国际金融课程教学大纲英文版

1、Syllabus of International FinanceCourse Name： International FinanceCourse Code：Credits： 3Total Credit Hours： 48Lecture Hours：Experiment Hours： 0Programming Hours： 0Practice Hours： 0Total Number of Experimental (Programming) Projects 0Where, Compulsory ( 0 ), Optional ( 0 ).School： School of Business

2、Target Major： Major in Financial Economics and other Major at the School of BusinessI、Course Nature & AimsInternational Finance is a core course in all of financial majors, and also plays a very important role in the future career of students. This course makes up of the following important contents

3、: foreign exchange, exchange rates, foreign exchange market, determinants of exchange rates, international payments, theories on international payments, international financial marketsmoney markets and capital markets as well, international currency crisis, international banking crisis and financial

4、 crisis, international monetary system, especially international monetary regime, international financial institutions, International Monetary Fund, the World Bank Group, the Bretton Wood System, Post Bretton Wood era, G20, New Development Bank(NDB), Asian Infrastructural Investment Bank(AIIB), Chin

5、as role in the field of international finance. Through studying this course, students should have a whole basic knowledge on international finance, and also should master elemental skill of exchange rate calculating. Furthermore, the students should develop the capacity to analyze foreign exchange r

6、isk and give suggest on managing foreign exchange risk. In addition to the above, the students should also employ their class study to analyze contemporary international financial topics or issues such as Sino-US trade war and its effect on international trade.II、Course Objectives1. Moral Education

7、and Character Cultivation.Total122848812Sum1248V、Summary of Experimental (Programming) ProjectsNo experiment (programming) sessionVI、Teaching MethodIn order to realize the course teaching target, we may employ the following methods:No.l Class Lecture: during the sector, the teacher will take the cor

8、e role of the teaching and the students will lie at the second position, the exercise in-class and one off-class would distribute to students, the teacher would employ several methods during class lecture.No.2 Class Discussion: during the sector, the teacher may or may not take a role, and the class

9、 is up to the students in order to induce their innovation, organization, good environment, and the teacher will let the students have a choice of discussion topics ahead of the class.No.3 Enlightened Teaching: this is a relevant new teaching activity, the teacher wont read the book of PPT loudly, t

10、o the contrary, we would first introduce a question and then facilitate student to develop their own opinion or draw a conclusion of induce theoretical model by themselves. All in all, by employing the method, we want to develop the capability of learning by doing for the students.VII、Course Assessm

11、ent and Achievement EvaluationAssessment Methods： ExaminationExamination Formats： Closed-book.Grading Methods： Hundred-mark SystemCourse Assessment Content, Assessment Format and Supporting Course ObjectivesCourse Objectives(Indices)AssessmentContentAssessment Formats and Proportion ( % )GradingClas

12、sroomQuestioningAssignmentEvaluationRoutineTestExperimentReportTermReportTermPaperMidtermExamFinalExamProportion(%)Objective 1 (Index2.1/2.2)All of the chapters of the course101010202070Objective 2 (Index4.1/4.2/4.3)Calculation of cross rates, and forward rate1010Objective 3(Index 10.3)To develop an

13、 individual solution of foreign exchange risk management1010Objective 4(Index 1.1/1.2/1.3)RMB internationalization, Exchange rate reform, AIIB,NDB, Et al.1010Total1010101010102020100YUI、Course ResourcesTextbooks：Yuluo, Chen. International FinanceM.Beijing: Zhongguo Rcnmin University, 2017.Bibliograp

14、hy：Copeland, Laurence S. Exchange Rates And International FinanceM. Edinburg, UK: Pearson Education, 2014.Reading Materials：.Gang, Yi, and Zhang Lei. International FinanceM.Shanghai:Shanghai Peoples Publishing House, 1995. Financial Journals and Media in Chinese such as Financial Research Journal, S

15、hanghai Finance, Bankers, Financial Times, Economic Daily, Chinas Economy(Weekly), Security Daily, et. al.web sites： ; ; ;.IX、NotesPrerequisites: collegial mathematics, macroeconomics, microeconomics, the economics of money, banking, and financial markets, et al.Follow-up

16、Courses: financial engineering, financial econometrics, et al.Contents and Requirements of Students* Self-study: chapter 6, and chapter 8.Bilingual Teaching or Not: not, but will impose some readings in English.Requirements and Proportion of Bilingual Teaching: not applied.Discipline and Considerati

17、ons of Practice Session: no practice session.Notes:no.After studying this course, the students should bear in their mind the following facts: international finance (not a course but a field in the current international stage or international relationship) plays a very important role in stabilizing o

18、ne country domestic financial system or protecting her financial and economic interest. Historically, China has a less developed financial system and depressed or invaded by the west power. Now, we are in the discourse of realizing Chinas Dream, the field of international finance should and able to

19、do a good job. Then, the students should sincerely love the cultural and history of China, and both study hard and work hard in order to realizing the Chinas Dream. When there are awake the mentioned above, student will easy to understand the currency war between China and USA, and also understand t

20、he trade war ignited by the government of USA. They would also have an insight view on the setting up of AIIB and NDB as well. All in all, International Finance is a special economic course, yet able to produce so many moral, confidence, and character contents that benefit the goal in developing a h

21、igh quality professional person.Course ObjectivesThrough the study of this course, students1 qualities, skills, knowledge and abilities obtained are as follows： Objective l.to fully master the basic knowledge and main contents of International Finance(Corresponding to Chapter 1 to 8, supporting for

22、graduation requirements index2.2 3.1、3.2、10.1)Objective 2.to master some basic practical skill, mainly in foreign exchange and exchange rates such as trade skill and foreign exchange risk management as well(Corresponding to Chapter 1、5、6、8, supporting for graduation requirements index 2.3 4.1、4.2、7.

23、3、8.2、9.1 9.2 9.3、10.2)Objective 3.to master the basic analytical capacity about the current international financial field topicalissues or hot issues(Corresponding to Chapter 5,8, supporting for graduationrequirements index 3 3、 4. 3)Objective 4.to help the students have a international view when t

24、hey study International Finance in order to facilitate their future career or benefit their future higher level research study(Corresponding to Chapter 1 to 8, especially the 1,8 supporting for graduation requirements index 1. 1 、 1 2、 1. 3). Supporting for Graduation RequirementsThe graduation requ

25、irements supported by course objectives are mainly reflected in the graduationrequirements, as follows:Supporting for Graduation RequirementsCourseObjectivesGraduationRequirementsIndices and Contents Supporting for GraduationRequirementsTeachingTopicsLevel ofSupportIndicesContentsObjective 12.Compre

26、hensive knowledge abilityIndex2.1/2.22-1.Build a sound understanding of mathematics and natural science, and this knowledge can help to build financial models and solve financial problems. Master the principle of management, economics, and finance, which can be used to analyze the interaction betwee

27、n finance and economics. Skillfully manipulate computer software tools for business analysis and modelling.2-2. Understand the core concept of finance and its substantive areas, and perform ordinary business analysis and functions.Chapter 1to 8HObjective 24. Practical application abilityIndex4.1/4.2

28、/4.34-1. Use flexibly the acquired professional knowledge in financial practice.4-2. Digest, interpret, highlight, and present information from domestic and intematioanl sources, so as to provide consultation for the government, enterprises, financial institutions on practical issues.4-3. Apply prin

29、ciples of modern finance and economics as well as analytical tools to cope with practical challenges while conducting scientific research.Chapter1,5,6,8MObjective 31(). ProfessionalcompetenceIndex 10.310-3.Build wide-ranging professional expertise and enhance professional ability in analyzing and so

30、lving problems through their own body of knowledge.Chapter 5,8HObjective 41 .Literacy inIndex1-1. Demonstrate a firm political attitude and aAllMbasic values1.1/1.2/1.3strong sense of patriotism. Being a strong advocate of the leadership of the Communist Party of China, and well-versed in socialism

31、theory with Chinese characteristics.1-2. Establish firmly a positive outlook on the world, life and truth.1-3.Possess good ideological and moral character. Keep working conscientiously, meticulously and perseveringly, and develop a collaborative team culture.Chapters, especially1,8山、Basic Course Con

32、tentForeign Exchange and Exchange Rates (supporting course objectives 1,2,4)IntroductionForeign Exchange MarketExchange Rate Quotation/PricingIndex of Exchange RatesTeaching Requirements: After studying this chapter, the students should master the following contents: definitions of foreign exchange,

33、 exchange rates, types of foreign exchange, characterization of foreign exchange, the demand and supply of foreign exchange, and their effects on the price or quote of exchange rates, role of foreign exchange rates, structure of foreign exchange markets; the students should also completely know how

34、the exchange rates are priced, the direct quotation and the indirect quotation of exchange rates, different types of exchange rates, especially spot rate and forward rate as well, the cross rate calculation, volatility of exchange rate, the different pricing characterization of spot and forward rate

35、, calculating the ratio of appreciation and depreciation; furthermore, they also should master the basic knowledge of exchange rate index.Key Points： exchange rate quotation, calculation between exchange rates, and forward rate calculation Difficult Points： the forward and cross rate calculationExch

36、ange Rates Theories (supporting course objectives 1,2,4)IntroductionPurchasing Power Parity(PPP)2.3Interest Rate Parity(IRP)2.4International Payments Approach to Exchange Rate Theory2.5Monetary Approach to Exchange Rate Theory2.6Factors That Affect Exchange RatesTeaching Requirements: Though this ch

37、apter study, the learners should master the following important theories relating the determinants of exchange rates: the basic, benchmark, and very important theory of determinant of exchange rate, which has developed by the Sweden economist Gustav Cassel, covered interest rate parity, uncovered in

38、terest rate parity, which were systemically studied by English economist Keynes; when students study, they should compare different premise or supposition of different determinant, the core contents of different theories, and the main conclusions and insufficient of determinant theories as well; the

39、n they should employ single or composite determinant theory(ies) to analyze contemporary international financial hot issues, and able to develop their opinions such as the visible future trend of Renminbi/ US dollar.Key Points： calculation of Purchasing Power Parity and (Un) Covered Interest Rate Pa

40、rity, and Overshooting Theory developed by American economist DornbuschDifficult Points： to apply different determinant theories to current international financial field practice, especially the students advance theory into international financial hot issuesInternational Payments (supporting course

41、objectives 1,2,4)Introductiontructure and Composition of International Paymentsecond Principle of International Paymentsnalysis of International Paymentsynamical Analysis of Chinese International PaymentsTeaching Requirements: As the students finished this chapter study, they should completely maste

42、r the following contents: definitions of international payments and international investment position, which according to International Monetary Fund sixth BPM, composition of international payments and international investment position, main items of international payments, different of resident an

43、d citizen, different of individual resident and agent or institutions, record principles of international payments, the meanings of international payments surplus or deficit, imbalance of international payments, net errors or omissions; they should be able to draw the number of NEO from the whole in

44、ternational payments, and have a right look of the negative or positive sign before the figures of international payments; they should further to analyze recent Chinese international payments, and then check the economic and monetary policy employed by the central bank in China; and at last, they sh

45、ould have their own view as of Chinasexternal balance.Key Points： record principles of international payments, or accounting methods to record international payments, debit items and credit items, net or full out accounts, balance and their economic meanings and economic implications of the balance

46、as wellDifficult Points： how to calculate the balance of international payments, and the balance relationship among different items at the international payments.Theories of International Payments (supporting course objectives 1,2,4)Introductionmbalance of International Paymentslasticity Approach to

47、 International Paymentsultiplicity Approach to International Paymentsbsorption Approach to International Paymentsonetary Approach to International PaymentsTeaching Requirements: Along with this chapter; the students, first of all, should keep in their mind the following very important glossaries: im

48、balance of international payments, types of imbalance, adjustment methods to imbalance of all kind; then they should master the basic adjusting methods and macroeconomic policies employed by both the fiscal and monetary authority; furthermore, they are expected to understand fully elasticity approac

49、h, multiplier approach, absorption approach, and monetary approach as well, and they should be good aware of Marshall-Lerner Condition, with which they also be able to analyze current international financial issues.Key Points： elasticity approach, multiplier approach, absorption approach, and moneta

50、ry approach to international payments, and mutual relationship among those approachesDifficult Points： calculation and induction of the Marshall-Lerner Condition(MLC)Exchange Rate Regimes、Policy and Foreign Exchange Risk Management (supporting course objectives 1,2,3)IntroductionFixed Regime versus

51、Floating RegimeMonetary Integration and the Practice of the EuroForeign Exchange ProductsForeign Exchange Risk and ManagementTeaching Requirements: the goal of learning at this chapter is as the following: the students shouldcompletely master exchange rate regime, including its definition and role i

52、n modern market economicsystem, would be clear as of the different between fixed exchange rate regime and floating exchange rate, and have a thoroughly historic development of all main types of exchange rate regime; the student should study hard the Euro monetary integration and the practice of opti

53、mal common monetary areaNobelprize laureate Mundell has given important role to the issue, and the Euros international role and its implication to the international flnancial field; the students also should have a fully knowledge about spot or cash trading, forward trading, swap, future, and option

54、of foreign exchange; they must learn foreign exchange risk, and know how to management foreign exchange risk though different foreign exchange products; at last, they should give a solution to economic agent need of foreign exchange risk management, which need students make complicated use of theory

55、 and real environment that firm would face.Key Points ： the relevant merit of fixed exchange rate regime and floating exchange rate, the international politics of Euro, and foreign exchange risks and management methods.Difficult Points： the exogenous risk related to foreign exchange or exchange rate

56、s, how do manage foreign exchange risk in order to reduce firm or individual cost, or the increase gain /return of those.International Financial Markets and International Financial Crisis (supporting course objectives 1,2,4)6.1 Introduction6.2International Money Market and European Currency Markets6

57、.3International Capital Markets6.4International Financial Crisis and SolutionsTeaching Requirements: after studying this chapter, the students are expected to the following learn targets: to be able to figure out the discrepancy between domestic financial markets and international financial markets,

58、 to tell the difference between traditional international financial markets and modern international flnancial markets, to answer what offshore financial market is; to learn the development and history of European Monetary and Economic Integration, and know the course of Euro development, and also f

59、ind its role played in the field of international finance; to rightly analyze the merit and deficit of going to list in a foreign equity market, i.e., an international initial public offering(IIPO) ; the students also will study different international financial crisis such as currency crisis, banki

60、ng crisis, or twin crises, the recent international financial crisis originated in the U.K. and U.S.A., the cooperation among the Group Tvventy(G20) countries in order to deal with international financial crisis during the course of 2007-2010, the debt crisis taken place in the Euro area; lastly, th