Module Code: H8IFM
Long Title International Financial Management
Title International Financial Management
Module Level: LEVEL 8
EQF Level: 6
EHEA Level: First Cycle
Credits: 5
Module Coordinator: COLIN WHITSTON
Module Author: JOE NAUGHTON
Departments: School of Business
Specifications of the qualifications and experience required of staff  
Learning Outcomes
On successful completion of this module the learner will be able to:
# Learning Outcome Description
LO1 Demonstrate an understanding of the background and corporate use of international financial markets
LO2 Evaluate how exchange rates work, the advantages and disadvantages of various currency systems, and the theory and evidence relating to exchange rate determination
LO3 Analyse the pricing and risk management characteristics of FX derivatives: forwards, purchasing power parity and international fisher effects
LO4 Analyse practical hedging problems and design solutions and critically evaluate the suitability of these solutions from a risk / return perspective.
LO5 Apply capital budgeting techniques in a multicurrency environment.
Dependencies
Module Recommendations

This is prior learning (or a practical skill) that is required before enrolment on this module. While the prior learning is expressed as named NCI module(s) it also allows for learning (in another module or modules) which is equivalent to the learning specified in the named module(s).
No recommendations listed
Co-requisite Modules
No Co-requisite modules listed
Entry requirements

Programme entry requirements  
 

Module Content & Assessment

Indicative Content
International Flow of Funds
• Balance of payments, Current account, Capital and Financial Accounts, International Trade Flows, • Events that Increased International Trade, Trade Friction • Factors Affecting International Trade Flows • Impact of Inflation, Impact of national income Impact of government policies, Impact of exchange rates, • Agencies that facilitate international flows: International Monetary Fund, World Bank, World Trade Organization, Bank for International Settlements, OECD
Foreign Exchange Market
• History of Foreign Exchange: Gold Standard, Breton Woods, Floating Exchange Regime, Currency Crises • Foreign Exchange Transactions, • Exchange Rate Determination • Forward Futures and Options Markets• Measuring Exchange Rate Movements, • Exchange Rate Equilibrium, • Factors That Influence Exchange Rates • Quantitative forecasting of exchange rate movements: •Purchasing Power Parity • Interest Rate • International Fisher Effect
FX Derivatives and Risk Management
• FX Forwards, Deliverable and Non-Deliverable, Futures and Options • FX Forward Pricing Formula • Option pricing characteristics: factors that influence the value of options: • Spot •Strike •Time to maturity o• Interest Rates Volatility • Transaction Risk, Translation Risk and Economic Risk • Analysis of hedging problems using the above methods, about cost, best / worst outcomes, suitability for hedging uncertain cash flows
International Capital Budgeting
• Capital Budgeting Techniques: •Payback • Discounted Payback • NPV & IRR •NPV with taxes and depreciation under exchange rate uncertainty • Scenario and sensitivity analysis
Assessment Breakdown%
Coursework30.00%
End of Module Assessment70.00%

Assessments

Full Time

Coursework
Assessment Type: Continuous Assessment % of total: 30
Assessment Date: n/a Outcome addressed: 1,2,3
Non-Marked: No
Assessment Description:
Candidates are required to complete one in-class examinations. The in-class examination will be worth 30%.
End of Module Assessment
Assessment Type: Terminal Exam % of total: 70
Assessment Date: End-of-Semester Outcome addressed: 1,2,3,4,5
Non-Marked: No
Assessment Description:
Final Examination.
No Workplace Assessment
Reassessment Requirement
Repeat examination
Reassessment of this module will consist of a repeat examination. It is possible that there will also be a requirement to be reassessed in a coursework element.
Reassessment Description
Candidates will attempt the repeat assessment for the module, if they do not successfully pass the module. Learners are required to attempt all assessments attaching to a module. For those modules where all learning outcomes are assessable with a final examination, the student does not have to re-sit failed individual CA components.

NCIRL reserves the right to alter the nature and timings of assessment

 

Module Workload

Module Target Workload Hours 0 Hours
Workload: Full Time
Workload Type Workload Description Hours Frequency Average Weekly Learner Workload
Lecture Classroom and demonstrations 2 Every Week 2.00
Lecturer Supervised Learning Mentoring and small-group tutoring 1 Every Week 1.00
Directed Learning Directed e-learning 3 Every Week 3.00
Independent Learning Independent learning 8 Every Week 8.00
Total Weekly Contact Hours 6.00
 

Module Resources

Recommended Book Resources
  • Hillier, H, Ross,S.A., Westerfield,R.W., Jaffe,J. and Jordan, B.D. (2013), Corporate Finance, 2nd Ed.. McGraw-Hill Higher Education, UK.
  • Walsh, C. (2011), Key Management Ratios, 4th Ed. FT Prentice Hall.
Supplementary Book Resources
  • Brealey,R.A., Myers, S.C., and Allen, F. (2013), Principles of Corporate Finance, 11th Ed. McGraw Hill Higher Education.
  • Stephen Ross,Randolph Westerfield,Jeffrey Jaffe. (2009), Corporate Finance with S&P card, McGraw-Hill/Irwin, [ISBN: 978-0077337629].
  • Stephen Lumby,Chris Jones. (2003), Corporate Finance, Cengage Learning, p.796, [ISBN: 978-1861529268].
  • Mark Grinblatt,Sheridan Titman. (2002), Financial Markets & Corporate Strategy, McGraw-Hill/Irwin, p.940, [ISBN: 978-0072294330].
  • Glen Arnold. (2006), Essentials of Corporate Financial Management, Financial Times/Prentice Hall, p.514, [ISBN: 978-1405847049].
This module does not have any article/paper resources
This module does not have any other resources
Discussion Note: