concentration should be able to understand the basics of portfolio management and the full set of macroeconomic forces that drive the risks investors face.

Prerequisites: In addition to the full set of Lower Division requirements for the Economics or Business Economics Major, a student in this concentration must also take Economics 101, 102, and 103/103L.

Upper Division Electives: A student completing this concentration must complete four courses from the following list:

Econ 106M (Financial Markets and Institutions) Various

Econ 106V (Investments: Portfolio Theory) Pierre Olivier Weill

Econ 141 (Mathematical Finance) Patrick Convery

Econ 144 (Economic Forecasting) Randall Rojas

Econ 160 (Money and Banking) various

Econ 161 (Monetary Theory) various

Econ 122 (International Finance) Ariel Burstein

Math 174A (Financial Economics for Actuarial Students) various

Econ 187 (History of Financial Crises) Andy Atkeson and William Simon

Associated Bruin Development Academies to be shared by the two concentrations in finance:

– Financial modeling with Excel

– Valuation

Associated Internship Programs to be shared by the two concentrations in finance:

– Sharpe Fellows

– Simon Fellows

Associated Support for Faculty and Graduate Student Research:

The application of academic theory has transformed the asset management industry over the past several decades. At the same time, turbulence in financial markets has exposed the difficulties of applying this theory in a constantly evolving world. Both UCLA Economics and UCLA Anderson have been building strong groups of young scholars in macroeconomics and finance. One particularly exciting initiative is to strengthen the collaboration between the Ph.D. programs in Economics and in Finance at Anderson as is done in joint programs between the University of Chicago Economics Department and Chicago Booth. Support for faculty and graduate student research will help make UCLA a top center of new research in financial markets, asset pricing, and their interaction with the broader macroeconomy.