The study of planning, directing, organising and controlling financial activities and services. It includes the provision of insurance and investment services at the corporate and individual level. The main purpose of this narrow field of education is to develop an understanding of the theories and practice of financial planning and investment, the nature and operation of the Australian and international monetary and financial systems and markets, and the principles of insurance.
Banking, Finance and Related Fields develops skills in:
- providing basic financial services
- developing appropriate investment strategies for different types of investor
- organising and operating financial institutions and insurance organisations
- developing appropriate insurance, superannuation and retirement packages for clients
- applying the principles of risk, insurance, reinsurance, and underwriting to determine benefits and premiums
- processing claims, maintaining and verifying insurance records.
Source: Australian Bureau of Statistics