Campuses:
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Twin Cities Campus
Finance & Risk Management Insurance B.S.B.Finance
Curtis L. Carlson School of Management
The Finance & Risk Management Insurance major applies theory to practice using principles of finance, law, and mathematics in the transfer and reduction of risk for individuals, corporations, and government. Risk management is the practice of identifying the risks that affect a company's business and finding ways to mitigate and offset those risks. Risk management tools and techniques help corporations deal with a wide variety of issues and legal concerns.
Program Delivery
This program is available:
Admission Requirements
Freshman and transfer students are usually admitted to pre-major status
before admission to this major.
A GPA above 2.0 is preferred for the following:
Students in the school have no restrictions on declaring the major but must complete the five tool courses before continuing with the major requirements. Students from outside of the school must meet overall admission standards to enter this major, including completion of microeconomics, macroeconomics, and calculus prior to admission. Transfer students will also need to complete statistics and financial accounting before starting on the major coursework but may do so after admission.
For information about University of Minnesota admission requirements, visit the
Office of Admissions
website.
Required prerequisites
Tool Courses
Microeconomics
ECON 1101 - Principles of Microeconomics
[SOCS, GP]
(4.0 cr)
or
APEC 1101 - Principles of Microeconomics
[SOCS, GP]
(4.0 cr)
or
APEC 1101H - Principles of Microeconomics
[SOCS, GP]
(4.0 cr)
Macroeconomics
ECON 1102 - Principles of Macroeconomics
(4.0 cr)
or
APEC 1102 - Principles of Macroeconomics
(3.0 cr)
Calculus
MATH 1142 - Short Calculus
[MATH]
(4.0 cr)
or
MATH 1271 - Calculus I
[MATH]
(4.0 cr)
or
MATH 1571H - Honors Calculus I
[MATH]
(4.0 cr)
or
MATH 1371 - CSE Calculus I
[MATH]
(4.0 cr)
Accounting
ACCT 2051 - Introduction to Financial Reporting
(4.0 cr)
or
ACCT 2051H - Honors: Introduction to Financial Reporting
(4.0 cr)
Statistics
BA 2551 - Business Statistics in R
[MATH]
(4.0 cr)
or
STAT 3011 - Introduction to Statistical Analysis
[MATH]
(4.0 cr)
or
STAT 3021 - Introduction to Probability and Statistics
(3.0 cr)
or
STAT 3022 - Data Analysis
(4.0 cr)
or
PSY 3801 - Introduction to Psychological Measurement and Data Analysis
[MATH]
(4.0 cr)
or
SOC 3811 - Social Statistics
[MATH]
(4.0 cr)
or
IE 3521 - Statistics, Quality, and Reliability
(4.0 cr)
or
EE 3025 - Statistical Methods in Electrical and Computer Engineering
(3.0 cr)
or
CEGE 3102 - Uncertainty and Decision Analysis
(3.0 cr)
or
ANSC 3011 - Statistics for Animal Science
(4.0 cr)
General Requirements
All students in baccalaureate degree programs are required to complete general University and college requirements including writing and liberal education courses. For more information about University-wide requirements, see the
liberal education requirements.
Required courses for the major, minor or certificate in which a student receives a D grade (with or without plus or minus) do not count toward the major, minor or certificate (including transfer courses).
Program Requirements
At least 50% (23 cr) of the upper division major credits must be completed at the University of Minnesota Twin Cities campus.
Lower Division Requirements
Psychology
PSY 1001 - Introduction to Psychology
[SOCS]
(4.0 cr)
or
PSY 1001H - Honors Introduction to Psychology
[SOCS]
(4.0 cr)
Management
Students entering the program as freshmen or sophomores take MGMT 1001. Students who transfer in as juniors complete MGMT 3001 instead.
BA 1011 - Leading Self & Teams
(2.0 cr)
or
MGMT 1001H - Honors: Contemporary Management
(3.0 cr)
or
MGMT 3001 - Fundamentals of Management
(3.0 cr)
Immersion Core
Students complete the Immersion Core as a cohort.
While not currently required, students are strongly encouraged to complete BA 1001 Analyzing Business Problems Using Excel, prior to taking the Immersion Core.
SCO 3001 - Sustainable Supply Chain and Operations
(3.0 cr)
MGMT 3004 - Strategic Management
(3.0 cr)
FINA 3001 - Finance Fundamentals
(3.0 cr)
or
FINA 3001H - Honors: Finance Fundamentals
(3.0 cr)
MKTG 3001 - Principles of Marketing
(3.0 cr)
or
MKTG 3001H - Honors:Principles of Marketing
(3.0 cr)
Additional Core Requirements
Information Systems
IDSC 3001 - Information Systems & Digital Transformation
[TS]
(3.0 cr)
or
IDSC 3001H - Honors: Information Systems for Business Processes and Management
(3.0 cr)
Human Resources
HRIR 3021 - Human Capital Management
(3.0 cr)
or
HRIR 3021H - Honors: Human Capital Management
(3.0 cr)
or
IBUS 3021 - Human Capital Management
(4.0 cr)
Managerial Accounting
ACCT 3001 - Strategic Management Accounting
(3.0 cr)
or
IBUS 3002 - Strategic Management Accounting
(4.0 cr)
Business Communications
BA 3033W - Business Communication
[WI]
(3.0 cr)
or
IBUS 3033W - Business Communication in a Global Context
[WI]
(4.0 cr)
Major Courses
ACCT 5101 - Intermediate Accounting I
(4.0 cr)
FINA 4121 - Financial Markets and Interest Rates
(2.0 cr)
FINA 4221 - Principles of Corporate Finance
(2.0 cr)
FINA 4321 - Portfolio Management and Performance Evaluation
(2.0 cr)
FINA 4422 - Financial Modeling
(2.0 cr)
FINA 4522 - Options & Derivatives I
(2.0 cr)
INS 4105 - Corporate Risk Management
(2.0 cr)
INS 4101 - Employee Benefits
(2.0 cr)
INS 4205 - Insurance Theory and Practice
(2.0 cr)
Take 2 or more credit(s) from the following:
·
BLAW 3061 - Business Law Basics
(2.0 cr)
·
BLAW 3062 - Contract Law and Corporate Regulation
(2.0 cr)
·
FINA 4122 - Banks, Banking Services, and FinTech
(2.0 cr)
·
FINA 4234 - Mergers and Acquisitions In Action ? Process and Valuation
(2.0 cr)
·
FINA 4242W - Corporate Investment Decisions
[WI]
(4.0 cr)
·
FINA 4325 - Behavioral Finance
(2.0 cr)
·
FINA 4329 - Security Analysis Capstone
(2.0 cr)
·
FINA 4529 - Derivatives II Capstone
(2.0 cr)
·
FINA 4621 - The Global Economy (Macro)
(2.0 cr)
·
FINA 4622 - International Finance
(2.0 cr)
·
FINA 4920 - FinanceTopics
(2.0-4.0 cr)
·
FINA 5422 - Financial Econometrics and Computational Methods I
(2.0 cr)
·
FINA 5423 - Financial Econometrics and Computational Methods II
(2.0 cr)
·
IBUS 4125 - Global Banking: A Survey of Regulatory and Competitive Developments Post Financial Crisis
(4.0 cr)
·
MATH 4065 - Theory of Interest
(4.0 cr)
·
MATH 5067 - Actuarial Mathematics I
(4.0 cr)
International Experience
Students must complete an international experience as part of the program requirements. Short-term or semester-length programs may be used to meet this requirement. Students participate in International Experience (IE) 101 early in their program to begin planning.
Upper-division Writing Intensive within the major
Students are required to take one upper-division writing intensive course within the major. If that requirement has not been satisfied within the core major requirements, students must choose one course from the following list. Some of these courses may also fulfill other major requirements.
Take 0 - 1 course(s) from the following:
·
FINA 4242W - Corporate Investment Decisions
[WI]
(4.0 cr)
·
BA 3033W - Business Communication
[WI]
(3.0 cr)
·
IBUS 3033W - Business Communication in a Global Context
[WI]
(4.0 cr)
Program Sub-plans
A sub-plan is not required for this program.
Integrated BS in Business/Master in HRIR
This integrated program provides a unique opportunity for Carlson students to obtain an advanced degree more quickly and prepare themselves to lead in the shifting landscape of the global marketplace. The integrated program would allow Carlson undergraduate students to complete both their B.S.B. and their MHRIR in a total of five years.
Students will follow a normal Carlson undergraduate curriculum for their first three years. They would apply for the MHRIR program by February 1st of their junior year, and they would begin the MHRIR program as part of the MHRIR first-year cohort in the fall of their senior year. The senior year would have the integrated program students in all the first-year MHRIR core courses and the remaining undergraduate courses to complete their undergraduate degree.
Twelve credits of the MHRIR first-year would be applied to the undergraduate degree, including HRIR 6301, 6701, and 6501. Thirteen credits would apply to the M.HRIR degree, including HRIR 6001, 6401, 6441, and 6805.
Students will finish their MHRIR in the fifth year of the integrated program.
HRIR minors: please note that HRIR 6301 is considered equivalent to HRIR 3031 and 3032, HRIR 6401 and 6441 are equivalent to HRIR 3041 and 3042, HRIR 6701 is equivalent to HRIR 3071 and 3072, and HRIR 6501 is equivalent to HRIR 3051. It is recommended that students do not take the equivalent undergraduate HRIR courses if they plan to pursue the integrated degree.
BSB/Masters Human Resources and Industrial Relations
Students in the BSB/M.HRIR integrated degree program should complete the following courses in their senior year. These courses meet requirements for the Masters in Human Resources and Industrial Relations and twelve credits of the BSB Human Resources major/minor.
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Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Econ 1101/1165 ApEc 1101/1101H |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Econ 1101/1165 ApEc 1101/1101H |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Econ 1101/1165 ApEc 1101/1101H |
Grading Basis: | A-F only |
Typically offered: | Every Fall |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | ApEc 1102/Econ 1102/1105/1112 |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 3.0 [max 3.0] |
Course Equivalencies: | ApEc 1102/Econ 1102/1105/1112 |
Typically offered: | Every Spring |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Math 1271/Math 1281/Math 1371/ |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Math 1271/Math 1281/Math 1371/ |
Grading Basis: | A-F only |
Typically offered: | Every Fall |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Math 1271/Math 1281/Math 1371/ |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Acct 2050/ApEc 1251/Dbln 2051 |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Acct 2050/ApEc 1251/Dbln 2051 |
Grading Basis: | A-F or Aud |
Typically offered: | Every Spring |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | BA 2551/SCO 2550 |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | AnSc 3011/ESPM 3012/Stat 3011/ |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 3.0 [max 3.0] |
Course Equivalencies: | STAT 3021/STAT 3021H |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Psy 3801/Psy 3801H |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 3.0 [max 3.0] |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 3.0 [max 3.0] |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | AnSc 3011/ESPM 3012/Stat 3011/ |
Typically offered: | Every Fall |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Math 5651/Stat 5101 |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | PSTL 1281/Psy 1001/Psy 1001H |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | PSTL 1281/Psy 1001/Psy 1001H |
Grading Basis: | A-F only |
Typically offered: | Every Fall & Spring |
Credits: | 2.0 [max 3.0] |
Course Equivalencies: | Mgmt 1001/BA 1011 |
Grading Basis: | A-F only |
Typically offered: | Every Fall & Spring |
Credits: | 3.0 [max 3.0] |
Grading Basis: | A-F only |
Typically offered: | Every Fall & Spring |
Credits: | 3.0 [max 3.0] |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 3.0 [max 3.0] |
Course Equivalencies: | EPsy 3613/EPsy 5613 |
Grading Basis: | A-F only |
Typically offered: | Every Fall & Spring |
Credits: | 3.0 [max 3.0] |
Grading Basis: | A-F only |
Typically offered: | Every Spring |
Credits: | 1.0 [max 1.0] |
Course Equivalencies: | BA 2021/IBus 3006 |
Grading Basis: | S-N only |
Typically offered: | Every Fall & Spring |
Credits: | 2.0 [max 2.0] |
Course Equivalencies: | BA 2021/IBus 3006 |
Grading Basis: | A-F only |
Typically offered: | Every Spring |
Credits: | 3.0 [max 3.0] |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall & Spring |
Credits: | 3.0 [max 3.0] |
Course Equivalencies: | Mgmt 3004/Mgmt 4004W |
Grading Basis: | A-F only |
Typically offered: | Every Fall & Spring |
Credits: | 3.0 [max 3.0] |
Course Equivalencies: | ApEc 3501/Fina 3001/Fina 3001H |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall & Spring |
Credits: | 3.0 [max 3.0] |
Course Equivalencies: | ApEc 3501/Fina 3001/Fina 3001H |
Grading Basis: | A-F only |
Typically offered: | Every Fall |
Credits: | 3.0 [max 3.0] |
Course Equivalencies: | Mktg 3001/Mktg 3001H |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 3.0 [max 3.0] |
Course Equivalencies: | Mktg 3001/Mktg 3001H |
Grading Basis: | A-F only |
Typically offered: | Every Fall |
Credits: | 3.0 [max 3.0] |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 3.0 [max 3.0] |
Course Equivalencies: | IDSC 3001/IDSC 3001H |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall |
Credits: | 3.0 [max 3.0] |
Course Equivalencies: | HRIR 3021/HRIR 3021H/IBUS 3021 |
Grading Basis: | A-F only |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 3.0 [max 3.0] |
Course Equivalencies: | HRIR 3021/HRIR 3021H/IBUS 3021 |
Grading Basis: | A-F only |
Typically offered: | Every Spring |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | HRIR 3021/HRIR 3021H/IBUS 3021 |
Grading Basis: | A-F only |
Typically offered: | Every Spring |
Credits: | 3.0 [max 3.0] |
Course Equivalencies: | Acct 3001/IBus 3002 |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Acct 3001/IBus 3002 |
Grading Basis: | A-F only |
Typically offered: | Every Fall |
Credits: | 3.0 [max 3.0] |
Course Equivalencies: | BA 3033W/Mgmt 3033W/IBUS 3033W |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | BA 3033W/Mgmt 3033W/IBUS 3033W |
Grading Basis: | A-F only |
Typically offered: | Every Spring |
Credits: | 4.0 [max 4.0] |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 2.0 [max 2.0] |
Course Equivalencies: | Fina 4121/Fina 4121H |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall & Spring |
Credits: | 2.0 [max 2.0] |
Course Equivalencies: | Fina 4221/Fina 4241 |
Grading Basis: | A-F only |
Typically offered: | Every Fall & Spring |
Credits: | 2.0 [max 2.0] |
Course Equivalencies: | Fina 4321/Fina 4321H |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall & Spring |
Credits: | 2.0 [max 2.0] |
Grading Basis: | A-F only |
Typically offered: | Every Fall & Spring |
Credits: | 2.0 [max 2.0] |
Course Equivalencies: | Fina 4522/Fina 4523 |
Grading Basis: | A-F only |
Typically offered: | Every Fall & Spring |
Credits: | 2.0 [max 2.0] |
Course Equivalencies: | Ins 6105/ Ins 4105 |
Typically offered: | Every Fall & Spring |
Credits: | 2.0 [max 2.0] |
Course Equivalencies: | Ins 6101/ Ins 4101 |
Typically offered: | Every Fall |
Credits: | 2.0 [max 2.0] |
Typically offered: | Every Spring |
Credits: | 2.0 [max 2.0] |
Grading Basis: | A-F only |
Typically offered: | Every Fall & Spring |
Credits: | 2.0 [max 2.0] |
Grading Basis: | A-F only |
Typically offered: | Every Fall & Spring |
Credits: | 2.0 [max 2.0] |
Grading Basis: | A-F or Aud |
Typically offered: | Every Spring |
Credits: | 2.0 [max 2.0] |
Grading Basis: | A-F only |
Typically offered: | Every Fall |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Fina 4229/Fina 4242 |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall & Spring |
Credits: | 2.0 [max 2.0] |
Grading Basis: | A-F only |
Typically offered: | Every Spring |
Credits: | 2.0 [max 2.0] |
Course Equivalencies: | Fina 4322/Fina 4329 |
Prerequisites: | 4121 or 4121H, 4321 or 4321H, 4422, 4522, ACCT 5100 or ACCT 5101 |
Grading Basis: | A-F only |
Typically offered: | Every Fall & Spring |
Credits: | 2.0 [max 2.0] |
Course Equivalencies: | Fina 4529/Fina 4529H Fina 4551 |
Grading Basis: | A-F only |
Typically offered: | Every Spring |
Credits: | 2.0 [max 2.0] |
Course Equivalencies: | Fina 4621/Fina 4641 |
Grading Basis: | A-F only |
Typically offered: | Every Fall & Spring |
Credits: | 2.0 [max 2.0] |
Grading Basis: | A-F only |
Typically offered: | Every Fall & Spring |
Credits: | 2.0 -4.0 [max 10.0] |
Grading Basis: | A-F or Aud |
Typically offered: | Periodic Fall & Spring |
Credits: | 2.0 [max 2.0] |
Course Equivalencies: | Fina 5422/MSF 6422 |
Grading Basis: | A-F only |
Typically offered: | Every Fall |
Credits: | 2.0 [max 2.0] |
Course Equivalencies: | Fina 5423/MSF 6423 |
Grading Basis: | A-F only |
Typically offered: | Every Fall |
Credits: | 4.0 [max 4.0] |
Grading Basis: | A-F only |
Typically offered: | Every Fall |
Credits: | 4.0 [max 4.0] |
Grading Basis: | A-F only |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Typically offered: | Every Fall |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | Fina 4229/Fina 4242 |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall & Spring |
Credits: | 3.0 [max 3.0] |
Course Equivalencies: | BA 3033W/Mgmt 3033W/IBUS 3033W |
Grading Basis: | A-F or Aud |
Typically offered: | Every Fall, Spring & Summer |
Credits: | 4.0 [max 4.0] |
Course Equivalencies: | BA 3033W/Mgmt 3033W/IBUS 3033W |
Grading Basis: | A-F only |
Typically offered: | Every Spring |
Credits: | 3.0 [max 3.0] |
Grading Basis: | A-F only |
Typically offered: | Every Fall & Spring |
Credits: | 4.0 [max 4.0] |
Grading Basis: | A-F only |
Typically offered: | Every Fall |
Credits: | 4.0 [max 4.0] |
Grading Basis: | A-F only |
Typically offered: | Every Fall |
Credits: | 0.5 -1.0 [max 1.0] |
Grading Basis: | S-N only |
Typically offered: | Every Fall & Spring |
Credits: | 2.0 [max 2.0] |
Grading Basis: | A-F only |
Typically offered: | Every Fall |
Credits: | 2.0 [max 2.0] |
Grading Basis: | A-F only |
Typically offered: | Every Fall |
Credits: | 3.0 [max 3.0] |
Grading Basis: | A-F only |
Typically offered: | Every Fall & Spring |
Credits: | 3.0 [max 3.0] |
Grading Basis: | A-F only |
Typically offered: | Every Spring |