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.
The Best College Courses for Monkeys (Originally Posted: 01/15/2011)
I have been writing about some complex and heavy topics lately, so being that it's the weekend, I want to lighten up today.
Now, I was never a great student but I have always loved learning. Unfortunately, our education system does not do a great job of steering students towards the skill set they need out in the business world.
That is why I want this topic to be about specific courses that young college chimps can take that will improve their chances of landing a job in the industry once they graduate.
There are obvious classes like accounting, investments and corporate finance that everyone knows about, but there are also a ton of courses you can take which will make you a well rounded candidate.
Here are three classes you may not have ever thought about, but which could help you a great deal in both adding some flair to your resume and some knowledge to your monkey brain for the long finance world haul.
Midas's Secret Scholastic Brew
1) Time Series
This stats class will give you a skill set coveted by many a hedge fund and prop shop. In fact, Statistics is an awesome major for guys who want to trade or do anything market related. It is a great compliment to mathematical finance,economics and econometrics. Everyone going into finance should take one stats class.
2) European History
This is a very broad term. I would focus on the post-industrial period. A big part of working in finance is recognizing trends. Some trends are cultural, as well as, political. The modern financial structure of the world was built in Western Europe and the United States in the late 18th-early 20th century time period. Learn about this time. Learn about the morals and the values. I know that Adam Smith wasn't great with a DCF but you can impress your interviewer so much more with a proper understanding of Laissez-Faire than you can regurgitating the steps of a cash-flow statement.
3) Child Psychology
When it comes to money, people are like children. We love it and we want more. Your primary difficulty in finance will be dealing with people, not dealing with money. Learning a little bit about how kids behave and how to deal with them will be a great experience for all of you guys who go into client facing roles. Adults often act like children when money is involved. It is so important to understand this concept, I just repeated it twice in a four sentence span.
There's the jump-off point guys. I hope some of you can add some other courses you found helpful that may not be really obvious to college kids looking to gain an edge.
I also hope some of you who have graduated consider taking a course from time to time to broaden your horizons. We all get wrapped up in our own worldviews.
Life's a never ending curriculum.
Let's go back to school...
There are no "best courses" to take to become a money in finance.
Just take the maximum amount of credits and overnight like crazy. This will give you the best preparation for a career in banking, much more than some European history/child psychology crap.
bows
Any Psych class... if you're going into finance, you should at least try to chase box while you still have the time.
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.
public speaking. art history.
I would add Spanish/Mandarin to that as well since we will all need to be able to speak it sooner rather than later
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.
I would add one or two proof based math courses.
Game theory and programming for S&T
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 think that any courses related to psycho could be relevant. Moreover it show to everyone a different way of thinking.
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:
She must have given him some mad good dome
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...
Introductory microeconomics changed my life. It was a completely new world view for me at the time, and it has truly stuck, even after 7 years. (This is really teacher/topic independent, though.)
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.
Problem with me is that i would need have done my first year in psychology if i wanted to take extra psychology classes besides my finance study. Things are different here in europe
I'm in a money and banking class now and the professor was a director of fiscal and economic affairs at the US Chamber of Commerce back in the day before he was a Cornell Professor and a top 3 blue chip picker in 07 (I think it was 07)
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
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
What courses should I take as an Economics undergrad at University of Michigan to appeal to BB's for internships? (Originally Posted: 11/29/2017)
I'm a 20 years sophomore old who wants to become an investment banking analyst at a BB firms after graduating with an Economics degree from University of Michigan in 2020. It's probably important to mention that I am going to be a transfer student from a local community college to Umich LSA starting next semester. I will have 55 credits including basic macro/micro and calc 1,2, &3. I will have 3.8~3.9 GPA from my community college, which will NOT be added onto the GPA I will get from Umich in future. I have to register for my first semester at Umich very soon (Dec 13th), and I have no idea how I should make my overall course selections look like besides the generic Econ degree requirement classes.
I'm seeking recommendations on types of courses that would potentially make me look appealing to the employers and prepare me to have skills/education to become an IB analyst after graduating.
I will apply for a minor program at Ross in business with concentration in Finance, which I don't expect to get into due to its extreme competitiveness.
To be honest, I feel pretty nervous as to how I will even be competitive when trying to land an internship at BB since I am transfer student from a community college and non-Ross... any advice or tips would be greatly appreciated.
Can any recent Michigan grads point out how difficult it is to make Ross from undergrad now that most of the class is filled by preferred admit
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.
Which course(s) to take -- final year of undergrad (Originally Posted: 07/29/2013)
I have tried to do a thorough search both on this site as well as others, to no avail. I am about to enter my final year in undergrad as a non-traditional student.
Background: In the years preceding my entry to college, I was a manager of a couple of restaurants as well as a small consumer loan company. I realized I was headed nowhere with the decisions I had made.
No I am nearing the conclusion of my collegiate career and find myself at a crossroads. While I go to a non-target, I am also not disillusioned to think I can break into Wall Street. Right now I am looking at my final 18 credit hours and I am seeking some advice on which courses might help broaden my base and help me "tell my story" when it comes time to applying for positions.
I am currently enrolled in an investment course in which we manage an investment fund with ~$300k AUM and I am considering taking either another accounting course, or taking a case study competition course.
The accounting course would be in tax and compliance where the case study course would be centered on analyzing hypothetical companies and presenting our opinion to a committee. Last semester the class presented in Belgium and I believe this coming semester they are going to be presenting to a bunch of Venture Capitalists in Silicon Valley. While working in Venture Capital would be a dream of mine, I understand the long road ahead of me and thought that this course might give me some sort of networking that I might not be able to develop on my own.
So, what do you guys think? Take the accounting course, in which I might better develop a stronger understanding of accounting, or do I take the case study course and try and leverage every once of networking I can muster, out of that course.
Ultimately it should be what interests you more, but if I were in your shoes I would take the accounting class. Never hurts to learn some more technical info
Although basic technical information is useful, winning a case competition is a great talking point for interviews/ shows your commitment and interest.
Of course, but winning and participating in a case comp are two different things
Which Undergraduate Courses to work in front offici (Originally Posted: 09/03/2013)
Hi I'm 17 and i will apply for a lot of universities. I just want to know what courses do i have to apply for ? Moreover it's abour universities in UK : Oxford , Imperial , Warwick etc and US. All your help will be great for me , specially about UK. Thanks for all the help you will give me by answering to this topic. I'm sorry I'm new on the forum don't even know where to post the topic.
Bro, your username...
Can you help me by answering to the subject , my username isn't something important.
Which undergrad. math class for IB or consulting? (Originally Posted: 01/29/2012)
Hi
I am a freshman, a Finance major, and I am currently deciding between doing Business Calculus or the regular Calculus series.
As Bus. Cal is easier, do you think it would be wise choose the hardest option (in terms of the GMAT, recruiting-process etc.)?
Thank you
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.
how about if i take honors maths class, and possibly publish lets say a research paper on maths?
bump
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