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D 9276-9279



DOCUMENTS OF THE GENERAL FACULTY


PROPOSED CHANGES TO THE FINANCE DEGREE PROGRAM IN THE MCCOMBS SCHOOL OF BUSINESS CHAPTER IN THE UNDERGRADUATE CATALOG, 2012-2014

Dean Thomas Gilligan of the McCombs School of Business has filed with the secretary of the Faculty Council the following changes to the McCombs School of Business Chapter in the Undergraduate Catalog, 2012-2014. The faculty and the dean of the college approved the changes on September 23, 2011. The secretary has classified this proposal as legislation of exclusive application and of primary interest only to a single college or school.

The Committee on Undergraduate Degree Program Review recommended approval of the change on October 12, 2011, and forwarded the proposed changes to the Office of the General Faculty. The Faculty Council has the authority to approve this legislation on behalf of the General Faculty. The authority to grant final approval on this legislation resides with UT System.

If no objection is filed with the Office of the General Faculty by the date specified below, the legislation will be held to have been approved by the Faculty Council. If an objection is filed within the prescribed period, the legislation will be presented to the Faculty Council at its next meeting. The objection, with reasons, must be signed by a member of the Faculty Council.

To be counted, a protest must be received in the Office of the General Faculty by December 8, 2011.


Greninger Signature

Sue Alexander Greninger, Secretary
General Faculty and Faculty Council


This legislation was posted on the Faculty Council website http://www.utexas.edu/faculty/council/ on December 1, 2011.


PROPOSED CHANGES TO THE FINANCE DEGREE PROGRAM IN THE MCCOMBS SCHOOL OF BUSINESS CHAPTER IN THE UNDERGRADUATE CATALOG, 2012-2014

NAME OF DEGREE PROGRAM(S):
  Finance


IF THE ANSWER TO ANY OF THE FOLLOWING QUESTIONS IS YES, THE COLLEGE MUST CONSULT NEAL ARMSTRONG WHO WILL DETERMINE WHETHER SACS-COC APPROVAL IS NEEDED.:
• Is this a new degree program? No
• Does the program offer courses that will be taught off campus? No
• Will courses in this program be delivered electronically? No

EXPLAIN CHANGE TO DEGREE PROGRAM:
  1. The first change is an editorial change that regroups the ordering of the requirements but does not change them. Because it pertains to all track options, ACC 326 has been moved from the individual tracks to requirement

2. A track may not allow credit for both FIN 374C and FIN 374S.

a. Energy Finance: FIN 374C is required, therefore FIN 374S may not satisfy elective requirements for the track. It is being removed from the list enumerated in requirement 2 for the track.

b. Investment Management, Financial Markets/Banking, General Finance: students may select either course but not both to satisfy elective requirements for these tracks.

3. A track may not allow credit for both FIN 354 and FIN 371M.

a. Financial Markets/Banking: Students must take either FIN 354 or FIN 371M as a required track for the courses, but they may no longer take the other to satisfy elective requirements for the track. The choice is being removed from the list enumerated in requirement 2 for the track.

b. General Finance: students may select either course but not both to satisfy elective requirements for these tracks.

4. A maximum of one independent study course may be counted toward the elective requirements for the finance major with the exception of the General Finance and the Real Estate tracks.

5. The list of courses that satisfy requirement 6 under the Quantitative Finance track is being expanded to include FIN 366P. At the same time it is being removed from the list in requirement 5 to make clear that a student may not count the same course toward two requirements.

Indicate pages in the Undergraduate Catalog where changes will be made.

 

Pages 60-61


GIVE A DETAILED RATIONALE FOR CHANGE(S):

  1. This change is for the sake of greater clarity.

2. While the focus and approach to application is very different between these courses, there is sufficient overlap in theory that a student’s financial education would be better served by choosing an alternative elective.

3. There is some overlap in course content such that a student’s financial education would be better served by choosing an alternative elective. In the future only FIN 371 will be offered.

4a. General Finance: Students in this track opt for a broad approach to their financial education. As such they would not have the depth of background expected to undertake an independent study.

4b. Real Estate: Real Estate is a branch of finance. It is important for students choosing this track to have a strong background in the core discipline. The Department maintains this goal is best achieved through structured electives, as this track includes fewer finance courses.

5. As currently written, the requirements for the Quantitative Finance track would preclude students admitted to the highly selective Financial Analyst Program from counting both courses in the program, FIN 366P and FIN 377 (Topic 3: Security Analysis). The Department endorses FIN 366P as an appropriate course to satisfy requirement 6 and proposes to add the course to the list of classes enumerated there. At the same time FIN 366P is being removed from the list in requirement 5 to make clear that a student may not count the same course toward two separate requirements.

SCOPE OF THE PROPOSED CHANGE(S):
Does this proposal impact other colleges/schools? If yes, then how?
 

No


If yes, impacted schools must be contacted and their response(s) included:
 

 


Does this proposal involve changes to the core curriculum or other basic education requirements (42-hour core, signature courses, flags)?

  No

If yes, explain:
 

 


Will this proposal change the number of required hours for degree completion? If yes, please explain.
  No

If yes, explain:
 

 



COLLEGE/SCHOOL APPROVAL PROCESS:
Department:
Yes
Date: September 9, 2011
College:
Yes
Date: September 23, 2011
Dean:
Yes
Date: September 23, 2011

To view the edited version of the catalog changes click the PDF link at the beginning of this document.