Course overview
International Currency and Banking Markets aims to:
introduce students to the financial markets relevant to the conduct of international financial transactions and to the financial systems of the world's major economies;
provide students with an understanding of the key parity and no arbitrage relationships that hold in international financial markets;
equip students with the tools and insights needed to analyse and measure the extent foreign exchange risk;
explain the methods by which foreign exchange risk can be managed through the use of on and off balance sheet items including derivative products; and
inform students of issues relevant to the financing and making of foreign investment decisions, including the impact of the introduction of exchange rate risk on the evaluation of capital projects.
Course learning outcomes
- Discuss the nature and role of the major international financial institutions and financial markets, their operation and their impact on Australia¿s financial system and institutions
- Describe the impact of the similarities and differences between the financial systems of the world's major economies on both their operation and recent performance
- Interpret and use information on spot and forward exchange rates, interest rates and the financial instruments linked to these variables
- Demonstrate an understanding of the parity relationships linking spot and forward exchange rates to nationally and globally established interest rates and price levels
- Explain the use of foreign borrowings as an alternative source of capital to domestic loans
- Identify the sources and importance of the foreign exchange risks faced by internationally oriented firms
- Suggest methods and financial instrument - including financial derivatives - appropriate to the management of this foreign exchange risk
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