Бакалавриат 2020/2021

Международные финансы

Статус: Курс по выбору (Экономика)

Направление: 38.03.01. Экономика

Кто читает: Школа финансов

Где читается: Факультет экономических наук

Когда читается: 3-й курс, 3 модуль

Формат изучения: с онлайн-курсом

Преподаватели: Верем Ирина Юрьевна, Добрынская Виктория Владимировна

Язык: английский

Кредиты: 3

Контактные часы: 30

Course Syllabus

Abstract

This course follows the course Financial Economics and provides a deeper understanding of international financial markets and exchange rate determination. We will discuss who are the main players in the foreign exchange market, what are the major instruments, and what is the structure of these markets. We will study the major models of exchange rate determination and look into the main determinants of foreign exchange fluctuations. We will study currency investment strategies, such as the carry trade, currency momentum and value strategies. We will discuss empirical evidence of profitability and risks of these strategies. We will also talk about the main mechanisms of currency hedging. Ccылка на онлайн-курс:https://www.mruniversity.com/courses/international-finance

Learning Objectives

• To familiarize students with the foreign exchange market, the dynamics of exchange rates and factors affecting exchange rates

Expected Learning Outcomes

• Learn the most popular currency investment strategies
• Learn currency risk management techniques

Course Contents

• Online part. 1. Introduction to international trade and finance
  This online course is provided by readers of George Mason University, USA: https://www.mruniversity.com/courses/international-finance
• Online part. 2. Exchange rates
  This online course is provided by readers of George Mason University, USA: https://www.mruniversity.com/courses/international-finance
• Online part. 3. Currency issues
  This online course is provided by readers of George Mason University, USA: https://www.mruniversity.com/courses/international-finance
• Online part. 4. The Euro crisis
  This online course is provided by readers of George Mason University, USA: https://www.mruniversity.com/courses/international-finance
• Online part. 5. International trade overview
  This online course is provided by readers of George Mason University, USA: https://www.mruniversity.com/courses/international-finance
• Online part. 6. Crises and responses to them
  This online course is provided by readers of George Mason University, USA: https://www.mruniversity.com/courses/international-finance
• Main part. 1. The foreign exchange market: An overview
• Main part. 2. An asset approach to exchange rate determination
• Main part. 3. Money, interest rates and exchange rates
• Main part. 4. Currency investment strategies
• Main part. 5. Inflation and exchange rates in the long run
• Main part. 6. Financial globalization and international asset pricing

Assessment Elements

• 4 in-class quizzes
  If a student misses a quiz due to an illness, the final grade is determined as follows: Final grade = Cumulative grade/(1-ωi/2), where ωi is the weight of quiz i.
• Class participation
• Group project
• Mid-term test
• Final test

Interim Assessment

• Interim assessment (3 module)
  0.2 * 4 in-class quizzes + 0.05 * Class participation + 0.5 * Final test + 0.15 * Group project + 0.1 * Mid-term test

Bibliography

Recommended Core Bibliography

• Betz, F. (2016). Stability in International Finance : Applications of Price Disequilibrium Theory. Cham: Springer. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1163244
• International economics : theory & policy, Krugman, P. R., 2012
• Krugman, P. R., Obstfeld, M., & Melitz, M. J. (2015). International Finance: Theory and Policy, Global Edition (Vol. Tenth edition, Global edition). Harlow, Essex: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1419051
• Major, A. (2014). Architects of Austerity : International Finance and the Politics of Growth. Stanford, California: Stanford University Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=713319

Recommended Additional Bibliography

• Giancarlo Gandolfo. (2016). International Finance and Open-Economy Macroeconomics. Springer. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsrep&AN=edsrep.b.spr.sptbec.978.3.662.49862.0
• Krugman, P. R., Obstfeld, M., & Melitz, M. J. (2017). International Finance: Theory and Policy, Global Edition (Vol. Eleventh edition). Boston: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1649947