Degree in Business and Personal Finance
Finance degrees are often offered in conjunction with a related subject, such as accounting, business or economics. Indeed, finance is part of the interconnected FAME group of subjects (finance, accounting, management and economics), which are some of the most popular courses at both undergraduate and graduate level.
Essentially, finance is concerned with the management of money – obviously a subject of significant importance for all areas of society and business! As a result, if you study finance you will be prepared for a broad range of finance careers, within many types of organizations.
What do finance degrees cover?
Finance degrees usually cover a combination of technical and theoretical knowledge, including the basic finance skills you will need to enter finance careers. You will learn how wealth is measured and also how finance influences and shapes the way companies behave. Economics and statistics are also covered, since they are crucial to the understanding of finance. Other important finance topics which will probably be taught include accounting, mathematical methods, macro and microeconomics and information technology.
During the later stages of the program, optional modules will be available. Students will be able to choose a specific direction they want to pursue and take classes in fields such as taxation, audit, business strategy, business and employment law, management accounting, advanced accounting theory and risk management.
Since finance courses offer such wide range of subjects, they prepare students for a similarly wide range of finance careers. These include roles in areas such as commercial banking, financial planning, investment banking, money managing, insurance and real estate.
Entry requirements for finance degrees
Entry requirements for finance degrees vary from institution to institution. Although many good universities don’t require students with specific qualifications, you will need a strong academic record (especially in mathematics) and an aptitude in subjects such as English, communications, mathematics and accounting in order to study finance.
Course structure and assessment methods
Usually bachelor’s degrees in finance last for three or four years, while a Masters in Finance will last for one or two. In the UK, undergraduate finance courses are mostly three years, except for in Scotland where they are four, and postgraduates study for one year (in Scotland, two). In the US, finance is mostly taught for four years at undergraduate level, and two at master’s level.
Unlike accounting, which is a somewhat narrower field, finance courses cover a wide range of subjects, which are designed to give students a wide-reaching understanding of the business world today. Teaching typically includes both lectures and practical seminars. Assessment methods are a mixture of individual module assignments, group project work and written examinations.