Department of Finance
BusAd C-305
2404 Maile Way
Honolulu, HI 96822
Tel: (808) 956-6675
Fax: (808) 956-9887


*Graduate Faculty

*W. Huang, PhD (Chair)—finance
*J. Ai, PhD—risk management and insurance
B. Bystrom, MA, MBA—finance
*R. Chang, PhD—finance
*H. Chen—risk management and insurance
*Y. Chen, PhD—real estate
*J. Kim, PhD—finance
*Q. Liu, PhD—finance
*E. Mais, PhD—finance
T. Messinger—finance
*M. Misawa, PhD—international finance and banking
*N. Patel, PhD—finance
*G. Rhee, PhD—finance
*V. Roley, PhD—economics
*H. Spilker, PhD—finance

Degrees Offered: BBA in finance, MS in finance

The Academic Program

The department offers courses in finance, business law, real estate, and insurance.

Undergraduate Study

BBA in Finance

The major in finance (FIN) develops analytical skills in the planning, management, and control of financial resources to achieve the financial goals of the organization. Central to that task is the evaluation of the risk and return consequences of financial decisions. The major financial decisions studied are the selection of assets (equipment, buildings, inventories, securities, etc.) and the choice among financing alternatives (selling stock, borrowing from a bank, issuing bonds, etc.). Students may select course sequences that concentrate on business financial management, investment management, personal financial planning, Asian finance, and real estate finance.

The major prepares students for positions and career advancement in financial institutions, retail, wholesale, and manufacturing firms; securities institutions; and personal financial planning.


  • FIN 311
  • Four elective courses from:
    • FIN 301, 305, 307, 321, 331, 341, 412, 415, 444, 450, 490;
    • RE 300, 310, 330, 390, 420;
    • INS 300, 411, 431

For information on a Bachelor Degree Program Sheet, go to programsheets/.

Graduate Study

Master of Science in Finance (MSF)

The Master of Science in Finance (MSF) is a full-time, one-year, non-thesis, finance graduate degree program that requires 30 credits to complete. The program will provide students in-depth knowledge in the principles and practices of finance and broaden their opportunities to work in finance-related careers, such as commercial banking, investment management, wealth management, financial planning, risk management and insurance, and real estate, etc.

Upon completion of the MSF program, graduates will be able to achieve the following outcomes:

  • Students will be able to learn advanced theories and best practices in the financial industry.
  • Students will learn comprehensive knowledge necessary for obtaining the CFA (Chartered Financial Analyst®), the FRM (Financial Risk ManagerTM), the CFP (Certified Financial Planner®), and/or the ASA (Associate of the Society of Actuaries) certifications.
  • Students will master in-depth knowledge for conducting practical research in the areas of equity valuation, portfolio management, and risk management and insurance.
  • Students will obtain solid foundation in financial management that will be valuable if they pursue further graduate studies such as PhD program in finance.

There are two pathways to earn the MSF degree.

  • Integrated 4+1 Pathway
    The 4+1 Pathway for MSF is an integrated, five-year program that is designed for students at the Shidler College of Business who want to earn both an undergraduate and graduate degree in finance. Shidler Finance majors will be able to apply to the MSF Program toward the end of their junior year or early in their senior year. If accepted, they will be able to take up to two 600-level and one 400-level courses as an undergraduate. These courses will be allowed to count toward their undergraduate and graduate degrees. This means that during their +1 year (i.e., 5th year at UH Mānoa), they will need only 21 instead of 30 credit hours to earn the MSF degree.
  • One-Year MSF Pathway
    Applicants who are not Shidler Finance majors will take this regular pathway for the MSF program. They will take 30 credit hours of Masters level courses. If they do not have BBAs in Finance or related areas, they will need to take additional courses in economics, accounting, and finance, in addition to the 30 graduate credit hours OR petition the Faculty Director to waive one or more of these courses based on taking course equivalents as part of their academic program.

MSF Degree Requirements*

The MSF degree requires 30 hours of credit for course work

  • MSF Foundation Courses (6 credits)
    FIN 633; Problems in Business Finance
    FIN 634: Investment Analysis and Management
  • MSF Functional courses (21 credits minimum; select 7 courses from below)
    FIN 625: International Monetary Systems and Global Financial Markets
    FIN 636: Financial Analysis and Valuation
    FIN 639: International Banking
    FIN 641: Entrepreneurial Finance
    FIN 653: Portfolio Optimization
    FIN 654: Financial Derivatives
    FIN 655: Financial Forecasting
    FIN 656: Insurance and Risk Management
    FIN 660: Seminar in Finance
    BUS 695 Internships (up to 3 credits)
    BUS 699: Directed Reading and Research
  • MSF Capstone (3 credits)
    FIN 661 Research Seminar
    *Subject to change

MSF Admission Requirements

For the Integrated 4+1 Pathway

  • A cumulative grade point average of 3.0 or higher
  •  “B” or better in BUS 314: Business Finance
  • Statement of objectives
  • Official transcript
  • Two letters of recommendation (at least one from Shidler Finance faculty)

For the One-Year 4+1 Pathway

  • A bachelor’s degree from an accredited college/university or equivalent
  • A cumulative grade point average of 3.0 or higher
  • Statement of objectives
  • Resume
  • Official transcript
  • Two letters of recommendation
  • International Students: TOEFL 600 or IELTS 7.0 scores*

*Applicants who do not meet these requirements may still be granted admission but may be required to take a placement exam at the time of matriculation and/or to take English language classes in addition to their MSF course work.