| Course Description: |
The globalisation of many businesses has increased the emphasis on international finance. Moreover, the integration of economies and development of global capital markets has added another area in which financial managers need to have an understanding. This course builds on the material in core courses and examines the fundamentals of international finance with an emphasis on investment and financing decisions. Topics include exchange rates, forward rates, interest rates and inflation, parity conditions, global debt financing, operating exposure, financing exposure and global capital budgeting. International Finance Concepts introduces students to the challenges of financial management in a global business environment. Students who successfully complete this course should have a solid grounding in how problems in multinational financial management and decision making can be addressed and solved. To achieve this aim, the course has two broad themes. The first theme, covered during Friday afternoon and Saturday, introduces students to foreign exchange, how foreign exchange exposure poses risks for international companies, and how this risk may be controlled and minimised. We emphasise how managing risk can affect the value of the firm. While we concentrate on foreign exchange problems the lessons may be generalised to other forms of risk (for example, commodity prices and interest rates). The second theme, covered on Sunday, deals with decision-making in an international business environment and explores the role of financial decision-making and the responsibilities of those providing financial analysis. We will see how the role of a thoughtful and skilled financial decision-maker or advisor can add value to the firm |
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