Introduction to Finance Dr Jenni Bettman
Outline • Welcome to ANU, and thank you for your interest in undertaking studies in Finance at ANU. In this talk today, I wish to overview the Bachelor of Finance Degree, and answer some common questions students have regarding the degree. • I will discuss: 1. What is Finance? 2. What is the structure of the Finance Degree? 3. Can I choose a major in my Finance Degree? 4. What career paths are open to me in Finance? 5. Open Question Time 2
1. What is Finance? • Broadly speaking, Finance is the study of financial instruments, institutions, markets and systems. • Here at ANU, in our studies, we concentrate on the three main ideas of Finance: ‒ The Time Value of Money; ‒ Diversification; and, ‒ Arbitrage. • In either Semester 1 or Semester 2 of your first year of study, you will be taking FINM 1001 (Foundations of Finance), which will introduce you to each of these ideas. 3
2. What is the structure of the Finance Degree? • There are two main ways to study Finance at ANU: ‒ A major in Finance within the Bachelor of Commerce Degree; or, ‒ By undertaking the Bachelor of Finance Degree. • Today we will concentrate on the Bachelor of Finance Degree. ‒ However, there is a lot of similarity between the structure of the Bachelor of Finance Degree and a major in Finance within the Bachelor of Commerce Degree. 4
2. What is the structure of the Finance Degree? To complete your Bachelor of Finance Degree you must complete: 1. 144 units (24 subjects if each subject is 6 units) of which at least 96 units must be taken within the College of Business and Economics) • Normal enrolment consists of 24 units or four 6 -unit subjects a semester. 2. No more than 60 units can be at the 1000 level (first year courses). 3. The following compulsory courses: • • • BUSN 1001 Business Reporting and Analysis; ECON 1101 Microeconomics 1; ECON 1102 Macroeconomics 1 or ECON 1100 Economics 1 (H); FINM 1001 Foundations of Finance; and, STAT 1008 Quantitative Research Methods. 5
2. What is the structure of the Finance Degree? 4. One of the following core courses: • EMET 1001 Foundations of Economic and Financial Models; • MKTG 2003 Marketing for Financial Services; and, • STAT 2032 Financial Mathematics. 5. Two courses from the elective courses list of the ANU College of Business and Economics; and, 6. Complete one major: • Capital Markets Major; • Asian Capital Markets Major; or, • Quantitative Finance Major. We will discuss majors in greater details in a few minutes. 6
3. Can I choose a major in my Finance Degree? • Yes! In fact you must choose a major as part of your Bachelor of Finance Degree. • Capital Markets Major: • Tailored towards students who have an interest in the way companies are valued, structured and financed. • Would be of particular interest to students who would like a career as a business analyst at a bank or the public service. • Asian Capital Markets Major: • As with Capital Markets Major, but spend a semester at an Asian university. • Quantitative Finance Major: • Tailored towards students who have a good mathematical background or are interested in more extended topics on derivatives. • This major may be of interest to students who are doing a combined degree with Actuarial Studies or would be interested in a career such as a derivatives trader. • You must also take MATH 1115 (Mathematics and Applications) in your first semester of study. 7
3. Can I choose a major in my Finance Degree? • An honours year in Finance is also offered within the Research School of Finance, Actuarial Studies and Applied Statistics. • Entry to the honours program is very competitive, with usually only 5 -8 Finance Honours students admitted every year. • The honours year is extremely demanding, but rewarding at the same time. It assists in further developing technical and analytical skills which will be of much benefit in your future career or postgraduate studies. • The honours year entails a mixture of coursework and completion of a thesis (approximately 15, 000 words). 8
4. Finance and my career? • Studying finance gives an excellent grounding in critical thinking and analysis - beneficial in any career path. • Jobs in finance tend to be: A. Well-paid; B. Challenging (and interesting!); C. Competitive; and. . . D. Mostly people-orientated. 9
4. Finance and my career? Some people who use what we teach in finance: • Company analyst, determining if a stock as a ‘buy’ or ‘sell’ • Management consultant, advising a company on an acquisition • Commercial banker, deciding whether to give a company a loan • Company finance executive, evaluating a new investment • Financial planner, helping their client invest their savings • Venture capitalist, funding and assisting a new company so it grows • Currency trader, managing the currency exposures on their book • Superannuation fund manager, setting their portfolio structure 10
5. Open Question Time Any questions? Feel free to email me: jenni. bettman@anu. edu. au 11
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