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JOHN CABOT UNIVERSITY
COURSE CODE: "FIN 330"
COURSE NAME: "International Finance"
SEMESTER & YEAR:
Summer Session I 2024
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SYLLABUS
INSTRUCTOR:
Alessandro Antonelli
EMAIL: TBA
HOURS:
MTWTH 9:00 AM 10:50 AM
TOTAL NO. OF CONTACT HOURS:
45
CREDITS:
PREREQUISITES:
Prerequisite: FIN 301
OFFICE HOURS:
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COURSE DESCRIPTION:
The course emphasizes the structure and analysis of international capital and financial markets, Euro-currency financing, and the financing of international transactions.
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SUMMARY OF COURSE CONTENT:
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SUMMARY OF COURSE CONTENT:
* Multinational Corporations and the International Financial Environment.
* Exchange Rate Behavior.
* Exchange Rate Risk Management.
* Long-Term Asset And Liability Management.
* Short-Term Asset And Liability Management.
* International Banking and International Finance Outlook, Main Trends
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LEARNING OUTCOMES:
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LEARNING OUTCOMES:
By the end of this course, you will have done, or be able to:
*Understand why firms and nations seek out and benefitfrom international business activities.
*Comprehendthe links between countries and the causes of the international flow of funds.
* Understandhow international money markets, international credit markets, international bond markets andinternational stock markets serve multinationalcorporations.
*Dissect the basic factors that affect currency values and the nature of central bank intervention in foreign exchange markets.
*Identify the key equilibrium relationships among inflation rates, interestrates and exchange rates.
*Analyze the main techniques and the main foreign exchange and derivative markets used by multinational corporations to measure and manage their currency risks.
*Examine the management of long-termassets and liabilities, including motives for directforeign investment, multinational capital budgeting, country risk analysis, and capital structure decisions.
*Examine the management of short-term assets and liabilities, including trade financing, other short-term financing, and international cash management.
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TEXTBOOK:
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REQUIRED RESERVED READING:
RECOMMENDED RESERVED READING:
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GRADING POLICY
-ASSESSMENT METHODS:
| Assignment | Guidelines | Weight |
| Test, Final Exam, Class participation (attendance + class presentation) | One mid-course test (quizzes and/or multiple choice questions + graphic analysis, 15% weight). Final exam (70%) will consist of essay-type questions, graphic analysis, multiple choice questions as well as some problems that require quantitative analysis, in which the student is asked to explain and/or solve with accuracy and clarity issues of a particular topic covered by the syllabus. In case exams cannot be taken in class.The class participation grade (15%) will reflect: 1) the students care in attending the classes and in participating in class discussion (unjustified absences will negatively affect the class participation grade); 2) The quality of class presentations or written researches assigned by the professor.
| 15% + 70% + 15% |
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-ASSESSMENT CRITERIA:
AWork of this quality directly addresses the question or problem raised and provides a coherent argument displaying an extensive knowledge of relevant information or content. This type of work demonstrates the ability to critically evaluate concepts and theory and has an element of novelty and originality. There is clear evidence of a significant amount of reading beyond that required for the course.
BThis is highly competent level of performance and directly addresses the question or problem raised.There is a demonstration of some ability to critically evaluatetheory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture andreference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments.
CThis is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings.
DThis level of performances demonstrates that the student lacks a coherent grasp of the material.Important information is omitted and irrelevant points included.In effect, the student has barely done enough to persuade the instructor that s/he should not fail.
FThis work fails to show any knowledge or understanding of the issues raised in the question. Most of the material in the answer is irrelevant.
-ATTENDANCE REQUIREMENTS:
ATTENDANCE REQUIREMENTS AND EXAMINATION POLICY
This class is offered in person, not online. There will be in person, classroom trips that cannot be conducted remotely. Students must meet criteria established by the School and receive official permission through petition for any remote attendance.
You cannot make-up a major exam (midterm or final) without the permission of the Dean’s Office. The Dean’s Office will grant such permission only when the absence was caused by a serious impediment, such as a documented illness, hospitalization or death in the immediate family (in which you must attend the funeral) or other situations of similar gravity. Absences due to other meaningful conflicts, such as job interviews, family celebrations, travel difficulties, student misunderstandings or personal convenience, will not be excused. Students who will be absent from a major exam must notify the Dean’s Office prior to that exam. Absences from class due to the observance of a religious holiday will normally be excused. Individual students who will have to miss class to observe a religious holiday should notify the instructor by the end of the Add/Drop period to make prior arrangements for making up any work that will be missed. The final exam period runs until the last day of the course.
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ACADEMIC HONESTY
As stated in the university catalog, any student who commits an act of academic
dishonesty will receive a failing grade on the work in which the dishonesty occurred.
In addition, acts of academic dishonesty, irrespective of the weight of the assignment,
may result in the student receiving a failing grade in the course. Instances of
academic dishonesty will be reported to the Dean of Academic Affairs. A student
who is reported twice for academic dishonesty is subject to summary dismissal from
the University. In such a case, the Academic Council will then make a recommendation
to the President, who will make the final decision.
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STUDENTS WITH LEARNING OR OTHER DISABILITIES
John Cabot University does not discriminate on the basis of disability or handicap.
Students with approved accommodations must inform their professors at the beginning
of the term. Please see the website for the complete policy.
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SCHEDULE
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PART I - THE INTERNATIONAL FINANCIAL ENVIRONMENT
Time value of money, corporate capital structure, debt sustainability
Multinational corporations and multinational financial management, an overview
International flow of funds
International financial markets
Exchange rate determination
Currency derivatives
PART II – EXCHANGE RATE BEHAVIOUR
Exchange rate history and the role of government
International arbitrage and interest rate parity
Relationship among inflation, interest rates, and exchange rates
PART III – EXCHANGE RATE RISK MANAGEMENT
Forecasting exchange rates
Measuring exposure to exchange rate fluctuations
Managing transaction exposure
Managing economic exposure and translation exposure
Program review (Part I, II, III)
Test: quizzes and/or multiple choice questions + graphic analysis (15% weight)
PART IV - LONG-TERM ASSET AND LIABILITY MANAGEMENT
Foreign direct investment
Multinational capital budgeting
Country risk analysis
Long-term financing
PART V - SHORT-TERM ASSET AND LIABILITY MANAGEMENT
Financing international trade
Short-term financing
International cash management
Case studies and class discussion: International banking and international finance outlook, main trends
Program review (part I, II, III, IV, V)
Final Exam (70% weight)
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