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), 69 hours

PREFIX NO SHORT TITLE 

CR HRS

Miller College of Business core, 42 hours

ACC

BL
ECON
 

FIN
ISOM
 

MATH
MGT

MKG

201
202
260
201
202
221
300
135
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
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





42 hrs
Finance core (required of all finance majors), 18 hours 

FIN
  

 

  

301 
310 
320 
410 
420 
490

Intermediate Finance
Investments 1
Financial Markets 1
Investments 2
Financial Markets 2
Decision Making in Finance

3
3
3
3
3
3

     

18 hrs
Electives, 9 hours from:

ACC




BL
ECON




FIN





RMI
   

301
302
305
306
401
367
301
302
421
424
441
352
353
367
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)
Introduction to Econometrics (3)
The Theory of Monetary Policy (3)
Global Finance (3)
Short Term Finance (3)
Practicum in Finance (3)
Finance Internship (3 or 6)
Financial Statement Analysis (3)
Independent Study - Finance (3)
Principles of Risk Mgt & Ins (3)
Employee Benefits & Ret Plan (3)






9





69 hrs
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 in MATH 132, 161, 162, 165, or 166. MATH 132 simultaneously substitutes for the University Core Curriculum math requirement.

Proficiency in computer skills may be demonstrated by examination, or credit in ISOM 125 or CS 104 or its equivalent. The prerequisite for ISOM 135 is proficiency test required or ISOM 125 or CS 104. 

MAJOR IN RISK MANAGEMENT AND INSURANCE (BA/BS), 66 hours

PREFIX NO SHORT TITLE

CR HRS

Miller College of Business core, 42 hours

ACC

BL
ECON
 
  
FIN 
ISOM  
 

MATH
MGT  

MKG

201
202
260
201
202
221
300
135
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
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





42 hrs 
RMI core (required of all RMI majors), 15 hours  

RMI 
  
  
  
  
  
 

270
330
or
377
371
378
474

Principles of Risk Mgt & Ins  
Employee Benefits & Ret Plan (3) 

Operations of Ins Enterprises (3)
Life & Health Insurance
Commercial Risk Mgt & Ins 
Seminar in Risk Mgt & Ins 

3


3
3
3
3

     

15 hrs
Electives, 9 hours from:  

ACC 


BL
FIN
   


   
    
MATH 


MGT

MKG



RMI  
  
  

  
  

301
302
401
367
301
310
320
410
420
445
259
457
458
341
361
325
425
427
429
330
369
377
401
473
497

Intermediate Accounting 1 (3)
Intermediate Accounting 2 (3)
Introduction to Taxation (3)
Principles of Estate Planning (3)
Intermediate Finance (3)
Investments 1 (3) 
Financial Markets 1 (3) 
Investments 2 (3)
Financial Markets 2 (3)
Financial Statement Analysis (3) 
Intro to Mathematics Software (3)
Actuarial Models 1 (4)
Actuarial Models 2 (3)
Opportunity Identification (3)
Managing Human Resources (3)
Professional Selling (3)
Seminar in Adv Prof Selling (3)
Sales Management (3)
Sales Technology Application (3) 
Employee Benefits & Ret Plan (3) 
Risk Mgt & Ins Internship (3-6) 
Operations of Ins Enterprises (3) 
Health Care Risk Mangement (3)
Insurance Law (3) 
Independent Study in RMI (1-6)

9





66 hrs
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 in MATH 132, 161, 162, 165, or 166. MATH 132 simultaneously substitutes for the University Core Curriculum math requirement.

Proficiency in computer skills may be demonstrated by examination, or credit in ISOM 125 or CS 104 or its equivalent. The prerequisite for ISOM 135 is proficiency test required or ISOM 125 or CS 104. 

MINOR IN FINANCIAL PLANNING, 15 hours

PREFIX NO SHORT TITLE

CR HRS

ACC
BL
FIN
RMI   
 

401
367
310 
270
330

Introduction to Taxation    
Principles of Estate Planning
Investments 1
Principles of Risk Mgt & Ins
Employee Benefits & Ret Plan

3
3
3
3
3





15 hrs

MINOR IN RISK MANAGEMENT AND INSURANCE, 15 hours

Open only to non-business majors and Miller College of Business majors except those majoring in risk management and insurance. 
PREFIX NO  SHORT TITLE

CR HRS

RMI 

270
474 

Principles of Risk Mgt & Ins
Seminar in Risk Mgt & Ins 

3
3

9 hours from:     

FIN





BL
RMI





110
or
255
or
310
or
260 
330
369
371
377
378
473
497 

Personal Finance (3)

Introduction to Investments (3)

Investments 1 (3)

Principles of Business Law (3)
Employee Benefits & Ret Plan (3)
Risk Mgt & Ins Internship (3)
Life & Health Insurance (3)
Operations of Ins Enterprises (3)
Commercial Risk Mgt & Ins (3)
Insurance Law (3)
Independent Study in RMI (3)

9





15 hrs

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 credit hours allowed must be approved by the department chairperson. 
    Prerequisite: permission of the department chairperson. 
    A total of 6 hours of credit 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) 

243 Finance for New Ventures (3)
Examines financing constraints faced by new ventures, financing options available, financial principles for managing new ventures including capital budgeting and working capital; and exit strategies. 
    Prerequisite: ECON 116 or 201; MGT 241. 
    Open only to non-business majors. 

255 Introduction to Financial Investments (3)
Topics include financial markets and investment alternatives such as stocks, bonds, convertible securities, mutual funds, options, and futures. Market indexes (Dow Jones, etc.), market practices and timing, sources of financial data, and investing in an international environment will be discussed. 
    Not open to juniors and seniors majoring in business. 

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

300 Principles of Finance 1 (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: business majors: Miller College of Business admission requirements; Non-business majors: ECON 116 or 201, and ACC 201. 

301 Principles of Finance 2 (3)
Designed to provide the foundations for advanced courses in finance. Topics include the nature and methodology of finance, risk and return, portfolio theory, investment decisions, capital structure, dividend policy, and long-term financing decisions.
    Prerequisite: FIN 300 and ECON 221.

310 Principles of Investments 1 (3)
Introduces financial investments such as stocks, bonds, and mutual funds and their markets. The principles of diversification and trade-offs between risk and expected return are introduced. The efficient market hypothesis, portfolio theory and performance evaluation are examined.         
    Prerequisite: FIN 300.  

320 Financial Markets 1 (3)
Examine the role of financial markets and institutions in the U.S. financial system. Emphasizes interest rates, monetary policy, 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. 

353 Short-Term Financial Management (3)
Surveys short-term asset and liability management topics covered on the Certified Treasury Professional exam: managing the operating cycle, collections, disbursements, borrowing, investing, cash management, and back relationship management. 
    Prerequisite: FIN 300. 

367 Practicum in Finance (3)
A unique and practical educational experience designed for students with interests in investment management. Students will manage a portfolio and will be responsible for security selection, risk management, and designing the strategy that will drive the fund’s performance. A maximum of 3 credit hours will count as elective credit on the finance major. 
    Prerequisite: a grade-point average of 3.0; FIN 300; permission of the instructor. 
    A total of 6 hours of credit may be earned, but no more than 3 in any one semester or term. 

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 hours of credit may be earned. 

410 Principles of Investments 2 (3)
Advanced topics in investments include stock and bond security analysis and portfolio management techniques; valuation and use of forward, futures, and option contracts. 
    Prerequisite: FIN 300, 310. 

420 Financial Markets 2 (3)
Detailed study of institutions operating in the U.S. financial system. Focuses on the operation, regulation, performance, and management of bank-type institutions. 
    Prerequisite: FIN 300, 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. 

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 hours of credit 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 hours of credit 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 hours of credit 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)
The design, management, and financing of employee benefit plans. Topics include group life, group health, group disability, Social Security, and retirement plans. The implications for employers and employees, public and private approach to providing benefits, and regulatory and tax issues will be examined. 

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 hours of credit may be earned. 

371 Life and Health Insurance (3)
A study of important methods of handling loss of income risks affecting individuals. Life and health insurance, disability income, and annuities will be examined. Business uses of life and health insurance and disability income insurance will also be analyzed. 
    Prerequisite recommended: RMI 270. 

377 Operations of Insurance Enterprises (3)
The study of the decision making of insurers and consulting firms in areas such as pricing, underwriting, reinsurance, distribution, and loss control. 
    Prerequisite recommended: 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 recommended: 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 Seminar in Risk Management and Insurance (3)
Designed to meet the needs of the advanced student for study of current topics and problems in any risk management or insurance area. 
    Prerequisite: RMI 270 or permission of the department chairperson. 
    Open only to students with 57 or more credit hours. 

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 hours of credit may be earned.

Academic Systems
North Quadrangle, Room 360
Ball State University
Muncie, IN 47306

Hours: Monday-Friday 8 a.m.-5 p.m.