What finance courses to take as an undergraduate?

Hi,

I'm currently doing my bachelor in business and my program has yet to offer any courses in finance. I'm heading to Korea University Business School (KUBS) this fall and I was thinking of using my exchange as an opportunity to see what finance is all about (at least what they teach you for undergraduates).

KUBS offer a few different finance courses and I've signed up for their entry level one. As I'm green when it comes to finance I would very much appreciate if someone with a bit more experience could give their two cents of what two other courses seem most relevant to understand the fundamentals of finance.

Thanks!

Corporate Finance
"The course is intended to acquire a set of general tools that are crucial to make sound business decisions by financial managers and general managers. The topics covered in this course includes capital budgeting under uncertainty, capital structure, payout policy, valuation of a company. The course further investigates several special topics such as real options, financial distress, and corporate governance."

International Financial Management
"This course introduces the topics unique to international finance, namely, foreign exchange (FX) markets and FX hedging/investing. In addition, the course extends the principles of investment and of corporate finance to the international environments. The ultimate goal is to provide a framework for making financial decisions in an international context."

International Finance
"In the first half of this course, we study international macroeconomics. Topics include the
balance of payment accounting, the determination of exchange rate, the effects of
macroeconomic policy on exchange rate, and the exchange rate system. This theoretical
apparatus will provide you with the basic framework which is useful to understand how
the world economy as “international business environment” evolves.

In the second half of this course, we move on to the topics of foreign exchange and
derivative markets. Using the knowledge on financial derivatives, we further study how
firms engage in various hedging activities to avoid foreign exchange risks."

 

corporate finance is very very different from the other 2 classes. Corp Finan is more directly applicable to Investment Banking and is what would be considered a typical/essential "business" class taken at business schools while the other 2 probably fit more with S&T (specifically FICC). If you've ever taken econ, the latter 2 courses are very similar.

 

Your view on European History has enlightened me. Before reading this I viewed it as just another BS class I am required to take, but I now view it as another BS class that will make it that much easier to BS my way through an interview.

Men are so simple and so much inclined to obey immediate needs that a deceiver will never lack victims for his deceptions. -Niccolo Machiavelli
 

I would add Spanish/Mandarin to that as well since we will all need to be able to speak it sooner rather than later

If I had asked people what they wanted, they would have said faster horses - Henry Ford
 

Midas, the one course you've forgotten to include is a course on meditation and self-reflection.

Regardless of whether you are on the Street or not, taking any class that teaches you how to meditate and reflect on yourself will put you in a better position. I know I'm always talking about reflection, but it's the truth. One of the best ways you will find yourself being able to succeed is by being able to step back and reflect, particularly if you are a trader.

 

SB'd for time-series, although I'm surprised that your Secret Scholastic Brew comprises of only 3 courses.

Gonna try and enroll in an European economic history course next semester.

I win here, I win there...
 

Most of the classes I have taken, even within my finance major, don't really go above and beyond in terms of preparing for a real world job, i would say though any form of business communication class or sales class that really just forces you to speak in front of other people, present deals or ideas is very helpful experience that could make your more comfortable once you start working.

 

The best course I took in college was a no-credit seminar taught by an old alum (from the '50s) who is a retired partner at a Big 4 firm. I'll summarize it:

  1. "I wanted to be a millionaire and retire before age 50."
  2. "This entails: saving and investing prudently."
  3. "Not did I only crush that objective many times over, but even my secretary did it on her salary by age 45."
 
ivoteforthatguy:
The best course I took in college was a no-credit seminar taught by an old alum (from the '50s) who is a retired partner at a Big 4 firm. I'll summarize it:
  1. "I wanted to be a millionaire and retire before age 50."
  2. "This entails: saving and investing prudently."
  3. "Not did I only crush that objective many times over, but even my secretary did it on her salary by age 45."

She must have given him some mad good dome

If I had asked people what they wanted, they would have said faster horses - Henry Ford
 

If I could do it all over again...

1) More accounting courses. Accounting is a pain in the ass, but if you really understand it you can really pick apart a company and understand how it works.

2) Public Speaking. I had to do a lot of presentations in front of large groups in college, so this came rather naturally in the job world, but it is something that everyone should get good at if you want to succeed in this industry.

3) Negotiations. This is a big one. Closing deals, negotiating comp, etc. Negotiations is one class I definitely wish I would have taken.

4) VBA. I know a very limited amount of VBA, but I know that if I had taken a course in it, it could definitely speed up my day-to-day.

5) Excel. Take some course in excel. This was the biggest thing I was able to bring to my firm when I came on board. Especially with no formal training program, knowing the ins and out of Excel straight out of school was huge.

Gimme some bananas...

 

Any class where when you fail the first exam, you tell yourself to pass the next two. Then when you fail the second one, you calculate what you need to do to pass with a D. Finally come final time, you pass ... but miss the D by a few points. Then you walk away from it a champ knowing that you did not drop because you are not a quieter. Sure, it dings your GPA - but the fact that you refuse to retake it next semester simply means you have more important matters to attend do. I learned more failing a class then I did in my 20 years on this planet. I reflected for a couple minutes (well, more like 5 days). But I got over it, and I'm on to the next few more classes before I'm done.

 

excel/VBA, public speaking and "negotiations" all sound very practical but not many top colleges offer courses like this unless you go to some vocational/no name school that needs to teach their students very practical stuff just to stay competitive. I've struggled with this before: why does my college offer seemingly outdated, theoretical, hard and useless classes and topics? Why does my programming class only focus on theory rather than the programming language and practical applications? I had a discussion about this with one of my MD at my internship and he claims that at school ur really learning how to learn and expanding your capacity and speed at picking up new topics. Very rarely do you learn practical skills in school that are directly applicable at the work place. Sure you can go to ITT tech and learn how to program in language ABC, but if you need to program in another language, ur fucked. If you need to learn a new skillset, you are not going to be able to compete with those kids that had a more dynamic, although less practical education. Same goes with finance, trading and banking. Any monkey/consultant from India/China can pick up a textbook and memorize how to model. But these top firms are not trying to hire modeling/ number crunching robots, but rather they are trying to hire teachable future talent with a lot of potential.

So at school, I am going to take all the classes that interest me and learn the fundamentals rather than choosing classes based on what I think is going to be useful on the job. With that said, VBA and excel skills are definitely very helpful. But you should be able to pick those things up with a few weekend courses/self study sessions

 

I agree with Midas in that child psychology is a good class to take, first to learn about human behavior, and secondly to meet the nice young women that will be taking the class (never thought group projects would be so much fun). In addition to this most colleges now offer leadership classes that are useful in teaching how to effectively be a boss that people might actually want to work for.

 

I took an African American Women's Literature class and learned A LOT about how to deal with conflicting views, hostile environments, etc. It didn't hurt that my prof was world renowned too but there can be value found in a lot of different fields/courses

If I had asked people what they wanted, they would have said faster horses - Henry Ford
 

Logic was good. (game theory was involved in it also)

Id imagine everyone these days takes an "business/info systems class" but maybe another computer networking class. I think for most college students these days you can do this w/o a class. But when I was an SA, I got high fives and thank gods for knowing how network all the printers to anyone's computer in maybe 2 minutes. Chaos would erupt when an MD would ask someone to print something to color because they just had B/W etc..After looking at an IT guys screen for 5 seconds it was so basic but so foreign to everyone else.

Public speaking is good if you dont have that famous harvard style lecture.Learning how to remove the "uhs, likes, ahs" from pauses in sentences is good, especially in interviews. Having answers and not fillers.

A sales job (obviously if you can get something finance related go for it) outside of school is very helpful. Something with numbers commonly dealing 1000s (auto, equipment,high retail etc..) helps your math, people reading skill, create a tenacity (especially if you have commission, general work learned stuff like shitty and good bosses, fellow employees etc....

more econ classes but as mentioned it is teacher dependent. its been a self study of mine for years and your market outlook can out shine others.

you'll learn the important shit by force in a few weeks on the job

 

I'm actually very well aware of that too. I applied for a transfer admission for this Fall and got rejected. I believe they will increase the number of transfer admits from 25 to around 50 starting next year. But yeah, internal transfer is actually not even a thing at this point while the minor program offered for juniors has become the only way for anyone already at Umich to become somewhat of a ross student.

 

If you just want to do banking, biz calc is enough. Also, GMAT math = SAT math -> no calculus. Just get a good grade. Trading/Quant stuff will probably require higher level math past the basic calculus requirements.

 

The real Calculus sequence will keep your options open if you ever decide to do a master in finance or quantitative finance degree. Since you're a freshman your goals may change and it is a good idea to keep your options open. This is especially important if you go to a non-target and want to re-brand yourself without getting a MBA.

Banking specifically doesn't require much math however, and it is more important to keep your GPA up.

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