Pénzügy

Pénzügy, in Hungarian, denotes the study and practice of managing money, credit, investments, and other financial assets. It covers how households, firms, and governments raise funds, allocate resources, and make decisions over time, weighing expected returns against risk and opportunity costs. The field combines theory with practical tools for managing financial resources effectively.

The discipline is typically divided into several subareas. Corporate finance focuses on funding corporate activities, investment decisions, capital structure, and valuation of projects and firms. Personal finance deals with households’ money management, including budgeting, saving, debt management, and planning for retirement and goals. Public finance examines government budgets, taxation, public expenditure, social programs, and debt management. Financial markets and institutions study banks, stock and bond markets, insurance, asset management, and the functioning of these intermediaries in risk sharing and liquidity provision. Monetary policy and financial regulation analyze how central banks, regulators, and supervisory frameworks influence financial stability, inflation, and economic growth.

In Hungary and other contexts, pénzügy is a core component of economics and business education and a practical field for public and private decision-making. It intersects with accounting, law, and economics to inform budgeting, investment, risk assessment, and policy design.