The finance function, practiced at the personal or organizational level, private and
public, is an integral part
of the resource allocation process in a well-functioning economy. Through course work that
blends theory
and practice, the Department of Finance provides students with the background and skills
necessary to
meet the ever-increasing complexity and demands of today's product and capital markets.
The Study of Finance
Finance is the area in business that focuses on the financial decisions of managers and
investors and the
implementation of these decisions. We study financial decisions and their implementation
in many kinds of
organizations: corporations, large and small, banks, investment companies and non-profit
organizations.
We also study the environment in which financial decisions are made and implemented,
including the
requirements of law and ethics. We do more than study the existing practice of finance -
we look for ways
to improve the practice and teach these improvements to our students.
Finance plays an important role in all facets of business: from the selection of projects
to the determination
of techniques to control risk, from strategic decisions regarding the structure of
companies to daily
decisions regarding the uses of capital resources, from the financing of projects to the
tracking their
success, from the investment decisions of large portfolio managers to those of typical
individual investors.
Finance interfaces with all other business disciplines - accounting, marketing, strategic
management and
operations management. An understanding of finance is crucial for anyone interested in
business.
Finance is a continuously evolving field. Financial instruments and practices such as high
yield bonds,
"hostile" takeovers, interest rate futures, options, swaps, and many other
financial instruments are now
widespread. The use of the internet, smart cards and cyber cash indicates that innovation
will continue to
be central to finance.
Finance is a global field. Capital today knows no borders and the amounts of capital that
move from
country to country are astounding. This globalization of finance will continue to
intensify, providing many
opportunities for managers and investors who have the expertise to take advantage of them.
The Finance Degree
The Finance department offers a Bachelor of Science in Commerce in
Finance and a Master of Business
Administration with a finance concentration.
In accordance with the role of finance in business, the finance courses focus on providing
the student with
the decision making and implementing tools necessary for financial managers and investors
in our business
environment. Our program also emphasizes the role of competition, technology, risk,
regulation and ethics
in shaping the world of finance and the role that our students will play in it.
Career Opportunities
Finance graduates find work in all types of business organizations: financial
institutions, manufacturing firms,
service firms and non-profit organizations. All these organizations need the kinds of
skills and knowledge
provided by a finance graduate.
In Silicon Valley, many of the jobs available are in hi-tech companies that require
financial expertise. A
typical position, a financial analyst, could involve reviewing capital and leasing
requests, compiling and
coordinating the data collection for the annual capital budgets, and compiling and
projecting cash flows for
proposed projects.
Financial institutions, from investment banks to local commercial banks, offer entry level
positions to
finance majors. These positions vary dramatically based on the type of institution
involved.