International Capital Markets

Transcripción

1 International Capital Markets MÁSTER UNIVERSITARIO EN BANCA Y FINANZAS (Finance & Banking) Universidad de Alcalá Curso Académico 2015/16

2 GUÍA DOCENTE Nombre de la asignatura: International Capital Markets Código: Titulación en la que se imparte: Departamento y Área de Conocimiento: Carácter: Presencial Créditos ECTS: 3,5 Curso y cuatrimestre: 1º MÁSTER UNIVERSITARIO EN BANCA Y FINANZAS (Finance & Banking) Departamento de Economía y Dirección de Empresas Profesorado: Pilar Requena Cabezuelo Profesor Titular UAH Horario de Tutoría: 16:30 17:30 Idioma en el que se imparte: Inglés 1. PRESENTACIÓN This course introduces the student to International Capital Markets and Financial Management. The instructor will discuss first, how financing and investment decisions change when a firm operates in more than one country. The course then explores the international capital markets and currency parity conditions, including the relationship between spot and forward exchange rates, interest rates, and inflation rates. It will also explain the financial accounting and reporting issues unique to international business or that has an international dimension introducing the major problems faced by multinational firms and users of financial reports. The instructor will also explain the international capital markets and currency risk management and budgeting issues, as well as the commercial and political risk. Prerrequisitos y Recomendaciones (si es pertinente) 2. COMPETENCIAS Competencias genéricas: 1. Have a better understanding of the role of capital markets and financial management in a modern corporation Competencias específicas: 1. Analyse investment decisions in an international context

3 2. Asses the role of financial derivatives to hedge risk in the international markets 3. CONTENIDOS Bloques de contenido (se pueden especificar los temas si se considera necesario) Total de clases, créditos u horas The International Capital Markets: Spot and Forward International Parity Conditions (theory) International Parity Conditions (empirical) Currency Futures and Options: Hedging FOREX Strategies International Investment Risk and Valuation Cronograma (Optativo) Semana / Sesión 01ª 02ª 03ª Contenido The International Capital Markets: Spot and Forward - Reading: Globalisation: A bigger World - Simulator: Oanda - Game: Spot Trader. Player instructions International Parity Conditions (theory) - Readings: A short story of modern finance. Link by link - Case: The Economist FX Big Mac - Game: Practice Demo Spot Trader International Parity Conditions (empirical) - Readings: The resilient dollar Making money of(f) Money - Case: BID The Bank for International Development

4 04ª 05ª - Game: Spot Trader. Scenario 1 or 2 Currency Futures and Options: Hedging FOREX Strategies - Reading: Rogue Trader. Nicolas Leeson - Cases: Baring Brothers & Co. - Video: «BBC/Horizon : The Midas Formula» International Investment Risk and Valuation - Reading: International Banking: Paradise lost. - Cases: Eurotunnel or Exacta S.A - Game: Spot Trader. Scenario 3 or 4 4. METODOLOGÍAS DE ENSEÑANZA-APRENDIZAJE.-ACTIVIDADES FORMATIVAS 4.1. Distribución de créditos(especificar en horas) Número de horas presenciales: 20 Número de horas del trabajo propio del estudiante: 30 Total horas Estrategias metodológicas, materiales y recursos didácticos The methodology of the course includes both a general framework for analyzing international financial problems and some specific quantitative cases. The course highlights both theory and applications. Extensive use of investment tools, presents you with a challenging and reallife environment in which to apply your decision-making skills (e.g. Oanda and Spot Trader games). 5. EVALUACIÓN: Procedimientos, criterios de evaluación y de calificación 1 1 Es importante señalar los procedimientos de evaluación: por ejemplo evaluación continua, final, autoevaluación, co-evaluación. Instrumentos y evidencias: trabajos, actividades. Criterios o indicadores que se van a valorar en relación a las competencias: dominio de conocimientos

5 1. Attendance, particpation, exercises and assignments: 50% 2. Final Exam: 50%. Attendance Essential. All absences must be notified. Only justified absences will be considered. Reasons for absence must be duly documented, as all absences regarding health etc. must be authorised by the Professor so that the coordinator can account for the absence with an authorised report form the Professor. Non-justified absence during one session will result in the loss of 0.2 points out of 0.5. Non-justified absence during two sessions will result in the loss of 0.4 points out of 0.5. Non-justified absence during three or four sessions will result in the loss of 0.5 points out of BIBLIOGRAFÍA Bibliografía Básica Brealey, Myers and Allen; Principles of Corporate Finance, 9th edition McGraw-Hill, 2009 (Chapter 28th) Eiteman, D.K., Stonehill, A.I. and Moffett, M.H.. Multinational Business Finance, 10th ed. Reading, Ma: Addison-Wesley Publishing Company Inc., 2004 (Chapters 4 to 10th) Shapiro, A. C. Fundations of Multinational Financial Management, 7th edition, Wiley and Sons; Inc. N.Y., 2003 (Chapters 1 to 4 and 7 to 11th) Bibliografía Complementaria (optativo) conceptuales, aplicación, transferencia conocimientos. Para el sistema de calificación hay que recordar la Normativa del Consejo de Gobierno del 16 de Julio de 2009: la calificación de la evaluación continua representará, al menos, el 60%. Se puede elevar este % en la guía.