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Global Financial Institutions
The Global Financial Institutions Concentration (GFIC) will expose students to the workings of global financial markets, their key institutional features and the theoretical underpinnings of their design. Students will learn about the structure and operation of U.S. and world financial institutions such as the IMF, the World Bank, private financial firms and central banks around the world, as well as related financial regulations. Students will also gain an understanding of different types of financial securities as well as their relative advantages and disadvantages.
The GFIC comprises a sequence of six courses and a combination of internships and workshops to develop appropriate computer skills. Students typically complete the requirements of the GFIC in three years.
The concentration accepts up to 15 students annually. You are encouraged to declare the Global Financial Institutions Concentration during your sophomore year. Students with a demonstrated interest in the application of their academic discipline to the financial sector are encouraged to contact the Concentration Director.
Some students may choose to pursue the concentration in addition to a second major or a minor. This would occur when the concentration serves to logically unify and reinforce a particular program of study. Such decisions should be made in consultation with the your adviser, and must be approved by the Global Financial Institutions Concentration Advisory Committee.
GFX 100: Introduction to Global Financial Markets
This eight-week lecture series is offered each fall. GFX100 provides an overview of the financial system and the role of financial institutions in the global economy; domestic and international regulation; domestic and international banking. Faculty and guest lecturers also reflect on contemporary developments and challenges within their fields.
1 credit, S/U only.
Mahnaz Mahdavi (Economics)
Required Elective Course
All concentrators are required to take ACC 223: Financial Accounting (offered every spring).
Other Electives
Students are required to take three other electives drawn from at least two different departments. Students can select from the approved list of Smith and Five College courses detailed below, one of which must be a Smith Economics course.
No more than two elective courses that fulfill the requirements for a student’s major and one from a student’s minor will be counted toward fulfillment of the concentration.
Concentrators may choose to focus on a specific region (Africa, Asia, Europe or the Americas) by selecting courses on that region and doing research in their capstone seminar related to the region. Concentrators focusing on a region are strongly urged to study a language spoken in that region. Language courses will not be counted towards fulfillment of the concentration.
Smith College Electives |
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Anthropology
Computer Science
East Asian Studies
Economics
Government
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History
Mathematics
Middle East Studies
Philosophy
Public Policy
Sociology
Statistical and Data Science
Study of Women and Gender
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Five College Electives |
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Amherst College
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Mount Holyoke College
UMass
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*Recommended for regional focus
**Only one statistics course will be counted towards the Global Financial Institutions Concentration
Students fulfill the capstone requirement for the concentration by taking one seminar selected from the list of approved seminars (see below). Such seminars are drawn from disciplines in which global finance research is already featured, such as economics, government and public policy. Concentrators must gain approval for their seminar paper topic from the concentration director and present their research during the annual Celebrating Collaborations event in April.
Approved Capstone Courses
- ECO 311: Topics in Economic Development: The Economic Development of India
- ECO 314: Industrial Organization and Antitrust Policy
- ECO 324: Economics of the Environment and Natural Resources
- ECO 375: The Theory and Practice of Central Banking
- ECO 396: International Financial Markets
- ENV 323: Climate and Energy Policy
- CSC 325: Responsible Computing
- GOV 343: Corruption and Global Governance
- PRS 318: Religion of the Marketplace: A Demystification
- SDS 390: Topics in Statistical and Data Science: Advanced Programming for Data Science
- SOC 333: Social Justice, the Environment, and the Corporation
Practical Experiences
This two-day workshop series is offered each fall by the Conway Innovation & Entrepreneurship Center and is specifically designed to get students up to speed using the basics of Excel. The aim is to teach students the basics so that in a work environment they are able to learn more building blocks for advanced concepts in software programs such as Dummy Dependent Variable, Histogram, Regression and Monte Carlo Simulation. Students must attend both full days in order to fulfill one experiential learning requirement.
This intensive workshop, offered each September, is led by former investment bankers with applied expertise in financial and valuation modeling methodologies and bridges the gap between academics and the real world to equip students with the hands-on practical financial skills that they will need to excel during the recruiting process and on the job. Contact the Lazarus Center for Career Development for additional information.
Students are required to complete at least one summer internship (approved 10-week programs) prior to the senior year; Praxis may be used to fund one of these opportunities. The Global Financial Institutions Concentration director, in collaboration with the Lazarus Center for Career Development, can assist with identifying relevant internships.
First-year students are strongly encouraged to use their first summer to gain work experience designed to develop required professional skills including technology, programming and market-related communication.
In order to enhance knowledge of financial markets and language, concentrators are required to participate in one of the following approved activities and are strongly encouraged to participate in more than one.
- Smith College Investment Club (maintain active membership status)
- Conway Center lunchtime series Principles of Investing (offered each spring)
- Lazarus Center Finance Resume and Cover Letters workshop (check dates on Handshake)
- Lazarus Center Mock Finance Interview Day (check dates on Handshake)
Advisory Committee
Advising Checklist
Concentrators are required to submit a completed Global Financial Institutions Concentration Checklist, signed by your GFIC adviser, indicating that you have completed all of the concentration requirements. Completed advising checklist forms are due in the registrar’s office no later than the end of the first week of your final semester at Smith.
Practical Experiences
The Practical Experience Pre-Approval Form must be completed and signed by your GFIC adviser prior to completing your practical experience. Only one learning experience (Wall Street Prep or Excel with Excel) may be counted toward fulfillment of GFIC requirements.
The appropriate form must be signed and submitted as soon as possible after completing your practical experiences.