Finance

The Finance Cluster prepares learners for careers in financial and investment planning, banking, insurance and business financial management. Career opportunities are available in every sector of the economy and require specific skills in organization, time management, customer service and communication.

The finance and insurance industry is projected to increase by 9 percent from 2013 to 2020, resulting in 505,100 new jobs. Employment in accounting, auditing, financial analysis, securities, and other financial investments and related activities is expected to expand 25 percent by 2020. Growth will be driven by the wide range of financial assets available for trade, the number of baby boomers reaching retirement age and therefore seeking advice on retirement options, and the globalization of securities markets. Employment in credit intermediation and related activities, an industry that includes banks, is projected to grow by about 3 percent. Almost 6% of the total working US population is working in finance, real-estate, and insurance.

2014-15 Programs of Study

Banking & Finance

In the Banking and Finance program of study, students gain an understanding of the banking and financial industries, beginning with basic economics as the underlying basis of the transfer and growth of money in the financial services system. Content in this POS covers business principles, accounting, and bank services management, ranging from traditional means (savings and loans, credit unions, and local banks) to newer ventures (insurance companies, brokerage houses, and internet-based services). Upon completion of this program of study, students will have gained the skills and knowledge to pursue careers in the various fields of this industry or continue on to postsecondary study.

Course Standards

*Submitted to State Board of Education on first reading January 2014.

**Satisfies ½ credit of Economics required for graduation.

Accounting

The Accounting program of study encompasses careers that record, classify, summarize, analyze, and communicate a business’s financial information and business transactions for use in management decision-making. Accounting includes such activities as bookkeeping, systems design, analysis, and interpretation of accounting information. Upon completion of this program of study, students will have achieved the academic knowledge and skills required to pursue the full range of career and postsecondary opportunities available within this industry.

Course Standards

*Submitted to State Board of Education on first reading January 2014.

Financial Planning

The Financial Planning program of study includes the study of how business financial services function in a company to make policy and strategy for (and the implementation of) capital structure, budgeting, acquisition and investment, financial modeling and planning, funding, dividends, and taxation. Course content includes legal and ethical issues, the examination of investment opportunities, retirement plans, and plans for administering disposition of estate property. Upon completion of this program of study, students will be equipped with the knowledge and skills required to pursue career and postsecondary opportunities in wealth management, financial consulting, and related fields.

Course Standards

*Submitted to State Board of Education on first reading January 2014.

**Satisfies ½ credit of Economics required for graduation.

Courses for Elective Credit

Finance Phase II: Unpacking CTE Course Standards

Last Update: June 5, 2014