Insegnamento a.a. 2009-2010

8193 - INTERNATIONAL FINANCIAL MARKETS


MM-LS - AFC-LS - CLAPI-LS - CLEFIN-LS - CLELI-LS - DES-LS - CLG-LS - M-LS - IM-LS - ACME-LS - EMIT-LS

Department of Finance

Course taught in English

Go to class group/s: 31
MM-LS (6 credits - II sem. - AI) - AFC-LS (6 credits - II sem. - AI) - CLAPI-LS (6 credits - II sem. - AI) - CLEFIN-LS (6 credits - II sem. - AI) - CLELI-LS (6 credits - II sem. - AI) - DES-LS (6 credits - II sem. - AI) - CLG-LS (6 credits - II sem. - AI) - M-LS (6 credits - II sem. - AI) - IM-LS (6 credits - II sem. - AI) - ACME-LS (6 credits - II sem. - AI) - EMIT-LS (6 credits - II sem. - AI)
Course Director:
MANUELA GERANIO

Classes: 31 (II sem.)
Instructors:
Class 31: MANUELA GERANIO



Course Objectives

The course aims to provide participants with an integrated view of international financial markets and the financial management of multinational firms. The focus is on the markets for spot exchange, currency forwards, options, swaps, international bonds, international equities and innovative instruments. For each of the above mentioned markets, valuation of instruments traded and their application will be exploited through simulations and case studies. The last part of the course will be dedicated to deepen the role of new players in the global financial arena.


Course Content Summary

  • Main players in the International Financial Context. Euromarket versus international market. Global banking: products and markets. The tasks of international financial manager.
  • Currency markets and the behaviour of the exchange rate. Understanding the working of spot and forward currency markets. Implications for corporate decisions.
  • Markets for exchange-rate derivatives and the hedging decision. How to measure currency exposure. Hedging techniques using options and other derivatives.
  • International fixed income markets and the financing decision: use of international bonds and swaps to play cross-border financing strategies.
  • International equity markets and the investment decision. Understanding the cost of capital for cross border investments. Valuing projects exposed to currency and sovereign risk.
  • Trends and new players in global financial markets. Sovereign funds. The role of Islamic finance. The global consolidation of stock exchanges. New financial hubs in emerging countries. The changing role of supranational institutions.

Detailed Description of Assessment Methods

The exam is written. Participants can split the exam into two parts, a midterm examination and a final examination, or simply have one general exam at the end of the course.


Textbooks

Will be indicated by December 2009

Exam textbooks & Online Articles (check availability at the Library)
Last change 22/04/2009 09:36