Finance Effects Economy - Essay Example

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Finance Effects Economy

A finance student studies a bachelor degree in business administration with a major in finance. The purpose of this paper is to discuss and describe the history of finance, how it affects the economy, and areas of specialization in finance. The field of finance as we know it today began in the 1950’s. When finance education started it was often part of the curriculum of economics or a part of business administration. Today the focus of the finance major is integrated as part of a business administration education. The majority of undergraduate finance degrees in the U.S. are part of a business curriculum, but at the graduate level finance is often taught based on the economic approach (Miller). One of the primary focuses of a finance education is to teach students how to make better decisions. Finance professionals are supposed to be able to maximize shareholders wealth (Besley & Brigham). The finance field is often referred to as the cousin of accounting due to the fact that a lot of the concepts and data used in finance come from accounting information. Many small companies integrate the accounting and finance departments. ...Show more

Summary

Due to the competitive nature of the workplace in the 21st century it is imperative for people to obtain a college education. The global recession of 2008 was so devastating that Americans are still experiencing some for of the symptoms of the recession such as a high unemployment rate…
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