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With the increasing global integration of money, capital markets and technology, an understanding of the foreign exchange environment in which multinational enterprises operate is fundamental to the financial management dimensions of operating such enterprises. An understanding of not only existing but also the emerging role of financial instruments and their applications in the international environment is critical to the operations of the modern multinational enterprise.

This course provides a systematic analysis of a representative range of analytical issues in international finance and investment against the background of global financial markets. The course initially examines the international monetary system and analyses exchange rates, their determinants and their relationship to significant economic factors. You will be exposed to currency and interest rate derivatives and the numerous hedging strategies that firms can adopt to mitigate currency risk as well as emerging financial instruments and their role in the international environment. The remainder of the course adopts the investment, financing and dividend decisions of firms and applies them to an international setting. The course uses a combination of real-world scenarios, problems and case studies to identify real world issues in international finance. After identification of the relevant issues, the generalised approach of problem formulation, modelling, solution, interpretation and implementation will be addressed.

On successful completion of this course students should be able to:

1. examine the characteristics of the Modern Multinational Enterprise (MMEs) and its role in the international financial system including the role of corporate social responsibility;
2. examine the theoretical and real world determinants of exchange rates and apply knowledge of the international monetary system and the function and structure of the foreign exchange market to solve problems facing multinational firms;
3. apply the appropriate numeracy skills and a knowledge of the nature and operation of forwards, futures, options and swaps to identify and manage various a firms foreign exchange exposure;.
4. analyse and explain a firms utilisation of the global capital market to minimise their international cost of capital and maximise availability of global equity and global debt capital;
5. examine the emerging role and application of Financial Instruments including cryptocurrencies in the international environment.