Economics, business and money – seem to follow one principle rule – Change! Just like fortune’s footsteps which are nimble and out of bounds for those who don’t understand her subtle manoeuvrings, students of finance are often caught in a similar rigmarole while studying and analysing the unpredictable world of finance.
Just like it is with selecting a topic for dissertation – while choosing topics on finance one has to be however doubly sure.
The credibility of a finance assignment is based on supplying facts. The more precise and pointed are those facts, the better standing the dissertation will gain from supervisors. But numbers and facts are the most constantly changeable feature in finance; and this is where most students of finance seem to get wedged.
The other challenge for students of finance is the tectonic shifts in the consumer financial world which is evolving at a breakneck speed. In the last two decades alone the world has seen unprecedented shifts in economies worldwide and in certain cases greater inflation and growing gap between rich and poor. In such a tumultuous scenario, students of finance are being introduced to more radical changes, than they saw earlier. This is where collection of stable data or analysis of situations becomes tricky for a researcher of finance. Thus, apart from what text book theories say – students have to be more attuned to the practical aspects of finance and gather their cues from the environment.
Given this robust landscape in the world of finance, many established theories or older practices no longer exist. Neither can they be applied to modern economies. For a student of finance being up to date with these changing scenarios is critical as is the ability to nurture a more practical outlook to the subject – and these are fluctuations which will not be theorised in any book.
And just as vigorous as the economic landscape, are its ever-changing terrain of terminologies. From barter, to laissez faire, to capitalism and to open market and socialism – a number of systems have been bid adieu by governments and societies, with the emergence of global markets. Changing economies have led to greater change in consumer behaviour and therefore different profit patterns and systems of profit sharing as well.
The main obstacles being faced by financed students is therefore with regards to collection of accurate data and understanding of evolving terms which define newer economic systems. A more hands-on approach, with knowledge of these changes can help students score better in their dissertations.