Audience

Managers, prospective managers, and anyone else within an organization involved in making business decisions

Prerequisites

An understanding of the principles of business finance

Course Aim

To provide an overview of international finance and rates of exchange, and to describe the mechanics of investing in securities

Learning Objectives

Define foreign exchange and discuss foreign exchange rates. Discuss the differences between devaluation and revaluation. Discuss how international currency flows affect banks' reserves and the domestic money supply. Explain the elements of the balance of payment statement. Define eurodollars. Explore the role of the International Monetary Fund (IMF). Define LIBOR and Eurobonds. Discuss foreign trade and multinational firms. Explain how financing of foreign investment takes place. Describe how foreign investments affect a company's risk position. Explain how a company can reduce risk through hedging with futures.

Topics Covered

International finance - Foreign currencies - Exchange rates - The domestic money supply - Hands-on: Currency flows - Balance of payments - Financing foreign investments - Risk and foreign investments Security transactions - Market makers - Security exchanges - Reporting of transactions Investing in securities - Trading securities - Delivery of securities - The short sale Security markets - Aggregate security price measures - Regulation - Foreign securities - Competition Derivative securities - Options - Pricing of options - Hands-on: Calculating the price of an option - Quotations on options - Option risk and return - Warrants - Futures contracts - Quotations on futures

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