Master
2023/2024
International Financial Management
Type:
Compulsory course
Area of studies:
Management
Delivered by:
Department of Finance
When:
1 year, 3, 4 module
Mode of studies:
offline
Open to:
students of all HSE University campuses
Instructors:
Darko Vukovic
Master’s programme:
International Business in the Asia-Pacific Region
Language:
English
ECTS credits:
6
Contact hours:
48
Course Syllabus
Abstract
The course is dedicated to international financial markets and international monetary relations. The goal of the course is to get students acquainted with fundamentals of international monetary and financial operations.
Learning Objectives
- The goal of the course is to get students to understand fundamentals of international financial management and the workings of international monetary system and forex markets.
- Understand the monetary policy issues which authorities face for managing the international capital flows
- Analyse, apply and evaluate information within the international financial environment to solve problems and make informed decisions in a corporate
- Know the theoretical issues involved in the international financial management of a corporate/organisation
- Forecast exchange rates based on the parity conditions that should apply between spot rates, forward rates, inflation rates, and interest rates
- Know the practical considerations (such a transfer pricing, transactions structuring etc.) of international financial management of a multi national corporate
- Know the issues/decisions that corporates face while managing finances and investments internationally
- Understanding the risks that organizations have to mitigate or manage while managing finances internationally and the techniques for that
- A good understanding of the key concepts related to currency, exchange rate and capital flows which are likely to be encountered while working in a multi-national corporate
Expected Learning Outcomes
- Understand the basics of globalization and the ideas behind (MNCs)
- Understand the relationships among exchange rate, interest rates, and inflation
- Understand exchange rate determination
- Understand the exchange rate and monetary policy
- Understand the International flow of funds
- Understand the risks in international financial management
- Understand the Forex fluctuations
- Understand the cross border transactions for MNCs
- Analyse the practical IFM Issues faced by MNCs
- Analyse the International Financial Markets
- Analyze the Hedge Funds and Private Equity
- Analyze the Great Financial Crisis 2008-09
Course Contents
- 1.1 Financial Management Theory : Quick Recap
- 1.2 Globalisation & Multi National Companies (MNCs)
- 2.1 Theory : Relationships among exchange rate, interest rates, and inflation
- 2.2 Exchange rate determination
- 3.1 Cross border transactions for MNCs
- 3.2 Practical IFM Issues faced by MNCs
- 4.1 Risks in international financial management
- 4.2 Forex Fluctuations - Managing Economic & Translation Exposure
- 5.1 Exchange Rate and Monetary Policy
- 5.2 International flow of funds
- 6.1 International Financial Markets
- 6.2 Hedge Funds and Private Equity
- 6.3 Great Financial Crisis 2008-09
Interim Assessment
- 2023/2024 4th module0.2 * Case Study + 0.4 * Exam + 0.2 * Mid Term + 0.1 * Surpize Quiz N2 + 0.1 * Surprise Quiz N1
Bibliography
Recommended Core Bibliography
- Foundations of Multinational Financial Management, 5th ed., 613 p., Shapiro, A. C., 2005
- Moffett, M. H., Stonehill, A. I., & Eiteman, D. K. (2016). Fundamentals of Multinational Finance, Global Edition: Vol. Fifth edition, Global edition. Pearson.
Recommended Additional Bibliography
- Foundations of multinational financial management, Shapiro, A. C., 2002
- Foundations of multinational financial management, Shapiro, A. C., 2005
- Jeff Madura, & Roland Fox. (2020). International Financial Management, Edition 5. Cengage Learning.
- Mishkin, F. S. (2016). The Economics of Money, Banking and Financial Markets, Global Edition (Vol. Eleventh edition). Boston: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1419607