summary assessment goals & strategies

Finance Department

Program Assessment Goals and Strategies

1998-99

Goals for Undergraduate Service Course

Finance 325 (Foundations of Finance)

Students will:

1. understand the roles of finance personnel in the business enterprise,

2. be able to demonstrate fundamental knowledge of valuation concepts, analyze and interpret financial information regarding the financial health of the firm,

3. be able to identify mechanisms for financing the enterprise, and

4. understand the utilization of the risk/return framework in acquiring real assets for the firm.

Goals for All Finance MajorsFinance 327 (Financial Markets and Institutions)

Students will:

1. have an understanding of different components of the financial system including the role of financial markets, financial instruments and financial institutions,

2. appreciate the role of government in the saving and investment process, payment system and the conduct of monetary policy, and

3. survey global issues in the context of financial markets and institutions.

Finance 341 (Investments)

Students will:

1. develop fundamental analytical skills to evaluate investment opportunities, both domestic and international,

2. utilize investment information contained in financial press/media, and

3. remain close to ever-changing financial services accessible through electronic media.

Assessment Strategies

Course embedded assessment via multiple choice and short answer examinations. Oral and written presentation of applied learning such as cases and hands-on experiences. Review by Finance Advisory Council.

Assessment Strategies

Course embedded assessment via multiple choice and short answer examinations. Careful scrutiny and reporting of the operations of Federal Reserve components. Review with oral/written reports (possibly journal and portfolio entries) of on-going government financial policies. Exit interviews. Peer evaluations.

Course embedded assessment via multiple choice and short answer examinations. Study of Wall Street Journal and other print media, New York Stock Exchange, Chicago Board of Trade, and actual brokerage activities referred to by practitioners as guest speakers. Exit interviews. Peer evaluations. Executive investment projects.

Finance 461 (Financial Management and Policy)

Students will:

1. acquire an understanding of current financial theory and its implications for practice including topics of valuation, financing, investment and dividend policies,

2. study the intricacies of mergers, acquisitions, restructuring and corporate control, and

3. recognize international, ethical, and diversity issues, ethics and diversity and their implications on business.

Goals for Tracks within the Finance Major

Finance 331 (Risk and Insurance)Students will:

Develop an understanding of risk management and the shifting of risk to insurance institutions,

2. obtain an overview of the insurance industry and the national and international implications of providing protection as well as capital for growth,

3. become aware of the ethical, diversity, economic, financial and social importance of this growing financial service industry and the career opportunities in this expanding industry, and

4. learn how to make informed personal decisions regarding the selection and purchase of the many products both now and throughout one’s lifetime from auto coverage to retirement plans.

Course embedded assessment via multiple choice and short answer examinations. Written and oral presentations of cases and current situations being experienced in today’s business environment. Reports and portfolios developed by students for presentation to Executive Advisory Boards and other corporate review panels. Exit interviews. Capstone projects. Peer evaluations.

Assessment Strategies

Course embedded assessment via multiple choice and short answer examinations. Completion of a comprehensive project graphically demonstrating an understanding of the insurance industry and products including government programs such as social security.

Networking through exposure to both sales and operations executives as guest speakers, internships and class visits by industry recruiters. New insurance fraternity open to all students and related field trips. Student evaluations and feedback from employers hiring graduates with concentration in areas of insurance and financial services.

Fin 436 (Life Insurance)

Students will:

1. provide an in-depth understanding of many types of life insurance contracts, their uses and the actuarial calculations pertaining to premiums, cash values, dividends and related options, riders and endorsements,

2. be exposed to career opportunities in the insurance and securities industry through a variety of guest speakers,

3. develop an awareness of the ethical, diversity, and global issues associated with the financial service industry and the career opportunities in this expanding industry, and

4. begin preparation and study for the CLU and/or ChFC professional designations by receiving dual credit from both the American College in Bryn Mawr, PA and Ohio University.

Fin 437 (Personal and Business Financial Planning)

Students will:

1. continue an in-depth review of the material learned in Fin 331,

2. learn the basic IRS code applicable to personal and corporate taxes and how federal and state estate taxes affect your family and future clients,

3. foster knowledge concerning prospecting, interviewing and presenting proposals to minimize tax and maximize retirement income as well as create and conserve wealth,

4. develop an awareness of the ethical, diversity, economic, financial and social importance of this growing financial service industry and the career opportunities in this expanding industry, and

5. begin preparation and study for the CLU and/or ChFC professional designations by receiving dual credit from both the American College in Bryr Mawr, PA and Ohio University.

Course embedded assessment via multiple choice, short answer and essay examinations. Completion of an in-depth study of a selected topic through a research paper on a life insurance related area. Completion of the CLU supplemental examination (essay) results in certification by the American College.

Course embedded assessment via multiple choice, short answer and essay examinations. Completion of an in-depth Written case project and class presentation by each student regarding the following topics: Life Insurance, Disability, Auto and Homeowners, Education, Investment, Income Tax, Retirement, Estate and Business Continuation planning.

Completion of the CLU supplemental Examination (essay) results in certification by the American College.

Networking through exposure to both Sales and operations executives as guest speakers, internships and class visits by Industry recruiters. New insurance Fraternity open to all students and related Field trips. Student’s evaluations and feed Back from employers hiring graduates with concentration in area of insurance and financial services.

Fin 439 (Insurance Regulations & Financial Mgmt)

Students will:

1. receive an in-depth understanding of group insurance benefits, uses and plan design including; life, health, disability, pensions, dental and vision coverage, learn to combine group benefits with individual plans such as life insurance, 401K, 403b, Keogh, SEPs, IRAs and personal investments,

3. develop an awareness of the ethical, diversity, economic, financial and social importance of this growing financial service industry and the career opportunities in this expanding industry, and

4. begin preparation and study for the CLU and/or ChFC professional designations by receiving dual credit from both the American College in Bryr Mawr, PA and Ohio University.

Finance 445 (Portfolio Management)

Students will:

1. comprehend the interdependency between risk and return emphasized in modern portfolio theory,

2. apply this knowledge to the asset allocation process,

3. utilize investment instruments with nontraditional return opportunities to engineer portfolios that meet the specific needs of the business entity, and

4. develop investment strategies that achieve the goals and objectives of stockholders and institutional asset managers.

Finance 455 (International Finance)

Students will:

1. have a conceptual framework with which to key financial decisions of a multinational firm can be analyzed,

2. treat international financial management as a natural and logical extension of the principles learned in corporate finance and expanded upon in other financial exposures,

3. build and extend the framework first learned in a domestic context to account for dimensions unique to international finance.

Course embedded assessment via multiple choice, short answer and essay examinations. Completion of an in-depth study of a selected topic through a research paper in a life insurance related area, a research paper on group insurance benefits for a new company or an in-depth research paper on one of the specific areas of group benefits.

Completion of the CLU supplemental examination (essay) results in certification by the American College.

Course embedded assessment via multiple choice and short answer examinations. Development of portfolios stressing diversification, which minimizes risk and maximizes return on investment. Exposure to brokers and actual investors having experienced portfolio development. Encouraged membership in FMA related Organizations that require oral and written Familiarity with investing. Self-designed Portfolios. Exit interviews. Peer evaluations.

Course embedded assessment via multiple choice and short answer examinations. Internships in multinational firms. Oral/and written reports of travels to firms and/or work experiences outside the United States. Study of financial policies of separate and groups of countries. Exit interviews. Peer evaluations.

Goals for Electives to Balance Finance Majors

Finance 450 (Credit and Lending Principles of Financial Institutions)

Students will:

1. develop an awareness of the broad nature of information necessary for lending activities and be able to apply and interpret the results of various types of financial analysis techniques,

Understand the role of lending in the success of financial institutions and interrelationships between successful business operations and the environment in which they function,

3. appreciate the variety of types of lending situations and different loan arrangements.

Finance 452 (Small Business Finance)

Students will:

1. solve small business requirements of source and use of funds,

2. become familiar with communications and operational policies of banks, stockholders and short term supplies of funds,

3. test sides of credit policy related to accounts receivable and accounts payable, and

use budgeting mechanism to meet the immediate and far range forecasts of needs for a small business entity.

Fin 497 (Independent Research in Finance)

demonstrate the necessary intellectual depth through the identification of a specific research topic of sufficient scope to justify a four credit assignment,
present the results of their research in proper form including footnotes and references,
provide a written report in grammatically correct form that communicates the depth and results of the research.

Finance 498 (Internship)

become familiar with the work place environment and the requirements and practices of business employers,
acquire some job skills for a specific firm and an overview of that firm’s "corporate culture".

Assessment Strategies

Course embedded analyses of case studies including

group presentations and at least three written case study

solutions. In addition, some presentations to outside

advisors.

Course embedded analyses of cases and support historical information. Oral and written presentations to bankers and potential purchasers of stock. Internships in banking industry as well as other supplies of funds such as venture capitalists and capital investment groups. Exit interviews. Peer evaluations.

Assessment is based on the supervising faculty members evaluation of the written report submitted at the end of the project.

Assessment is based on a written report provided by the student and the conclusion of the internship.

Expected Competencies for Undergraduate

Finance Majors

Outcome Area	College Core Curriculum	Finance Major	Major Specialized Track
Written Communication	Finance 325	Finance 327 Finance 341 Finance 461
Oral-Communication	Finance 325	Finance 327 Finance 341 Finance 461
Critical Thinking			Finance 331 Finance 436 Finance 445 Finance 437 Finance 455
Global Understanding/ Cultural Economic Diversities		Finance 341 Finance 327	Finance 455
Ethics	Finance 325	Finance 327 Finance 341 Finance 461
Analytical Skills Development			Finance 461 Finance 445 Finance 341
Integration with Current MIS related Developments		Finance 341	Finance 445 Finance 461
Government Policies Familiarity with Published Journal Reports		Finance 327 Finance 341 Finance 445	Finance 461
Strong relationships with practitioners/ networking		Finance 461	Finance 341 Finance 461 Finance 445 Finance 455 Finance 437

A Perspective on Curriculum Assessment

and Continuous Improvement Finance Department

Desired Outcome/ Objectives	Where Covered?	How Measured?	Benchmark/ Target	Current	Proposed Actions/ Contingency Steps
Service to College of Business	Finance 325	ETS, Review Finance Advisory Board Internal review similar to DANTES/ETS	90%	?	Tutoring on problem areas
Major Restricted	Finance 327 Finance 341 Finance 461	ETS, Review of EAB, practitioners, Investment plan development, Peer evaluation	90%	?	Student Mentor assignment
Specific Major	Finance 331, 436, 437, 445, 455	ETS, Portfolio development. Peer evaluation. Professional Certification	90%	?	Student mentor assignment. Practitioner mentor assignment.
Electives to Round out majors	Finance 450, 452, 269, 497, 498	ETS. Peer evaluation Review by EAB, practitioners	90%	?	Student mentor assignment. Practitioner mentor assignment.

Finance Assessment

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