FINANCE B.S. PROGRAM
The analytical tools and problem-solving skills fostered in the Finance major will prove useful to any student who wishes to pursue a career in security analysis, business valuation, corporate management, investments, banking, real estate, insurance or small business. The program provides a concentration designed to help the student prepare for exams for licenses as Chartered Financial Analysts (CFA), Certified Financial Planners (CFP) and Insurance Brokers. Finance concentration is also available through the Economics majors. Interested students should also contact the department chair.
Goals of the Major:
The goals of the finance major is to prepare its graduates for careers in financial management. Among the specific goals are to provide students:
- The tools and training necessary to identify and gather information associated with the firm’s activities of capital budgeting and financial decision making.
- A theoretical basis and consequent tools necessary for valuing securities and firms.
- An understanding of the principles associated with diversification and the management of investor portfolios to accomplish appropriate risk and return objectives.
- Finally, an appreciation for the inter-relationships between the above objectives leading to an understanding of the general and guiding principles of modern Finance.
Finance Curriculum:
Core Curriculum: See Pages 38-40 for the Core Curriculum requirements.
Students in all majors are expected to fulfill Core requirements.
| Major course requirements: (22 or 21 courses) | |
| Common body of business knowledge: | |
| MAT 105 Finite Mathematics | |
| AND | |
| MAT 106 Calculus for the Non-Sciences | |
| OR | |
| MAT 115 Calculus for Business I | |
| MAT 115 is recommended over MAT 106. Additional mathematics is recommended if the student is preparing for a graduate program in economics or finance. The student should consult a departmental advisor. | |
| ACC 201 Financial Accounting | |
| ACC 202 Managerial Accounting | |
| ECO 101 Principles of Macroeconomics | |
| ECO 102 Principles of Microeconomics | |
| ECO 255 Business Statistics I | |
| ECO 256 Business Statistics II | |
| ISB 101 Management Technology | |
| FIN 201 Introduction to Finance | |
| ISB 101 Management Technology | |
| MGT 101 Introduction to Management | |
| MGT 325 Operations Analysis for Business | |
| MGT 370 Introduction to Management | |
| MGT 446 Managerial Policy Strategy | |
| MKT 201 Principles of Marketing | |
| Finance major: | |
| FIN 311 Corporate Finance | |
| FIN 312 Investments | |
| FIN 414 Portfolio Management | |
| Finance electives: four courses to be selected from 300 or 400-level finance courses. FIN 455 is strongly recommended. A maximum of two of the following four accounting courses (with a minimum grade of C in each) may be substituted for finance electives: ACC 301, 302, 303, 415.* Economics courses beyond 101, 102, 222 may also be used as finance electives. | |
| Restricted Electives (must be liberal arts) 4 courses | |
| Free Electives (2 or 3 courses) |
Recommended Schedule:
| Fall | Spring | |
| Freshman Year | ||
| FYS 101 | ENG 101 | |
| MAT 105 OR MAT 115 OR MAT 111 |
MAT 106 or free elective if MAT 115/111 | |
| RST 101 | PHI 101 | |
| ECO 101 MACRO (Social Sciences Field) | ECO 102 MICRO | |
| ISB 101 | MGT 101 | |
| Sophomore Year | ||
| MKT 201 | FIN 201 | |
| ACC 201 | ACC 202 | |
| History Field 4 | Field of Knowledge | |
| ECO 255 STATS 1 (Mathematics Field) | ECO 256 STATS 2 | |
| Business International Requirement (Two semesters of language or approved regional studies His 107-108, 109-110, 131-132–when taken is flexible) |
Business International Requirement (2 semester sequence required) | |
| Junior Year | ||
| FIN 311 | FIN Elective | |
| FIN 312 | FIN 414 | |
| MGT 325 | A&S Elective | |
| Field of Knowledge | Field of Knowledge | |
| Field of Knowledge | Core Capstone | |
| Senior Year | ||
| MGT 370 | MGT 446 | |
| Fin Elective | Fin Elective | |
| Fin Elective | Fin Elective | |
| A&S Elective | Free Elective | |
| A&S Elective | Free Elective |
COURSES: 2009 – 2011
FIN 201 Introduction to Finance 3 credits
An introduction to financial analysis, markets, institutions and instruments. Topics covered include financial inter-mediation, interest rate determination, valuation, diversification and financial management and agency issues. Prerequisites: ECO 101-102, ECO 255 (or concurrent registration).
FIN 311 Corporate Finance 3 credits
The examination of the procedures and objectives of capital budgeting, the financing of the firm by means of debt and equity and short-term and long-term financial management. Prerequisite: FIN 201.
FIN 312 Investments 3 credits
This course introduces the student to the construction, management, and performance evaluation of investment portfolios. Primary topics include portfolio models, equilibrium in financial markets, market efficiency and the application of these concepts to the investment industry. Prerequisite: FIN 201, ECO 256.
ECO 330 Money, Banking and the Economy 3 credits
See ECO 330 for course description.
ECO 401 Public Finance 3 credits
See ECO 401 for course description.
ECO 411 State and Local Finance 3 credits
See ECO 411 for course description.
FIN 412 Equity Analysis 3 credits
The analysis and interpretation of financial information and accounting statements in order to assess security risk and return, credit worthiness, financing needs and the valuation of the firm. Prerequisites: FIN 201, FIN 312.
FIN 414 Portfolio Management 3 credits
An introduction to modern portfolio theory and management. The strategies underlying portfolio construction and evaluation will be examined. The implications of market efficiency on portfolio management will also be considered. Finance Major Assessment will be performed in this class. Prerequisites: FIN 311, 312.
FIN 420 Financial Institutions and Markets 3 credits
Examines the changing world of financial services and the role that financial intermediaries and financial markets are playing in a rapidly changing industry with new benchmarks and success factors. Universal banking as the new model will be analyzed. Finally, the changing nature of careers in the “New Industry” will be discussed from both positive and negative points of view. Prerequisite: FIN 312.
FIN 423 Fixed Income Securities 3 credits
This course discusses the various types of fixed income securities and the markets in which they are traded. Emphasis is placed on contact evaluation, extracting term/risk structure information from pricing, evaluating, investment opportunities and (interest rate) risk management. Prerequisite: FIN 312.
FIN 425 Advanced Corporate Finance 3 credits
This course provides a more in-depth treatment of corporate financial management. Topics from the introductory course (FIN 311) are developed in greater detail with emphasis on the underlying theories and more extensive applications to financial decision making. Additional topics beyond the introductory level are presented and discussed. The class relies primarily on lectures, problems and case discussions. Prerequisite: FIN 311.
FIN 454 Financial Data Management 3 credits
An introduction to the collecting, organizing, and using the financial data for the firm. Includes an introduction to database management using Access and a survey of data mining techniques.
FIN 455 Computers and Financial Planning 3 credits
Computer-based financial modeling for the financial decision maker. Application of financial spreadsheets. Prerequisite: FIN 201.
FIN 460 International Finance 3 credits
Basic understanding, with illustrations, of how to apply elements of international finance to managerial policies and decision-making. Exchange rates and exchange risk. Prerequisites: ECO 101, 102, FIN 201.
FIN 480 Options 3 credits
Introduction to options and other derivative securities such as warrants and convertibles. Emphasis on their valuation and use in hedging. Prerequisites: FIN 311, FIN 312.
FIN 485 - FIN 486 Golden Griffin Fund 6 credits
This course is a two-semester program in which students become equity analysts and portfolio managers for a real money portfolio of common equity securities (the Golden Griffin Fund “GGF”). Students screen companies in the fall semester and perform detailed financial statement and valuation analyses in the spring semester. Current events in the economy and financial markets are discussed weekly; written reports regarding current GGF portfolio positions are produced by the student managers monthly beginning in the summer. Students taking FIN 485 are expected to continue into the spring semester in FIN 486. Prerequisites: FIN 201, FIN 311, FIN 312, . Prerequisites or concurrent: FIN 412, FIN 414 (formerly FIN 314), FIN 420, FIN 480.
NOTE: GGF students are selected during an application process, generally during their junior year.
FIN 497 Internship 3 credits
FIN 499 Independent Research 3 credits
Prerequisite: Consent of department chair.