Lafayette College announces new minor in finance

Simon Center for Economics and Business | Photo by Adam Atkinson

Lafayette has introduced an interdisciplinary minor in finance to its academic catalog, allowing students from all backgrounds to explore a field that intersects just about every discipline offered at the College and designed with a capstone and unique emphasis on ethics.

The finance minor consists of a minimum of six courses: two in economics, one each in ethics, skills, and applications, and the capstone. Students in the Class of 2029 are now eligible for the minor, while current sophomores, juniors, and seniors pursuing a Certificate of Financial Policy and Analysis may continue to complete that program. The certificate will be replaced with the finance minor for future class years.

“A lot of the things we do on this campus involve finance,” says Michael Kelly, associate professor of economics, who will teach the foundation courses in the minor with Steven Swidler, Walter E. Hanson/KPMG Professor of Business and Finance, along with an incoming instructor in accounting, Theresa Shea, and a yet-to-be filled tenure track professor.

“Many people who will be leaders in their fields, be they government leaders or nonprofit or for-profit leaders, need to understand finance and be able to use these tools to advance and achieve their goals,” Kelly says. “We developed this interdisciplinary minor for our students in our liberal arts framework, making it a distinctive, broadly accessible program. You can complete this minor without having to do half of an economics major.”

“Whether you’re studying music or an engineering field, financial principles are an important set of knowledge to have to help achieve success in our professional and personal pursuits,” he adds.

J.H. Tarbell Lab (with Bloomberg terminals) inside the Simon Center for Economics and Business | Photo by Adam Atkinson

The addition of ethics as part of the minor is a distinguishing factor for Lafayette and builds upon its liberal arts tradition.

“We have to deal with the fact that when people think about finance, they may imagine some kind of caricature on a movie screen, rather than people who, in my mind, are very often responsible for a big chunk of other people’s lives,” Kelly says.

“As a leader, you will have a really important responsibility that needs to be taken seriously. You will face tough financial decisions, and you will search for the right thing to do,” he notes. “A financial problem often has broader social implications to it. We want to equip students so when they face these questions, they have the tools to come to an answer on their own. That’s the ethics component.”

Timing for the new minor in finance coincides with a surge in interest in the Economics Department’s new home.

Kelly and Swidler observe how the Simon Center for Economics and Business has become a popular hub for students from all backgrounds who are drawn to the boundless universe of data and information available through Wharton Research Data Services, a platform that provides access to financial, accounting, regulatory, banking, economics, and marketing data, and the J.H. Tarbell Lab (with Bloomberg terminals). The terminals access real-time data from markets around the world, as well as news, research, and powerful analytics used by professionals in finance, business, and government.

Bloomberg terminals access real-time data from markets around the world, as well as news, research, and powerful analytics used by professionals in finance, business, and government. | Photo by Adam Atkinson

“Everybody wants to be in this building. It’s a great facility. Students want to be here. Faculty want to be here. Administrative staff want to meet here,” Kelly adds. “Now we have the minor, so we have all these things coming together that will give students and faculty the opportunity to strike out to the next 100 years.”

Kelly and Swidler acknowledged the dedication and intellectual rigor put in by members of the working group that developed the minor, made up of colleagues from civil engineering, computer science, data science, economics, Hanson Center, math, and religious studies.

“We’re hoping that we’ve opened up accessibility, so that people outside of economics, and mathematics and economics now begin to consider this new program,” Swidler says. “This is a new opportunity for the entire campus, and we’re excited about that. We’re eager to see where it takes us.”