Undergraduate Program in Finance
Finance
as a Discipline
Finance is a multi-disciplinary
field that combines various concepts from management, economics and accounting
with financial techniques to make sound business decisions and solve problems.
There are many business situations in both large and small companies that require
knowledge of the latest financial practices and tools. Generally, these applications
involve investing (using funds) or financing (raising funds). As a result, the
field is comprised of a number of areas including corporate finance, investments,
financial institutions and services (banking, insurance, real estate) and personal
financial planning.
Philosophy
General Finance Emphasis
Track
Certification
Corporate Finance Track
Services Track
Investment and Portfolio Management Track
Financial
Planning Track
Insurance Track
Philosophy
Over the last two decades, the
field of finance has become increasingly technical and specialized. Employers
recruiting for financial positions not only require candidates to have an undergraduate
or graduate degree in finance, but they also want new employees to exhibit skills
and experience beyond those typically found in a traditional academic environment.
As a result, professional licensing or certification has become one of the most
widely recognized means of demonstrating core competency. Consequently, the
finance program at UM - St. Louis carefully integrates finance tracks into the
curriculum to enable students to complete their academic degrees while at the
same time providing the in-depth knowledge necessary for taking professional
certification exams. Our program is designed to accelerate professional development
and provide students with superior credentials to qualify them for skilled positions
in a highly competitive job market. Details for each of the tracks are
discussed below.
General Finance Emphasis
For students who desire to obtain a general knowledge of finance or custom tailor their own individual program, this option allows students to take any of the finance course electives in any sequence. By affording maximum flexibility, students can explore the many different areas within finance before deciding which career path they may want to embark on. To earn a B.S.B.A. degree with an emphasis in finance, students must complete a minimum of fifteen credit hours from the following courses:
| Course | Title |
| Finance 3501 | Financial Policies |
| Finance 3502 | Treasury Management |
| Finance 3503 | Computer Applications in Finance |
| Finance 3520 | Investments |
| Finance 3521 | Financial Risk Management |
| Finance 3525 | Practicum in Investments |
| Finance 3540 | Financial Services Industry and Services |
| Finance 3541 | Commercial Bank Management |
| Finance 3542 | Principles of Real Estate |
| Finance 3560 | Practice of Personal Financial Planning |
| Finance 3561 | Principles of Insurance |
| Finance 3562 | Life Insurance |
| Finance 3563 | Retirement Planning and Employee Benefits |
| Finance 3564 | Estate Planning and Trust |
| Finance 3580 | International Corporate Finance |
| Finance 3582 | International Investments |
| Finance 3590 | Practicum in Finance |
| Finance 3599 | Independent Study in Finance |
Track Certification
All students completing one of
the specialized tracks at UM-St. Louis discussed below will receive a "Certificate
of Completion" for that track. This document will be in addition to any degree
the student may receive and is intended to provide additional evidence of attaining
a specific body of knowledge. To receive the certificate, students must fill
out an application for certification in their last semester. The applications are available in the College of Business Administration,
487 Social Science and business Building.
Corporate Finance Track
The Corporate Finance Track trains students to make business financial decisions to maximize the value of the firm. In addition to raising and investing capital, firm mangers must deal with a number of stakeholders including stockholders, lenders, customers, and regulators. While the major focus is on the financial problems of large corporations, many of the analytical tools and techniques also apply to small business enterprises. Students completing BA 3502, Treasury Management, are eligible under a special agreement with the Association for Financial Professionals to sit for the Certified Treasury Professional (CTP) exam. After completion of two years of related experience, the CTP designation qualifies students to work in the Treasury Departments of many leading companies or service providers like banks. Recommended courses include:
Acctng 3401 Financial Accounting and Reporting I
Acctng 3402 Financial Accounting and Reporting II
Finance 3501 Financial Policies
Finance 3502 Treasury Management
Finance 3503 Computer Applications in Finance
Finance 3520 Investments
Finance 3521 Financial Risk Management
Finance 3540 Financial Services Industry and Services
Finance 3580 International Finance
Financial Institutions and Services Track
Financial institutions design and deliver financial services to businesses, government and individuals. It is also one of the fastest growing segments of the economy. This track is intended for students with a desire to work in a bank, insurance company, real estate firm, or other service provider. Beginning career opportunities include becoming a loan officer for a bank, a securities broker, a mortgage broker, or property manager. Additionally, the Principles of Real Estate course (Finance 3542) provides students with the educational foundation to sit for the Missouri Real Estate Salespersons’ Exam and become licensed to sell residential property under the direction of a broker. Recommended courses include:
Finance 3503 Computer Applications in Finance
Finance 3520 Investments
Finance 3540 Financial Services Industry and Services
Finance 3541 Commercial Bank Management
Finance 3542 Principles of Real Estate
Finance 3561 Principles of Insurance
Investment and Portfolio Management Track
There are billions of dollars
flowing into retirement plans and mutual funds each year. These monies are invested
in security markets around the world to provide the owners with the best returns
available for a given level of risk. Professional portfolio managers have the
responsibility of meeting investor goals while subject to rapidly changing market
conditions. This path of study is intended to prepare students for a challenging
career in money management. The program provides students with the critical
knowledge to sit for the Chartered Financial Analyst (CFA) exam. This professional
designation is highly regarded by the investment industry and requires the passing
of a series of three exams. Students must also gain three years of related work
experience before being certified. Recommended courses include:
Acctng 3401 Financial Accounting and Reporting I
Acctng 3402 Financial Accounting and Reporting II
Finance 3525 Practicum in Investments
Finance 3520 Investments
Finance 3521 Financial Risk Management
Finance 3503 Computer Applications in Finance
Finance 3540 Financial Services Industry and Services
Finance 3580 International Finance
Financial Planning Track
The Financial Planning Track is designed to prepare students to counsel individuals on personal financial matters that impact the family. This curriculum is a registered program with Certified Financial Planner Board of Standards Inc., enabling students who successfully complete it so sit for their certification examination. The registered curriculum includes:
Acctng 3441 Income Taxes
Finance 3520 Investments
Finance 3560 Practice of Personal Financial
Planning
Finance 3561 Principles of Insurance
Finance 3563 Retirement Planning and Employee
Benefits
Finance 3564 Estate Planning and Trusts
Students who plan to sit for the CFP® exam are required by the CFP® Board of Standards to successfully comple Finance 3560, Finance 3561, Finance 3520, Acctng 3441, and Finance 3563.
UM-St. Louis does not award the CFP® and CERTIFIED FINANCIAL PLANNER® designation. The right to use the mark and CFP and CERTIFIED FINANCIAL PLANNERod granted by the CFP Board of standards to those persons who have met its rigorous educational standards, passed CFP® Certification Examinication, satisfied a work exprience requirement, and agreed to the CFP® Board Code of Ethics and Professional Responsibility. Only persons registered with the CFP® Board are permitted to the CFP ® Certification Examination. CFP ® certificates and licenses are issued on by the CFP® Board.
Certified Financial Planner Board of Standards, Inc. owns the trademarks CFP®, Certified Financial Planner™ and certification marks in the U.S., which it awards to individual who successfully complete CFP Board’s initial and ongoing certification requirements.
University of Missouri-St.Louis does not certify individuals to use the CFP®, Certified Financial Planner™ and certification marks. CFP® certification is granted solely by Certified Financial Planner Board of Standards, Inc. to individuals who, in addition to completing an educational requirement such as this CFP Board-Registered Program, have met ethics, experience and examination requirements.
Insurance Track
This track is intended for the development of professionals for all aspects of the insurance industry. Insurance plays a special role in risk management for individuals and businesses. Areas emphasized include life and property / casualty risk exposures and the administration of pension and employee benefit plans. Students are prepared for careers as analytical staff members of major insurance companies, consultants, insurance agents or brokers, employee benefit specialists, and risk managers. The program is a cooperative partnership with the insurance industry including the American College in Bryn Mawr, Pennsylvania and the local chapter of the American Society. By special arrangement, students are entitled to apply three approved UM-St. Louis courses toward professional certification without further examination provided the courses are passed with a "c" grade or higher. The professional certifications include the widely recognized Chartered Life Underwriter (CLU) and the Chartered Financial Consultant (ChFC). Transfer of these courses to the American College for certification does not require any additional tuition but only a one-time registration fee of $60. Further courses can be used to satisfy the knowledge content for certification but will necessitate the taking of a standard national exam required of all candidates on the material. Both the CLU and ChFC require the passing of 10 courses not all of which are offered by UM-St. Louis but are available through the American College. In the future, it may also be possible to take actuarial courses offered in the Math Department as part of this track. See Professor Edward Lawrence in the Finance Area for more information on these issues. Recommended courses include:
Acctng 3441 Income Taxes
Finance 3520 Investments
Finance 3560 Practice of Personal Financial Planning
Finance 3561 Principles of Insurance
Finance 3562 Life Insurance
Finance 3563 Retirement Planning and Employee Benefits
Finance 3564 Estate Planning and Trust