New Bloomberg terminals offer real-world experiences to students and others in Eastern Michigan University College of Business

Students work on Bloomberg terminals at EMU's College of Business.

YPSILANTI – Students in the Eastern Michigan University College of Business are getting hands-on experience in being able to monitor and manage real-time financial data through the use of Bloomberg financial terminals.

The new Investment Learning Center, which opened this past fall on the third floor of the college, is home to 12 Bloomberg terminals, also enabling students to earn their Bloomberg Market Concepts certification.

Students say the terminals help in developing crucial and distinctive career skills.

An exceptional analytical tool

“My experience with the Bloomberg terminal has changed the way I gather financial information for any respective company and government out there,” said Orlando Kamaj, an MBA student who’s specializing in finance, with an eye on a career as a financial analyst. “It has been a great analytical tool in serving as a primary source of information across asset classes.

“In addition, obtaining the Bloomberg Market Concept certification is a value added on the resume that sets a student apart from other candidates. Using the terminals has changed my career path.”

Students such as Kamaj also oversee the Student Investment Fund, which uses the Bloomberg Terminals to perform market, industry and company analyses of large market capitalization U.S. stocks.

Using tools available from Bloomberg, students build financial models, present to their classmates, and then vote to determine which companies are included in the portfolio. In addition, professors and students from other majors can access a wide variety of useful data beyond what finance professionals would use the terminals for.

MBA student Nana Adomako says he’s used the lab for all of his classes.

“So far, I have used it for marketing, information systems, accounting, data science and finance classes,” he said. “I find the lab very useful; it’s a wealth of reliable information.”

Applied rigor

Kenneth Lord, dean of the College of Business, notes that the Bloomberg terminals align with the college’s mission statement of being intensely focused on developing "outstanding business professionals through a rigorous, applied educational experience." 

“That applied rigor hinges in part on student and faculty access to state-of-the-art analytic tools,” Lord said. “In my experience at other institutions, I have seen dramatic learning and career opportunities opened to students as they have gained proficiency and certification in the use of Bloomberg's phenomenally sophisticated, market-leading data and technology.

“My colleagues and I are tremendously excited about this new opportunity to add yet more value to our globally ranked and accredited business programs, and appreciative of the generous donor support that makes it possible.”

Master of Science in Finance program launched

The opening of the lab coincided with the launch of Eastern’s Master of Science in Finance Program (MSF) this past fall.

The new program is one of only four such graduate programs in the state accredited by AACSB International, the premier accrediting body of business programs worldwide. Of the four, it is the only program with a STEM-designation. The STEM-designation means the program focuses on enhanced quantitative skills, analytics and critical thinking skills. The program includes rigorous instruction in statistical analysis, probability theory and applied financial calculus.

The EMU MSF program features a 30-hour curriculum with evening classes, allowing students to be fully employed over the two years they are working on their degree. Students advance through the program as a cohort, building strong relationships with their classmates and benefitting from consistent faculty support throughout their studies.

Importantly, the MSF program curriculum is built from the Chartered Financial Analyst Institute Body of Knowledge. This ensures a strong foundation that enables students to sit for all three levels of the prestigious Chartered Financial Analyst exams. Eastern Michigan University is one of a select group of institutions worldwide designated as CFA Affiliated Universities.

High-demand careers in finance

Demand for finance jobs is increasing due to the increase in regulation and visibility after the subprime mortgage crisis. Additionally, private sector employers require more specialization in areas such as finance, thus creating more demand for MSF degrees.

The U.S. Bureau of Labor Statistics estimates a 12 percent increase in financial analyst jobs between 2014-2024, along with 30 percent growth for occupations related to financial advisory expertise. Average salaries for occupations in related finance disciplines range from about $70,000 to $120,000, according to the bureau.

The Princeton Review has named EMU's College of Business a "best" in the nation business school every year since 2005.

About Eastern Michigan University

Founded in 1849, Eastern is the second oldest public university in Michigan. It currently serves nearly 18,000 students pursuing undergraduate, graduate, specialist, doctoral and certificate degrees in the arts, sciences and professions. In all, more than 300 majors, minors and concentrations are delivered through the University's Colleges of Arts and Sciences; Business; Education; Engineering and Technology; Health and Human Services; and, its graduate school. EMU is regularly recognized by national publications for its excellence, diversity, and commitment to applied education. For more information about Eastern Michigan University, visit the University's website.

January 29, 2020

Written by:
Geoff Larcom

Contact:
Geoff Larcom
glarcom@emich.edu
734-417-9658