Research awards have also been won by faculty for their work. Finance involves the efficient management of money with consideration of risk for firms, governments, and individuals. The finance specialization teaches you how to analyze money decisions and to consider risks so that financial capital is efficiently managed. The specialization in finance exposes students to the five main fields of finance. These are corporate finance, financial institutions, investments, insurance, and personal financial planning.
Corporate finance deals with the management of financial resources of nonfinancial firms.
It involves the planning, acquisition, and financing of resources for business firms. Financial institutions deal with the management and functions performed by financial firms. These firms range from credit unions, savings and loans, and banks all the way to the Federal Reserve. Investments is an area that cuts across the other fields of finance. Businesses need to invest their excess cash, banks need to invest deposits and manage trusts, and insurance firms need to invest premium payments.