Welcome from the Finance and Economics Department Chair and Program Chairs
Aron Gottesman, Department Chair, PhD, York University
P.V. Viswanath, Graduate Program Chair, PhD, University of Chicago
Natalia Gershun, Undergraduate Program Chair, PhD, Fordham University, 1985
Carmen Urma, Coordinator
The Department of Finance prepares graduates for rewarding careers in areas of financial management and decision-making by providing solid theoretical and practical knowledge. Areas of graduate employment include corporate finance, investments, financial institutions, and financial services like brokerage and banking.
The academic mission of the department is to actively engage students in their own learning through problem-based casework and participation in real-world business laboratories. Examples of such exposure to the real world are the internships that students can serve in the financial community, as well as courses built around the Student Managed Investment Portfolio Fund. We also counsel students for further graduate training such as the doctoral programs offered at Lubin, as well as professional designations, such as Chartered Financial Analyst (CFA) and Certified Financial Planners (CFP).
Several of Lubin's finance programs have received prestigious recognition from the CFA Institute and the Global Association of Risk Professionals (GARP). This is reflective of the outstanding quality of our finance programs.
A sampling of recent internships includes Citibank, Goldman Sachs, J.P. Morgan Chase, Merrill Lynch, Morgan Stanley, Dean Witter, and various New York City governmental departments.
Our Student Managed Investment Portfolio Fund began investing on January 24, 2002. We are one of a select number colleges using this experiential learning program to foster knowledge of the securities markets and provide students with real world decision-making challenges. To date over 500 students have participated in the program. Starting with an initial endowment of $200,000, the students have increased the fund's assets by $165,000 in just over 11 years. Profits have gone to create a Lubin Scholarship fund ($12,000), among other things. In April of 2011, the Student Managed Investment Portfolio Fund finished second in our category at the GAME Forum investment competition, held each year under the auspices of Quinnipiac University. In the most recent fiscal year, the PACE SMIP gained 24.74% compared to 16.06%, 13.13% and 17.05% for the S&P 500, the Dow-Jones Industrial Average, and the NASDAQ Composite.
The goal of the Global Portfolio Analysis Center is to expose students to real-world processes primarily by providing financial data and other information for the use of students and facilitating their use by faculty in the Lubin curriculum. In addition, faculty use the resources of the Center to work with students who participate in area-wide collegiate competitions. Lubin has fielded a team in the Investment Research Challenge, sponsored by the New York Society of Security Analysts—our team won in the competition's first year and has placed well since then.
In recent years, our finance students have earned the highest academic standings within Lubin School of Business. Additionally, the Lubin Outstanding Student of the Year prize has gone to a finance student for the previous several years. Our students have also been recognized internationally as Fulbright Scholars. Our alumni have achieved noteworthy accomplishments. Many have gone on to Ph.D. programs, law schools, and business schools at the finest universities, such as Columbia University and the University of Pennsylvania (Wharton). Others have selected professional careers and achieved leadership positions in business.
The department sponsors student organizations such as the Honor Society in Economics (Omicron Delta Epsilon) and the Finance Club.
Our faculty are dedicated to ensuring that students graduate with a winning portfolio of knowledge and skills. Our curriculum is kept current and our students are exposed to state-of-the-art technology. Furthermore, we emphasize faculty/student collaborative research, which is presented at conferences and published. We offer BS, MS, and MBA degrees in Finance. Our undergraduate programs are offered at both the New York City and Pleasantville campuses; our graduate programs can be pursued at the New York City Campus
Our faculty has published extensively in top finance journals, including Review of Financial Studies, Journal of Empirical Finance, Journal of Financial Intermediation, Journal of International Money and Finance, Journal of Economic Theory, The Journal of Finance, The Journal of Business, The Journal of Banking and Finance, The Journal of Corporate Finance, The Journal of Financial Markets, The Financial Analysts Journal, The Journal of Law and Economics, The Economic Journal, Financial Management, The Journal of Futures Markets, The Journal of Applied Corporate Finance, Journal of Financial and Quantitative Analysis, The Review of Economics and Statistics, and Journal of Money, Credit and Banking.
Most of the books published by our faculty have become best sellers and have been translated into foreign languages, and many articles receive citations in the popular press as well as in scholarly publications. Also, some of our faculty write regular monthly columns for various publications.