Teaching plan for the course unit

 

 

Close imatge de maquetació

 

Print

 

General information

 

Course unit name: Global Financial Markets

Course unit code: 573226

Academic year: 2021-2022

Coordinator: Samer Ajour El Zein

Department: Faculty of Economics and Business

Credits: 2,5

Single program: S

 

 

Estimated learning time

Total number of hours 62.5

 

Face-to-face and/or online activities

22.5

 

-  Lecture

Face-to-face

 

8

 

-  Lecture with practical component

Face-to-face

 

4

 

-  Group tutorial

Face-to-face

 

0.5

 

-  Problem-solving class

Face-to-face

 

4

 

-  Practical exercises

Face-to-face

 

4

 

-  Student presentation and discussion

Face-to-face

 

2

Supervised project

20

Independent learning

20

 

 

Competences to be gained during study

 

Basic and general competences

CG1. Creative and entrepreneurial skills (capacity to conceive, design and manage projects, and to research and integrate new knowledge and approaches).

CG2. Capacity to propose a business project based on an original idea and to assess its feasibility.

CB6. Knowledge forming the basis of original thinking in the development or application of ideas, typically in a research context.

CB7. Capacity to apply the acquired knowledge to problem-solving in new or relatively unknown environments within broader (or multidisciplinary) contexts related to the field of study.

CB8. Capacity to integrate knowledge and tackle the complexity of formulating judgments based on incomplete or limited information, taking due consideration of the social and ethical responsibilities involved in applying knowledge and making judgments.

CB9. Capacity to communicate conclusions, judgments and the grounds on which they have been reached to specialist and non-specialist audiences in a clear and unambiguous manner.

CB10. Skills to enable lifelong self-directed and independent learning.

Specific competences

CE1. Capacity to apply the main concepts and management tools to resolve advanced problems and business situations related to the strategic, financial, commercial, operational and logistics management of international companies.

CE2. Capacity to adopt a strategic, integrated approach to business problems and ability to address them effectively at an international level.

CE3. Capacity to analyse and interpret the economic and financial information generated by an international company in order to make well-considered decisions.

CE4. Capacity to plan and direct the financial and accounting organization of an international company or global group of companies, to ensure solvency and profitability.

CE9. Capacity to examine the options, potential and opportunities presented by different regions in the global economy and to identify the specific features of the various markets and societies involved, with a view to improving effectiveness and complying with demands on professional responsibility.

CE10. Capacity to acquire an advanced level of competence in the writing of scientific documents, specialized reports and research papers in which value judgements are formulated, complying with standard criteria for publication or for presentation to potential stakeholders or other interested parties at the global level.

 

 

 

 

Learning objectives

 

Referring to knowledge

This subject introduces students to real international financial markets, international financial institutions, the foreign exchange market and operations with financial assets in an international context.

Students study the opportunities and inherent risk exposures from participating in different financial markets. They analyse the main risk exposures in business operations: currency risk, interest rate risk and credit risk exposures. To do so, students learn the current state of the forex market, the use of derivative instruments to hedge risk and the use of central clearing houses to improve the efficiency of OTC markets, as well as a bird’s-eye description of money markets.

 

 

Teaching blocks

 

1. The forex market

1.1. The determination of exchange rates in equilibrium

1.2. Exchange rate regimes

1.3. Forward contracts

1.4. The law of one price and arbitrage conditions

2. Derivative contracts

2.1. Futures

2.2. Options

2.3. Swaps: interest rates and credit derivative instruments (CDS)

3. Clearing houses and credit risk mutualisation

4. Money markets

 

 

Teaching methods and general organization

 

Lectures are based on the presentation and discussion of the topics in class. Practical exercises are provided for many topics, whereas for others the explanation is based on the discussion of academic papers and case studies. The lecturer encourages active participation in class.

 

 

Official assessment of learning outcomes

 

Continuous assessment is based on the following activities:

1) Mid-term exam (multiple-choice test) (30%).

2) Selection, analysis and presentation of a topic or case study (30%).

3) Final exam (40%).

Students who fail this part (i.e., those with an average grade lower than 5 for parts 1-3) are entitled to repeat assessment. This exam assesses all the topics in the syllabus.

 

Examination-based assessment

Single assessment consists of a final exam on all the topics covered during the course. This exam contains comprehensive, open-answer questions and multiple-choice questions.

Students who obtain a grade lower than 5 are entitled to repeat assessment. This exam has the same structure as the final exam.

 

 

Reading and study resources

Consulteu la disponibilitat a CERCABIB

Book

LIAW, KT. (ed) The Routledge Handbook of Fintech. Routledge (2021)

  This book is an interesting recent book on finance and technological advances in the market in the application of derivatives.

HULL, JC.  Options, futures, and other derivatives.  Prentice Hall, 10th ed. (2018)

Catāleg UB  Enllaç

GREENBAUM, SI., THAKOR, AV., BOOT, A., eds. Contemporary financial intermediation. London, United Kingdom : Academic Press (2019)

Catāleg UB  Enllaç

CHANCE, DM.  Analysis of derivatives for the CFA program. Lousiana, Association for Investment Management and Research / Lousiana State University, 2003

  (This book is the classical reference for applications of derivatives for preparation for the CFA exams)

Catāleg UB  Enllaç