International Capital Markets

International Capital Markets
MÁSTER UNIVERSITARIO EN BANCA Y
FINANZAS (Finance & Banking)
Universidad de Alcalá
Curso Académico 2015/16
GUÍA DOCENTE
Nombre de la asignatura:
Código:
International Capital Markets
201561
Departamento y Área de
Conocimiento:
MÁSTER UNIVERSITARIO EN BANCA Y
FINANZAS (Finance & Banking)
Departamento de Economía y Dirección de
Empresas
Carácter:
Créditos ECTS:
Presencial
3,5
Curso y cuatrimestre:
1º
Profesorado:
Pilar Requena Cabezuelo
Profesor Titular UAH
Horario de Tutoría:
Idioma en el que se imparte:
16:30 – 17:30
Inglés
Titulación en la que se imparte:
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
2. Asses the role of financial derivatives to hedge risk in the international markets
3. CONTENIDOS
Total de clases,
créditos u horas
Bloques de contenido (se pueden especificar los
temas si se considera necesario)

The International Capital Markets: Spot and

Forward
4h

International Parity Conditions (theory)

4h

International Parity Conditions (empirical)

4h

Currency Futures and Options: Hedging FOREX

Strategies
4h

International Investment Risk and Valuation

4h
Cronograma (Optativo)
Semana /
Sesión
Contenido

01ª
The International Capital Markets: Spot and Forward
- Reading: “Globalisation: A bigger World”
- Simulator: “Oanda” http://www.oanda.com
- Game: “Spot Trader”. Player instructions

02ª
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”

03ª
International Parity Conditions (empirical)
- Readings: “The resilient dollar” “Making money of(f) Money”
- Case: BID “The Bank for International Development”
- Game: “Spot Trader”. Scenario 1 or 2

04ª
Currency Futures and Options: Hedging FOREX Strategies
- Reading: “Rogue Trader. Nicolas Leeson”
- Cases: “Baring Brothers & Co.”
- Video: « BBC/Horizon : The Midas Formula »

05ª
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
50
4.2. 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 calificación1
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
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 0.5.
.
6. 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.