A Mission-Based Approach to Teaching Finance

Abstract

A focus on purely economic and financial metrics and tools has contributed to the failure of our economic system to address growing social injustice and environmental threats. Educational institutions with missions that aim to mitigate these problems are uniquely positioned to improve our economies and communities by adopting an approach to financial decision making that considers a broad range of information, and selects from that the sources and tools relevant to addressing specific issues. A holistic approach to financial decision making is supported by the United Nations Sustainable Development Goals and the encyclical of Pope Francis. This chapter outlines a college-level course structure that emphasizes the critical roles of ethics, sustainability and industry-specific expertise in responsible financial decision-making. Business schools that aim to support sustainable development could provide fresh evidence to the accreditation bodies that teaching and learning in their campus communities are fully aligned with their missions by offering similar courses.