Undergraduate Catalog 2023-2024

Finance, Bachelor of Science (664)

Department website: http://www.wku.edu/finance


Program Coordinator

Indudeep S. Chhachhi, indudeep.chhachhi@wku.edu, (270) 745-2018

Why Choose Finance?

Finance is the art and science of managing money. Today's financial managers play a critical role in the process of raising and spending money, whether it is in a corporate, government, or personal setting. Career opportunities in Finance are both numerous and exciting in our fast-paced global marketplace.

Finance offers both a major and a minor, and within the major there are five concentrations: 1. Business Finance - General, 2. Business Finance - Investment, 3. Business Finance - Analyst, 4. Business Finance - Financial Services, and 5. Personal Financial Planning. In addition, we offer two Certificates: a Certificate in Financial Planning and an Accredited Financial Counselor Certificate. Certification opportunities are available to current students and individuals who already hold an undergraduate degree.

Business Finance majors generally start the program in the Business Finance - General concentration. The General concentration allows students to choose topics of interest among the Finance courses before deciding whether to specialize. Please contact Professor Chhachhi for additional information about the Business Finance - General Concentration.

The decision to choose a particular Business Finance Concentration generally takes place in a student's junior year with guidance from Finance faculty and GFCB advisors.

The Investment Concentration focuses on the proper use of investment instruments, how financial markets work, proper portfolio construction and the allocation of resources to meet financial goals. Students are exposed to both theoretical concepts and applied investments. Important skills and responsibilities include formulating investment strategies, making investment decisions/recommendations, managing portfolios, and managing investment risks. Please contact Professor Ling Lo or the department chair for more information about the Business Finance - Investment Concentration.

The Analyst Concentration is designed to develop financial and data analysis skills necessary to support various analyst roles including financial analyst, risk analyst, valuation analyst, and investment analyst. The Analyst Concentration focuses on skills for gathering and parsing financial data, analyzing and interpreting financial statements, evaluating a company's performance, and communicating findings.

Analyst jobs typically involve a great deal of data analytics and the use of financial technology (a fast-growing area in finance). The role of an analyst is often both analytical and client-facing. Students pursuing the Analyst Concentration can expect to have a range of job functions and career paths across multiple industries from which to choose.

The Analyst Concentration also completes the requirements for a Certificate in Applied Data Analytics. Note: Students must apply for the certificate after completing requirements. Please contact Professor Joseph or the department chair for more information about the Business Finance - Analyst Concentration.

The Financial Services Concentration provides students with analytical and problem-solving skills to prepare students for careers in the financial services industry. Financial Services is the sector of the economy that addresses the management of money. Banks and other depository institutions, insurance companies, finance companies, and mortgage lending companies are examples of companies in the financial services industry.

Possible careers in financial services include bank examiner, credit analyst, insurance adjuster, insurance agent, depository institution management and underwriter. Please contact Professor Brown or the department chair for more information about the Business Finance - Financial Services Concentration. 

Financial Planning concentrates on the various aspects of personal financial planning for individuals including investing, personal budgeting, tax planning, retirement planning, estate planning, and insurance.

Students wishing to pursue two concentrations in Business Finance and Personal Financial Planning (PFP) should combine the Business Finance - General Concentration with the PFP Concentration and use PFP courses to meet the 15 hours of elective credits for the Business Finance - General requirements. There are then an additional 9 credit hours in the PFP Concentration. 

The Finance faculty at WKU work closely with students in small classes, bringing a wealth of knowledge and expertise to the classroom. The Finance curriculum includes hands-on opportunities and state-of-the-art technology.

There are several notes of distinction regarding our programs. First, our Personal Financial Planning concentration  and our Certificate in Financial Planning program are registered with the Certified Financial Planner Board of Standards, Inc. (CFP Board). As of December 2022, we are one of only three institutions in the state of Kentucky with Board registered degree programs! This registration confers a special advantage on our graduates.

Second, the WKU Finance Group is one of 25 programs in the Tennessee Valley Authority (TVA) service region to be part of its Investment Challenge Program. As of January 2023, the student-managed investment portfolio was valued at $500,000! Read more about this program under TVA Investment Challenge.

Third, the Gordon Ford College of Business holds dual AACSB accreditation in business and accounting. The AACSB Accreditation is the world's highest standard of excellence in business education.  Learn why AACSB accreditation matters. 

If you have any questions about our programs, please contact the Department of Finance

Concentrations

  • Personal Finance Planning (FNPP)
  • Business Finance Concentrations
    • Business Finance - General (FNBF)
    • Business Finance - Investment (FNIN)
    • Business Finance - Analyst (FNAN)
    • Business Finance - Financial Services (FNFS)

Students majoring in a program in this department may refer to the Gordon Ford College of Business introductory section for sample course schedules for the freshman and sophomore years.

When planning a program of study in this department, each student should be aware of the University’s academic requirements and regulations contained in this catalog in the chapter “Academic Information.” Specific attention should be given to the subsections in the chapter entitled (a) Academic Programs, (b) Colonnade Requirements, and (c) Academic Requirements and Regulations. Students should be aware that some academic programs may require additional scholastic regulations and standards not specified in the catalog. To obtain a copy of these regulations, students should contact the department chair.

The undergraduate finance program offers five areas of concentration within the major:

  • Personal Financial Planning
  • Business Finance Concentrations:
    • Business Finance - General
    • Business Finance - Investment
    • Business Finance - Analyst
    • Business Finance - Financial Services

Finance majors must earn a minimum grade point average of 2.0 in 300 and 400 level finance courses. In addition, finance majors must earn a “C” or better in FIN 330 and FIN 332

Program Requirements (78/88 hours)

A baccalaureate degree requires a minimum of 120 unduplicated semester hours. More information can be found at www.wku.edu/registrar/degree_certification.php.

Students who began WKU in the Fall 2014 and thereafter should review the Colonnade requirements located at: https://www.wku.edu/colonnade/colonnaderequirements.php.

Business Core

Employers are seeking business graduates who 1) are well-prepared in their specific major, 2) possess foundational knowledge about other business disciplines, and 3) are career ready and professional. All majors in the Gordon Ford College of Business complete MATH 123 (Mathematical Applications for Business) and a common set of business and career preparation courses (the business core) in addition to the courses specific for their selected major. 

Business Foundations Courses
MATH 123Mathematical Applications for Business *3
ACCT 110Accounting for Decision Makers3
BDAN 250Introduction to Analytics3
ECON 206Statistics3
ECON 202Principles of Economics (Micro)3
FIN 330Principles of Finance3
MGT 210Organization and Management3
MKT 220Basic Marketing Concepts3
MGT 498Strategy and Policy3
or ENT 496 Small Business Analysis and Strategy
Career Preparation Courses
BA 170Business Student Basics 11
or BA 175 University Experience-Business
or BA 220 Special Topics in Business Administration (Lower Division)
MGT 261Business Communication Fundamentals3
FIN 399Career Readiness in Finance1
FIN 499Senior Assessment in Finance1
Total Hours 33
*

Or any calculus class, or math ACT score of at least 26, or math SAT score of at least 610.

1

BA 175 is only for Business LLC students. BA 220 is only for WKU students and transfer students who choose a business major as a sophomore or higher.

All Finance Majors

All Finance majors will complete the following courses regardless of concentration. All majors must earn a C or better in FIN 330 and FIN 332 and must have a cumulative GPA of 2.0 or better in all finance classes.

Finance Major Required Courses
ACCT 220Principles of Financial Accounting3
ECON 307Financial Data Modeling3
FIN 161Personal Finance3
FIN 332Investment Theory3
FIN 389Financial Analysis and Modeling3
FIN 433Financial Markets and Institutions3
FIN 437Corporate Asset Management3
FIN 438Corporate Funds Management3
Total Hours24

Business Finance Concentrations (78 hours)

All four Business Finance Concentrations require 78 hours of professional and elective courses and lead to a Bachelor of Science degree. No minor or second major is required or prohibited. Business Finance has four concentrations:

1. Investment

2. Analyst

3. Financial Services

4. General Business Finance

All Business Finance Majors must complete the following courses

Common Courses for all Business Finance Majors
FIN 436International Financial Management3
Select 3 hours of Upper-Level Business Electives, including prefixes ACCT, BDAN, CIS, ECON, ENT, FIN, MGT, and MKT 3
Total Hours6

Investment Concentration

The Investment concentration focuses on the proper use of investment instruments, how markets works, proper portfolio construction and the allocation of resources to meet financial goals. Students are exposed to both theoretical concepts and applied investments.  

Career paths for students include financial analyst, investment consultant, portfolio manager, private wealth manager, stockbroker, and risk manager. Potential employers include investment firms, investment banks, insurance companies, mutual funds, hedge funds, pension funds, securities firms, private equity groups, venture capital firms, and government agencies.

Investment Required Courses
FIN 331Applied Investments3
FIN 419Behavioral Finance and Investing1.5
FIN 439Security Analysis and Portfolio Management3
FIN 449Practicum in Portfolio Management3
Upper-Level Finance Electives4.5
Total Hours15

Analyst Concentration

The Analyst Concentration is designed to develop financial and data analysis skills necessary to support various analyst roles including financial analyst, risk analyst, valuation analyst, and investment analyst. Analyst jobs typically involve a great deal of data analytics and the use of financial technology (a fast-growing area in finance). The role of an analyst is often both analytical and client-facing. The Analyst Concentration focuses on skills for gathering and parsing financial data, analyzing and interpreting financial statements, evaluating a company's performance, and communicating findings.

Students in the Analyst Concentration can expect to have a range of job functions and career path possibilities across multiple industries from which to choose upon graduation.

The Analyst Concentration also completes the requirements for a Certificate in Applied Data Analytics. Note: Students must apply for the certificate after completing requirements.

Analyst Required Courses
BDAN 310Business Data Analytics3
BDAN 430Data Visualization3
Upper-Level Finance Electives6
Select one of the following:
FIN 439Security Analysis and Portfolio Management3
or FIN 449 Practicum in Portfolio Management
Total Hours15

Financial Services Concentration

The Financial Services Concentration provides students with analytical and problem-solving skills to prepare students for careers in the financial services industry. The financial services industry is made up of companies dealing specifically with the management of money. Banks, and other depository institutions, insurance companies, finance companies, and mortgage lending companies are examples of businesses in the financial services industry. 

Possible careers for Financial Services graduates include bank examiner, credit analyst, insurance adjuster, insurance agent, depository institution management, and underwriter.

Financial Services Required Courses
FIN 333Advanced Topics in PFP3
FIN 350Risk Management and Insurance3
FIN 405Legal and Regulatory Aspects of Personal Financial Planning1.5
FIN 419Behavioral Finance and Investing1.5
FIN 435Commercial Bank Management3
MKT 325Personal Selling3
Total Hours15

General Business Finance Concentration

General Business Finance Required Courses
Upper-Level Finance Electives12
Choose one of the following:
FIN 439Security Analysis and Portfolio Management3
or FIN 449 Practicum in Portfolio Management
Total Hours15

Personal Financial Planning Concentration

The Personal Financial Planning concentration requires 87-88 hours of professional and elective courses and leads to a Bachelor of Science degree. The personal financial planning concentration deals with the process of developing comprehensive financial plans for individuals. Financial planners help individuals determine financial goals and objectives and the best strategies for obtaining these goals. The rapid growth of multi-income families in the U.S. has placed more and more people in a position of need to apply sophisticated financial planning techniques to their personal economic affairs. As a result, one of the fastest growing career paths in the financial services industry is financial planning, and the Certified Financial PlannerTM (CFP) ® designation has become the most widely recognized financial planning credential among consumers.

The Personal Financial Planning concentration is registered with the Certified Financial Planner Board of Standards in Washington D.C. We are one of only three registered universities in the state of Kentucky! This registration confers a special advantage on our graduates. Upon completion of our CFP® board certified program, students are allowed to sit for the CFP® Certification Examination.

Western Kentucky University does not certify individuals to use the CFP®, Certified Financial PlannerTM, and CFP® (with flame logo) certification marks. The CFP certification is granted only by the Certified Financial Planner Board of Standards to those persons who, in addition to completing an educational requirement such as this CFP Board-Registered Program, have met its ethics, experience, and examination requirements.

The Certified Financial Planner Board of Standards Inc. owns the marks CFP®, Certified Financial PlannerTM, and CFP® (with flame logo) which it awards to individuals who successfully complete initial and ongoing certification requirements.

Personal Financial Planning Concentration Required Courses
FIN 331Applied Investments3
FIN 333Advanced Topics in PFP3
FIN 350Risk Management and Insurance3
FIN 405Legal and Regulatory Aspects of Personal Financial Planning1.5
FIN 419Behavioral Finance and Investing1.5
FIN 422Personal Financial Planning Practice Management3
FIN 444Retirement Planning3
FIN 445Estate Planning3
FIN 450Financial Plan Development3
FIN 439Security Analysis and Portfolio Management3
or FIN 449 Practicum in Portfolio Management
Choose 3-4 hours from the following:3-4
Business Data Analytics
Data Visualization
Commercial Bank Management
International Financial Management
Practicum in Portfolio Management
Security Licensing and Investment Accreditations Lab
Personal Selling
Total Hours30-31

Finish in Four Plans 

Finance majors must earn a minimum grade point average of 2.0 in 300 and 400 level finance courses. In addition, finance majors must earn a “C” or better in FIN 330 and FIN 332.

Business Finance Concentrations

Investment Concentration 

First Year
FallHoursSpringHours
BA 1701ACCT 1103
FIN 161 (E-SB)3Colonnade: Arts & Humanities (E-AH)3
COMM 145 (F-OC)3HIST 101 or HIST 102 (F-SB)3
ENG 1003Colonnade: Literary Studies (F-AH)3
MATH 123 (F-QR)3ECON 2023
General University Elective3 
 16 15
Second Year
FallHoursSpringHours
ACCT 2203ECON 2063
MGT 2613MKT 2203
BDAN 2503Colonnade: Connections (K-SC or K-LG or K-SY)13
MGT 2103Colonnade: Natural & Physical Sciences (E-NS)3
Colonnade: Natural & Physical Sciences with lab (E-SL)3General University Elective3
 15 15
Third Year
FallHoursSpringHours
General University Elective3FIN 3323
ECON 3073FIN 3893
FIN 3991FIN 4191.5
FIN 3303FIN 3313
Colonnade: Connections (K-SC or K-LG or K-SY)23Colonnade: Connections (K-SC or K-LG or K-SY)33
Colonnade: Writing in the Disciplines (F-W2)3 
 16 13.5
Fourth Year
FallHoursSpringHours
FIN 4373FIN 4393
FIN 4383Finance Upper-Division Elective3
Business Elective3Finance Upper-Division Elective1.5
FIN 4333MGT 498 or ENT 4963
FIN 449 (by application only)3FIN 4991
 FIN 4363
 15 14.5
Total Hours 120

Analyst Concentration

First Year
FallHoursSpringHours
BA 1701ACCT 1103
FIN 161 (E-SB)3Colonnade: Arts & Humanities (E-AH)3
COMM 145 (F-OC)3HIST 101 or HIST 102 (F-SB)3
ENG 1003Colonnade: Literary Studies (F-AH)3
MATH 123 (F-QR)3ECON 2023
General University Elective3 
 16 15
Second Year
FallHoursSpringHours
ACCT 2203ECON 2063
MGT 2613MKT 2203
BDAN 2503Colonnade: Connections (K-SC or K-LG or K-SY)13
MGT 2103Colonnade: Natural & Physical Sciences (E-NS)3
Colonnade: Natural & Physical Sciences with lab (E-SL)3General University Elective3
 15 15
Third Year
FallHoursSpringHours
General University Elective3FIN 3323
ECON 3073FIN 3893
FIN 3991Finance Upper-Division Elective3
FIN 3303Business Elective3
Colonnade: Connections (K-SC or K-LG or K-SY)23Colonnade: Connections (K-SC or K-LG or K-SY)33
Colonnade: Writing in the Disciplines (F-W2)3 
 16 15
Fourth Year
FallHoursSpringHours
FIN 4373Finance Upper-Division Elective3
FIN 4383BDAN 4303
BDAN 3103FIN 4363
FIN 4333MGT 4983
FIN 439 or FIN 449 (by application only)3FIN 4991
 15 13
Total Hours 120

Financial Services Concentration

First Year
FallHoursSpringHours
BA 1701ACCT 1103
FIN 161 (E-SB)3Colonnade: Arts & Humanities (E-AH)3
COMM 145 (F-OC)3HIST 101 or HIST 102 (F-SB)3
ENG 1003Colonnade: Literary Studies (F-AH)3
MATH 123 (F-QR)3ECON 2023
General University Elective3 
 16 15
Second Year
FallHoursSpringHours
ACCT 2203ECON 2063
MGT 2613MKT 2203
BDAN 2503Colonnade: Connections (K-SC or K-LG or K-SY)13
MGT 2103Colonnade: Natural & Physical Sciences (E-NS)3
Colonnade: Natural & Physical Sciences with lab (E-SL)3General University Elective3
 15 15
Third Year
FallHoursSpringHours
General University Elective3FIN 3323
FIN 3333ECON 3073
FIN 3991FIN 4191.5
FIN 3303FIN 4051.5
Colonnade: Connections (K-SC or K-LG or K-SY)23Colonnade: Connections (K-SC or K-LG or K-SY)33
Colonnade: Writing in the Disciplines (F-W2)3FIN 3503
 16 15
Fourth Year
FallHoursSpringHours
FIN 4373MKT 3253
FIN 4383FIN 4353
FIN 3893FIN 4363
FIN 4333MGT 498 or ENT 4963
Business Elective3FIN 4991
 15 13
Total Hours 120

Business Finance General Concentration

First Year
FallHoursSpringHours
BA 1701ACCT 1103
FIN 161 (E-SB)3Colonnade: Arts & Humanities (E-AH)3
COMM 145 (F-OC)3HIST 101 or HIST 102 (F-SB)3
ENG 1003Colonnade: Literary Studies (F-AH)3
MATH 123 (F-QR)3ECON 2023
General University Elective3 
 16 15
Second Year
FallHoursSpringHours
ACCT 2203ECON 2063
MGT 2613MKT 2203
BDAN 2503Colonnade: Connections (K-SC or K-LG or K-SY)13
MGT 2103Colonnade: Natural & Physical Sciences (E-NS)3
Colonnade: Natural & Physical Sciences with lab (E-SL)3General University Elective3
 15 15
Third Year
FallHoursSpringHours
General University Elective3FIN 3323
ECON 3073Finance Upper-Division Elective3
FIN 3991Finance Upper-Division Elective3
FIN 3303Business Elective3
Colonnade: Connections (K-SC or K-LG or K-SY)23Colonnade: Connections (K-SC or K-LG or K-SY)33
Colonnade: Writing in the Disciplines (F-W2)3 
 16 15
Fourth Year
FallHoursSpringHours
FIN 4333Finance Upper-Division Elective3
FIN 4373FIN 439 or FIN 449 (by application only)3
FIN 4383FIN 4363
FIN 3893MGT 498 or ENT 4963
Finance Upper-Division Elective3FIN 4991
 15 13
Total Hours 120

Personal Financial Planning Concentration

First Year
FallHoursSpringHours
BA 1701ACCT 1103
FIN 161 (E-SB)3HIST 101 or HIST 102 (F-SB)3
ENG 100 (F-W1)3ECON 2023
MATH 123 (F-QR)3Colonnade: Literary Studies (F-AH)3
COMM 145 (F-OC)3Colonnade: Arts & Humanities (E-AH)3
Colonade: Connections (K-SC or K-LG or K-SY)13 
 16 15
Second Year
FallHoursSpringHours
ACCT 2203ECON 2063
MGT 2613MKT 2203
BDAN 2503Colonnade: Connections (K-SC or K-LG or K-SY)23
MGT 2103Colonnade: Natural & Physical Sciences (E-NS)3
Colonnade: Natural and Physical Sciences (E_SL)3Colonnade: Writing in the Disciplines (F-W2)3
 15 15
Third Year
FallHoursSpringHours
FIN 3313FIN 3323
ECON 3073FIN 3893
FIN 3303FIN 4191.5
FIN 3991FIN 4051.5
FIN 3503FIN 4453
Colonade: Connections (K-SC or K-LG or K-SY)33FIN 4031
 16 13
Fourth Year
FallHoursSpringHours
FIN 4373FIN 439 or FIN 449 (by application only)3
FIN 4383FIN 4503
FIN 4443FIN 4991
FIN 3333MGT 498 or ENT 4963
FIN 4333FIN 4223
 Business Elective from approved list3
 15 16
Total Hours 121