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Crookston Campus

Finance Minor

Business
Academic Affairs
  • Program Type: Undergraduate minor related to major
  • Requirements for this program are current for Fall 2023
  • Required credits in this minor: 25
The finance minor is available on campus and online and focuses on tools to solve business problems while giving students insight to understand financial and economic behavior. As an employment sector with sustainable future growth, the minor enhances the career prospects of our graduates. Students will be introduced to the principles of finance and how to apply these principles to analyze several financial issues. Students will develop the problem-solving and quantitative skills that are widely used in business. The minor in finance is available to all undergraduate students at UMC. Several electives are offered to provide a specialized education for students seeking the finance minor. Program outcomes: - Describe the dimensions of performance and risk relevant to financial services companies; - Assess consumer financial needs and the mechanisms available for fulfilling these needs; - Describe and apply financial concepts, theories, and tools; - Evaluate the role of technology and the legal, ethical, and economics environment as it relates to financial services; - Develop personal financial plans for clients.
Program Delivery
This program is available:
  • via classroom (the majority of instruction is face-to-face)
  • completely online (all program coursework can be completed online)
  • primarily online (at least 80% of the instruction for the program is online with short, intensive periods of face-to-face coursework)
  • partially online (between 50% to 80% of instruction is online)
Minor Requirements
Finance Core
Take 7 or more course(s) totaling 19 or more credit(s) from the following:
· ACCT 2101 - Principles of Accounting I (3.0 cr)
· ACCT 2102 - Principles of Accounting II (3.0 cr)
· ECON 2102 - Macroeconomics [HI/BEH/SSC] (3.0 cr)
· FIN 3105 - Corporate Finance (3.0 cr)
· FIN 3120 - Money, Financial Markets and Institutions (3.0 cr)
· GBUS 1005 - Orientation to Online Learning (1.0 cr)
· AGEC 3640 - Agricultural Finance and Valuation (3.0 cr)
or FIN 3100 - Managerial Finance (3.0 cr)
Finance Electives
Take 2 or more course(s) totaling 6 or more credit(s) from the following:
· ACCT 3201 - Intermediate Accounting I (4.0 cr)
· ACCT 4404 - Income Tax I (3.0 cr)
· AGEC 2310 - Agribusiness Financial Records (3.0 cr)
· AGEC 3640 - Agricultural Finance and Valuation (3.0 cr)
· AGEC 4740 - Grain and Livestock Marketing (3.0 cr)
· FIN 3020 - International Financial Management (3.0 cr)
· FIN 3110 - Retirement and Estate Planning (3.0 cr)
· FIN 3115 - Insurance and Risk Management (3.0 cr)
· FIN 3125 - Investments (3.0 cr)
· FIN 3126 - Financial Modeling and Valuation (3.0 cr)
· HSM 3270 - Health Care Finance (3.0 cr)
· SRM 3012 - Sport Finance and Economics (3.0 cr)
Program Sub-plans
A sub-plan is not required for this program.
Online
The finance minor online has the same curriculum as the on-campus finance minor. The finance minor focuses on tools to solve business problems while giving students insight to understand financial and economic behavior. As an employment sector with sustainable future growth, the minor enhances the career prospects of our graduates. Students will be introduced to the principles of finance and how to apply these principles to analyze several financial issues. Students will develop the problem-solving and quantitative skills that are widely used in business. The minor in finance is available to all undergraduate students at UMC. Several electives are offered to provide a specialized education for students seeking the finance minor. Program outcomes: - Describe the dimensions of performance and risk relevant to financial services companies; - Assess consumer financial needs and the mechanisms available for fulfilling these needs; - Describe and apply financial concepts, theories, and tools; - Evaluate the role of technology and the legal, ethical, and economics environment as it relates to financial services; - Develop personal financial plans for clients.
 
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ACCT 2101 - Principles of Accounting I
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Concepts of accounting cycle, cash, accounts receivable, inventories, and plant assets. prereq: Math 1031
ACCT 2102 - Principles of Accounting II
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Modern accounting concepts. Liabilities, partnerships, corporations, statement of cash flows, and financial statements analysis. Enforced prereq: ACCT 2101
ECON 2102 - Macroeconomics (HI/BEH/SSC)
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Big picture of economy. Determinants of national income, national income accounting, unemployment, inflation, economic growth. Classical, Keynesian, recent theoretical approaches to modifying economic activity. Monetary/fiscal policies. International economic relations.
FIN 3105 - Corporate Finance
Credits: 3.0 [max 3.0]
Typically offered: Spring Even Year
How corporations/other business entities raise capital to finance business endeavors. Legal rules. Transactional/litigation-related aspects of corporate finance. Accounting/valuation. Institutions/players in financial markets. prereq: Fin 3100
FIN 3120 - Money, Financial Markets and Institutions
Credits: 3.0 [max 3.0]
Typically offered: Every Fall
Principles/roles of money, banking, financial system. Interest rate, monetary policies of central banks. Financial instruments, asset pricing, determination/behavior of interest rates/exchange rates. Management, structure regulation of banking system.
GBUS 1005 - Orientation to Online Learning
Credits: 1.0 [max 1.0]
Typically offered: Every Fall, Spring & Summer
Introduction to UMC policies, e-mail, virtual private network, online library resources, writing scholarly reports, APA referencing, netiquette, networking in online environment, group work in online environment.
AGEC 3640 - Agricultural Finance and Valuation
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Analysis of investment strategies and financing policies for farm and agribusiness firms. Liquidity, solvency, profitability. Financial documents, legal aspects of credit, financial intermediaries serving agriculture, property valuation, estate planning. Enforced prereq: AGEC 3540
FIN 3100 - Managerial Finance
Credits: 3.0 [max 3.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Principle financial considerations/ratio analysis of business. Cost of capital, asset management, capital structure planning, financial statement analysis, working capital management, short-term financing, budgeting. Integrates theory/applications. prereq: [ACCT 2102 or 3010], [ECON 2101, MATH 1031] or instructor consent
ACCT 3201 - Intermediate Accounting I
Credits: 4.0 [max 4.0]
Typically offered: Every Fall
Financial statements, time value of money, current/long-term assets, intangible assets. Enforced prereq: ACCT 2102
ACCT 4404 - Income Tax I
Credits: 3.0 [max 3.0]
Typically offered: Fall Odd Year
Income tax laws as they relate to individuals. Enforced prereq: ACCT 2102
AGEC 2310 - Agribusiness Financial Records
Credits: 3.0 [max 3.0]
Typically offered: Every Fall, Spring & Summer
Applied course in record keeping. Use of computerized system to record business transactions; manage agricultural inventories, receivables, payables, and payroll; and generate coordinated financial statements.
AGEC 3640 - Agricultural Finance and Valuation
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Analysis of investment strategies and financing policies for farm and agribusiness firms. Liquidity, solvency, profitability. Financial documents, legal aspects of credit, financial intermediaries serving agriculture, property valuation, estate planning. Enforced prereq: AGEC 3540
AGEC 4740 - Grain and Livestock Marketing
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Students develop commodity marketing plan for grain or livestock farming operations. Topics include cash markets, grid pricing, grade premiums/discounts, contracting, crop/livestock insurance, and futures/options.
FIN 3020 - International Financial Management
Credits: 3.0 [max 3.0]
Typically offered: Fall Odd Year
International financial markets with risks/benefits of international operations. Compare operation of global companies with domestic companies regarding foreign exchange fluctuations, political risks, financial tools to address risks, capital budgeting, tax, working capital structure, investment decisions, company's valuation.
FIN 3110 - Retirement and Estate Planning
Credits: 3.0 [max 3.0]
Typically offered: Fall Even Year
Accumulation, conservation, distribution of client?s acquired property. Estate planning techniques. Identification/use of appropriate forms of wills/trusts. Methods to reduce freezing or eliminating Unified Transfer Tax. Post-mortem planning practices. Retirement planning methods and techniques. Benefits and shortcomings of the various retirement methods.
FIN 3115 - Insurance and Risk Management
Credits: 3.0 [max 3.0]
Typically offered: Spring Even Year
Process for handling business risks. Property/liability risks, employee benefit planning, international loss exposures. Risk identification/evaluation. Risk control/financing techniques.
FIN 3125 - Investments
Credits: 3.0 [max 3.0]
Typically offered: Spring Odd Year
Key concepts in investment theory from perspective of portfolio manager. Investment theory/problems. Current academic work/application for portfolio choice. prereq: Mgmt 3100
FIN 3126 - Financial Modeling and Valuation
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
This is a case and project-based course employing intermediate to advanced level Excel and quantitative methods. The cases/issues will be interdisciplinary. Students will become proficient at valuing existing assets, adding value to existing assets, and projecting value for future assets. Enforced prereq: ACCT 2101 Recommended prereq: ACCT 3100, 3105
HSM 3270 - Health Care Finance
Credits: 3.0 [max 3.0]
Typically offered: Every Fall & Spring
Develops proficiency in applying financial techniques used in the health care decision-making process. Techniques include breakeven analysis, cost allocation, pricing, budgeting, capital budgeting, and revenue cycle management. Enforced prereqs: Acct 2102, CA 1020
SRM 3012 - Sport Finance and Economics
Credits: 3.0 [max 3.0]
Typically offered: Every Spring
Traditional/innovative methods of revenue acquisition, financial management in sports organizations. Broader economic impact/implications of sport in society. Importance of budgeting/finance in sports industry.