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Regular version of the site
Bachelor 2023/2024

International Finance

Type: Elective course (HSE/NES Programme in Economics)
Area of studies: Economics
Delivered by: School of Finance
When: 3 year, 3 module
Mode of studies: distance learning
Online hours: 16
Open to: students of one campus
Language: English
ECTS credits: 3
Contact hours: 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.
Learning Objectives

Learning Objectives

  • The aim of the course is to familiarize students with the foreign exchange market, the dynamics of exchange rates and factors affecting exchange rates. Students will learn the most popular currency investment strategies and currency risk management techniques.
Expected Learning Outcomes

Expected Learning Outcomes

  • Students will know the basic terminology, concepts and history of the foreign exchange market.
  • Students will know theories and factors of exchange rate determination, various currency investment strategies and international asset pricing models.
Course Contents

Course Contents

  • Online part
  • Offline part
Assessment Elements

Assessment Elements

  • non-blocking Mid-term test
    Mid-term multiple-choice test covers the material of the online part.
  • non-blocking Group project
    Students are expected to conduct a mini-research and prepare a presentation in class.
  • non-blocking Quizzes
  • non-blocking Final test
  • non-blocking Class participation
Interim Assessment

Interim Assessment

  • 2023/2024 3rd module
    0.05 * Class participation + 0.5 * Final test + 0.15 * Group project + 0.1 * Mid-term test + 0.2 * Quizzes
Bibliography

Bibliography

Recommended Core Bibliography

  • Currencies and crises, Krugman, P. R., 1998
  • International economics : theory & policy, Krugman, P. R., 2012
  • International financial management, Madura, J., 2020
  • International macroeconomics and finance : theory and econometric methods, Mark, N. C., 2005
  • Krugman, P. R., Obstfeld, M., & Melitz, M. J. (2018). International Economics: Theory and Policy, Global Edition (Vol. Eleventh edition). New York: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1649946

Recommended Additional Bibliography

  • International economics : theory & policy, Krugman, P. R., Obstfeld, M., 2009

Authors

  • DOBRYNSKAYA VIKTORIYA VLADIMIROVNA