Finance...why bother? (1 Viewer)

[Conspirocy]

So after 3 years of listening to people I know and not thinking much of finance, I finally decided to do some finance subjects and see what all the hype is about. My degree was a com/ec and and I had essentially finished my accounting and economics majors already.

After 2 sessions and enough subjects to minor in finance (2 off the major) what conclusion have I come to. Honestly, I think the subjects for a minor are proabably needed, and probably an option in applied corporate finance. But after that I look at all the options and they really seem like a waste of time to me. I'd much rather pick up some game theory or policy analysis in economics, or even some management accounting or financial statement analysis in accounting.

What does everyone really think of their finance major? It really seems to me like all the finance wiz kids learnt what they did outside of the subject. Even a proper masters in Finance looks more valuable than an undergraduate major in it.

 

[doink]

Sometimes the point of subjects is more than what you can see from the 4 letter 4 number combination and 3 paragraph brief.

Also you can't not offer subjects which could be required/assumed of graduates or is offered as standard in all other courses.

There are certain requirements which must be fulfilled which are set outside of the university in order for their course to be accredited.

 

[Conspirocy]

Sometimes the point of subjects is more than what you can see from the 4 letter 4 number combination and 3 paragraph brief.

Also you can't not offer subjects which could be required/assumed of graduates or is offered as standard in all other courses.

There are certain requirements which must be fulfilled which are set outside of the university in order for their course to be accredited.

Yeah I fully understand your points. I would say that I have researched all the subjects more than just looking at the handbook description. I've also spoken to past students and looked at past course outlines for the subjects. But that isn't really important.

I guess my point is how people choose their options

Look at UNSW for example

Options List
FINS2622 Emerging Capital Markets (6 UOC)
FINS2643 Wealth Management (6 UOC)
FINS3623 Small Business Finance (6 UOC)
FINS3625 Applied Corporate Finance (6 UOC)
FINS3626 Int'l Corporate Governance (6 UOC)
FINS3630 Bank Financial Management (6 UOC)
FINS3631 Risk and Insurance (6 UOC)
FINS3633 Real Estate Finance (6 UOC)
FINS3634 Credit Analysis and Lending (6 UOC)
FINS3635 Options, Futures&Risk Mgmt (6 UOC)
FINS3636 Interest Rate Risk Management (6 UOC)
FINS3637 Wealth Mgmt Advice (6 UOC)
FINS3640 Investment Mgmt Modeling (6 UOC)
FINS3641 Security Analysis & Valuation (6 UOC)
FINS3642 Strat for Investment Mgmt (6 UOC)
FINS3650 International Banking (6 UOC)
FINS3651 Int'l Financial Services (6 UOC)
FINS3655 Behavioural Finance (6 UOC)
FINS3775 Research Methods in Finance 1 (6 UOC)

Those are all the options
Its very well known that a lot of these subjects are very easy. Some notable examples include wealth management, international banking, emerging capital markets, international corporate gov, bank financial management, etc

Now for me I could choose the subjects which I like and think are of value and they just happen to be the so called "harder" subjects. A lot of people will just pick their share of the easy subjects and fill out their finance major with some high marks. When you go for jobs, and this is a sad thing to say, they don't generally care which electives you take, they basically look at how well you went overall (I don't have any problems job wise so I'm not having a cry because I can't get a job). So obviously people are going to be rational, play the game and send the signal that they are good students by choosing the "easier" subjects.

I think that situation is stupid.

 

[Cookie182]

So obviously people are going to be rational, play the game and send the signal that they are good students by choosing the "easier" subjects.

I agree. But since were all commerce students it would be a rational assumption that everyone percieves the financial job market as a competitive game with assymetric information and hence as you say, the dominant strategy for the rational student would be to increase their marks (not necessarily their knowledge) as firms percieve higher marks as a signal of credibility. Almost seems like a classic PD- if only we could convince people to not cooperate and follow suite with easy subjects and choose the electives they wish to study.

 

[redruM]

i think an econ major is highly under-rated in the finance industry. i think at an undergrad level, a finance major isn't as impressive as it is made out to be.

 

[YO!]

i think an econ major is highly under-rated in the finance industry. i think at an undergrad level, a finance major isn't as impressive as it is made out to be.

Is your username supposed to read Murder backwards?

 

[redruM]

yes..

 

[Cookie182]

so a heavily maths based Econ major would open up more opportunities then a finance major???

 

[Zarathustra]

*than

 

[MasterPUA]

so a heavily maths based Econ major would open up more opportunities then a finance major???

A distinction average or better will open up opportunities.

Take the option that will inflate your grades the most.

 

[Cookie182]

A distinction average or better will open up opportunities.

Take the option that will inflate your grades the most.

Well for my eco electives i was thinking-

Econometrics
Advanced Econometrics
Mathematical Economics
Financial Economics
Labour Market Eco ?? Not sure here- would be less quantitaive but i might want a break and it is an interest area

anyway

i could do far easier (less quantitative subjects) eg would prob be International Trade Theory/ Emerging Economies of SE Asia/ E Commerce and Information Economics/ Economics of Small and Medium Enterprises...

So wat is essentially more valued?

Having strong calculus/statistical skills and being able to use game theory, optimisation etc to a high level and getting average marks or focusing on more written subjects and getting a D average?

 

[karablack037]

Finance is conceptualized, structured, and regulated by a complex system of power relations within political economies across state and global markets. Studying graduation in finance is not simple task, it needs more financial research and knowledge about management of money or funds management. I have seen many finance students were bothering about their financial research essay. It needs expertise skills and deep financial knowledge for completing financial research essay. The study of finance is subsumed under economics as finance economics, but the scope, speed, power relations and practices of the financial system can uplift or cripple whole economies and the well-being of households, businesses and governing bodies within them sometimes in a single day.