Finance Courses That Every Student Should Take
Most careers in finance are regarding efficiently managing a company’s funds in order to generate wealth and increase the company’s value. Finance majors are required to prepare for this career as they study finance courses related to planning, controlling costs, raising funds, and making wise investments.
This knowledge and the financial skills acquired set them up for a wide assortment of career options in areas such as corporate finance, investments, and financial institutions.
What Executives Want
Executives and companies in search of well-rounded and top finance students look for a set of particular financial skills.
Research has shown that these executives demand institutions to place an emphasis on strategic, quantitative, and critical decision-making as well as communication skills instead of just on finance courses. These skills are best developed in classes outside of a business school.
To pocket the best possible qualification for their financial career, students need to put some thought into what courses to take that may not be a part of finance courses.
Mathematics and Finance
Courses in calculus and college-level algebra helps finance students in learning how to solve complex equations in the financial market. Statistics can help in making decisions based on the likelihood of various outcomes, which lets finance students learn how to reach conclusions regarding general differences between large batches of information and groups. It can also explain movements of a business’ stocks.
Managerial and financial accounting courses can teach finance students how to record, understand and report financial transactions. It also teaches them how to monitor a company’s budgets and performance as well as examine the costs of it products or services.
Economics is all about looking at the scarcity of resources and their allocation to achieve needs. Courses in macroeconomics teach finance students the impact of all the activities in the financial market on the overall economy, whereas courses in microeconomics help understand the behaviors that take place within individual firms as well as among consumers. It also teaches finance students how financial decisions impact a company’s success.
Psychology in Financial Trading
It is necessary that financial professionals understand the behaviors and thoughts that can be key in driving the financial market. A critical thinking course can teach finance students how to reflect and evaluate an argument and examine various situations before applying a solution. Critical thinking involves understanding what is known about a situation versus what is not known.
Consumers have indeed not only access to bank loans with different interest rates or different savings plans, but a range of loan and savings instruments advanced and have multiple options: fine in loan, tracker, FCPI and asset-backed security, guaranteed or structured products…
Behavioral finance helps finance students explore how and why the financial market is not performing by analyzing the investors’ behavior and their association with the market anomalies. This course helps professionals of finance determine the area of mistakes made by the investors and their correction by taking into consideration the emotions and thoughts involved. A course in behavioral psychology also helps finance students observe the cognitive aspects of human nature and behavior with respect to the financial environment.
A technical writing course helps finance majors learn how to put forward strong, organized and clear ideas, explanations and purposes in the form of memos, reports, and letters.
A course in public speaking can help finance students present financial reports and explain the meanings behind financial equations and numbers to colleagues while working in group settings. It is also helpful in the management of people. It teaches organizational relations, for example, in delegating responsibilities to employees and team members within the financial department.
Courses in crisis communication, corporate communication, and PR strategies are also helpful for finance majors. Financial scandals and downturns affect shareholder support and consumer confidence; knowledge of crisis communication can help finance majors tackle the issues about corporate reputation when they arise.
Ethics in Finance
Corporate scandals have motivated business schools to include an ethics course in their curriculum. This course focuses on moral development to avoid future misconduct in financial and business environments.
Students studying finance courses are tasked with big responsibilities in their future as they have to manage the flow of money at their respective company and identify financial risks to make qualified business decisions. To have an edge over their competition, finance majors should also consider these subjects in addition to their finance courses.