Issue 1 September 2020
Dear readers, Codifying finance is a magazine that looks forward to educating students around the world on two major topics in the modern world: finance and computer science. Our mission is to spread knowledge about these two topics to students through blogs, interviews, panels, current events, and overall informing students on the basics of computer science and finance. We hope to set students up for success by providing these resources. For the first issue, the magazine is dedicated to explaining the basics of finance and computer science. In addition, we have included advice on financial aid for high school students and a brief history of women in computer science to empower women to step into the computer science field. Even though the U.S has one of the world’s largest economies, it only ranked 14 out of 142 countries for Standard & Poor’s Global Financial Literacy Survey, demonstrating the need to provide financial literacy education. Moreover, during a time like COVID-19, it became harder for students to learn remotely. Thus, a need for advancement in computer science will contribute to the education system by improving virtual learning. Codifying finance is dedicated to helping students around the world gain a deep understanding and new insights into the two fields: computer science and finance. Sincerely, Andy Lin 2
2- Editor's Note 3- Table of contents 4- Meet the team 5- Join our Community 6- Computer Science 7- Introduction to Coding 8- World of Computer Science 10- Women in Computer Science 12- Finance & Economics 13- Introduction to Finance 16- Saving & Checking Accounts 18- Financial Aid for College 20- Types of Jobs in Finance 23- Works Cited
Andy Lin Co-Founder
Aneesha Nayak Writer
Carolyn You Artist
Mansour Doumbia Writer
Cynthia Nguyen Writer
Jeffrey Zhou Co-Founder
Samantha Lalich
Stephanie Nguyen
Editor
Layout Designer
Maimuna Muntaha Editor
Huilin (Kelly) Li Writer, Editor
@CodifyingFinance
CodifyingFinance.wixsite.com/home
Computer Science
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INTRODUCTION TO Written By: Andy Lin Edited By: Maimuna Muntaha Layout By: Stephanie Nguyen
coding
What is Coding? Coding is the utilization of unique languages to program electronics, computers, or software to work in any way you want. A script consists of many lines of code that carry out several functions. This includes liking a picture, posting a picture, or creating a game to play. Although it is efficient that the electronics will carry out desired functions based on the code written, there is a lot of precision required in order to be able to carry out the necessary function without going overboard or doing less than what is needed.For example, in order to write a code that asks the computer to portray a victory screen for when the user wins, you need to set conditionals, which are specific codes that allow specific commands based on Boolean which are “true” and “false”, so that the victory screen doesn't show up randomly.
Why Coding?
Coding Types
Coding is paramount in today’s
There are various types of coding
society because electronics are
languages ranging from Python, one
everywhere and heavily relied on.
of the simplest coding languages, to
Coding is the reason why these
Whitespace, a more intricate coding
electronics work, and due to the
language. Here are the basic
rapid increase in internet users
elements of coding:
worldwide, coding is in high
Data types
demand. There are several
Variables (boolean, integer, float)
benefits that come with learning how to code such as helping enhance creativity, problemsolving skills, as well as encouraging precision in codes.
Arithmetic operations If else conditions Loops Input and output
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Written by Aneesha Nayak Edited by Edited by Maimuna Muntaha, Andy Lin, and Sophie Wang Layout by Stephanie Nguyen
Whether we are at work or home, we all incorporate computer science into our daily
World of
routines. For instance, we use it when playing games on our phones, searching on the WWW (World Wide Web), or even through using your
Computer Science
cell device! Throughout the years, computer science has played a huge role in our lives due to the invention of useful modern inventions and tech developments. Some examples include Artificial Intelligence (Alexa-Amazon, Google Home mini-Google, Siri- Apple), mobile applications, and software development!
Computer science is a bit radical to our GenZ world and we hope it intrigues you due tothe fascinating innovations made up of it! However, you might be wondering: what is computer science? Computer science helps communicate different ideas in the technological world through various coding algorithms, computational systems, software applications, and much more! Additionally, it all has to do with the explorations of different fundamentals that correspond to the definition of computer science as a whole.
For instance, computer science consists of many different and unique programming languages -such as Python, Java, HTML, CSS, etc.- which portray diverse systems and functions. Many programmers use these languages to create innovations that we all use today actually function. Descriptively, each programming language has eccentric functions for its assorted uses. For example, HTML & CSS are both used to program the World Wide Web. These languages help build websites and web browsers
such as Bing and Google. Additionally, its importance correlates with how functions since coding has to do with distinct inputs and outputs.
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For instance,
Explicitly speaking,
Overall, computer
computer science
many of the
science is advancing
consists of many
innovations we use
different and unique
today are all made up
programming
of coding algorithms
languages -such as
that are built with the
Python, Java, HTML,
help of the computer
CSS, etc.- which
science field.
cardinal to the GenZ
portray diverse
Generally, these types
community!
rapidly as more students decide to pursue a career in it. Therefore, this field is becoming an influential field that is very informative and
systems and functions. of algorithms convey Many programmers
calculus, linear
use these languages
algebra, and
to create innovations
differential equations
that we all use today
which are utilized to
actually function.
make a program
Descriptively, each
function.
programming language has eccentric functions for its assorted uses. For example, HTML & CSS are both used to program the World Wide Web. These languages help build websites and web browsers such as Bing and Google. Additionally, its importance correlates with how it functions since coding has to do with distinct inputs and outputs.
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Written by Sophie Wang Edited by Edited by Samantha Lalich & Huilin (Kelly) Li Layout by Stephanie Nguyen
Women in Computer Science Nowadays, the term “computer science� has been showing up more than it ever did in the past. This field is the study of computation and information. It is a male dominated field, but more and more women are learning how to code. Many women have made profound impacts in the world of computer science which inspires countless girls worldwide to pursue this field. In the mid-1800s, computer programming was invented. Famous mathematician, Charles Babbage was working on his new invention: the Analytical Machine. This was a mechanical, general purpose computer that functioned as a calculator.
Babbage worked with Ada Lovelace, a young woman who had a passion for math, which was unusual for women at the time. When Babbage asked Lovelace to translate a paper he wrote about the invention, Lovelace became curious about how the Analytical Machine works. Later on, she worked on and wrote an algorithm that allowed the calculator to compute Bernoulli numbers,
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making her the first ever computer programmer. Although the computers we know of today were not yet invented, Lovelace essentially wrote the first algorithm written for computers, thus “inventing” computer programming. However, she was not appreciated at the time and did not get the credit she deserved. Today, we have a national Ada Lovelace Day celebrated on October 15th, which aims to raise awareness of women in STEM.
Grace Hopper was a United States Navy rear admiral, Yale graduate, and computer programmer who contributed a considerable amount of code. Hopper had always aspired to make a change in the fields that she worked in. She led the team that developed the first working code compiler, a program that translates code to machine language, and contributed to the creation of COBOL, one of the most important and high-level programming languages in history. She is known as the “Queen of Software,” for forever impacting the world of computer programming with her contributions in inventing the compiler.
GThese are just two examples of contributions made by women in computer science. As this field continues to expand, becoming one of the most popular majors and careers, we hope that more women will consider computer science as a possible career path. We aim to open more opportunities for both men and women in computer programming.
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Finance & Economics
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Introduction to Finance Written By Andy Lin Edited by Maimuna Muntaha & Sophie Wang Layout By Andy Lin
What is Finance? Finance is the field of study that involves the management of money such as investing, saving, budgeting, borrowing, and lending. It can be broken down into 3 main categories: Public Finance, Personal Finance, and Corporate Finance.
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Why is learning finance important? Learning finance is important because it helps you manage the money needed for your necessities and savings.
Based on the data collected by the National Foundation for Credit Counseling, it is clear that countless Americans are not financially literate. 62% of U.S. adults have carried credit card debt in the last 12 months. More than 1 in 4 people do not pay off their bills on time. 56% of U.S. adults who have tried to purchase a home have faced problems because of factors like the increase in house prices and existing debts. Thus, learning finance is fundamental to improve your quality of life and to make better financial decisions.
Learning finance is fundamental to improve your quality of life and make better financial decisions
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Are you financially literate? Financially literate people: Make plans on how to achieve their goals. Learn to save some money for emergency use. Know their boundaries when it comes to borrowing money. Monitor their spending patterns. Understand the usage of loans, credit cards, and debt. Are aware of how much they are spending compared to how much they are earning. Have plans for the future. Understand the taxes they need to pay. Research before investing.
How can you become financially literate? You can become financially literate by improving your math skills, reading books and magazines on finance, taking a financial literacy course, using financial tools, and staying updated on economic trends and news. If you want to become financially literate, stay updated on CodifyingFinance and all of our new posts!
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Savings vs. Checkings Written by Cynthia Nguyen Edited by Edited by Huilin (Kelly) Li and Samantha Lalich Layout by Stephanie Nguyen
What is the first thing you think of when you hear the words “personal finance?” Money management? Budgeting? Although personal finance concerns such topics, they only scratch the surface. Financial literacy is a subject not often taught in schools, yet it is an essential skill in life.
Investopedia’s “Ultimate Guide in Financial Literacy” focuses on four main topics: bank accounts, credit cards, budgeting, and investing. Educating yourself about the different types of bank accounts is the foundation to becoming financially literate. The two basic accounts you should know are savings and checking accounts.
Savings Accounts are exactly what they sound like! The purpose of a savings account is to save money for either short-term goals or to build an emergency fund. Typically, they have a higher interest rate and aren’t withdrawn from often, due to additional fees charged if withdrawn from frequently. Though the amount one can withdraw is not limited, one can only withdraw from a savings account six times per month. There are many advantages of opening up a savings account, such as preventing the temptation of impulsive or compulsive spending. Setting aside excess amounts of cash into a savings account will allow it to garner interest, however the interest recieved is considered taxable income.
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. Checking Accounts are for daily spending, such as going to the grocery store or purchasing clothes. These accounts usually have a debit or credit card attached to it. There
Some factors that you must consider when opening either accounts are: bank fees, security, minimum balance, and ATM fees. Be on the lookout if your bank is charging you for speaking to representatives or making a transaction. When signing up for
are different types of checking
a bank account, remember to do research
accounts, such as accounts forÂ
on whether or not the bank is trustworthy
businesses, students, or even
and legitimate enough for you to put in
commercials. The downside is that
your funds. For minimum balance
they earn little to no interest. The
requirements, check to see if you are
money is easily accessible and there
capable of reaching that minimum amount
is no limit to how much you can withdraw or spend. Taking time to research about the different options out there is important since there are student-specific deals that one can benefit from.
in the bank to avoid negative outcomes such as overdraft fees. If you tend to travel outside the United States, look for a bank that doesn’t charge for ATM fees to withdraw money. Some banks do offer rebates but if you’re a frequent traveler, it is a significant factor to take note of. Happy Banking :D!!
Here are some studentfriendly bank accounts: Chase Bank College Checking Account Capital One 360 Money (For High School Students) Discover Cashback Debit Account Bank of America Advantage Banking (For Savings)
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TYPES OF
Financial Aid for College
Written by Cynthia Nguyen Edited by Edited by Huilin Liand and Samantha Lalich Layout by Stephanie Nguyen Art by Carolyn You
.College is expensive. There is no doubt about that statement. However, considering the various methods there are to fund your education, it doesn’t have to be. To name a few, FAFSA and scholarships are two of the most common methods to fund your education. Investing in yourself by continuously attending school will provide you the resources you need to become a highly competitive applicant within the workforce.
.FAFSA is one of the most important
Scholarships can be divided into two
documentation to fill out when applying
main sub-categories: need-based and
for college or scholarships. The acronym,
merit-based. Need-based scholarships
FAFSA, stands for Free Application for
primarily apply to students who are low-
Federal Student Aid. Many scholarships,
income. Merit, on the other hand, is
especially “need-based” ones, will
based off of academic achievements or
require FAFSA documentation.
SAT/ACT scores. Although maintaining a
Depending on which state you reside in,
high GPA and class rank will help you
there are separate deadlines for state,
appeal more to scholarship committees,
federal, and college deadlines. Although
the required essays are equally as
the application typically opens in
important. Ask different people to review
October, it is highly recommended to
your essay. While in high school, it is
apply ASAP, considering the fact that it
quintessential to build relationships with
is a first come first serve basis. The
teachers in order for you to ask them for
committee reviews your data and emails
letters of recommendation. Scholarships
you an EFC (Expected Family
can also have an academic resume or
Contribution) after you apply. If your EFC
interview component. Research for local
is 00000, you are eligible to receive a
scholarships; they aren’t as competitive
Pell Grant up to $6,345 maximum in the
and are probably more legitimate than
2020-2021 school year. If your family is
the “Niche” or “Chegg” scholarship
low-income, you should apply as early as
raffles.
possible since you are more likely to receive funding.
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Whether you are applying for FAFSA or Scholarships, the most important factor to take note of are deadlines. During your senior year of high school,
Scholarships for High School Seniors:
most of the largest scholarship funds/applications’ deadlines are due during September/October. Do not wait to apply for scholarships;
Taco Bell Live Mas Scholarship Coca-Cola
start as soon as you can. Full-
Scholarship
ride scholarships and large
The Gates
scholarship sums are usually
Scholarship
offered to high school seniors, so make sure to check out your dream college and various
Questbridge (Partners with Ivy
organizations' deadlines. Happy
Leagues throughout
Scholarshiping! ;D
the U.S.)
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Written by Sophie Wang Edited by Huilin (Kelly) Li Layout by Andy Lin
Types of jobs in Finance
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The finance industry is very secure. There will always be a need for someone to analyze budgets, manage accounts, and protect savings.
Corporate Finance Works for one company Have a lot of knowledge with business/finance laws Skills include: organization, communication and technical
Banking Jobs includes: bank teller, branch manager, loan officer, marketing director Usually requires a bachelor's degree Skills includes: experience with interpersonal communication, customer service, and administration
Financial planning and advising Help clients create a plan for their money or business funds. It is helpful to be familiar with financial law, investing practices, or insurance policies. Skills include: communication, management, and attention to detail.
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Accounting Helps company run smoothly. Looks at financial records to make sure company is following the law and not wasting money Manage cash flow and profits/losses Important skills are: finance management, decisionmaking, business communication
Investment Helps people and companies find investors to support them and fund their projects/businesses Investment firms or brokers Important skills in this field are: communication, negotiation, critical-thinking, working in a fast-paced environment
Insurance Jobs in this field include: insurance salesperson, agent, customer service representative, and actuary An actuary is someone who analyzes statistics to determine the insurance’s risks and benefits
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Works 6 Types of Finance Jobs. Indeed Career Guide. https://www.indeed.com/careeradvice/finding-a-job/types-of-finance-jobs. Published 2020. [1] What types of jobs and employers are there in finance? | TARGETcareers. Targetcareers.co.uk. https://targetcareers.co.uk/career-sectors/finance/18-what-types-ofjobs-and-employers-are-there-in-finance. Published 2020. [2] Farran Powell, Kerr E. A Guide to Understanding Financial Aid for College. US News & World Report. https://www.usnews.com/education/best-colleges/paying-forcollege/articles/an-ultimate-guide-to-understanding-college-financial-aid. Published 2019. [3] Federal Student Aid. Studentaid.gov. https://studentaid.gov/h/apply-for-aid/fafsa/. Published 2020. [3] Federal Student Aid. Studentaid.gov. https://studentaid.gov/understandaid/types/grants/pell. Published 2020. [4] Taco Bell Foundation. More About How to Enter, Taco Bell Foundation. Taco Bell Foundation. http://www.tacobellfoundation.org/live-mas-scholarship/more-about-how-toenter/. Published 2020. [5] Morais B. Ada Lovelace, the First Tech Visionary. The New Yorker. https://www.newyorker.com/tech/annals-of-technology/ada-lovelace-the-first-tech-visionary. Published October 15, 2013. [6] 13 Famous Women Who Changed Tech History Forever. Dice Insights. https://insights.dice.com/2020/03/06/13-famous-women-changed-tech-history-forever/5/. Published March 6, 2020. [7]
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Cited Morais B. Ada Lovelace, the First Tech Visionary. The New Yorker. https://www.newyorker.com/tech/annals-of-technology/ada-lovelace-the-first-tech-visionary. Published October 15, 2013. [8] The Ultimate Guide to Financial Literacy. Investopedia. https://www.investopedia.com/guide-to-financial-literacy-4800530. Published 2020. [9] Checking Account. Investopedia. https://www.investopedia.com/terms/c/checkingaccount.asp. Published 2020. [10] What Is a Savings Account? Investopedia. https://www.investopedia.com/terms/s/savingsaccount.asp. Published 2020. [11] A guide to the different types of bank accounts in the United States. Novacredit.com. https://www.novacredit.com/resources/a-guide-to-the-different-types-of-bank-accounts-inthe-united-states/. Published 2020. [12] Checking Account vs Savings Account - Difference and Comparison | Diffen. Diffen.com. https://www.diffen.com/difference/Checking_Account_vs_Savings_Account. Published 2016. [13] Ten Things To Consider When Choosing A Bank or Credit Union. Military.com. https://www.military.com/paycheck-chronicles/2011/02/01/ten-things-to-consider-whenchoosing-a-bank-or-credit-union. Published February 2011. [14] Best Student Bank Accounts. Investopedia. https://www.investopedia.com/best-studentbank-accounts-4799707. Published 2020. [15]
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Thank you for reading Issue I!