Bachelor of Business Science specialising in Finance [CB004FTX05]
Money is the lifeblood of all organisations and economies. Because the availability of money is limited, it is important that funds be raised in the most economical and effective way and be invested as effectively and profitably as possible whilst minimising the risk involved. This applies to households, communities, businesses, investment funds, and governments. Finance is the discipline that is concerned with the sourcing, allocation and investment of funds. Thus, good financial skills and professionals are fundamental to the growth and success of any organisation and country.
Finance is both a science (it is based on rigorous theory and quantitative models), and an art (it requires judgment and insights into things like human behaviour). Thus, it is an extremely diverse discipline, which overlaps with accounting, economics, mathematics, politics, psychology, strategy, statistics and many other disciplines. Furthermore, although finance considers the past, it is mostly focused on the future.
People who succeed in finance like to deal with diverse information and the complexities of the real world. One of the challenges that first year students have when choosing a degree is that they are often not familiar with the finance discipline. However, some finance elements are covered at school in economics, accounting and business-related subjects.
Finance has a role to play in most organisations, but specialists in the field are specifically employed in the investment industry (asset management), the financial industry (for example in banks), and in large organisations.