114-0411/03 – International Monetary Relations (MMV)

Gurantor departmentDepartment of EconomicsCredits4
Subject guarantordoc. Ing. Aleš Melecký, Ph.D.Subject version guarantordoc. Ing. Aleš Melecký, Ph.D.
Study levelundergraduate or graduateRequirementChoice-compulsory type B
YearSemestersummer
Study languageCzech
Year of introduction2011/2012Year of cancellation
Intended for the facultiesEKFIntended for study typesBachelor
Instruction secured by
LoginNameTuitorTeacher giving lectures
HLA31 Ing. Karel Hlaváček, Ph.D.
MEL044 doc. Ing. Aleš Melecký, Ph.D.
Extent of instruction for forms of study
Form of studyWay of compl.Extent
Part-time Credit 12+0

Subject aims expressed by acquired skills and competences

- To outline fundamentals of international currency markets and explain essential concepts in this area. - To describe relations between exchange rates and interest rates and to clarify their impacts upon spot and forward rates. - To identify major determinants of exchange rates development. - To explain differences among exchange rates regimes in common use and central bank's policy that is implied with their usage. - To define exchange rate risk and its management using currency derivatives. - To analyse structure of balance of payments using an example of the Czech republic.

Teaching methods

Lectures
Seminars

Summary

The course is focused on the basic concepts and the nature of international financial relations and on selected areas of theory and practice of international money markets. These areas include mainly foreign exchange markets, currency risk and its management using currency derivatives, determination and forecasting analysis of exchange rates and balance of payments. The seminar is practical examples of international monetary economics.

Compulsory literature:

MOFFETT, Michael H., Arthur I. STONEHILL a David K. EITEMAN. Fundamentals of multinational finance. Ed. 4th. Upper Saddle River: Pearson, c2012. ISBN 978-0-13-282991-5. MADURA, Jeff. International financial management. London: Cengage Learning, 2017. ISBN 978-1473725508.

Recommended literature:

SHAPIRO, Alan C. Multinational Financial Management. 10th ed., Wiley, 2013. ISBN 978-1118572382. EITEMAN, David K., Arthur I. STONEHILL a Michael H. MOFFETT. Multinational Business Finance. 14th ed., Harlow: Pearson Education Limited, 2016. ISBN 978-0133879872. BYFORD, M., and MANKIW, G. Principles of Macroeconomics: Australian Edition. 6th edition, South Melbourne: Cengage Learning Australia, 2014. ISBN 9780170248518, 536pp.

Way of continuous check of knowledge in the course of semester

E-learning

Other requirements

No special requirements

Prerequisities

Subject has no prerequisities.

Co-requisities

Subject has no co-requisities.

Subject syllabus:

Foreign exchange markets and their microstructure. - The function and structure of the foreign exchange market - Bodies involved in the foreign exchange markets - Interbank Foreign Exchange Market - Spot and forward transactions Second Forwards and swaps. - The establishment and development of futures transactions - Forward contracts - Swap contracts - Compared to other currency derivatives (futures, options) 3rd Exchange rate risk and exchange rate exposure. - The characteristics of foreign exchange exposure and currency risk - Transaction exposure - Economic exposure - Translational exposure 4th The globalization of financial markets and international banking. - Development and characteristics of the financial market? - New forms of international financing - The expected trends in the financial system 5th Euromoney markets and euroúvěry. - Creation euroměnových instrument? - Types euroúvěr? - The procedure for opening euroúvěru - Markets euronotes 6th Eurobonds. - Eurobond market - Forms eurobligací - Entrants eurobligací 7th Organization and Eurobond - Providing a course Eurobond - The costs of emissions eurobligací - Global bonds 8th Euroakcie. - Emissions shares foreign markets - Foreign shares - Global equities 9th International portfolio investment. - International investment and risk diversification - Foreign investment and CAPM - Selection of international portfolio 10th Foreign direct investment - International capital budgeting - Analysis of country risk - International Taxation 11th Macroeconomic models Determination exchange rates. - The asset market model - Determination of the course in the long term - Modern theories of exchange rate determination 12th Forecasting exchange rates. - Fundamental Analysis - the traditional theory of exchange rate - Technical Analysis - The relationship between fundamental and technical analysis 13th The financial crisis and forecasting. - Types and characteristics of financial crisis - Analysis of the causes of the crisis - Forecasting models 14th Analysis of the current account balance of payments - The structure of its balance of payments and balancing - The sustainability of the current account deficit - Intertemporal approach to the current account

Conditions for subject completion

Part-time form (validity from: 2017/2018 Winter semester)
Task nameType of taskMax. number of points
(act. for subtasks)
Min. number of pointsMax. počet pokusů
Credit Credit 100 (100) 51 3
        Written test Written test 100  51 3
Mandatory attendence participation: not specified

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Conditions for subject completion and attendance at the exercises within ISP:

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Occurrence in study plans

Academic yearProgrammeBranch/spec.Spec.ZaměřeníFormStudy language Tut. centreYearWSType of duty
2024/2025 (B0311A050004) Applied Economics (S01) International Economic Relations K Czech Ostrava Choice-compulsory type B study plan
2023/2024 (B0311A050004) Applied Economics (S01) International Economic Relations K Czech Ostrava Choice-compulsory type B study plan
2022/2023 (B0311A050004) Applied Economics (S01) International Economic Relations K Czech Ostrava Choice-compulsory type B study plan
2021/2022 (B0311A050004) Applied Economics (S01) International Economic Relations K Czech Ostrava Choice-compulsory type B study plan
2020/2021 (B0311A050004) Applied Economics (S01) International Economic Relations K Czech Ostrava Choice-compulsory type B study plan
2019/2020 (B0311A050004) Applied Economics (S01) International Economic Relations K Czech Ostrava Choice-compulsory type B study plan

Occurrence in special blocks

Block nameAcademic yearForm of studyStudy language YearWSType of blockBlock owner

Assessment of instruction

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