Finance, is an accepted, acknowledged degree option at most (if not all) accredited institutions and has existed as so since the 1960's. Yet the evolution of the 'science' of finance began hundreds of years earlier with great mathmeticians such as Pascal, and the work of many physicists, including Einstein. Surprisingly, numerous equations that describe the flow of money exchange, arbitrage and risk developed from Physics equations describing similar phenomenons concerning particles instead of money. In essence, finance has always been a science, yet it was not considered to be in the realm of Academia until shortly after WWII, when an economic boom prompted huge advances in the field of finance.
Presently, finance focuses upon how humans behave when faced with uncertainty, essentially the study of behavior regarding risk and risk management. In the past, the study of finance was most often characterized by the creation of equations, or the application of physics/math equations to the movement of money and the prediction of how an investment may change over time. Numerous famous names in other fields participated in the early work of finance: Einstein, Pascal, Pierre de Fermat, Bachelier and Gordon.
However, it was not until the 1980's that finance as a solid science and career was recognized. During this time, six Nobel Prizes were awarded to those who have advanced the progress of the current state of finance. Differential equations, probability theories and derivatives all form vital components that describe the current state of finance, which includes most notably, the stock market, which first opened in Chicago in 1973. The flow of currency within the stock market is radically different than the flow of currency in the past, especially considering that the majority of cash flow is rather abstract. This may be one reason why the equations that describe this phenomenon are also utilized in physics and abstract mathamatics.
sorry it's not so good...it was REALLY hard to write because it was REALLY hard to read.
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