FINNPIFA International Business Finance

Obchodně podnikatelská fakulta v Karviné
léto 2013
Rozsah
1/1/0. 4 kr. Ukončení: zk.
Vyučující
prof. Ing. Daniel Stavárek, Ph.D. (přednášející)
prof. Ing. Daniel Stavárek, Ph.D. (cvičící)
Garance
prof. Ing. Daniel Stavárek, Ph.D.
Katedra financí a účetnictví – Obchodně podnikatelská fakulta v Karviné
Předpoklady
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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 international finance and international financial system from the business and financial management perspective. 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.
Osnova
  • 1. International monetary system
    2. International financial institutions
    3. History of European monetary integration
    4. Foreign exchange market
    5. Exchange rates
    6. Exchange rate regimes
    7. International movement of capital
    8. Foreign investment in Central Europe
    9. Balance of payments
    10. International economic relations in Central Europe
    11. Foreign exchange risk
    12. Currency derivatives
    13. International business financing
    1. International monetary system
    Definition of the international monetary system and description of its evolution. Gold standard, Brettonwood system, post-brettonwood arrangement and present international monetary system.
    2. International financial institutions
    International Monetary Fund, World Bank Group, European Bank for Reconstruction and Development. Description of the organizational structure, tools, products, activities and results.
    3. History of European monetary integration
    History of European economic and monetary integration, benefits and drawbacks. Role of the euro currency and European Central Bank in the international financial system.
    4. Foreign exchange market
    Description of the foreign exchange market, methods of trading and most important financial centres. Spot and term operations. Foreign exchange market in Central Europe.
    5. Exchange rates
    Types of exchange rates, nominal and real exchange rate. Spot and forward exchange rate, quotes of exchange rate. Essential theories of exchange rate determination.
    6. Exchange rate regimes
    Typology of the exchange rate regimes, comparison of their pros and cons. Changes of the exchange rate arrangements during the economic transformation. Implications for hedging and international trade.
    7. International movement of capital
    Typology of investment. Motives and risks of investing abroad. Foreign direct investment as a driving force of globalization, benefits and drawbacks.
    8. Foreign investment in Central Europe
    Benefits and drawbacks of foreign investments for an investor and for a host country. Current situation and a recent development of foreign investments in the central and eastern European countries.
    9. Balance of payments
    Principle of balance of payments, vertical and horizontal structure, partial and cumulative balances. Current account, financial account, capital account, foreign exchange reserves.
    10. International economic relations in Central Europe
    Development of the Central and Eastern European countries' balances of payments and analysis of their external macroeconomic equilibrium. Main development trend in international trade and investment position.
    11. Foreign exchange risk
    Foreign exchange risk and economic exposure, identifying and calculating economic exposure. Operating exposure and its management. Translation and transaction exposures and their management.
    12. Currency derivatives
    Comparison of basic types of financial derivatives - futures, options swaps. Using in hedging and speculation. Financial derivatives in transition countries.
    13. International business financing
    Corporate sources and uses of funds, national capital markets and international financial centres. International financial intermediaries, project financing, venture capital.
Literatura
    povinná literatura
  • STAVÁREK, D. International Finance: Theory and Practice in Transition Countries. Karviná: SU OPF, 2005. ISBN 80-7248-290-4. info
    doporučená literatura
  • SHAPIRO, A.C. Multinational Financial Management. 9th ed. Hoboken: John Wiley and Sons, 2010. ISBN 978-0-470-45035-2. info
  • DeGRAUWE, P. Economics of Monetary Union. 8th Ed. Oxford: Oxford University Press, 2009. ISBN 0-199-56323-3. info
  • KRUGMAN, P.R., OBSTFELD, M. International Economics: Theory and Policy. 8th ed. New York: Addison Wesley, 2009. ISBN 1-408-820807-5. info
  • SERCU, P. International Finance. Theory and Practice. Princeton: Princeton University Press, 2009. ISBN 978-0-691-13667-7. info
  • BAIMBRIDGE, M., WHYMAN, P. Economic and Monetary Union in Europe. Cheltenham: Edward Edgar, 2003. ISBN 1-84542-233-3. info
Výukové metody
Demonstrace dovedností
Seminární výuka
Metody hodnocení
Písemná zkouška
Vyučovací jazyk
Angličtina
Informace učitele
Compulsory attendance at seminars 25 %.
Seminar paper, seminar discussions, short essay, final exam (written)

AktivityNáročnost [h]
Ostatní studijní zátěž50
Přednáška13
Seminář13
Zkouška40
Celkem116
Další komentáře
Předmět je dovoleno ukončit i mimo zkouškové období.
Předmět je zařazen také v obdobích zima 2013, léto 2014.