Appendix 2: Election of Undergraduate Minor and/or Concentration

MINORS

Students may elect to pursue a university approved minor. For more details, students must contact the home college/school registrar to discuss a minor in a specific field. Additionally, it is the student's responsibility to verify with the home college/school registrar that they have met the requirements. The home school/college registrar will notify SHA registrar to make note of the minor on the student's transcripts.

Note: More than one minor may be noted on a student transcript, but only one SHA concentration.

Undergraduate Minor in Real Estate (School of Hotel Administration)

Advisors: W. Boudry, J. Corgel, J. deRoos, C. Liu P. Liu, D. Quan

The Minor in Real Estate is designed to prepare students for careers in the commercial real estate industry. Both the U.S. and international capital markets are undergoing fundamental changes, as is the nature of real estate ownership. This Minor field of study at Cornell specifically focuses on careers as a real estate investor, in real estate finance, in real estate consulting, in structured finance, and in real estate transaction support. Cornell University is at the forefront of knowledge in commercial real estate and will help prepare for a rewarding career.

The Minor in Real Estate consists of three components: coursework, connections, and careers. All are designed to help students obtain the necessary knowledge, skills, and contacts for careers as real estate investment professionals. Some examples of these positions include: asset management with a REIT or real estate fund, financial analyst with a Wall Street firm or real estate broker, associate with a Real Estate Advisory/Consulting firm, loan origination and underwriting with commercial and investment banks acquisitions analysis with pension fund advisor, and providing the foundation for a career developing and owning real estate.

GPA Requirement:

  • Students must take all course work for letter grade unless the course is only offered S/U.
  • A minimum 3.0 cumulative average at Cornell University is required upon completion of the Minor.
  • A minimum 3.2 cumulative GPA within the Minor is required for the Minor to be awarded.

Coursework: The Minor is fulfilled with a minimum of six (6) courses. Four (4) courses are required and two (2) or more Electives complete the Minor. A minimum of eighteen (18) credit hours is required to complete the Minor. Note that the required courses are different for students in the School of Hotel Administration. The ideal sequence is as follows:

  1. Foundations of Financial Management – Accounting and Finance
  2. Foundations of Real Estate – RE Principles and RE Finance and Investments
  3. Enrichment Complementary Skills Electives

Requirements for students in the School of Hotel Administration (Four courses)-These course must be taken for a letter grade.

Foundations of Financial Management-Accounting and Finance

  • HADM 1210: Financial Accounting or equivalent course, as approved by the Minor coordinator
  • HADM 2220: Finance or equivalent course, as approved by the Minor coordinator

Foundations of Real Estate-RE Principles and RE Finance and Investments

  • HADM 3210: Hospitality Financial Management
  • HADM 4230: Hospitality Real Estate Finance

Requirements for students in colleges and schools outside the School of Hotel Administration: (Four courses) - These courses must be taken for a letter grade (unless offered only S-U)

Foundations of Financial Management-Accounting and Finance

Any of the following Accounting courses satisfies the Minor:

  • AEM 2210: Financial Accounting
  • HADM 2230: Financial Accounting Principles
  • ILRHR 6630: Managerial Financial Analysis
  • ORIE 3150: Financial and Managerial Accounting

*or equivalent course, as approved by the Minor coordinator

Any of the following Finance courses satisfies the Minor:

  • AEM 2240: Principles of Finance
  • AEM 3240: Finance
  • HADM 2250: Finance
  • ILRHR 6910: Finance for Human Resources
  • ORIE 4151: Economic Analysis of Engineering Systems

*or equivalent course, as approved by the Minor coordinator

Foundations of Real Estate-RE Principles and RE Finance and Investments

  • HADM 4200: Principles of Real Estate
  • HADM 4280: Real Estate Finance and Investments

Electives:

There are two sets of Elective courses; Real Estate Enrichment courses and Complementary Skills courses. Students must select at least one course from each set to complete the Minor. Courses with fewer than 3 credit hours need to be combined with another course or courses to meet the requirements for the Minor in Real Estate. Deviations from the Electives must be approved by the Minor coordinator.

Real Estate Enrichment: (Minimum of three (3) credit hours)

  • HADM 4230: Hospitality Real Estate Finance and Investments (does NOT substitute for HADM 4280 as a Real Estate Foundations course for students outside SHA)
  • HADM 4250: Securitization and Structured Financial Products
  • HADM 4280: Real Estate Finance and Investments (does NOT substitute for HADM 4230 as a Real Estate Foundations course for SHA Students)
  • HADM 4510: Restaurant Development
  • HADM 4570: Hotel Development
  • HADM 6220: Hotel Asset Management
  • HADM 6271: Investment in Real Estate Securities and Funds
    • or other courses, as approved by the Minor Coordinator; must be a course directly related to real estate development or real estate finance and investments.

Note: HADM 4200 Principles of Real Estate does not count toward the Real Estate Minor for Hotel Students, nor does it count toward graduation requirements.  In unusual circumstances, Hotel Students may substitute HADM 4200 for HADM 3210.

Complementary Skills: (Minimum of three (3) credit hours)

Any of the following Courses meets the Real Estate Complementary Skills requirement; courses in the School of Hotel Administration are listed first, followed by courses in other university departments:

  • HADM 3510: Hospitality Facilities Design
  • HADM 4110: Negotiations in the Hospitality Industry
  • HADM 4260 or 6260: Advanced Corporate Finance
  • HADM 4270: Fixed Income Analysis
  • HADM 4290: Investment Analysis and Portfolio Management (Also HADM 6290)
  • HADM4760: Visual Basic for Applications: End-user Programming
  • HADM4770: Advanced Business Modeling
  • HADM 4870: Real Estate Law
  • HADM 6110: Negotiations in the Hospitality Industry
  • HADM 6240: Analysis of Financial Statements
  • HADM 6500: Sustainable Development
  • HADM 6677: Advanced Business Modeling
  • AEM 2190: Introduction to Applied Portfolio Management
  • AEM 4110: Introduction to Econometrics
  • AEM 4210: Derivatives and Risk Management
  • AEM 4260: Fixed-Income Securities
  • AEM 4280: Valuation of Capital Investment
  • AEM 4500: Environmental Economics (also ECON 4500)
  • CEE 5950: Construction Planning and Operations
  • CRP 3270: Regional Economical Impact Analysis (also CRP 6270)
  • CRP 3430: Affordable Housing Policy and Programs (also CRP 6430)
  • CRP 3502: Suburbia (Also 6502)
  • CRP 3840: Green Cities (also CRP 5840, LA 4950)
  • CRP 3850: Property and Expropriation (also CRP 5850)
  • CRP 4040: Urban Economics (also CRP 5040)
  • CRP 4080: Introduction to Geographic Information Systems (GIS) (also CRP 5080)
  • CRP 4510: Environmental Law (also CRP 5510: Not offered this year)
  • CRP 4590: Legal Aspects of Land Use Planning (also CRP 5590)
  • CRP 5040: Urban Economics
  • CRP 5190: Urban Theory and Spatial Development
  • CRP 5320: Real Estate Development Process
  • CRP 5330: Real Estate Marketing and Management
  • CRP 5520: Land Use Planning
  • CRP 5530: Land Use Regulations
  • CRP 5560: Design in Real Estate Development
  • CRP 6070: GIS Applications Workshop
  • CRP 6560: Real Estate Transactions and Deal Structuring
  • CRP 6590: Urban Development Planning
  • CRP 6591: Commercial Development in Real Estate
  • CRP 6592: Retail Development in Real Estate
  • CRP 6593: Intro to Green Real Estate
  • CRP 6640: Economics and Financing of Neighborhood Conservation and Preservation
  • DEA 4530: Planning and Managing the Workplace
  • DEA 4720: Environments for Elders: Housing and Design for an Aging Population
  • ECON 3200: Introduction to Econometrics
  • ECON 3210: Applied Economics
  • ECON 4340: Financial Economics, Derivatives, and Risk Management
  • ILRLR 6011: Negotiation: Theory and Practice
  • NBA 5060: Financial Statements Analysis
  • NBA 506: Comprehensive Financial Statements Analysis
  • NBA 5110: Financial Modeling
  • NBA 5420: Investment Portfolio Analysis
  • NBA 6660: Negotiations
  • NBA 6730: Derivative Securities Part 1
  • ORIE 4600: Introduction to Financial Engineering
  • ORIE 5582: Monte Carlo Methods in Financial Engineering
  • ORIE 5600: Financial Engineering with Stochastic Calculus I
  • ORIE 5610: Financial Engineering with Stochastic Calculus II
  • ORIE 5630: Computational Methods in Finance
    • or other courses, as approved by the Minor Coordinator; must be related to a career in real estate.

Note: HADM 4200 Principles of Real Estate does not count toward the Real Estate Minor for Hotel Students, nor does it count toward graduation requirements.  In unusual circumstances, Hotel Students may substitute HADM 4200 for HADM 3210.

Connections:

The Center for Real Estate and Finance, the Cornell Career Services office, the Real Estate faculty, and the Real Estate Club help students by providing industry networking, facilitating the search for summer internships, and for permanent jobs.  The Minor will sponsor events on a regular basis to help expose students to various segments of the real estate industry.  These events include ARGUS training twice per year and a Hotel Valuation Seminar once per year. Working with the undergraduate Club for Real Estate at Cornell, the minor will conduct at least afternoon real estate forums each term; forums will feature recent and seasoned alumni in an informal setting to discuss careers, real estate markets, and real estate deals.  Students selecting the Real Estate Minor will have the opportunity to participate in annual Cornell sponsored real estate events.

Careers:

All students will have the opportunity to participate in career-planning activities provided through Cornell’s career services offices.  The SHA organizes a Real Estate Career Fair each spring that is open to all students in the Minor in Real Estate. All students are also included in a special group within CCNet (on-campus recruiting and job posting system), which allows student access to real estate jobs with School of Hotel Administration employers.  Freshmen and sophomore students in the Minor are asked to use their “home” career office; juniors and seniors from all Cornell colleges have limited access to a real estate specialist in SHA’s Career Management Office.

Questions:

For more information, please contact Mrs. Kathy Terry at kcr2@cornell.edu or 607-255-6025. The Minor in Real Estate Office is located in 389 Statler Hall, and is open Monday-Thursday 7:30a.m. and on Friday 7:30a.m.-3:00p.m.