The objective of this subject is to understand how to manage the risks and take advantage of opportunities in the global financial markets. The subject will provide an analytical framework to understand the fundamentals of the macroeconomic environment of international finance. Students will apply an array of financial instruments and tools for managing foreign exchange and country risk, raising capital in the global financial markets and valuing cross-border and multi-currency investments. This capstone subject employs the case method and will require students to integrate materials learned from other subjects to gain a more thorough understanding of the financial alternatives. Students will learn new techniques and tools and apply these and foundational finance concepts to international or cross-border settings. The primary themes will focus on understanding 1) the nature of international financial markets, 2) risk management and hedging by firms with international operations, 3) the advantages and disadvantages of the diverse sources of funds available from international financial markets, and 4) issues related to cross-border and multi-currency valuation.
Changes due to Commonwealth Games: The University has marginally altered the timetable for the January semester of 2018 (181) to ensure that students have the opportunity to engage with the Commonwealth Games to be held in April 2018. The modified timetable has been designed to not impact on overall subject or program learning outcomes. Some subjects may be delivered in a slightly modified mode to accommodate the change. Specific arrangements will be included on the iLearn site for each subject. All changes to the class schedule have the full approval of University and Academic Unit administration and will not adversely affect student learning or assessment.
|Academic unit:||Bond Business School|
|Subject title:||International Finance|
Delivery & attendance
|Attendance and learning activities:||This is a case-based subject. The classroom contribution grade strives to measure how you have contributed to the learning environment of your classmates. After each lecture session, I record my perceptions of each student's contribution and also refer to the peer assessor's notes. Then I record a grade with attendance, participation, contribution (as defined during the first class powerpoint slides) each allocated a score out of 1; you can receive more than 1/1 for contribution for a given class. You are expected to email me ([email protected]) in advance (if possible), if you have to be absent from a lecture.|
|Prescribed resources:|| |
|[email protected] & Email:||[email protected] is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student.|
To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au
Assurance of learning
Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.
At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.
Program Learning Outcomes (PLOs)
Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.
Subject Learning Outcomes (SLOs)
On successful completion of this subject the learner will be able to:
- Demonstrate the ability to identify and manage the risks faced by globally active firms and apply their knowledge and problem-solving techniques in capital raising and international valuation to take advantage of opportunities in the global financial markets.
- Work in a team setting to coordinate analysis of a case study to arrive at a sound financial decision regarding an international financing issue.
- Demonstrate the ability to deliver an effective oral presentation and to produce a clear and concise written report that demonstrates higher order understanding of key functions and concepts in international finance.
- Demonstrate the ability to select global financing strategies and propose ethically responsible solutions that will benefit the relevant stakeholders.
- Demonstrate an understanding of basic theorems of exchange rate determination, interest rates and inflation and the role of arbitrage in keeping the foreign exchange market efficient.
|Class Participation||Classroom Contribution||20%||Ongoing||1, 5.|
|Case Report §||Partner (Your Choice) Case Study Report||10%||Week 5||1, 2, 3, 4, 5.|
|Paper-based Examination (Limited Open)||Midterm Examination||40%||Mid-Semester Examination Period||1, 5.|
|Case Report||Individual Case Study Report||10%||Week 9||1, 3, 4, 5.|
|Case Report §||Team Case Study Report, Presentation and Peer Assessment||20%||Week 11||1, 2, 3, 4, 5.|
- § Indicates group/teamwork-based assessment
- * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
|High Distinction||85-100||Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking.|
|Distinction||75-84||Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas.|
|Credit||65-74||Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above.|
|Pass||50-64||Usually awarded to students whose performance meets the requirements set for work provided for assessment.|
|Fail||0-49||Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines.|
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Students must check the [email protected] subject site for detailed assessment information and submission procedures.
Policy on late submission and extensions
In fairness to your classmates, case reports cannot be accepted after the class discussion of that case. With instructor permission, an alternative assignment will be provided in situations where the deadline cannot be met.
Policy on plagiarism
University’s Academic Integrity Policy defines plagiarism as the act of misrepresenting as one’s own original work: another’s ideas, interpretations, words, or creative works; and/or one’s own previous ideas, interpretations, words, or creative work without acknowledging that it was used previously (i.e., self-plagiarism). The University considers the act of plagiarising to be a breach of the Student Conduct Code and, therefore, subject to the Discipline Regulations which provide for a range of penalties including the reduction of marks or grades, fines and suspension from the University.
Feedback on assessment
Feedback on assessment will be provided to students within two weeks of the assessment submission due date, as per the Assessment Policy.
If you have a disability, illness, injury or health condition that impacts your capacity to complete studies, exams or assessment tasks, it is important you let us know your special requirements, early in the semester. Students will need to make an application for support and submit it with recent, comprehensive documentation at an appointment with a Disability Officer. Students with a disability are encouraged to contact the Disability Office at the earliest possible time, to meet staff and learn about the services available to meet your specific needs. Please note that late notification or failure to disclose your disability can be to your disadvantage as the University cannot guarantee support under such circumstances.
Introduction; Globalization and the Multinational Firm; The Foreign Exchange Market
Midterm; Covers Weeks 1 - 6; 'Cheat Sheet' Allowed; 50% Quantitative; 50% Qualitative
International Valuation I; Introduction to IPOs; Working Session for Teams
International Valuation II Case: International IPO; IPO Road Show Role Play