The Core Course in Global Finance at IESEG School of management

Global Finance

Master of International Business: Global Finance - This course examines financial management decisions in international settings. You will study foreign exchange risk management, multinational working capital management, foreign investment analysis, as well as the financing of foreign operations. Furthermore, this course will provide a comprehensive discussion on the following topics : The exchange market and its institutional mechanisms (including electronic trading and the understanding of currency futures and options contracts) The use of the balance of payments A framework to assess the economic links among nations The costs and benefits of managing inter-affiliate fund flows on a global basis The design of a global financing strategy The growth-option valuation often associated with foreign investments

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Master of International Business

IESEG Summer Program

GLOBAL FINANCE

Core course: Global Finance

OBJECTIVES

The objectives of this module are to develop a systematic understanding of financial management decisions in an international setting, in conjunction with a depth study of varied economic environments and market conditions in which firms function in foreign exchange markets, risk management and international investment strategies.

The course objectives are to achieve the following learning outcomes:

Gain practical knowledge in the function of foreign exchange markets
Understand theoretically and assess empirically international parity conditions and their relevance and implications in international financial management and the management of multinational corporations
Understand international flow of funds and international links between nations
Gain analytical skills in foreign exchange risk management
Be able to evaluate critically different international investment strategies under various assumptions and circumstances

CONTENTS

Foreign Exchange Fundamentals
- Foreign Exchange Markets and Foreign Exchange Rates
- Exchange Rate Regimes and the International Monetary System
Parity Conditions in International Finance
- Purchasing Power Parity
- Covered Interest Rate Parity
- Expectations and Uncovered Interest Rate Parity
- International Fisher Effect
International Flow of Funds and International Economics Links
- Balance of Payments
- International Investment Positions
Foreign Exchange Risk Management and Strategies
- Currency Derivatives
- Measuring Foreign Exchange Exposure
- Managing Transaction Exposure
- Managing Economic and Translation Exposure
Foreign Investment Strategies and Analysis
- Sovereign Risk and Country Risk Analysis
- International Portfolio Investment and Direct Foreign Investment