Course 2018-2019 a.y.

• Introduction to the International Financial Markets. International monetary Systems. Review of the balance of payments and current trends.
• Currency markets and the behaviour of the exchange rate. Understanding the working of spot and forward currency markets. 

• International parity conditions: purchasing power parity & interest rate parities. Carry trade strategy.

• Forecasting exchange rates: focus on macro modelling.

• Types of currency exposures at the corporate level (transactional, translational, competitive). Measurement techniques, hedging strategies and tools.
• International money markets and related benchmarks.
• International debt funding: syndicated loans and international bonds. 
• The basics of islamic finance.
• International equity markets and cross listing.
• International financial flows and new financial hubs in emerging countries.
• The global consolidation of stock exchanges.
• The impact of fintech on markets’ infrastructures. 

• Explain the Balance of Payments of a Country.
• Identify FX market prices and potential arbitrage opportunities.
• Describe international FX parities.
• Illustrate FX forecasting models.
• Identify sources of FX risks for a company.
• Describe international capital markets instruments and procedures.
• List main issues of Islamic Finance.
• Comment major innovations in financial market infrastructures.

• Evaluate prospects for a currency's apreciation/depreciation.
• Analyze and quantify exposure to FX risks.
• Evaluate and choose FX hedging tools.
• Compare financial alternatives for funding in international markets.
• Design a strategy for international listing.
• Improve his/her teamwork and communications skills.

• Face-to-face lectures
• Guest speaker's talks (in class or in distance)
• Case studies /Incidents (traditional, online)
• Group assignments

• Guest speaker's talks concern: practice in the FX markets; overview of international debt market; islamic finance; fintech in IFM.
• Case studies follow face-to-face lectures to improve a more practically oriented learning. They focus on: the globalization of Renmimbi; hedging FX risk in a multinational company; syndicated lending; international and sukuks bonds; international equities; internationalization of market infrastructures. 
• Groups assignment: students are requested to form groups and prepare a presentation to foreward cases' discussion.

Evaluation combine exam results (80% of the final grade) and class participation and group works (20% of the final grade).

• Attending students can split the exam into two parts, a partial examination and a final examination (each of them weighting 40% on final grade) or simply have one general exam at the end of the course (weighting 80% of final grade). In both cases attending students’ exam focuses on material discussed in class (included case studies) as well as book chapters indicated in the syllabus.
• Active class participation and group works on case studies weight 20% of final grade. Attending students shall read case studies before the class in order to facilitate general discussion. Attending students are also required to form groups and give at least a presentation of a case study among those scheduled for the course. Peer evaluation is applied on case study presentations. 

Not attending students must take the general exam on the whole book. 

• Selected chapters from:
  • C.S. EUN, B.G. RESNIK, International Financial Management, Mc Graw Hill International editions, 8th edition.
• Cases studies are indicated in September 2018 and made available through Course Reserve at Bocconi Library.

• C.S. EUN, B.G. RESNIK, International Financial Management, Mc Graw Hill International editions, 8th edition.