Finance (BS) Financial Planning and Insurance

Summary

An emphasis in Financial Planning prepares individuals with the skills necessary to plan and manage the financial interests of individuals. Students will develop not only their sales skills, the utilization of financial planning software, but also the personal and financial skills relevant to financial consulting and client relations. Courses are designed to offer students necessary information in areas such as insurance and investment planning, tax planning and estate planning. The program is recognized as a Certified Financial Planner (CFP).
Catalog Year

2023-2024

Degree

Bachelor of Science

Major Credits

69

Total Credits

120

Locations

Mankato

Program Requirements

Required General Education

ECON 201 and MATH 130 are required for admission to the major.

Emphasis on forces influencing employment and inflation. Current problems of the economy are stressed along with tools government has to cope with them.

Prerequisites: none

Goal Areas: GE-05

This course develops concepts and skills in algebra and introductory calculus needed to model applications in business, economics, social sciences and life sciences, using polynomials, exponentials, logarithms, linear systems, linear programming, sequences, series, derivatives and integrals.

Prerequisites: Satisfy Placement Table in this section, or grade of "C" (2.0) or better in either MATH 112 or MATH 115.

Goal Areas: GE-04

Ethics Requirement - Choose 3 Credit(s).

Discussion of theories of value and obligation.

Prerequisites: none

Goal Areas: GE-06, GE-09

Discussion of the ways that a culture both creates human community and shapes self-identity. Exploration of similarities and differences between and interdependence among cultural traditions, and of vocabularies for assessing traditions.

Prerequisites: none

Goal Areas: GE-06, GE-08

Ethical perspectives relevant to issues such as euthanasia, genetic engineering, organ transplant, patients' rights, abortion, etc.

Prerequisites: none

Goal Areas: GE-06, GE-09

Introduction to ethical theories and concepts and their application to specific cases in the world of business.V

Prerequisites: none

Goal Areas: GE-06, GE-09

Questions about human responsibilities to other animals and the environment gain urgency as environmental crises become more prevalent, and animal species continue to be eliminated. Learn about, critique, and apply the principles underlying evaluations of human environmental conduct.

Prerequisites: none

Goal Areas: GE-09, GE-10

Consideration of the basic philosophical approaches to the idea of justice and how this idea relates to other fundamental ideas in political philosophy, ethics, and law.

Prerequisites: none

Goal Areas: GE-06, GE-09

Prerequisites to the Major

The accounting process, financial statement preparation, and analysis. Includes the accounting cycle, asset, liability, and equity accounting. Emphasis on the use of accounting data.

Prerequisites: MATH 112 or MATH 115or MATH 121 or MATH 130 or MATH 181

This course is required for admission to the College of Business for all business majors. The purpose of the course is to provide students with an overview of COB majors, allow students to create an academic plan for graduation, and develop professional skills needed for future job placement. Topics include cover letter and resume writing, interviewing skills, the process of networking, the internship program, etiquette skills, and requirements for graduation.

Prerequisites: none

Introduction to the personal computer as a productivity tool for business majors. Using Microsoft Office suite, students learn to be productive with document processing, spreadsheets, electronic presentations, and databases. Cannot be used toward any major or minor in Computer Information Science.

Prerequisites: none

Major Common Core

Required of all College of Business majors - Choose 34 Credit(s).

Preparation and analysis of cost-based management reports: use of cost information to make short-term operating decisions and long-term capital decisions.

Prerequisites: ACCT 200

Application of law to business settings; the American court system; alternative dispute resolution; ethics and the social responsibility of business; fundamentals of legal reasoning; sources of law; constitutional, criminal, tort, and contract law; business associations.

Prerequisites: none

Examines decision making by the individual firm, the determination of prices and wages, and current problems facing business firms.

Prerequisites: none

Goal Areas: GE-05

Basic statistical methods including measures of central tendency and dispersion, probability, probability distributions, sampling, problems of estimation and hypothesis testing in the case of one and two sample meaans and proportions. Chi-Square, one-way analysis of variance, simple regression and correlation analysis, and brief introduction to multiple regression analysis. Use of computer statistical packages required.

Prerequisites: MATH 112 or equivalent

Goal Areas: GE-02, GE-04

An introduction to finance relating to problems, methods, and policies in financing business enterprise.

Prerequisites: ACCT 200

International dimensions of business: global business environment (economic, cultural, legal, political) and international business functions (management, marketing, finance, exporting, importing).

Prerequisites: none

This course examines basic management concepts and principles, their historical development, and their application to modern organizations. Topics covered include planning, organizing, decision making, leadership, control, and organizational change. In addition, the course includes an introduction to business ethics and social responsibility, human resource management, organizational design and organizational behavior.

Prerequisites: none

This course is designed to introduce students to the Management Information Systems and its application in organizations. The course will present to the students the information systems role to support the various managerial activities, and to help the students identify and evaluate various options in Management Information Systems.

Prerequisites: ISYS 101 or CIS 101

This course engages students in the study of the operations management function in manufacturing and service organizations. Students learn how to apply the basic analytical models to operation decisions involving topics such as scheduling, production technology, inventory management, quality assurance, just-in-time production, and others.

Prerequisites: ECON 207

MGMT 481 is an integrative course for COB majors. Its emphasis is on understanding the role of a general manager, which should include an operations and international component.

Prerequisites: FINA 362, MRKT 210, MGMT 230, MGMT 346

This course provides a basic understanding of marketing concepts with emphasis on the pricing, promotion, and distribution of need satisfying products and services in domestic and international markets. The format of the course consists of lectures, case discussions, application exercises, projects, exams, and in-class group assignments.

Prerequisites: none

Required of all Finance majors - Choose 12 Credit(s).

This course is intended for students who have completed FINA 362 (Business Finance) and wish to apply the introductory finance concepts and theories to practical problems in corporate finance and valuation. In particular, the course will use Microsoft Excel to cover topics such as time value of money, stock and bond valuation, cost of capital, capital budgeting, financial statement and ratio analysis, and option pricing and strategies.

Prerequisites: FINA 362

Formulation of investment policy of individuals and institutions, factors influencing the values of securities, and techniques of portfolio selection and management.

Prerequisites: FINA 362

Applications of financial principles and analytical tools through the use of case studies and problems from local businesses.

Prerequisites: FINA 362

Introduction to money and capital markets, instruments and institutions. Consideration of the management problems of financial institutions.

Prerequisites: FINA 362

Emphasis Common Core

The course examines the principles and procedures relating to the determination and computation of federal income taxes for an individual. Federal estate tax, gift tax, and income taxation of estates and trusts are also examined.

Prerequisites: ACCT 200, ACCT 210

Principles and techniques for estate planning. Examination of various retirement plans available, and the legal and tax environment impacting an estate's portfolio.

Prerequisites: FINA 100 or FINA 362

Fundamental concepts of personal financial management: insurance, budgeting, credit, savings, investments, retirement and estate planning, and consumer debt management.

Prerequisites: ACT 330, FINA 458, FINA 460, FINA 470. Select FINA 100 or FINA 362.

Fundamental concepts of employee benefits in relation to pertinent legislation, modern management techniques, and financial constraints that affect the formulation and implementaion of a benefit plan.

Prerequisites: FINA 100 or FINA 362

Examination of personal insurance exposures and policies including auto, health, home and life.

Prerequisites: none

4-Year Plan

The 4-Year Plan is a model for completing your degree in a timely manner. Your individual 4-Year plan may change based on a number of variables including transfer courses and the semester/year you start your major. Carefully work with your academic advisors to devise your own unique plan.
* Please meet with your advisor on appropriate course selection to meet your educational and degree goals.

First Year

Fall - 16 Credits

This course develops concepts and skills in algebra and introductory calculus needed to model applications in business, economics, social sciences and life sciences, using polynomials, exponentials, logarithms, linear systems, linear programming, sequences, series, derivatives and integrals.

Prerequisites: Satisfy Placement Table in this section, or grade of "C" (2.0) or better in either MATH 112 or MATH 115.

Goal Areas: GE-04

Emphasis on forces influencing employment and inflation. Current problems of the economy are stressed along with tools government has to cope with them.

Prerequisites: none

Goal Areas: GE-05

General Education Course * 3 credits

General Education Course * 3 credits

General Education Course * 3 credits

Spring - 15 Credits

Introduction to the personal computer as a productivity tool for business majors. Using Microsoft Office suite, students learn to be productive with document processing, spreadsheets, electronic presentations, and databases. Cannot be used toward any major or minor in Computer Information Science.

Prerequisites: none

The accounting process, financial statement preparation, and analysis. Includes the accounting cycle, asset, liability, and equity accounting. Emphasis on the use of accounting data.

Prerequisites: MATH 112 or MATH 115or MATH 121 or MATH 130 or MATH 181

Examines decision making by the individual firm, the determination of prices and wages, and current problems facing business firms.

Prerequisites: none

Goal Areas: GE-05

General Education Course * 3 credits

General Education Course * 3 credits

Second Year

Fall - 15 Credits

Application of law to business settings; the American court system; alternative dispute resolution; ethics and the social responsibility of business; fundamentals of legal reasoning; sources of law; constitutional, criminal, tort, and contract law; business associations.

Prerequisites: none

Basic statistical methods including measures of central tendency and dispersion, probability, probability distributions, sampling, problems of estimation and hypothesis testing in the case of one and two sample meaans and proportions. Chi-Square, one-way analysis of variance, simple regression and correlation analysis, and brief introduction to multiple regression analysis. Use of computer statistical packages required.

Prerequisites: MATH 112 or equivalent

Goal Areas: GE-02, GE-04

Preparation and analysis of cost-based management reports: use of cost information to make short-term operating decisions and long-term capital decisions.

Prerequisites: ACCT 200

This course is required for admission to the College of Business for all business majors. The purpose of the course is to provide students with an overview of COB majors, allow students to create an academic plan for graduation, and develop professional skills needed for future job placement. Topics include cover letter and resume writing, interviewing skills, the process of networking, the internship program, etiquette skills, and requirements for graduation.

Prerequisites: none

General Education Course * 3 credits

Spring - 15 Credits

This course provides a basic understanding of marketing concepts with emphasis on the pricing, promotion, and distribution of need satisfying products and services in domestic and international markets. The format of the course consists of lectures, case discussions, application exercises, projects, exams, and in-class group assignments.

Prerequisites: none

This course examines basic management concepts and principles, their historical development, and their application to modern organizations. Topics covered include planning, organizing, decision making, leadership, control, and organizational change. In addition, the course includes an introduction to business ethics and social responsibility, human resource management, organizational design and organizational behavior.

Prerequisites: none

An introduction to finance relating to problems, methods, and policies in financing business enterprise.

Prerequisites: ACCT 200

BUS 397 provides students an entrepreneurial real-world learning opportunity. Students gain additional insight into business concepts by applying the material in a real-world environment and gaining insight into the integrated nature of business. The class focuses on learning to develop and operate a business entity. Student teams will operate their own company, obtain an actual bank loan, and sell their chosen products throughout the semester. The class provides an opportunity to practice business skills such as communication, problem-solving, and leadership. Students learn what it takes for entrepreneurs to succeed while giving back through community service.

Prerequisites: Must be admitted to a major.

Required General Education Course * 3 credits

Third Year

Fall - 15 Credits

The course examines the principles and procedures relating to the determination and computation of federal income taxes for an individual. Federal estate tax, gift tax, and income taxation of estates and trusts are also examined.

Prerequisites: ACCT 200, ACCT 210

International dimensions of business: global business environment (economic, cultural, legal, political) and international business functions (management, marketing, finance, exporting, importing).

Prerequisites: none

Formulation of investment policy of individuals and institutions, factors influencing the values of securities, and techniques of portfolio selection and management.

Prerequisites: FINA 362

Introduction to money and capital markets, instruments and institutions. Consideration of the management problems of financial institutions.

Prerequisites: FINA 362

General Education Course * 3 credits

Spring - 15 Credits

This course is designed to introduce students to the Management Information Systems and its application in organizations. The course will present to the students the information systems role to support the various managerial activities, and to help the students identify and evaluate various options in Management Information Systems.

Prerequisites: ISYS 101 or CIS 101

This course engages students in the study of the operations management function in manufacturing and service organizations. Students learn how to apply the basic analytical models to operation decisions involving topics such as scheduling, production technology, inventory management, quality assurance, just-in-time production, and others.

Prerequisites: ECON 207

Examination of the fundamentals of the insurance industry; the risk management process; and commercial insurance exposures and policies including commercial property, general liability, and workers' compensation.

Prerequisites: none

General Education Course * 3 credits

Other Graduation Requirements Course * 3 credits

Fourth Year

Fall - 14 Credits

Examination of personal insurance exposures and policies including auto, health, home and life.

Prerequisites: none

MGMT 481 is an integrative course for COB majors. Its emphasis is on understanding the role of a general manager, which should include an operations and international component.

Prerequisites: FINA 362, MRKT 210, MGMT 230, MGMT 346

Other Graduation Requirements Course * 4 credits

General Education Course * 4 credits

Spring - 15 Credits

Fundamental concepts of personal financial management: insurance, budgeting, credit, savings, investments, retirement and estate planning, and consumer debt management.

Prerequisites: ACT 330, FINA 458, FINA 460, FINA 470. Select FINA 100 or FINA 362.

Applications of financial principles and analytical tools through the use of case studies and problems from local businesses.

Prerequisites: FINA 362

Elective Course in Major * 3 credits

Elective Course in Major * 3 credits

Other Graduation Requirements Course * 3 credits

Transfer Pathways

A Transfer Pathway is a partnership between the Minnesota community colleges and Minnesota State University, Mankato. The Pathway suggests a plan for students with a specific associate degree to complete the last two years for a designated bachelor’s degree.

Students who are transferring to Minnesota State Mankato from a Minnesota community college should meet with an advisor in your college advising office to ensure the Pathway is an appropriate option for completing your degree.

More information on Transfer Pathways is available at https://mnsu.edu/pathways/about/

Third Year

Fall - 15 Credits

This course develops concepts and skills in algebra and introductory calculus needed to model applications in business, economics, social sciences and life sciences, using polynomials, exponentials, logarithms, linear systems, linear programming, sequences, series, derivatives and integrals.

Prerequisites: Satisfy Placement Table in this section, or grade of "C" (2.0) or better in either MATH 112 or MATH 115.

Goal Areas: GE-04

This course is required for admission to the College of Business for all business majors. The purpose of the course is to provide students with an overview of COB majors, allow students to create an academic plan for graduation, and develop professional skills needed for future job placement. Topics include cover letter and resume writing, interviewing skills, the process of networking, the internship program, etiquette skills, and requirements for graduation.

Prerequisites: none

An introduction to finance relating to problems, methods, and policies in financing business enterprise.

Prerequisites: ACCT 200

International dimensions of business: global business environment (economic, cultural, legal, political) and international business functions (management, marketing, finance, exporting, importing).

Prerequisites: none

General Education Course * 3 credits

Spring - 15 Credits

This course is designed to introduce students to the Management Information Systems and its application in organizations. The course will present to the students the information systems role to support the various managerial activities, and to help the students identify and evaluate various options in Management Information Systems.

Prerequisites: ISYS 101 or CIS 101

The course examines the principles and procedures relating to the determination and computation of federal income taxes for an individual. Federal estate tax, gift tax, and income taxation of estates and trusts are also examined.

Prerequisites: ACCT 200, ACCT 210

Formulation of investment policy of individuals and institutions, factors influencing the values of securities, and techniques of portfolio selection and management.

Prerequisites: FINA 362

Fundamental concepts of employee benefits in relation to pertinent legislation, modern management techniques, and financial constraints that affect the formulation and implementaion of a benefit plan.

Prerequisites: FINA 100 or FINA 362

General Education Course * 3 credits

Fourth Year

Fall - 15 Credits

This course engages students in the study of the operations management function in manufacturing and service organizations. Students learn how to apply the basic analytical models to operation decisions involving topics such as scheduling, production technology, inventory management, quality assurance, just-in-time production, and others.

Prerequisites: ECON 207

Principles and techniques for estate planning. Examination of various retirement plans available, and the legal and tax environment impacting an estate's portfolio.

Prerequisites: FINA 100 or FINA 362

Introduction to money and capital markets, instruments and institutions. Consideration of the management problems of financial institutions.

Prerequisites: FINA 362

Examination of personal insurance exposures and policies including auto, health, home and life.

Prerequisites: none

General Education Course * 3 credits

Spring - 15 Credits

This course is intended for students who have completed FINA 362 (Business Finance) and wish to apply the introductory finance concepts and theories to practical problems in corporate finance and valuation. In particular, the course will use Microsoft Excel to cover topics such as time value of money, stock and bond valuation, cost of capital, capital budgeting, financial statement and ratio analysis, and option pricing and strategies.

Prerequisites: FINA 362

Fundamental concepts of personal financial management: insurance, budgeting, credit, savings, investments, retirement and estate planning, and consumer debt management.

Prerequisites: ACT 330, FINA 458, FINA 460, FINA 470. Select FINA 100 or FINA 362.

Applications of financial principles and analytical tools through the use of case studies and problems from local businesses.

Prerequisites: FINA 362

MGMT 481 is an integrative course for COB majors. Its emphasis is on understanding the role of a general manager, which should include an operations and international component.

Prerequisites: FINA 362, MRKT 210, MGMT 230, MGMT 346

General Education Course * 3 credits