【课程教学大纲】国际财务管理

1、PAGE PAGE 8国际财务管理课程简介课程编号1240162004课程名称国际财务管理课程性质选修学 时32学 分2学时分配授课：32 实验： 上机：实践： 实践（周）：考核方式闭卷考试，平时成绩占30% ，期末成绩占70% 。开课学院商学院更新时间XX年9月适用专业财务管理先修课程中级财务会计、财务管理课程内容：本课程的目的是让学生全面掌握如何处理国际商务与贸易中的财务问题，特别是那些有关货币体系，银行，金融，投资和风险管理相关的问题。顺利本课程完成后，学生应该：能够在当前国际背景下讨论国际贸易相关的财务、金融和银行领域的问题，能够解释外汇市场，货币体系和在国际交易中的风险管理的作用和功

2、能。能够解释全球货币体系及其对企业管理的影响。Brief Introduction Code1240162004TitleInternational Financial ManagementCourse natureRequiredSemester Hours32Credits2Semester Hour StructureLecture：32 Experiment： Computer Lab： Practice：Practice (Week)：AssessmentClosed book examination, usually results accounted for 30%, the f

3、inal grade accounted for 70%.Offered byBusiness SchoolDateXX-9forFinancial Management (Sino-Australian cooperation)PrerequisiteMedium Financial Accounting, Financial ManagementCourse Description: This subject is intended to provide the student with a sound but generalized oversight of international

4、trade issues, particularly those related to monetary systems, banking, finance, investment and risk management. Upon successful completion of this subject, students should:Be able to discuss international trade finance and banking issues in a current context Be able to explain the role and function

5、of foreign exchange markets, currency systems and risk management in international transactionsBe able to explain the global monetary system and its implications for business management.国际财务管理课程教学大纲课程编号1240162004课程名称国际财务管理课程性质选修学 时32学 分2学时分配授课：32 实验： 上机：实践： 实践（周）：考核方式闭卷考试，平时成绩占30% ，期末成绩占70% 。开课学院商学院

6、更新时间XX年9月适用专业财务管理先修课程中级财务会计、财务管理一、教学内容CHAPTER 1 FINANCIAL GOALS AND CORPORATE GOVERNANCEWhen you have finished studying this topic, you should be able to explain and describe:Models of corporate governanceImplications of the different models of governanceAgency theoryDifferent philosophies for the g

7、oals of the firm such as the shareholder wealth maximisation and stakeholder capitalism modelsKey points：Agency theoryDifficulties：Implications of the different models of governanceCHAPTER 2 THE BALANCE OF PAYMENTSWhen you have finished studying this topic, you should be able to explain and describe

8、:Balance of Payments The concept of a countrys balance of payments and its structureFundamentals of BOP AccountingThe Current AccountThe Capital/Financial AccountKey points：Current Account; Capital/Financial AccountDifficulties：A countrys balance of payments and its structureCHAPTER 3 FOREIGN EXCHAN

9、GE MARKETSWhen you have finished studying this topic, you should be able to explain and describe the:Foreign exchange market including its geographical spread, its functions and its participants;Types of foreign exchange transactions, including spot, forward, and swaps;Methods used for exchange rate

10、 quotationsKey points：Foreign exchange market, including spot, forward, and swapsDifficulties：Methods used for exchange rate quotationsCHAPTER4 FOREIGN EXCHANGE THEORIESWhen you have finished studying this topic, you should be able to explain and describe the:International Parity Conditions;Prices a

11、nd Exchange Rates;The purchasing power parity theory of exchange rate determinationKey points：Prices and Exchange RatesDifficulties：The purchasing power parity theoryCHAPTER 5 FOREIGN CURRENCY DERIVATIVESWhen you have finished studying this topic, you should be able to explain and describe:Foreign c

12、urrency derivatives, including, foreign currency futures and optionsThe means by which these derivatives are priced and traded;The uses of these derivations for purposes of hedging risk and speculation;Currency futures and forwards;Call and put currency options and the roles of purchasers and writer

13、s;The pricing of currency options and the measures of price volatilityKey points：The foreign currency futures and optionsDifficulties：Call and put currency options and the roles of purchasers and writersCHAPTER 6 INTEREST RATE AND CURRENCY SWAPSWhen you have finished studying this topic, you should

14、be able to explain and describe:Interest rate and currency swapsThe nature of interest and currency rate riskThe use of swaps to manage interest and currency riskThe distinction between forward rate agreements, interest rate futures, interest rate swaps, currency swaps and foreign exchange swapsMeth

15、ods of pricing interest rate and currency swapsKey points：Interest rate and currency swapsDifficulties：Methods of pricing interest rate and currency swapsCHAPTER 7 FOREIGN EXCHANGE RATE DETERMINATION AND FORECASTINGWhen you have finished studying this topic, you should be able to explain and describ

16、e:Exchange rate determination approaches, purchasing power parity, balance of payments, monetary and asset market approaches. Disequilibrium: exchange rates in emerging markets. Forecasting in practice Key points：Exchange rate determination approachesDifficulties：Forecasting in practiceCHAPTER 8 TRA

17、NSACTION EXPOSURESWhen you have finished studying this topic, you should be able to explain and describe:Types of Foreign Exchange ExposureTransactional risk exposure The possible techniques that management might adopt to manage translation exposureThe issues management has to weigh in deciding whic

18、h of the various approaches it should adopt in managing translation exposure.Key points： Measurement of translation exposureDifficulties：The possible techniques to manage translation exposureCHAPTER 9 OPERATING EXPOSURESWhen you have finished studying this topic, you should be able to explain and de

19、scribe:Operations risk exposure The possible techniques that management might adopt to manage operating exposureThe issues management has to weigh in deciding which of the various approaches it should adopt in managing operating exposure.Key points： Measurement of operating exposureDifficulties：The

20、possible techniques to manage operating exposureCHAPTER 10 TRANSLATION EXPOSURESWhen you have finished studying this topic, you should be able to explain and describe:Translation risk exposure The possible techniques that management might adopt to manage translation exposureThe issues management has

21、 to weigh in deciding which of the various approaches it should adopt in managing translation exposure.Key points： Measurement of translation exposureDifficulties：The possible techniques to manage translation exposure二、教学基本要求CHAPTER 1 FINANCIAL GOALS AND CORPORATE GOVERNANCECritical concepts include

22、 the ownership structure of the firm. Typically we assume a MNE is a publicly listed company where the concept of ownership-management separation is integral and has implications as captured by Agency Theory. This theory points to a potential for conflict based on differing goals and philosophies as

23、 to what those goals should be. Anglo-American firms typically operate under a shareholder wealth maximisation (SWM) philosophy. But non-Anglo-American firms are more likely to operate under a stakeholder capitalism model (SCM). The former argues the goal of the firm is to maximise the financial ret

24、urn to its shareholders. The latter has a wider and often longer term focus for return and benefit. Stakeholders extend beyond shareholders to include other groups such as workers, community and government.CHAPTER 2 THE BALANCE OF PAYMENTSInternational business transactions occur in many different f

25、orms over the course of a year. The measurement of all international economic transactions between the residents of a country and foreign residents is called the balance of payments (BOP)CHAPTER 3 FOREIGN EXCHANGE MARKETSForeign exchange means the money of a foreign country; that is, foreign currenc

26、y bank balances banknotes, checks and drafts. A foreign exchange transaction is an agreement between a buyer and a seller that a fixed amount of one currency will be delivered for some other currency at a specified date.CHAPTER 4 FOREIGN EXCHANGE THEORIESSome fundamental questions managers of MNEs,

27、international portfolio investors, importers, exporters and government officials must deal with every day are: What are the determinants of exchange rates? Are changes in exchange rates predictable? The economic theories that link exchange rates, price levels, and interest rates together are called

28、international parity conditions. These international parity conditions form the core of the financial theory that is unique to international finance.CHAPTER 5 FOREIGN CURRENCY DERIVATIVESThis topic requires you to work closely though the text. We study foreign currency derivatives. The two key curre

29、ncy derivative products to be studied are foreign currency futures and foreign currency options. The basic concepts are the same as those that apply to conventional futures and option products. The difference here is that the commodity being traded is a foreign currency.CHAPTER 6 INTEREST RATE AND C

30、URRENCY SWAPSWe study interest rate derivatives of which swaps are the dominant derivative traded in todays markets. In addition to your prescribed reading from the Text, Reading 5.1 is provided as an update on current developments in the OTC financial markets. It particular this article deals with

31、the regulatory reform initiatives being pursued in the US and Europe in the aftermath of the GFC. The growth in OTC markets is considered a contributor to the GFC and a serious regulatory risk for another crisis in the future. It is recommended you read this article at the end of your study of this

32、section.CHAPTER 7 FOREIGN EXCHANGE RATE DETERMINATION AND FORECASTINGIn this topic we examine the broad subject of exchange rates and their forecasting. There are several models for the assessing of future exchange rates. Superficially, these appear as if they are conflicting but in practice they sh

33、ould be view as complementary. The alternative approaches to explaining exchange rate determination are discussed in turn.CHAPTER 8 TRANSACTION EXPOSURESForeign exchange exposure is a measure of the potential for a firms profitability, net cash flow, and market value to change because of a change in

34、 exchange rates. An important task of the financial manager is to measure foreign exchange exposure and to manage it so as to maximize the profitability, net cash flow, and market value of the firm. The effect on a firm when foreign exchange rates change can be measured in several ways.CHAPTER 9 OPERATING EXPOSURESMeasuring the operating exposure of a firm requires forecasting and analyzing all the firms future individual transaction exposures together