Recession, inflation, interest, shares, debentures, credit and return on investment—all these seem to be very dull to most of the students. But those who have little interest in these terms are greatly benefited while perusing the ICOFP courses (www.icofp.org) . These courses are in high demand these days with ever more dynamic character of financial matters.
Background matters but not much
The apparent benefit to the students who have been familiar with the practical nature of the field is clear in the initial phase of the finance courses. Although the courses are made-easy courses on the subject, as these are designed to address the widest range of youth with their diverse academic backgrounds, those already comfortable with the basic terms like share markets and debentures and dividends may have a competitive edge.
But thanks to the very practical nature of the subject and the practical ways to explain the most complicated and abstract concepts of business and finance that are employed at these modern financial institutes, the troubles are soon over with anyone even having no exposure to financial terms and concepts. After a few classes and focused attention on each and every student, they soon become familiar with the practical connotations of every basic financial term. Now the thrust shifts of practical aspects when the students start to learn what the needs of their clients may be and how they are going to address the needs in future.
How is it possible that the students get familiar with the hardcore terms of economics and finance so fast? I should ask a question in response to this question: Do the young members of business families take a professional or academic course in economics or finance before they start taking business responsibilities? In many cases they don’t.
The point is if anything is taught in the most practical ways with abundance of real life examples, the hardest of the concepts become lucid and very easy to grasp and understand. One thing is quite different with the modern courses in finance from the academic courses on economics. It is about history and theories. The experts at the financial institutes have themselves a pretty deep knowledge of the theories propounded by eminent economists in history. But now they cannot enjoy extensive times to take the students on a tour to those bulky theories. They rather have to introduce their students with the crux of the subject in most practical and lucid ways.