CHENNAI: With an aim to improve financial literacy among engineering students, Anna University is likely to offer a mandatory financial education course for its undergraduate students.
Varsity officials said the academic council has approved the proposal and the syndicate has given it the go-ahead.
“The proposal to offer a course on financial education as a mandatory course to all UG students was discussed in detail at the last syndicate meeting,” said a faculty of the university.
Director-academic courses have been informed to explore suitable avenues for implementing it in the pre-final semester, the faculty added. The course is likely to be implemented from next academic year in the varsity and for its affiliated colleges. A senior faculty told TNIE that the low level of financial awareness among students prompted the proposal and hence the course is likely to be compulsory.
“Discussions are on to chalk out the contents of the course. We are planning to prepare a course which will serve as a complete guide on financial education,” said the faculty.
Varsity officials said engineering students with financial knowledge are in demand and that it may enhance their employment opportunities.
The idea to offer financial education was mooted with more students opting for entrepreneurship these days after completing engineering degrees. The audit courses will cover topics like auditing principles, risk assessment and internal control which will help engineering students-turned- entrepreneurs have a better control on their business ventures.
“Nowadays, basic financial education has become a necessity. If students are aware financially, it will be much easier for them to build their businesses and take decisions. One of the major reasons for failing businesses is poor financial decisions,” a senior faculty said.
Officials said the varsity offers a certificate course on financial analytics through its distance education centre, so it has expertise to offer the course. Discussions are on to also rope in industry experts to help with the course.