Lecture_01_2007

Lecture_01_2007 - International Finance FINA 5331 Lecture...

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International Finance FINA 5331 Lecture 1: Why study International Finance? William J. Crowder Ph.D.
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What this class will and won’t do This course will teach you: About Foreign Exchange (FX) rates and markets. How FX rates affect the economy and general business climate. Basics of FX risk and hedging strategies. How government policies affect the exchange rate. How FX rates are determined by other economic factors like interest rates and prices. How international portfolio diversification is beneficial. Some basics of FX forecasting and Technical Analysis. And more …
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What this class will and won’t do This course will not teach you: How to make money by speculating in the Foreign Exchange (FX) market. How FX rates affect the your specific business or company. Sophisticated FX hedging strategies. How to predict exchange rates accurately to make money by speculating in the FX market. How to open a brokerage account so you can speculate in the FX market.
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Overview The Changing Financial Landscape The Expanding Menu of Financial Choices Greater Volatility as a Feature of Financial Markets Increased Competition Within and Among Financial Markets Financial Crises and Contagion Among International Financial Markets
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Overview Major Themes Prices in International Financial Markets Price Determinants Price Relationships Price Changes Pricing Efficiency
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Overview Policy Issues in International Financial Markets Policy Issues for Individuals and Private Enterprises in International Financial Markets Policy Issues for Public Policymakers in International Financial Markets
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Overview Challenges in the Study of International Financial Markets and the Practice of International Financial Management The Importance of Foreign Exchange outside the United States The Importance of Foreign Exchange in the United States The Study of International Financial Markets: More Demanding
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Overview A Road Map Summary of Major Topics Typical Chapter Outline
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The Changing Financial Landscape Some changes have been gradual. The smaller role played by the United States and the U.S. dollar. The growing importance of new financial products, new financial institutions, and “emerging” markets around the world. Other changes were more abrupt . The collapse of the pegged exchange rate system in the early 1970s (Bretton Woods) and in the latter half of the 1990s (Mexico, Thailand, Korea, etc.).
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The Changing Financial Landscape The menu of financial choices is expanding . Financial engineering: Corporate issuers and private investors have at their disposal innumerable futures and option contracts to acquire or lay off risks associated with economy-wide shocks or with firm- specific events. Financial markets have greater volatility now
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Lecture_01_2007 - International Finance FINA 5331 Lecture...

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