Finance encompasses business financial administration, management of financial institutions, investments, financial markets, and the management of risk. Business financial administration includes obtaining external funds in the money and capital markets, selecting and evaluating investment projects, coordinating the flow of funds from operations, and determining the benefits to be returned to suppliers of capital. An understanding of financial concepts and practices along with knowledge of the instruments and participants in the financial markets is vital to sound financial decision making.
The study of financial institutions involves analyzing the management of commercial banks, savings and loan associations, credit unions, insurance companies, and pension funds. The role of these institutions in the economy is examined. Financial policies and strategies in an increasingly competitive institutional marketplace are emphasized.
The field of investments involves the analysis and selection of securities with special emphasis on stocks and bonds. The role of these instruments in portfolios of individuals and financial institutions is explored.
Financial markets represent the environment within which corporations, financial institutions, and investors create financial assets and liabilities. The nature of the various financial instruments is examined, as well as market innovations and structural changes.
The finance major includes a course in intermediate accounting in addition to courses in finance. The program provides a valuable foundation for initial employment and continued career development in business administration. Employment opportunities exist with industrial firms, public utilities, commercial banks, insurance companies, brokerage firms, credit unions, savings and loan associations, and agencies of local, state, and federal government.
Requirements for the Bachelor of Arts Degree in Finance
- The graduation requirements of the University as described in the Undergraduate Education section of this catalog; 120 credits, including general elective credits, are required for the Bachelor of Arts degree in Finance.
The completion of Mathematics 103 and Statistics and Probability 200 [referenced in item 2. below] may also satisfy the University mathematics requirement.
The University's Tier II writing requirement for the Finance major is met by completing Finance 414. That course is referenced in item 3. a. (1) below.
- The requirements of The Eli Broad College of Business for the Bachelor of Arts degree in the majors that comprise the Business Administration Programs.
- The following requirements for the major:
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Major Field of Concentration. A minimum grade-point average of 2.0 in the courses that are listed below. Students intending to take additional course work in Accounting should substitute ACC 300 Intermediate Financial Accounting I for ACC 305. |
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(1) |
All of the following courses (9 credits): |
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ACC |
305 |
Intermediate Accounting for Finance Majors |
3 |
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FI |
312 |
Introduction to Investments |
3 |
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FI |
414 |
Advanced Business Finance (W) |
3 |
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(2) |
Complete an additional 9 credits from an approved list of Finance elective courses available from the college's undergraduate academic services unit. |
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