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Module Specifications

Current Academic Year 2012 - 2013
Please note that this information is subject to change.

Module Title International Financial Markets
Module Code EF545
School DCUBS
Online Module Resources

Module TeacherPadraig Fogarty
NFQ level 8 Credit Rating 5
Pre-requisite None
Co-requisite None
Compatibles None
Incompatibles None
Description
The purpose of this module is to provide students with an understanding of international finance. Our perspective is that of the financial manager who must determine the best method for finding and allocating capital to increase the wealth of the firm’s shareholders. The objective of this course is, therefore, to equip the financial manager with the theoretical and practical background to maximise firm value from international operations. Concepts such as exchange rates, hedging to manage forex exposures, and FDI in international markets are studied. Special emphasis is placed on practical examples and the relevance of international finance to managers.

Learning Outcomes
1. Explain how international financial markets have evolved and how the various markets (derivative, bond etc) operate today
2. Evaluate the role/functions of the various financial market participants (institutions, governments etc), how their actions impact upon the markets, as well as the challenges faced by such market participants
3. Explain the process by which interest and exchange rates are determined
4. Determine how capital flows to international markets and how internationalisation of markets drives portfolio construction
5. Critically analyse the risks that organisations are exposed to when operating in international financial markets and the means of managing such risks



Workload Full-time hours per semester
Type Hours Description
Lecture24No Description
Independent learning46Reading in preparation for lectures
Group work30Group Project
Independent learning25Revision for exam
Total Workload: 125

All module information is indicative and subject to change. For further information,students are advised to refer to the University's Marks and Standards and Programme Specific Regulations at: http://www.dcu.ie/registry/examinations/index.shtml

Indicative Content and Learning Activities
Introduction to The Financial System.
Financial System – history, economic ideas..

Market Participants and Supervision.
Capital, liquidity, national, international, future.

Financial market hypotheses & theories.
Efficient Market Hypothesis, Behavioural Theory, complexity theory; operation, crashes/bubbles.

Forecasting.
Modelling, forecasting and analysis.

Foreign Exchange markets.
Introduction; Foreign Exchange Determination.

Risk.
Measurement & categorisation; Management - options, forwards, futures hedging.

Assessment Breakdown
Continuous Assessment40% Examination Weight60%
Course Work Breakdown
TypeDescription% of totalAssessment Date
Group project Group project consisting of presentation and report (equally weighted), which is a practical application of the course material.40%n/a
Reassessment Requirement
Resit arrangements are explained by the following categories;
1 = A resit is available for all components of the module
2 = No resit is available for 100% continuous assessment module
3 = No resit is available for the continuous assessment component
This module is category 1
Indicative Reading List
  • Eun, C. and B. Resnick: 2012, International Financial Management, 6th, McGraw Hill,
  • Eitman, D., M. Moffett, A. Stonehill: 2010, Multinational Business Finance, Pearson,
  • Shapiro, A., and A. Sarin: 2008, Foundations of Multinational Financial Management, Wiley,
Other Resources
None
Array
Programme or List of Programmes
CCTGraduate Cert.in Corporate Treasury
Timetable this semester: Timetable for EF545
Date of Last Revision21-SEP-11
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