International Finance

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.