Finance and Financial Management

Introduction 

Finance and Financial Management are vital in the higher education ecosystem that can facilitate or constrain its evolution. Ample knowledge of financial management is indispensable for university finance administrators aiming to produce high-quality learning facilities and attract and retain high-level academics. It's a set of tools and techniques that allow a transitioning university to create value in many forms: economic stability, research and technology innovation, and a social difference in the communities it serves.

While numerous different definitions of finance and financial management exist, in the context of higher education, there appears to be a consensus on two primary elements: 

1. Finance involves learning how to streamline a university's operations through financial planning, investing, budgeting, and crisis management to generate revenues that can pay for the cost and utilities of its goods and services. 

2. Financial management guides the economic decisions of a university which affects whether the institution meets its business objectives; thereby, it determines the financial stability of a university in the present moment and the future. 

This module is designed to provide an academic distance learning experience to help you gain in-depth insights into various activities of financial planning and controls across a number of areas, including investment management, operational budgeting, tracking and reporting, and risk management. These core subjects of the module draw on various disciplines, including marketing, production management, and accounting, to develop frameworks and techniques needed to evaluate, design, and successfully operate a world-class research university. Through readings, videos, case studies, and interactive games, you will have the opportunity to learn to think strategically and act opportunistically with a financial viability business mindset. 

In sum, Module 3 does not cover statistics, microeconomics, or data analytics. It is suggested that learners complete the equivalence of these courses before starting this certificate to gain the best learning experience. Rather it's focused on providing you with a deeper understanding of key concepts in finance and financial management, such as operational efficiency, resource management, and competitive strategy. You will leave this module ready to provide good investment choices and ensure good utilization of monetary funds.