All posts by: UMBC News Staff

As the discussion continues surrounding a potential new stadium for the Buffalo Bills, an article published January 24 in The Buffalo News examines the possible economic impact of a major sports and entertainment district in the city’s downtown.

Economics Professor Dennis Coates was interviewed for the article and shared that new stadiums don’t necessarily generate job growth and economic development: “If the argument is being put forward that there’s going to be ancillary benefits and job growth discount all of that completely. There’s no evidence that they ever happen,” said Coates. “What I and many others have found is that using stadiums with the intent of them being economic-development tools is not effective.”

Coates added that new stadiums tend not to spur economic growth, but rather shift it from one end of town to another with patrons simply doing business elsewhere: “They’re not actually doing more economic activity than they used to,” said Coates, a Western New York native. “They’re just doing it elsewhere.”

To read the full article “Spinoff of downtown stadium depends on ‘destination’ appeal,” click here.

UMBC has become the latest university to be welcomed into the Chartered Financial Analyst (CFA) Institute University Recognition Program. The B.S. in Financial Economics program has been acknowledged as incorporating at least 70 percent of the CFA Program Candidate Body of Knowledge (CBOK), which provides students with a solid grounding in the CBOK and positions them well to sit for the CFA exams. This program sets up students well to obtain the CFA designation, which has become the most respected and recognized investment credential in the world.

Entry into the CFA Institute University Recognition Program signals to potential students, employers, and the marketplace that UMBC’s B.S. in Financial Economics curriculum is closely tied to professional practice and is well-suited to preparing students to sit for the CFA examinations. Through participation in this program, UMBC is eligible to receive a limited number of student scholarships for the CFA Program each year.

“Students in these programs study the Candidate Body of Knowledge, which includes the core knowledge, skills, and abilities identified by practitioners worldwide as essential for successful practice,” said Charles Appeadu, PhD, CFA, Head of University Relations at CFA Institute. “By mastering the fundamentals of the CFA Program as well as the Code of Ethics and Standards of Professional Conduct, these future investment professionals gain a strong foundation that helps prepare them well to join the growing CFA Institute community dedicated to promoting the highest standards of ethics, education, and professional excellence for the ultimate benefit of society.”

Economics Professor Douglas Lamdin, who put together the application package for the program, commented that “UMBC students who graduate with the B.S. in Financial Economics and go on to complete the requirements needed to achieve the CFA charterholder designation are in high-level positions in the financial services industry. We hope that participation in the CFA University Recognition Program will spur growth in the number of our graduates who achieve similar success.”

For more information about the CFA Institute University Recognition Program, including a list of other participating universities, click here.