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Finance
Finance Financial executives are of central importance to the overall planning, control and success of an organization. There are financial implications in virtually all organizational decisions, whether the organization is a business firm, a non-profit organization or a government. With each new innovation in the field of finance the importance of finance for all organizations has grown. Every decision-maker must have sufficient knowledge of finance to determine the financial implications of their decisions. Finance has evolved from a descriptive discipline in the early 1900s to the analytical discipline we find today. Finance theoreticians use fundamental economic theory to develop valuation models and the tools of financial analysis and risk management that are used by finance practitioners to make financial decisions. Finance consists of three interrelated core areas: financial markets and institutions, investments and portfolio theory, and managerial (business) finance. Subsets of these core areas include personal finance, real estate finance, international finance, the management of financial institutions, insurance, energy finance, entrepreneurial finance, derivative securities, and risk management. The primary objective of the undergraduate finance curriculum is to produce graduates who have a broad understanding of the financial aspects of their decisions and actions and who are capable of utilizing the fundamental tools of financial analysis. Toward these ends, the development of elementary mathematical and statistical skills and the study of economics, accounting and business administration are needed to accomplish the objective. The major in finance prepares students for positions that require special understanding of financial analysis, financial management and financial systems in a wide variety of organizations. A career in financial management can begin in one of several positions that may lead to a major executive position, including chief executive officer. Initial positions in the managerial finance area include capital budgeting analyst, cash manager, credit analyst, financial analyst (who works closely with accountants), and risk manager. Alternatively, finance majors may choose to enter the financial services industries. Finance majors could enter the workforce in the banking industry as a loan officer or as a member of the trust department; in the securities industry as a securities analyst, as an investment banker, as a stockbroker or account executive, or as a financial planner; and in the insurance industry as an agent or underwriter. Undergraduate Programs • Finance: Two Options, BSBA (p. 1622)
The Master of Science in Quantitative Financial Economics (MSQFE) Degree (See "Business Administration (p. 1601).") The Master of Science in Quantitative Financial Economics Degree. The discipline of quantitative finance has evolved tremendously in recent years, spurred by business and financial institution demand for quantitative skills. Oklahoma State University offers a Master of Science Degree in Quantitative Financial Economics (MSQFE) to meet this demand. The objective of the MSQFE is to produce graduates with mathematical, statistical and financial-modeling skills necessary to support advanced financial and economic decision-making. The MSQFE is a Spears School of Business degree program that draws on the combined expertise of five OSU departments—Finance, Economics, Mathematics, Statistics and Agricultural Economics. The program is designed to produce graduates with the skills necessary to participate in critical decision making processes at all levels of the organization. The program focuses on the analytical methods necessary for effective participation in the fields of investment management, risk management and financial engineering. Significant coursework is devoted to the development of mathematical and statistical skills. These skills are necessary to evaluate the uncertain outcomes found in financial decision-making. The program provides students the opportunity to apply their knowledge and skills to projects that utilize quantitative financial tools and techniques. The MSQFE program seeks to develop student competencies in risk evaluation methods, empirical estimation techniques, valuation theory and techniques, mathematical solution methods, capital budgeting, demand analysis and risk management. The MSQFE is a 33 credit-hour program. The core 24 hours consists of classes required of all students in the program. Students may elect to complete a master's thesis. This option would reduce the number of elective hours from nine to three. The admission requirements include an earned undergraduate degree from a college or university of recognized standards. In addition to the Oklahoma State University Graduate College's standard requirements, the program's Curriculum Committee will consider the applicant's letters of recommendation, GMAT or GRE score, previous academic performance and financial/statistical modeling experience. The background necessary to complete the program with only 33 hours of coursework includes ten hours of calculus, differential equations, statistical methods, intermediate microeconomics and principles of finance. Additional information about the program is available on the Internet at http://watson.okstate.edu/msqfe/. The Doctor of Philosophy Degree A PhD in business administration with concentration in finance prepares the student for careers in academia, business or government. The program is designed to meet the needs and objectives of individual students but all students will seek an in-depth understanding of the theoretical foundations of financial economics, and develop research competency and teaching skills. The small class size provides a supportive environment conducive to the exchange of ideas and the development of new insights by both faculty and students. Students will select finance as their major area of study. Two areas of concentration are also to be selected. As support for the major field of
• Energy Finance (EFIN), Minor (p. 1620) • Finance (FIN), Minor (p. 1621) Graduate Programs
Concentrations in finance are offered through the Master of Business Administration, Master of Science in Quantitative Financial Economics and Doctor of Philosophy degrees.
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