International finance

• 20 hrs lectures
• 10 hrs exercises

Knowledge: Students will have an awareness of current questions and issues concerning the international financial system on the basis of a knowledge of its development, changes and factors that determine the form of this system as well as current issues and development trends within the European Union. Students will know the basic theory of the development of foreign exchange markets and the main trends in the development of that theory. Students can describe the influence of flows captured in the balance of payments accounts on the development of the exchange rate and the risks acting on enterprises. Students understand the functioning, organisation and structure of the international financial markets, including the specifics of investing on the international markets and investment banking, as well as key international finance institutions, their location, mission, aims and connection to managing an enterprise’s finances in the international environment.
Skills: Students can comprehensively evaluate the current situation and judge the anticipated trends within the international financial system with an emphasis on Economic and Monetary Union. Students are able to evaluate individual forms of foreign investment and apply knowledge from the area of the international financial markets in choosing the optimum means of finance. Students are able to independently find solutions to problems in the field of international finance and weigh up their impact on the corporate economy.
Abilities: Students are able to independently find solutions to problems in the field of international finance, recommend an appropriate solution and justify it in a competent manner.

The aim of the course is to acquaint students with developments and trends in the field of the international financial system, in the environment which provides the framework conditions for the financial management of enterprises in an international context, primarily in the European Union.

Knowledge of cash flows in enterprises, financial mathematics and an understanding of macroeconomics.

• SHAPIRO, A. C. Multinational Financial Management. 9. ed. University of Southern California, 2010. ISBN 978-0-470-45035-2.

Topics of lectures are the following:
importance of international finance;
risks of international business;
terms of payments;
short-term export finance;
long-term export finance;
export credit insurance;
export credit agencies.

Risk Management, Payment Methods, Documentary Collection, Insurance Policy of EGAP, Export Credit Agencies and Supported Credits.

For the awarding of a credit the following conditions must be fulfilled: active participation in seminars, and producing and presenting a seminar paper by the previously set deadline. The seminar paper mark has a weighting of 30% in the assessment examination.
Examination requirements: knowledge of the material covered and its practical application. In the form of a combined examination – a written test and if needed a supplementary oral examination. The examination is graded in accordance with the ECTS scale.

The course consists of lectures that cover the basic principles and methodology of the discipline, and problems. The seminars in particular promote a practical knowledge of the material presented in the lectures.

Control of results of independent work on assigned tasks. In case of excused absence from seminars, the teacher can set additional conditions if appropriate, usually the production of a partial written task.