Department of Finance

Grise Hall
Office 334
Phone: (270) 745-2018
Fax: (270) 745-5284
Website: www.wku.edu/gfcb/finance
e-mail: Finance@wku.edu

Dr. Christopher Brown, Chair of Finance (270) 745-2018
e-mail: Christopher.Brown@wku.edu

Page Professor: K. Chan
Professors: I. Chhachhi, S. Thapa, E. Wolfe
Associate Professor: C. Brown
Assistant Professor: Y. Ling Lo
Executive in Residence: J. Snavely

Mission Statement
The finance program is committed to offering a high quality baccalaureate program in finance with concentrations in financial management and financial planning and an MBA concentration in finance. The concentrations in finance provide students with not only a broad general educational background but also a thorough professional education in finance. The primary mission of the finance group is teaching and instruction, which is supported by faculty involvement in basic and applied research as well as research that supports the teaching mission.

Finance Undergraduate Program
The undergraduate finance program at Western Kentucky University consists of two distinct concentrations with overlapping but separate requirements. The two concentrations are:

1. Finance—financial management concentration
2. Finance—financial planning concentration

The finance—financial management concentration deals with the acquisition and use of funds to maximize the value of the firm. Financial managers make decisions about alternative sources and uses of funds. Proper financial management within the firm will help the business to provide better products at reasonable prices to its customers and greater returns to the investors who supply the capital needed to form and then operate the business.

The finance–financial planning concentration deals with the process of developing comprehensive financial plans for individuals who 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 Planner® (CFP) designation has become the most widely recognized financial planning credential among consumers.

The finance—financial planning concentration is registered with the Certified Financial Planner Board of Standards in Denver, CO. As of early 2005, we are one of only four registered universities in the state of Kentucky! This registration confers a special advantage on our graduates, which is that upon completion of our program, they 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.

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) General Education 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 head.

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. That section also outlines the requirements for being formally admitted to the College. For convenience a sample “suggested program of study” also follows.

Major in Finance

Financial Management Concentration
The finance major (reference number 664)—financial management concentration requires 120 credit hours and leads to a Bachelor of Science degree. Finance majors must earn a minimum grade point average of 2.0 in 300 and 400 level finance courses.  No minor or second major is required or prohibited. All finance majors will be required to participate in an assessment process in FIN 499 prior to graduation.

Requirements for Finance—Financial Management Concentration are:

• General Education Requirements (see Catalog)—35 hours
• COMM 161*—3 hours
• MATH 116* or above—3 hours
• ACCT 200, 201—6 hours
• CIS 141, 243—6 hours
• ECON 202*, 203, 206, 307—12 hours
• MKT 220—3 hours
• MGT 200, 210, 314—9 hours
• MGT 498 or ENT 496—3 hours
• FIN 330, 332, 433, 436, 437, 438, 499—19 hours
• FIN 439 or 449—3 hours
• FIN 435 or MKT 323/325, or ACCT 300/330/430/440 – 3 hours
• Approved Finance Electives**—6 hours
• Approved Business Electives***—3 hours
• General University Electives (unrestricted)—6 hours

* Counts toward General Education requirements for a total of 41 hours in General Education.

** Approved Finance Electives are any 300- or 400-level Finance courses.

*** Approved Business Electives are any 300- or 400- level course in Finance, Accounting, Economics, Computer Information Systems, MKT 323 or MKT 325.

The four-year plan for timely completion of a finance (financial management concentration) major is outlined below and also appears on the departmental website: www.wku.edu/gfcb/finance.

Suggested Program of Study

Financial Planning Concentration
The finance major (reference number 664)—financial planning concentration requires 120 credit hours and leads to a Bachelor of Science degree. Finance majors must earn a minimum grade point average of 2.0 in 300 and 400 level Finance courses.  No minor or second major is required or prohibited. All finance majors will be required to participate in an assessment process in FIN 499 prior to graduation.

Requirements for Finance—Financial Planning Concentration are:

• General Education Requirements (see Catalog)—35 hours
• COMM 161*—3 hours
• MATH 116* or above—3 hours
• ACCT 200, 201,330—9 hours
• CIS 141, 243—6 hours
• ECON 202*, 203, 206, 307—12 hours
• MKT 220—3 hours
• MGT 200, 210, 314—9 hours
• MGT 498 or ENT 496—3 hours
• FIN 330, 331, 332, 350, 437, 438, 444, 445, 499—25 hours
• FIN 439 or FIN 449—3 hours
• Approved Finance electives**—3 hours
• Approved Business electives***—3 hours
• General University electives (unrestricted)— 3 hours

* Counts toward General Education requirements for a total of 41 hours in General Education.

** Approved Finance electives are any 300- or 400-level Finance courses.

***Approved Business electives are any 300- or 400-level course in Finance, Accounting, Economics, Computer Information Systems, MKT 323 or MKT 325.

Suggested Program of Study

Minor in Finance
The minor in finance (reference number 357) requires 27 semester hours of course work. The minor in finance requires FIN 330 and 12 hours of approved finance electives from any 300 or 400 level finance courses. As preparation for this minor, students must also complete MATH 116 and ECON 202 or 203, ECON 206 and ACCT 200.

Certificate Program in Financial Planning
The Certificate Program in Financial Planning is intended to qualify non-finance majors or degree-holding individuals who wish to pursue a career in financial planning. After successful completion of the following seven courses, the student receives a Certificate of Financial Planning from Western Kentucky University and fulfils the educational requirement to sit for the comprehensive CERTIFIED FINANCIAL PLANNER® (CFP®) exam. Required courses are: ACCT 330, FIN 330, 331, 332, 350, 444, and 445. There may be additional course requirements for students not meeting pre-requisites.

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.

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.