A career in finance involves finding efficient ways to manage and organize a company’s money to generate more wealth and increase its value. Finance students prepare themselves for this career by studying topics like planning, raising funds, making wise investments and controlling costs. Knowledge in these areas sets them up for a wide array of career paths in corporate finance, financial institutions and investments.
Executives who are in search of finance students look for a particular kind of skills, and studies. If you want to get the best possible education of the finance world from your undergraduate education, put some emphasis into which classes to take that may fall outside the finance curriculum.
These courses are:
Mathematics Finance students must take up a course in mathematics. Courses in algebra and calculus help students in learning how to solve equations in highly complex financial markets. Besides that, statistics helps to take decisions based on the probability of various outcomes and allows them to learn to reach conclusions about basic differences between groups and large batches of information. Accounting Accounting is an integral part of finance. Course in this sphere teach finance students to understand, record and report financial transactions, monitor an organizations annual and quarterly budgets and performance, and examine the costs of various products and services. Economics A course in economics helps finance students get an overhaul of the world economic scenario. Economics basically looks at allocating scarce resources to achieve needs and wants. If one takes up a course in macroeconomics teaches, it will help him / her understand the impact of financial market activities on the overall economy. Microeconomics basically helps students in understanding the different behaviors that occur within firms and among consumers and also in making various financial decisions that can impact a firm’s success. Psychology A professional in finance needs to understand the basic behaviors and thought processes that help trigger movements in financial markets. If one takes up a course in psychology, it helps him / her in developing a critical thinking that a finance student must have in order to reflect and evaluate an argument and examine situations in all dimensions before reaching to a conclusion. This also involves understanding what is not known against what is known. Besides that, behavioral finance helps finance students analyze why and how the financial markets aren’t working by examining how investors’ behaviors are associated with market irregularities. This subject helps financial professionals in determining where investors have made mistakes and how to correct them by examining the thought behind such actions. Behavioral psychology helps finance students understand aspects of human behavior within a financial environment. Writing – A course in technical writing teaches students to put forth strong, clear and organized ideas, purposes and explanations in the form of memos, reports and letters.
Additional Course Recommendations:
Communications – A course in communication such as public speaking helps students of finance present financial reports and explains the meaning behind the various equations and numbers to colleagues in group settings. Besides that, it helps in the management of people and relations, such as in delegating responsibilities to employees within financial departments.
Business students should also pursue a course in corporate communication, crisis communication and PR strategies as per a study. These courses help in resolving financial scandals and downturns that can affect shareholder support, consumer confidence and corporate reputation. Undoubtedly, finance students benefit a lot from knowing how to handle corporate reputation issues. Ethics – Corporate scandals that involve irregular accounting procedures have encouraged some business schools to add a course in ethics in their finance curricula. The main focus of this course is moral development to stem future misconduct in business environments.
Finance students are tasked with big responsibilities in their careers. They have to effectively manage the flow of money at their companies and constantly identify financial risks and returns to take best business decisions. Those students who want to have an edge over their peers must take advanced mathematics, accounting, economics, and psychology, communications and writing courses to gain a deeper insight into their jobs. These courses will not only help you to work effectively but will also help you in having a better understanding of every business related issue.