Undergraduate Program in Finance
Philosophy
General Finance Emphasis
Track
Certification
Corporate Finance Track
Services Track
Investment and Portfolio Management Track
Financial
Planning Track
Insurance Track
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.
Undergraduate Program 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. As stated above, for a B.S.B.A. degree with an emphasis in finance, recipients must take a minimum of fifteen credit hours of the following courses:
BA 3525 Practicum in Investments
BA 3195 Business Administration Problems/ Seminars
BA 3199 Independent Studies
BA 3590 Practicum in Finance
BA 3564 Estate Planning and Trust
BA 3561 Principles of Insurance
BA 3562 Life Insurance
BA 3520 Investments
BA 3521 Financial Risk Management
BA 3502 Treasury Management
BA 3542 Principles of Real Estate
BA 3560 Practice of Personal Financial Planning
BA 3563 Retirement Planning and Employee Benefits
BA 3501 Financial Policies
BA 3503 Computer Applications in Finance
BA 3540 Financial Services Industry and Services
BA 3541 Commercial Bank Management
BA 3580 International 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 application can be obtained from the Undergraduate Advisors in the College of Business Administration, 487 Social Science 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 Treasury Management Association to sit for the Certified Cash Manager (CCM) exam. After completion of two years of related experience, the CCM designation qualifies students to work in the Treasury Departments of many leading companies or service providers like banks. Recommended courses include:
BA 3520 Investments
BA 3521 Financial Risk Management
BA 3502 Treasury Management
BA 3401 Financial Accounting and Reporting I
BA 3402 Financial Accounting and Reporting II
BA 3501 Financial Policies
BA 3503 Computer Applications in Finance
BA 3540 Financial Services Industry and Services
BA 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 (BA 3542) provides students with the educational foundation to sit for the Missouri Real Estate Salespersons’ Exam to become licensed to sell residential property under the direction of a broker. Recommended courses include:
BA 3561 Principles of Insurance
BA 3520 Investments
BA 3542 Principles of Real Estate
BA 3503 Computer Applications in Finance
BA 3540 Financial Services Industry and Services
BA 3541 Commercial Bank Management
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:
BA 3525 Practicum in Investments
BA 3520 Investments
BA 3521 Financial Risk Management
BA 3401 Financial Accounting and Reporting I
BA 3402 Financial Accounting and Reporting II
BA 3503 Computer Applications in Finance
BA 3540 Financial Services Industry and Services
BA 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:
| Course Number |
Course Title REQUIRED COURSES – FINANCIAL PLANNING TRACK |
Credit Hours |
| BA3560 | Practice of Personal Financial Planning | 3 |
| BA3520 | Investments | 3 |
| BA3441 | Income Taxes | 3 |
| BA3561 | Principles of Insurance | 3 |
| BA3563 | Retirement Planning and Employee Benefits | 3 |
| BA3564 | Estate Planning and Trusts | 3 |
| Course Number |
Course Title OPTIONAL COURSES – FINANCIAL PLANNING TRACK |
Credit Hours |
| BA3590 | Finance Internship – Financial Planning | 1 - 3 |
| BA3542 | Principles of Real Estate | 3 |
| BA3562 | Life Insurance | 3 |
| BA3503 | Computer Applications in Finance | 3 |
| BA3525 | Practicum in Investments | 3 |
UM-St. Louis does not certify individuals to use the CFP®, CERTIFIED FINANCIAL PLANNER™, and CFP (with flame logo)® certification marks. CFP certificaion is granted only by Certified Financial Planner Board of Standards Inc. to those persons who, in addition to completeing an educational requirement such as this CFP Board-Registered Program, have met its ethics, experience and examination requirements. Only persons registered with the CFP Board are permitted to sit for the CFP® Certification Examination. CFP certification is awarded by CFP Board.
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:
BA 3564 Estate Planning and Trust
BA 3561 Principles of Insurance
BA 3562 Life Insurance
BA 3520 Investments
BA 3560 Practice of Personal Financial Planning
BA 3563 Retirement Planning and Employee Benefits
BA 3441 Income Taxes