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lms.vsb.cz, course 114-0511/03 International Monetary Relations
International Monetary Relations
| Type of study | Follow-up MasterBachelor |
|---|---|
| Language of instruction | English |
| Code | 114-0511/03 |
| Abbreviation | IMR |
| Course title | International Monetary Relations |
| Credits | 4 |
| Coordinating department | Department of Economics |
| Course coordinator | doc. Ing. Aleš Melecký, Ph.D. |
Subject syllabus
1. Introduction to foreign exchange markets.
- Exchange rates and quotation.
- Function and structure of forex markets.
- Interbank forex market.
2. Arbitrage and spot transactions.
- Arbitrage and speculation.
- Types of transactions on forex markets.
- Spot transactions.
3. Forward transactions and hedging currency risk.
- Covered interest rate arbitrage.
- Quotation of forward transactions.
- Hedging in forward contracts.
4. Exchange rates.
- Types of exchange rates.
- Simple model of exchange rate determination.
- Equilibrium and stability in a forex market.
5. Currency futures.
- Characteristics of futures contracts.
- Factors influencing futures‘ markets.
- Hedging with futures.
6. Currency options.
- Characteristics of currency options.
- Value of an option.
- Hedging with currency options.
7. Currency swaps.
- Characteristics of currency swaps.
- Quotation of currency swaps.
- Types and process of currency swaps.
8. Exchange rate determination in short range - asset market model.
- Demand for a foreign asset.
- Difference between interest rates.
- Fisher‘s effect.
- Uncovered and covered interest rate parity.
9. Exchange rate determination in long range.
- Theory of purchasing power parity.
- Parity conditions‘ model.
10. Exchange rates management.
- Exchange rate regimes.
- Theoretical approaches to exchange rates managing.
- Currency interventions and their effectiveness.
11. Exchange rate policy in transition economies.
- Approaches in an exchange rate management.
- Tools of exchange rate policy.
- Exchange rate policy in Czech republic.
12. Currency crises.
- Reasons of currency crises.
- Forecasting models.
- Approaches to currency crises‘ solutions.
13. Balance of payments.
- Balance of payments‘ categories.
- Balance of payments in theoretical models.
- Adjusting of balance of payments.
- Exchange rates and quotation.
- Function and structure of forex markets.
- Interbank forex market.
2. Arbitrage and spot transactions.
- Arbitrage and speculation.
- Types of transactions on forex markets.
- Spot transactions.
3. Forward transactions and hedging currency risk.
- Covered interest rate arbitrage.
- Quotation of forward transactions.
- Hedging in forward contracts.
4. Exchange rates.
- Types of exchange rates.
- Simple model of exchange rate determination.
- Equilibrium and stability in a forex market.
5. Currency futures.
- Characteristics of futures contracts.
- Factors influencing futures‘ markets.
- Hedging with futures.
6. Currency options.
- Characteristics of currency options.
- Value of an option.
- Hedging with currency options.
7. Currency swaps.
- Characteristics of currency swaps.
- Quotation of currency swaps.
- Types and process of currency swaps.
8. Exchange rate determination in short range - asset market model.
- Demand for a foreign asset.
- Difference between interest rates.
- Fisher‘s effect.
- Uncovered and covered interest rate parity.
9. Exchange rate determination in long range.
- Theory of purchasing power parity.
- Parity conditions‘ model.
10. Exchange rates management.
- Exchange rate regimes.
- Theoretical approaches to exchange rates managing.
- Currency interventions and their effectiveness.
11. Exchange rate policy in transition economies.
- Approaches in an exchange rate management.
- Tools of exchange rate policy.
- Exchange rate policy in Czech republic.
12. Currency crises.
- Reasons of currency crises.
- Forecasting models.
- Approaches to currency crises‘ solutions.
13. Balance of payments.
- Balance of payments‘ categories.
- Balance of payments in theoretical models.
- Adjusting of balance of payments.
E-learning
Literature
MADURA, Jeff. International financial management. London: Cengage Learning, 2017. ISBN 978-1473725508 .
MISHKIN, Frederick, S., The Economics of Money, Banking and Financial Markets. London: Pearson 2015. ISBN 978-0133836790 .
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.
MISHKIN, Frederick, S., The Economics of Money, Banking and Financial Markets. London: Pearson 2015. ISBN 978-0133836790 .
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.
Advised literature
BYFORD, M., and MANKIW, G. Principles of Macroeconomics: Australian Edition. 6th edition, South Melbourne: Cengage Learning Australia, 2014. 536pp., ISBN 9780170248518
EITEMAN, David K., Arthur I. STONEHILL a Michael H. MOFFETT. Multinational Business Finance. 14th ed., Harlow: Pearson Education Limited, 2016. ISBN 978-0133879872 .
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 .
SHAPIRO, Alan C. Multinational Financial Management. 10th ed., Wiley, 2013. ISBN 978-1118572382 .