Is finance a stem major? Such is one of the questions people have been curious to know in the past few days.
So if you are part of those that have been canvassing arguments in either direction, this article will tell you what is what in the shortest while now.
But before then, let’s quickly look into what STEM is all about.
What Does STEM Mean?
Why the word STEM is not new to most people, there are still people out there who are not familiar with the acronym or what it stands for.
Hence, the acronym STEM stands for Science, Technology, Engineering, and Math. Pretty simple, isn’t it?
Yes, it is. But as simple and easy as the meaning of STEM may seems, its classifications can sometimes get weird.
Just like we are having it right now. Everyone is busy arguing whether financing is a stem major or not.
Such is how weird and difficult the classification of courses or subjects that belong to STEM may be.
Can we categories finance as STEM major?
Without any iota of doubt, there are good and convincing arguments in either direction. You just have to maintain your own stand.
For instance now, formal systems, more often than not, do consider finance and accounting to be part of Science, Technology, Engineering, and Math degrees.
While it depends greatly on the program, several departments of the federal government do recognize financial degree as being STEM major for official purposes.
Is Finance STEM Major?
This answer to this thought-provoking question wouldn’t be better appreciated without make little analysis.
Put simply, there is little or no line of demarcation between STEM and some finance program.
What qualifies them as STEM depends. We have considered the federal government regulation the other time to make a case.
And we can look at the MIT where some finance major degree program are being awarded.
This means finance is formally recognised by the government as a STEM degree.
What’s more, DHS has made it known publicly that the MIT finance degree program counts as STEM.
So what do we have to say? That finance can no where be categories under Science, Technology, Engineering and Math?
Well, we can’t disagree with your submission totally that finance is not STEM properly so called.
Because if one can take his time to review tons of finance major degree programs, one will definitely see mixed results.
Some finance degree results were formally acknowledged as STEM degrees, and many others are not.
However, if we can take our time to reason this issue well, a few trends will emerge.
Part of these trends is that finance degrees are likely going to be considered STEM sooner.
This is so because the numbers of math and technology courses studied in the program will definitely impact its classification.
Reasons why finance is not a STEM major
You’ll agree that not all degree programs receive the same classification, and this leads to the question: is finance a stem major?
Well, there are two compelling and valid arguments against calling finance a STEM major.
These arguments are:
1. Regulation Management
One of the arguments canvassed finance as a STEM major lies in the main content and applications of the financing degree programs.
That is to say, the major component of finance involves learning and understanding appropriate regulations.
It’s not that mathematical or scientifical in nature, and it isn’t in any way similar to the field of technology or engineering.
In finance, you’ll be introduced to several Federal, state, and local laws as well as finances and taxes regulations.
Now, if you compared this finance of a thing with courses like physics degree, you would realize that the amount of math and science involved is not comparable.
Such is the major reason why many people don’t believe or consider finance as STEM degrees, regardless of what we’ve said so far.
2. College of Business
Other than the above argument against finance being a stem major, the strongest of them all is how the schools are classified.
The finance, accounting, business management, etc. degrees are managed in a school under the college of business.
Meanwhile, there are colleges of science and technology, colleges of engineering, etc. all separate and distinct from college of business where finance belong.
Most of the math and technology degrees are run by these schools.
Therefore, if a whole university cannot consider or recognise accounting or finance to be part of STEM degrees, what else do we say?
Reasons why finance is a STEM major
The two arguments canvassed against finance being STEM degree are very valid. But there are still rebuttals to them.
One may be tempted to ask that if finance degree cover non-STEM topics, why is the government recognising them as STEM programs?
Why is that? The answer to this can be summarized into three different points. These include:
Sentiment apart, all finance related courses are pretty deep in mathematics and calculation.
This is something that is not common in all degree programs. You can’t find in any math course in Political science, sociology, Philosophy, etc.
But if you get into graduate studies, the math in finance gets — even more — complicated.
Majority of the occupation out there involve, at least, a little coding. Finance is also part and parcel of this trend.
It’s not brainer that some finance work can have a lot of numbers, data points, calculations, and more.
Although the coding in finance may not be as complicated as what a student majoring in computer science would experience, but with this, finance can fit within the STEM classification.
The Accounting STEM Pursuit Act made this particular argument. Professionals in these fields are expected to work closely with technology.
There are tons of financial software that came at the instance of accounting and finance experts.
Without further ado, finance fit comfortably under the umbrella of STEM as some degree programs will always be STEM-oriented than others.
There is no point further arguing if finance is a STEM major or not, the above analogy is okay and convincing for either side.