Academic Programs Catalog

The Eli Broad College of Business and The Eli Broad Graduate School of Management

Department of Finance

Undergraduate Programs
Minor in Insurance and Risk Management

The Minor in Insurance and Risk Management, administered by the Department of Finance, teaches the skills necessary for students seeking careers as underwriters, claim adjusters, agents, or brokers in the insurance organization, as well as careers in risk management in financial institutions. Students will learn how to quantify, manage, and price risk, while learning the structure, evolution and regulation of the finance and insurance sector of the economy.

The minor is available as an elective to students who are enrolled in bachelor’s degree programs at Michigan State University. With the approval of the department and college that administer the student’s degree program, the courses that are used to satisfy the minor may also be used to satisfy the requirements for the bachelor’s degree.


Students who plan to complete the requirements of the minor should consult the undergraduate adviser in the Department of Finance to apply. To be admitted to the minor students must have completed two of the following courses with a grade-point average of 3.0 through selection of a course from item a. and a course from item b.:

a. STT 315 Introduction to Probability and Statistics for Business 3
STT 351 Probability and Statistics for Engineering 3
STT 421 Statistics I 3
STT 441 Probability and Statistics I: Probability 3
b. FI 311 Financial Management 3
FI 320 Introduction to Finance 3

Requirements for the Minor in Insurance and Risk Management

Students must complete 15 credits from the following:
1. At least two of the following courses (5 or 6 credits):
EC 301 Intermediate Microeconomics 3
EC 330 Money, Banking, and Financial Markets 3
FI 312 Introduction to Investments 3
FI 321 Theory of Investments 3
FI 413 Management of Financial Institutions 3
FI 414 Advanced Business Finance (W) 3
MKT 319 Marketing Research 3
SCM 475 Supply Chain Decision Modeling 2
2. All of the following courses (9 credits):
FI 380 Principles of Insurance and Risk Management 3
FI 480 Financial Risk Management 3
FI 481 Crises, Insurance, and Risk Management 3