Finance can be divided into three areas:
- Financial Management is the study of how managers obtain funds, manage working capital, and allocate funds to long-term investments. Every firm, no matter how small, needs someone to manage funds. A manager also uses financial information to assess the strategies of the firm and to assess whether the firm is achieving its objectives.
- Financial Markets and Institutions is the study of money markets (short-term debt) and capital markets (long-term debt and equity). Attention is given to how financial traders behave in a global market, the role played in the financial market by different financial institutions (commercial banks, credit unions, investment banks), and the effects upon the financial system of national and international policymakers.
- Investment is the study of how individuals manage portfolios and provide financial planning.
Coordinator: Robert Hoffman, Ph.D.
Finance B.S. major
Finance majors would be prepared to enter jobs in any of the three areas of finance.
Required courses: ACC 2210, 2220; CIS 3205; ECN 2230, 2280; FIN 3420; FIN 4500; FIN 4600; FIN 4900; MGT 2120; MGT 4160; MTH 1111; PSY 3331; plus an additional 16 credits of upper-division elective credits, which must include a minimum of eight Finance (FIN) credits and may include up to eight upper-division credits from the following disciplines: Accounting, Applied Economics, Management, Marketing, or Computer Information Systems. MGT 3354 will also fulfill 4 of the elective credits.
Finance major outcomes
The student completing the Finance major will be able to:
- Assess, interpret and evaluate financial statements. Evaluation includes the use of ratio analysis.
- Perform financial analysis and forecasting for use in all levels of decision making. Students apply finance theory (time value of money) to determine value.
- Understand the functions and operations of financial markets and institutions.
- Create a diversified portfolio understanding the relationship between risk and expected return.
- Have a working knowledge of Code of Ethics & Standards of Professional Conduct of financial practitioners and use them to address ethical challenges they may encounter in a professional setting.
Finance minor requirements: ACC 2210, FIN 3420, FIN 4900; and either two upper-division finance electives or ECN 2280 and FIN 4500.