114-0322/06 – International Finance (MF)

Gurantor departmentDepartment of EconomicsCredits4
Subject guarantordoc. Ing. Aleš Melecký, Ph.D.Subject version guarantordoc. Ing. Aleš Melecký, Ph.D.
Study levelundergraduate or graduateRequirementChoice-compulsory
Year2Semesterwinter
Study languageCzech
Year of introduction2011/2012Year of cancellation
Intended for the facultiesEKFIntended for study typesFollow-up Master
Instruction secured by
LoginNameTuitorTeacher giving lectures
HLA31 Ing. Karel Hlaváček, Ph.D.
LIB009 prof. Dr. Ing. Jan Libich
MEL044 doc. Ing. Aleš Melecký, Ph.D.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Full-time Credit and Examination 2+1

Subject aims expressed by acquired skills and competences

- To interpret topics of international finance, its theoretical backgrounds and real events. - To explain impacts of exchange rate risk in company and discuss possibilities of measuring and managing exposures. - To design possible ways of financing through instruments that are offered in the international financial markets. - To argue advantages and disadvantages of various forms of international investments. - To evaluate process of financial crises - its causes, symptoms and consequences - including possibilities of their forecasting.

Teaching methods

Lectures
Seminars

Summary

This course deepens knowledge gained in basic courses of economics and finance of themes of financial relations, which take place among the subjects of international markets. The central themes of the course are selected topics from the international finance. These topics cover particularly foreign exchange markets, global markets of debt financial instruments, financial management of multinational corporations, financial crisis, determination and forecasting of exchange rates.

Compulsory literature:

DURČÁKOVÁ, Jaroslava a MANDEL, Martin. Mezinárodní finance a devizový trh. 2.vydání. Praha: EKOPRESS, 2020. 452 s. ISBN 978-80-87865-65-1. KRUGMAN, Paul R., Maurice OBSTFELD a Marc MELITZ. International Economics: Theory and Policy. 12th ed. Harlow: Pearson, 2023. 824 s. ISBN 978-1292409719. STROUKAL, Dominik. Ekonomické bubliny. 2. vyd. Praha: Grada, 2021. 272 s. ISBN 978-80-271-3172-3.

Recommended literature:

JÍLEK, Josef. Finance v globální ekonomice II: Měnová a kurzová politika. Praha: Grada, 2013. 560 s. ISBN 978-80-247-4516-9. MADURA, Jeff. International Financial Management. 14th ed. Boston: ‎ Cengage Learning, 2020. 736 s. ISBN 978-0357130544. REINERT, Kenneth A. An Introduction to International Economics: New Perspectives on the World Economy. 2nd ed. Cambridge:Cambridge University Press, 2020. 276 s. ISBN 9781108470056.

Way of continuous check of knowledge in the course of semester

Způsob ukončení předmětu ·Zápočet – test (max. 30 b., potřebné min. 16 b.) ·Zkouška – (max. 70b., minimum není stanoveno) ·Celkově je potřeba získat za zápočet a zkoušku min. 51 b. Podmínky absolvování pro studenty s individuálním plánem jsou stejné. Povinná účast na cvičeních není vyžadována.

E-learning

Other requirements

Nejsou další požadavky na studenta.

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

1. Introduction to foreign exchange markets. - Exchange rates and quotation. - Function and structure of forex markets. - Interbank forex market. - spot and forward transactions 2. Forward and swaps. - Evolution of forward transactions. - Forwards. - Swaps. - Comparison with other currency derivates (fututres, options). 3. Foreign exchange risk and exposure. - Characteristics of FX risk and exposure. - Transaction exposure. - Translation exposure. 4. Globalisation of financial markets and international banking. - Development of financial markets. - New forms of international financing. - Recent trends in development of international financial system. 5. Eurocurrency markets and eurocredits. - Development of Eurocurrency instruments. - Forms of eurocredits. - Euronotes markets. 6. Eurobonds. - Eurobond market. - Types of eurobonds. - Subjects of Eurobond markets. 7. Organisation of Eurobond issues. - Procedures of an Eurobond issue. - Costs of Eurobond issues . - Global bonds. 8. International share markets. - Share issues at foreign markets. - Foreign share markets. - Global shares. 9. International portfolio investments. - International investments and risk diversification. - Foreign investments and CAPM. - Selection of international portfolio. 10. Foreign direct investments. - International capital budgeting. - Country risk analysis . - International taxation. 11. Models of exchange rate determination. - Assets market model. - Determination in long run. - Modern theories of exchange rate determination. 12. Exchange rates management. - Exchange rate regimes. - Theoretical approaches to exchange rates managing. - Currency interventions and their effectiveness. 13. Financial crises. - Characteristics of financial crises. - Analysis of financial crises. - Forecasting models. 14. Balance of payments. - Balance of payments‘categories. - Adjusting of the balance of payments. - Sustainability of current account deficits.

Conditions for subject completion

Full-time form (validity from: 2011/2012 Winter semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of pointsMax. počet pokusů
Exercises evaluation and Examination Credit and Examination 100 (100) 51
        Exercises evaluation Credit 30 (30) 16 2
                Písemka Written test 30  16 2
        Examination Examination 70  0 3
Mandatory attendence participation: not specified

Show history

Conditions for subject completion and attendance at the exercises within ISP: The graduation conditions for students with an individual plan are the same. Compulsory participation in exercises is not required.

Show history

Occurrence in study plans

Academic yearProgrammeBranch/spec.Spec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2024/2025 (N0311A050012) Applied economics (S01) International Economic Relations MER P Czech Ostrava 1 Compulsory study plan
2024/2025 (N0311A050012) Applied economics (S02) Economic Development P Czech Ostrava Choice-compulsory type B study plan
2024/2025 (N0488A050004) Finance and Accounting (S01) Finance FIN P Czech Ostrava 2 Compulsory study plan
2024/2025 (N0311EKF023) Economics P Czech Ostrava 2 Choice-compulsory type B study plan
2023/2024 (N0311A050012) Applied economics (S02) Economic Development P Czech Ostrava Choice-compulsory type B study plan
2023/2024 (N0311A050012) Applied economics (S01) International Economic Relations MER P Czech Ostrava 1 Compulsory study plan
2023/2024 (N0488A050004) Finance and Accounting (S01) Finance FIN P Czech Ostrava 2 Compulsory study plan
2023/2024 (N0311EKF023) Economics P Czech Ostrava 2 Choice-compulsory type B study plan
2022/2023 (N0311A050012) Applied economics (S02) Economic Development P Czech Ostrava Choice-compulsory type B study plan
2022/2023 (N0311A050012) Applied economics (S01) International Economic Relations MER P Czech Ostrava 1 Compulsory study plan
2022/2023 (N0488A050004) Finance and Accounting (S01) Finance FIN P Czech Ostrava 2 Compulsory study plan
2021/2022 (N0311A050012) Applied economics (S02) Economic Development P Czech Ostrava Choice-compulsory type B study plan
2021/2022 (N0311A050012) Applied economics (S01) International Economic Relations MER P Czech Ostrava 1 Compulsory study plan
2021/2022 (N0488A050004) Finance and Accounting (S01) Finance FIN P Czech Ostrava 2 Compulsory study plan
2020/2021 (N6202) Economic Policy and Administration (6202T027) National Economy P Czech Ostrava 2 Choice-compulsory study plan
2020/2021 (N0311A050012) Applied economics (S01) International Economic Relations MER P Czech Ostrava 1 Compulsory study plan
2020/2021 (N0311A050012) Applied economics (S02) Economic Development P Czech Ostrava Choice-compulsory type B study plan
2020/2021 (N0488A050004) Finance and Accounting (S01) Finance FIN P Czech Ostrava 2 Compulsory study plan
2019/2020 (N6202) Economic Policy and Administration (6202T027) National Economy P Czech Ostrava 2 Choice-compulsory study plan
2019/2020 (N0311A050012) Applied economics (S01) International Economic Relations MER P Czech Ostrava 1 Compulsory study plan
2019/2020 (N0311A050012) Applied economics (S02) Economic Development P Czech Ostrava Choice-compulsory type B study plan
2019/2020 (N0488A050004) Finance and Accounting (S01) Finance FIN P Czech Ostrava 2 Compulsory study plan
2018/2019 (N6208) Economics and Management (6208T011) Economics and Law in Business P Czech Ostrava Choice-compulsory study plan
2018/2019 (N6202) Economic Policy and Administration (6202T027) National Economy P Czech Ostrava Choice-compulsory study plan
2017/2018 (N6208) Economics and Management (6208T011) Economics and Law in Business P Czech Ostrava Choice-compulsory study plan
2017/2018 (N6202) Economic Policy and Administration (6202T027) National Economy P Czech Ostrava Choice-compulsory study plan
2016/2017 (N6202) Economic Policy and Administration (6202T027) National Economy P Czech Ostrava 2 Choice-compulsory study plan
2016/2017 (N6202) Economic Policy and Administration (6210T004) European Integration P Czech Ostrava Choice-compulsory study plan
2016/2017 (N6208) Economics and Management (6208T011) Economics and Law in Business P Czech Ostrava 2 Choice-compulsory study plan
2015/2016 (N6202) Economic Policy and Administration (6202T027) National Economy P Czech Ostrava 2 Choice-compulsory study plan
2015/2016 (N6202) Economic Policy and Administration (6210T004) European Integration P Czech Ostrava Choice-compulsory study plan
2015/2016 (N6208) Economics and Management (6208T011) Economics and Law in Business P Czech Ostrava 2 Choice-compulsory study plan
2014/2015 (N6208) Economics and Management (6208T011) Economics and Law in Business P Czech Ostrava 2 Choice-compulsory study plan
2014/2015 (N6202) Economic Policy and Administration (6210T004) European Integration P Czech Ostrava Choice-compulsory study plan
2014/2015 (N6202) Economic Policy and Administration (6202T027) National Economy P Czech Ostrava 2 Choice-compulsory study plan
2013/2014 (N6209) Systems Engineering and Informatics (1802T001) Applied Informatics P Czech Ostrava 2 Choice-compulsory study plan
2013/2014 (N6202) Economic Policy and Administration (6210T004) European Integration P Czech Ostrava Choice-compulsory study plan
2013/2014 (N6202) Economic Policy and Administration (6202T027) National Economy P Czech Ostrava 2 Choice-compulsory study plan
2013/2014 (N6202) Economic Policy and Administration (6202T027) National Economy (00) National Economy P Czech Ostrava 2 Choice-compulsory study plan
2013/2014 (N6202) Economic Policy and Administration (6210T004) European Integration (00) European Integration P Czech Ostrava Choice-compulsory study plan
2012/2013 (N6202) Economic Policy and Administration (6202T027) National Economy (00) National Economy P Czech Ostrava 2 Choice-compulsory study plan
2011/2012 (N6202) Economic Policy and Administration (6202T027) National Economy (00) National Economy P Czech Ostrava 2 Choice-compulsory study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner

Assessment of instruction



2023/2024 Winter
2022/2023 Winter
2021/2022 Winter
2020/2021 Winter
2019/2020 Winter
2012/2013 Winter