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Finance

 

 

Undoubtedly we have been making financial decisions, one way or another, since at least our teenage years. However, very few of us ever bother to ask, what is finance? Simply put, finance is about allocating limited resources over time. Our parents started saving for our university education while we were a toddler; university students budget their next academic year's expenses based on their summer earnings and other income sources; a family must choose between renting and buying a residence; a firm needs to evaluate investment opportunities and decide on financing methods; a loan manager at the bank needs to decide whether to lend $50,000 to a client; a CEO and the board of directors need to decide whether to acquire another company . . . all these are examples of financial decision making.  In today's world, finance is so ubiquitous that a day can hardly pass by without our making several financial decisions. Finance is an integral part of an individual, a household, a business, a government or an organization and it often concerns the ultimate well-being of such.

 

Why Study Finance? 

 

  • To manage your own financial affairs.
  • To pursue a rewarding career in finance.
  • To make informed decisions on public choices as a citizen.
  • To be abreast with the increasingly complex business world.
  • To broaden your mind.

The first two reasons are by far the most common motivations for people to study finance. Financial knowledge will help you to invest wisely and consume responsibly, which ensures your successful pursuit of other goals in life. Examples of peoples' lives ruined due to bad financial decisions are abundant.

Perhaps more relevant for a university student, the career potential in the financial sector should be a crucial factor to consider. In Canada and other industrialized countries, the financial sector is among the largest employers of the labour force. What's more, the rapid developments in information technology have transformed the offering of financial services into a buffet-like or IKEA style of sales. Varieties and choices often make it necessary for ordinary people to seek professional advice. As a result, there is a boom in various specialized careers in financial advisory services. 

Besides the wide scope of employment potential, a finance career is often very portable and very well paid.   

The rapid growth in the financial services sector, coupled with rapid developments in information technology, has increased the complexity and sophistication of finance jobs. University education plus professional training have become a necessity for a rewarding career.

 

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Finance Courses at U of T Scarborough 

 

Some of our finance courses include:

 

It is also highly recommended that students take as many Accounting electives as possible since accounting is an integral part of most finance jobs. The courses most relevant for finance include Intermediate Financial Accounting I & II MGAC01H3/(MGTC07H3) & MGAC02H3/(MGTC08H3) and Advanced Financial Accounting

MGAD50H3/(MGTD50H3).

Selecting Finance Courses:

All students are advised to take MGFB10H3/(MGTB09H3) and MGFC10H3/(MGTC09H3) at the first opportunity. Having taken MGFB10H3/(MGTB09H3), allows students to take MGFC10H3/(MGTC09H3), MGFC20H3/(MGTC70H3) and MGFC30H3/(MGTC71H3) at the same time. The other three electives MGFD70H3/(MGTD71H3), MGFD50H3/(MGTD72H3) and MGFD10H3/(MGTD75H3) could be taken in any sequence as convenience would dictate, providing MGFC10H3/(MGTC09H3) has already been taken.

See Finance Resources for information on graduate studies in finance and careers.

 

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