FIN817S International Finance A

Obchodně podnikatelská fakulta v Karviné
léto 2009
Rozsah
0/2/0. 5 kr. Ukončení: zk.
Garance
prof. Ing. Daniel Stavárek, Ph.D.
Katedra financí a účetnictví – Obchodně podnikatelská fakulta v Karviné
Omezení zápisu do předmětu
Předmět je nabízen i studentům mimo mateřské obory.
Mateřské obory/plány
Cíle předmětu
The aim of the course is to introduce and explain the basic features of international finance and international financial system. The student will gradually get acquainted with the most important indicators of external economic position such as balance of payments, exchange rate, foreign investments and their mutual links. The course also covers topics as international financial markets and financial derivatives. The attention will be paid on specific implications of international finance on financial management of companies.
Osnova
  • Structure of the Course:
    1. Balance of payments
    A principle of balance of payments, credits and debits, residents and non residents. Vertical and horizontal structure, partial and cumulative balances. Current account, financial account, capital account, errors and omissions, changes in foreign exchange reserves. Examples of major credit and debit transactions, their recording and construction of a simple version of balance of payments.
    2. The foreign exchange market
    Main features of the foreign exchange market, methods of trading and most important financial centers. Differences between retail and inter-bank foreign exchange market. Spot and term operations. Covered interest parity. Foreign trade financing, hedging, speculation, arbitrage. Process of exchange rate quotation, direct and indirect quotation, cross exchange rates. Financial operations of companies on the foreign exchange market.
    3. Exchange rates and their determination
    Types of exchange rates, nominal and real exchange rate. Simple model of exchange rate determination, foreign exchange supply and demand. Nominal interest rates as a leading factor influencing exchange rate development in the short-run, uncovered interest parity. Purchasing power parity and exchange rate in long term period. Law of one price and basic variants of the purchasing power parity. Consequences of exchange rate changes on companies' business.
    4. International movement of capital
    Typology of investment and classification on portfolio, direct and other investment. Motives and risks of investing abroad. Foreign direct investment as a driving force of globalization. Analysis of benefits and drawbacks of foreign investments for an investor and for a host country. Present situation and recent development of foreign investments.
    5. Financial Derivatives
    Introduction to the principles of financial derivatives, history and recent development of derivatives markets. Comparison of basic types of financial derivatives - futures, options swaps. Differences between standardized and over-the-counter derivatives. A principle and methods of derivatives' usage in hedging and speculation including possibilities of financial derivatives' use in financial management of companies.
Literatura
    doporučená literatura
  • CRUM, RL., BRIGHAM, EF., HOUSTON, JF. Fundamentals of International Finance. Mason, OH: South-Western, 2005. info
  • ANTHONY, S. Foreign Exchange in Practice. The New Environment. Houndmills: Palgrave, 2003. ISBN 1-4039-0174-0. info
  • SHAPIRO, AC. Multinational Financial Management. Boston, etc: John Willey & Sons, 2002. ISBN 0-471-39530-7. info
  • CUTHBERSTON, K., NITZSCHE, D. Investments - Spot and Derivatives Markets. Chichester, etc.: John Wiley and Sons, 2001. ISBN 0-471-49583-2. info
  • EITEMAN, DK., STONEHIL, AI., MOFFETT, MH. Multinational Business Finance. 9th ed. Boston: Addison Wesley Longman, 2001. ISBN 0-201-63538-0. info
  • KRUGMAN, PR., OBSTFELD, M. International Economics: Theory and Policy. 5th ed. New York: Addison Wesley, 2000. ISBN 0-321-03387-6. info
  • MELVIN, M. International Money and Finance. 6th ed. Reading (MA), etc.: Addison Wesley Longm, 2000. ISBN 0-321-05051-7. info
Vyučovací jazyk
Angličtina
Informace učitele
activity during classes (0-15 points), essay (0-10 points), seminar paper (0-25 points), and final written exam (0-50 points). The course is concluded by final test.
Další komentáře
Předmět je dovoleno ukončit i mimo zkouškové období.
Předmět je zařazen také v obdobích zima 1990, léto 1991, zima 1991, léto 1992, zima 1992, léto 1993, zima 1993, léto 1994, zima 1994, léto 1995, zima 1995, léto 1996, zima 1996, léto 1997, zima 1997, léto 1998, zima 1998, léto 1999, zima 1999, léto 2000, zima 2000, léto 2001, zima 2001, léto 2002, zima 2002, léto 2003, zima 2003, léto 2004, zima 2004, léto 2005, zima 2005, léto 2006, zima 2006, léto 2007, zima 2007, léto 2008, zima 2008, zima 2009, léto 2010, zima 2010, léto 2011, zima 2011, léto 2012.