Skip to main content

Students Learn to Speak the Language of Finance in Economics of Creative Enterprises Course

By Nick Roman

Many MSLCE students enter the program with a plethora of creative business ideas, but how do you convince investors to fund your project? This quarter, students learned how speak the language of finance through professor Cory Sandrock’s course, Economics of Creative Enterprises. Topics in economics, accounting, external finance needed (EFN), and valuation culminated with a final project that required students to create new business ideas and its financial statements.

We began the quarter examining the invisible hand of economics. Students looked at supply and demand curves pertaining to common goods and services. We then moved into accounting where we looked at activities of various businesses and organized them into spreadsheets. Sandrock constantly reminded students to balance assets and liabilities plus stockholders’ equity as we tackled our accounting midterms. Forecasting centered on determining the EFN for a company to continue operations and the quarter concluded with valuating present and future values of businesses.

The final project required students to create their own business with an executive summary and financial statements. Executive summaries consisted of all pertinent business information and key plans. Five years of pro forma financial analyses including calculations of EFN and total value of the ventures accompanied the summaries. Project ideas consisted of a platform for fashion designers from minority backgrounds, a Broadway production, a professional network for careers in the arts, luxury silk scarves, among many others.

With a background in theatre, Sandrock’s infectious personality made finances as entertaining as possible. MSLCE student Tate Glover says “I enjoyed the opportunity to learn more about how money is managed and tracked in businesses. I feel significantly more prepared to take on and fund my own projects in the future”. At the end of the quarter, MSLCE students can agree that we have a love-hate relationship with Excel, but now equipped with the skills to view creative businesses from a financial angle.