Is learning about derivatives useful for IB?

Hey WSO, currently in my final year of uni having accepted a FT IB grad role for next year. To graduate, I need to take one more subject - either a fun elective or a finance subject on derivatives. 

I am wondering if understanding derivatives will be beneficial at all for when I start working in IB. Over my summer internship I didn't seem to need it at all but not sure about the future.

For reference, some of the topics covered in this derivatives course are: futures hedging/pricing, trading strategies with options, Binomial Model, Black-Scholes Model, hedging with options.

Thanks for any input!

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