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 the 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 Real Estate Minor 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 you for a rewarding career.

The Real Estate Minor consists of three components: coursework, connections, and careers. These combine 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 analyst with a REIT, acquisitions analyst in a real estate PE 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, and acquisitions analysis with pension fund advisor. In addition, the minor provides a foundation for a career developing and owning real estate.

Coursework, Connections, & Careers

Eligibility:
The minor is available to any undergraduate degree candidate with sophomore (or greater) standing at Cornell University. Please apply online.

Coursework:

The requirements for the minor are:

  • A minimum of six (6) courses and a minimum of eighteen (18) credit hours.
  • Four (4) of the six (6) courses are specifically required (see below) and two (2) of the six (6) are elective (see below).
  • All courses taken for the Real Estate Minor must be taken for a letter grade, unless the course is offered S/U ONLY.
  • A minimum 3.2 cumulative average at Cornell University is required, both at application and upon completion of the Minor.
  • A minimum 3.2 cumulative GPA within the Minor is required at graduation for the Minor to be awarded.
  • Note that students in the School of Hotel Administration (SHA) have different requirements from students in Cornell’s other colleges and schools.

The ideal sequence is as follows; see the following pages for specifics:

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

Required courses for students in the School of Hotel Administration: (Four courses)

Foundations of Financial Management – Accounting and Finance

  1. HADM 1210 – Financial Accounting – 3 credit hours
  2. HADM 2220 – Finance – 3 credit hours

or equivalent course, as approved by the Minor coordinator.

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

  1. HADM 3210 – Principles of Hospitality Real Estate – 3 credit hours
  2. HADM 4230 or HADM 6210 – Hospitality Real Estate Finance – 3 credit hours

Please note: this does not count again as a Real Estate Enrichment course.

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

Required courses for students outside the School of Hotel Administration: (Four courses)

Foundations of Financial Management – Accounting and Finance

  1. Any one of the following Accounting courses satisfies the Minor:

AEM 2210 – Financial Accounting – 3 credit hours

or HADM 2230 – Financial Accounting Principles – 3 credit hours

or OR&IE 3150 – Financial and Managerial Accounting – 4 credit hours

or equivalent course, as approved by the Minor Coordinator

  1. Any one of the following Finance courses satisfies the Minor:

AEM 2240/PAM5620 – Finance – 4 credit hours

or AEM 3240 – Finance

or HADM 2250 – Finance – 3 credit hours

or ECON 3330/ILRLE 4480 – Financial Economics – 4 credit hours

or ILRHR 4632 – Finance for Human Resources

or ORIE 4150 – Economic Analysis of Engineering Systems – 4 credit hours

or NCC5530 – Managerial Finance – 3 credit hours

or equivalent course, as approved by the Minor Coordinator.

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

  1. HADM 4200/6200 – Principles of Real Estate – 3 credit hours
  2. HADM 4280/6280 – Real Estate Finance and Investments – 3 credit hours **Does not count again as Real Estate Enrichment course.

Elective courses for all students in the Real Estate Minor:

There are two sets of elective courses; Real Estate Enrichment courses and Real Estate Complementary Skills courses.

  • Students must select at least one course from each set to complete the Minor.
  • All courses taken for the Real Estate Minor must be taken for a letter grade, unless the course is offered S/U ONLY.
  • All Real Estate Minor Elective courses must be 3000-level or higher (that is, junior, senior, or graduate level), unless explicitly listed below.
  • Courses with less than three 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 or HADM 6210 – Hospitality Real Estate Finance 3 credit hours **Does NOT substitute for HADM 4280 as a Real Estate Foundations course for students outside SHA

HADM 4250/6250 – Securitization and Structured Financial Products – 3 credit hours

HADM 4255/6255 – Real Estate Development – 3 credit hours

HADM 4280 – Real Estate Finance and Investments – 3 credit hours **Does NOT substitute for HADM 4230 as a Real Estate Foundations course for SHA Students

HADM 4510 – Restaurant Development – 3 credit hours

HADM 4570 – Project Management for Hospitality Real Estate Development – 3 credit hours

HADM 6220 – Hospitality Asset Management – 2 or 3 credit hours

HADM 4271/6271 – Investment in Real Estate Securities and Funds – 3 credit hours

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.

Real Estate 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 – 4 credit hours

HADM 4110/6110 – Negotiations in the Hospitality Industry – 3 credit hours

HADM 4260/ 6260 – Advanced Corporate Finance – 3 credit hours

HADM 4270 – Fixed Income Analysis – 3 credit hours

HADM 4290/6290 – Investment Analysis and Portfolio Management – 3 credit hours

HADM 4530 – Foodservice Facilities Design – 3 credit hours

HADM 4550/6550 – Introduction to Sustainable Hospitality Principles – 3 credit hours

HADM 4760 – Visual Basic for Applications: End-user Programming – 3 credit hours

HADM 4770/6770 – Advanced Business Modeling – 2 credit hours

HADM 4870 – Real Estate Law – 3 credit hours

HADM 6240 – Reporting and Analysis of Financial Statements – 3 credit hours

HADM 6500 – Sustainable Development – 3 credit hours

AEM 2190 – Introduction to Applied Portfolio Management – 4 credit hours

AEM 4110 – Introduction to Econometrics – 3 credit hours

AEM 4210 – Derivatives and Risk Management – 3 credit hours

AEM 4260 – Fixed-Income Securities – 3 credit hours

AEM 4280 – Valuation of Capital Investment – 3 credit hours

AEM 4500 – Resource Economics (also ECON 4810) – 3 credit hours

CEE 5950 – Construction Planning and Operations – 3 credit hours

CRP 3270/6270 – Regional Economical Impact Analysis – 3 credit hours

CRP 3430/6430 – Affordable Housing Policy and Programs – 3 credit hours

CRP 3840/5840 – Green Cities (also LA 4950) – 3 credit hours

CRP 3850 – Special Topics in Planning – 1.5 credit hours

CRP 4040/5040 – Urban Economics – 4 credit hours

CRP 4080 – Introduction to Geographic Information Systems (GIS) – 4 credit hours

CRP 4590/5590 – Legal Aspects of Land Use Planning– 4 credit hours

CRP 5190 – Urban Theory and Spatial Development – 3 credit hours

CRP 5320 – Real Estate Development Process – 3 credit hours

CRP 5330 – Real Estate Marketing and Management – 3 credit hours

CRP 5530 – Concepts and Methods of Land Use Planning – 3 credit hours

CRP 5560 – Design in Real Estate Development – 3 credit hours

CRP 6560 – Real Estate Transactions and Deal Structuring – 3 credit hours

CRP 6590 – Special Topics: Urban Development Planning – 1-4 credit hours (variable)

CRP 6593 – Special Topics: Introduction to Green Real Estate – 1.5 credit hours

DEA 3530 – Planning and Managing the Workplace – 3 credit hours

ECON 3200 – Introduction to Econometrics – 4 credit hours

ECON 3120– Applied Econometrics – 4 credit hours

ECON 4240 – Financial Economics, Derivatives, and Risk Management – 4 credit hours

ILRLR 6011 – Negotiation: Theory and Practice – 4 credit hours

NBA 5060 – Financial Statement Analysis – 1.5 credit hours

NBA 5061– Comprehensive Financial Statement Analysis – 3 credit hours

NBA 5110 – Financial Modeling – 1.5 credit hours

NBA 5420 – Investment and Portfolio Management – 3 credit hours

NBA 6660 – Negotiations – 3 credit hours

NBA 6730 – Derivative Securities Part 1– 1.5 credit hours

ORIE 5582 – Monte Carlo Methods in Financial Engineering – 2 credit hours

ORIE 5600 – Financial Engineering with Stochastic Calculus I – 4 credit hours

ORIE 5610 – Financial Engineering with Stochastic Calculus II – 4 credit hours

ORIE 5630 – Computational Methods in Finance –3 credit hours

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 SHA students, nor does it count toward graduation requirements. In unusual circumstances, SHA 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. 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 School of Hotel Administration 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. Freshman 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 the School of Hotel Administration’s Career Management Office

Questions:
For more information, please contact Mrs. Rhonda Dellinger at rn57@cornell.edu or 607-255-8383. The Minor in Real Estate Office is located in 465 Statler Hall, and is open Monday-Thursday 8:30a.m.-4:00p.m. and on Friday 8:30a.m.-3:00p.m.

Apply online