How much should I know about the "industry" when interviewing for internships?

<p>I'm currently a sophomore majoring in finance who's been applying for various internships and internships programs. My question is, as someone who's just barely getting their feet wet in the world of finance (only have taken/am taking: Microeconomics, Macroeconomics, & Financial Accounting) how much should I be expected to know about the industry and the economy when interviewing for positions in the Finance/Accounting field?</p>

<p>For instance, I recently applied for SEO's Finance/Accounting program. In an email detailing how to be prepared for my phone interview they say </p>

<p>"We are looking for candidates who have an in-depth knowledge of the SEO Career Program, our partner firms, knowledge of the industry you are applying to as well as strong communication skills".</p>

<p>So what would "knowledge of the industry" entail when going into the world of Finance/Accounting? What would I be expected to know to in order to sufficiently do my job? and where would you guys recommend me going to learn the ropes?</p>

<p>A lot of questions, I know haha. I just don't want to be blind sighted in an interview, so anyone with some insight please feel free to respond!</p>