Undergraduate Course Catalog

Finance and Insurance

M. Athavale, Chairperson 

The Finance and Insurance department offers programs to students who wish to prepare for careers in Finance (FIN) and Risk Management and Insurance (RMI).  

The finance curriculum examines the creation, preservation and management of wealth by acquiring and allocating funds, and managing liquidity. Students gain analytical skills and an understanding of financial markets, institutions, corporate finance, investments and portfolio management. Career opportunities include cash and credit manager, financial analyst, investment analyst, portfolio manager, securities broker, and financial planner.

The risk management and insurance curriculum is designed to provide the student with an understanding of how risk is managed by individuals and businesses. Students gain an understanding of life and health insurance, personal insurance, commercial insurance, insurance law, and enterprise risk management. Career opportunities include underwriters, claim adjusters, agents, and risk managers.

Students can also pursue minors in financial planning and risk management and insurance. These minors introduce the student to basic concepts in the respective field and are designed to augment a student’s major field of study or to satisfy a student’s curiosity about the discipline.


MAJOR IN FINANCE (BA/BS), 72 credits

PREFIX NO SHORT TITLE 

CREDITS

Miller College of Business core, 45 credits

ACC

BL
ECON
 

FIN
ISOM

 

MATH
MGT

MKG

201
202
260
201
202
221
300
125
210
249
351
132
300
491
300

Principles of Accounting 1
Principles of Accounting 2
Principles of Business Law
Elementary Microeconomics
Elementary Macroeconomics
Business Statistics
Principles of Finance
Micro Apps for Business
Business Information Systems
Foundations of Business Comm
Operations Management
Brief Calculus
Managing Behavior in Org
Bus Policy and Strategy Mgt
Principles of Marketing

3
3
3
3
3
3
3
3
3
3
3
3
3
3
3





45 crs
Finance core (required of all finance majors), 18 credits 

FIN
  

 

  

301 
310 
320 
410 
420 
490

Intermediate Finance
Investments 1
Markets and Institutions
Portfolio Management
Treasury Management
Decision Making in Finance

3
3
3
3
3
3

     

18 crs
Electives, 9 credits from

ACC




BL
ECON




FIN



RMI
   

301
302
305
306
401
367
301
302
421
424
441
352
369
445
497
270
330

Intermediate Accounting 1 (3)
Intermediate Accounting 2 (3)
Accounting Info Systems (3)
Intermediate Mgmt Accounting (3)
Introduction to Taxation (3)
Principles of Estate Planning (3)
Intermediate Microeconomics (3)
Intermediate Macroeconomics (3)
Mathematical Economics (3)
Econometrics (3)
The Theory of Monetary Policy (3)
Global Finance (3)
Finance Internship (3 or 6)
Financial Statement Analysis (3)
Independent Study - Finance (3)
Principles of Risk Mgt and Ins (3)
Employee Benefits and Ret Plan (3)






9





72 crs
To pursue this program, students must have sufficient mathematical preparation to meet the prerequisite for ECON 221. The prerequisite for ECON 221 is a C or better grade in MATH 111 or a passing grade (D- or better) in MATH 132, 161, 162, 165, or 166 and a C or higher grade in ISOM 125. MATH 132 simultaneously substitutes for the University Core Curriculum math requirement. 

MAJOR IN RISK MANAGEMENT AND INSURANCE (BA/BS), 63 credits

PREFIX NO SHORT TITLE

CREDITS

Miller College of Business core, 45 credits

ACC

BL
ECON
 
  
FIN 
ISOM 
 
 

MATH
MGT  

MKG

201
202
260
201
202
221
300
125
210
249
351
132
300
491
300

Principles of Accounting 1 
Principles of Accounting 2
Principles of Business Law
Elementary Microeconomics
Elementary Macroeconomics  
Business Statistics 
Principles of Finance
Micro Apps for Business
Business Information Systems
Foundations of Business Comm 
Operations Management 
Brief Calculus
Managing Behavior in Org
Bus Policy and Strategy Mgt
Principles of Marketing

3
3
3
3
3
3
3
3
3
3
3
3
3
3
3





45 crs 
RMI core (required of all RMI majors), 15 credits  

RMI 
  
              
             
              

270
330
377
378
474

Principles of Risk Mgt and Ins  
Employee Benefits and Ret Plan
Operations of Ins Enterprises
Commercial Risk Mgt and Ins 
Seminar in Risk Mgt and Ins 

3
3
3
3
3

     

15 crs
Elective, 3 credits from  

ACC 
FIN
 
    
MGT
MKG
RMI    
  

  

401
320
410
445
361
325
369
401
473
497

Introduction to Taxation (3)
Markets and Institutions (3) 
Portfolio Management (3)
Financial Statement Analysis (3)
Managing Human Resources (3)
Professional Selling (3)
Risk Mgt and Ins Internship (3-6) 
Health Care Risk Mangement (3)
Insurance Law (3) 
Independent Study in RMI (1-6)

3





63 crs
To pursue this program, students must have sufficient mathematical preparation to meet the prerequisite for ECON 221. The prerequisite for ECON 221 is a C or better grade in MATH 111 or a passing grade (D- or better) in MATH 132, 161, 162, 165, or 166 and a C or higher grade in ISOM 125. MATH 132 simultaneously substitutes for the University Core Curriculum math requirement. 

MINOR IN FINANCIAL PLANNING, 27 credits

Open to all majors.
 
PREFIX NO SHORT TITLE

CREDITS

ACC

BL

FIN


RMI   
 

201
401
260
367
300
310 
480
270
330

Principles of Accounting 1
Introduction to Taxation    
Principles of Business Law
Principles of Estate Planning
Principles of Finance
Investments 
Financial Planning Process
Principles of Risk Mgt and Ins
Employee Benefits and Ret Plan

3
3
3
3
3
3
3
3
3





27 crs

MINOR IN RISK MANAGEMENT AND INSURANCE, 15 credits

Open to all majors, except risk management and insurance
PREFIX NO  SHORT TITLE

CREDITS

RMI 

270
378
474 

Principles of Risk Mgt and Ins
Commercial Risk Mgt and Ins
Corporate Risk Management 

3
3
3

3 credits from
   
BL
FIN
260
300
Principles of Business Law (3)
Principles of Finance (3)

3
3 credits from
   

RMI



330
369
377
473

Employee Benefits and Ret Plan (3)
Risk Mgt and Ins Internship (3)
Operations of Ins Enterprises (3)
Insurance Law (3)

3





15 crs

BUSINESS LAW (BL)

160 Law of Personal Finance (3)
Examines the law affecting a person’s everyday financial dealings and legal disputes, including topics such as consumer rights, legal liability, employee rights, personal bankruptcy, debtor-creditor rights, basis of property ownership, and landlord-tenant disputes. 

260 Principles of Business Law (3)
The nature, role, structure, and historical development of the legal system. The essential elements of legal liability, contracts, and government regulation of business. Law, ethics, and commercial relations that constitute the legal environment of business. 

362 The Law of Business Associations (3)
The principles of business law applicable to agencies including employer and employee rights and obligations, partnerships including limited partnership, corporations including fiduciary obligations of directors, security regulations, bankruptcy, and corporate reorganization in bankruptcy. 
    Prerequisite: BL 260. 

363 Uniform Commercial Code Law (3)
Principal articles of the code including sales, commercial paper, and security interests, in addition to creditors’ rights and property law. Includes state and federal consumer protection laws as they affect commercial law. 
    Prerequisite: BL 260. 

367 Estate Planning and Administration (3)
An introduction to problems associated with planning of financial resources during working life, retirement, and after the death of the principal income producer. Included are techniques for fact gathering, tax principles, use of trusts, and will drafting. 
    Prerequisite: BL 260. 

497 Independent Study in Business Law (1-6)
An opportunity for students with superior scholastic records to study some special phase of business law. The topic selected, methods of study, and credits allowed must be approved by the department chairperson. 
    Prerequisite: permission of the department chairperson. 
    A total of 6 credits may be earned.

FINANCE (FIN)

101 Personal Finance for Fiscal Wellness (1)
A structured collection of personal finance topics relevant to the needs of young adults: personal budgets and financial plans; services available for saving, borrowing, and insurance; and taxes. The importance of being fiscally informed in the transition from college to the workplace and planning for future financial goals are emphasized. 
    Not open to students who have credit in FIN 110. 

110 Personal Finance (3)
The fundamental principles of general business and related economic concepts are considered from the consumer’s point of view. Some of the topics studied are consumer buying and the use of credit, banking, insurance, investment, budgeting, and taxation. Core Transfer Library: Professional/Occupational (IPO 1811) 

299X Experimental/Developmental Topics (1-6)
Topics relevant to the discipline. Course titles will be announced before each semester. 
    A total of 6 credits may be earned. 

300 Principles of Finance (3)
Students will study the principles of financial management. Decisions to invest (capital budgeting), finance (cost of capital), manage on a daily basis (working capital management), and long-term planning will be the focus. Ethical, global, and technological issues, together with functional integration in business decisions will be discussed where appropriate.
    
Prerequisite: C or better grade in ACC 201.

301 Intermediate Finance (3)
Designed to provide the foundations for advanced courses in finance and valuation using a modeling framework.
    Prerequisite: FIN 300 and ECON 221.

310 Investments (3)
Introduces financial investments such as stocks, bonds, mutual funds, and derivatives. The principles of diversification and trade-offs between risk and expected return are introduced. Efficient market hypothesis and portfolio theory are examined.
    Prerequisite: FIN 300.

320 Markets and Institutions (3)
Examine the role of financial markets and institutions in the U.S. financial system. Emphasizes interest rates, the functioning of debt, equity and derivative security markets, and discusses the impact of technology, regulation, globalization, and product innovation.
    Prerequisite: FIN 300.

352 Global Finance (3)
Financial problems and opportunities that confront the management of global firms. Sources and instruments of global finance, import and export financing, interrelationship of governmental and global agencies, and the current status of some. 
    Prerequisite: FIN 300. 

369 Internship in Finance (3 or 6)
Professional practice during a summer or semester as an intern in an approved program with a banking institution, business firm, or government agency for pay under the supervision of the finance department. Requires periodic written reports of job experience. 
    Prerequisite: FIN 300; second-semester junior or senior standing; permission of the department chairperson. 
    A total of 6 credits may be earned. 

410 Portfolio Management (3)
Advanced topics in investments including security analysis and portfolio management techniques, valuation and performance evaluation.
    
Prerequisite: FIN 300 and 310.

420 Treasury Management (3)
Detailed study of short-term asset and liability management in a financial markets, instruments, institutions, and processes framework.
    
Prerequisite: FIN 300 and 320.

445 Financial Statement Analysis (3)
Provides a conceptual framework for interpreting and analyzing financial statements by integrating accounting and financial concepts, and using this information to analyze and value businesses. 
    Prerequisite: FIN 300. 

480 Financial Planning Process and Case Development (3)
Students will study the financial planning process; the ethical, legal, and regulatory environment; appropriate communication; the standards of professional conduct; and other topics of relevance in financial planning and decision making. Students will integrate employee benefits and retirement planning, investments, risk management and insurance, income taxes, and estate planning into a comprehensive financial plan.
    
Prerequisite: ACC 401 and BL 367 and FIN 310 and RMI 270 and RMI 330; or permission of the department chairperson.

490 Decision Making in Finance (3)
Capstone course for finance majors focusing on decision making in different types of organizations. An integration of financial principles, techniques, and strategic issues. 
    Prerequisite: FIN 301 and 310 and 320. 

497 Independent Study in Finance (3)
Designed for academically qualified students who want to study some phase of finance. An intensive individualized program of reading, researching, or analyzing various finance topics under the guidance of a faculty member.
    Prerequisite: FIN 301, 410, 420; senior standing; permission of the department chairperson.
    A total of 6 credits may be earned, but no more than 3 in any one semester or term.

REAL ESTATE (RE)

230 Real Estate Principles (3)
Economic import of real estate, real estate characteristics, land-use and environmental controls, legal concerns of real estate, methods of valuation, mortgage credit sources, secondary mortgage markets and financing techniques, investment analysis, land development, and real estate operations. 
    Prerequisite: completion of general studies math requirement or permission of the instructor. 

331 Real Estate Construction Law and Finance (3)
The financial and legal implication of the contracts used in real estate construction and development. Examines contracts, techniques, and strategies in the construction and financing of real estate development projects and the role of banks, bonding, and mortgage markets. Gives students an introduction to real estate law and finance important to real estate construction and development projects. 
    Not open to students who have credit in TCST 420. 

332 Legal Aspects of Real Estate (3)
Elementary concepts of real estate law and practice, particularly in the state of Indiana. Other topics include estates, property, leaseholds and ownerships, easements, transfers, escrows, contracts, zoning, brokers’ regulations, license law, and title insurance. 

369 Internship in Real Estate (1-6)
Professional practice during a summer or semester as an intern in an approved program in the real estate industry or government agency for pay under the supervision of the finance department. Requires periodic written reports of job experience. 
    Prerequisite: permission of the department chairperson. 
    A total of 6 credits may be earned. 

497 Independent Study in Real Estate (3)
Designed for the academically qualified who wish to study some phase of real estate. Intensive individualized program of reading, research, or analysis of various real estate topics under the guidance of a faculty member.
    Prerequisite: permission of the department chairperson.
    A total of 6 credits may be earned, but no more than 3 in any one semester or term.

RISK MANAGEMENT AND INSURANCE (RMI)

270 Principles of Risk Management and Insurance (3)
An analysis of the risk management process, individual and business property and liability loss exposures, social insurance programs, and effective use of financial planning products such as pension plans and life, health, and disability insurance. 

330 Employee Benefits and Retirement Planning (3)
Examines individual and group life, health, and disability insurance, annuities, employee benefit plans, retirement plans, and social insurance programs.
    
Prerequisite: RMI 270.

369 Internship in Risk Management and Insurance (3-6)
Professional practice during the summer or semester as an intern in an approved program in risk management or insurance under the supervision of the risk management and insurance faculty. 
    Prerequisite: permission of the risk management and insurance faculty. 
    A total of 6 credits may be earned. 

377 Operations of Insurance Enterprises (3)
The study of insurance companies, including surplus lines organizations, in areas such as pricing, underwriting, reinsurance, distribution, and loss control.
    
Prerequisite: RMI 270.

378 Commercial Risk Management and Insurance (3)
A study of appropriate risk control techniques, noninsurance risk transfer techniques, and insurance as tools of risk management for commercial property, liability, marine, auto, and workers compensation exposures.
    Prerequisite: RMI 270.

401 Health Care Risk Management (3)
Focuses on concepts and principles of health care risk management. Current trends and issues in managing health care risks will be examined. 
    Prerequisite: RMI 270 or permission of the department chairperson.

473 Insurance Law (3)
The law as it is applied to the insurance industry emphasizing the law of torts as the foundation of the insurer’s liability, the law of contracts and agency as applied to the policy, and government regulation of insurance. 
    Prerequisite: RMI 270; BL 260. 

474 Corporate Risk Management (3)
Examines corporate risk management, the application of the risk management process to organizations, and other topics related to the industry.
    
Prerequisite: RMI 378.

497 Independent Study in Risk Management and Insurance (1-6)
Designed for academically qualified students who want to study some phase of risk management and insurance. An individualized program of reading, research, or analyzing various risk management and insurance topics under the guidance of a faculty member. 
    Prerequisite: permission of the RMI faculty. 
    A total of 6 credits may be earned.




Academic Systems
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Ball State University
Muncie, IN 47306

Hours: Monday-Friday 7:30 am-4:00 pm