This course is designed to provide students with the theoretical and analytical skills necessary to understand and evaluate key financial issues in the international finance and capital markets. Students will be introduced to fundamental principles of international financial management, and also become familiar with financial hedging strategies. Main topics include the international money market, international banking, exchange rate determination and purchasing power parity, effects of financial globalization, as well as financial risk management methodologies. 

Learning Outcomes

Upon successful completion, students will have the knowledge and skills to:

1. Express an in depth understanding of key international finance concepts and their application in international financial markets;
2. Collate, interpret and critically analyse international financial data; and,
3. Critically analyse the risks for businesses operating in the global environment.

Research-Led Teaching

Students will acquire the following research skills in this course:

·        Link and apply the theoretical concepts discussed in this course to real world issues;

·        Develop basic research skills and learn to obtain relevant, up-to-date information;

·        Be able to analyse and authenticate current information, and turn it into knowledge;

·        Interpret information and summarize results;

·        Develop the ability to engage in informed critical analysis; and

·        Present, discuss and defend a point of view.

Field Trips

No.

Additional Course Costs

Examination Material or equipment

The final examination is a 24-hour take-home examination. Unless otherwise stated, all materials covered in this course are potentially examinable. You need a NON-PROGRAMMABLE CALCULATOR for the final examination.

Required Resources

The course materials are downloadable from Wattle. It is your responsibility to check Wattle before every class. In addition, you are expected to be familiar with the use of Microsoft (MS) Word, MS Excel, MS PowerPoint and Adobe Acrobat PDF Reader. You have to make sure that you can access course materials with these software packages.

You are also expected to regularly follow the weekly class materials.

You need a NON-PROGRAMMABLE CALCULATOR for the course. Please have it with you when you view the lectures.

The recommended textbook titled “International Financial Management” by Eun and Resnick (2018) is available from the publisher's website and at the ANU Library. An electronic version of the textbook is available from ProQuest Ebook Central via the ANU Library website once you have logged on.

Most of the course comprises material from Eun and Resnick (2018); for specific chapters assigned for each topic, refer to the weekly Study Schedule and Wattle. The lectures will follow the text fairly closely but may include additional materials (such as journal articles, specialized reports and video clips) that are not available in the text. Additional readings may be assigned and details will be provided on the course website.

Recommended Resources

Background materials from the prerequisite courses (FINM7006/FINM1001 and STAT7055) are available from Wattle.

CFA Materials (available at https://cfainstitute.org/ethics/codes):

CFA Code of Ethics and Standards of Professional Conduct

CFA Standards of Practice Handbook

Check Wattle for further information.

You need a NON-PROGRAMMABLE CALCULATOR for this course. Please have it with you when you go through the lecture material.

Additional learning materials (such as refereed journal articles, specialist reports and video clips) will also be posted on Wattle from time to time; it is your responsibility to download them as part of the required student preparation. Check Wattle regularly for further information.

Staff Feedback

Students will be given feedback in the following forms in this course:

• Written comments
• Verbal comments
• Feedback to the whole class, to groups, to individuals, focus groups

Student Feedback

ANU is committed to the demonstration of educational excellence and regularly seeks feedback from students. Students are encouraged to offer feedback directly to their Course Convener or through their College and Course representatives (if applicable). The feedback given in these surveys is anonymous and provides the Colleges, University Education Committee and Academic Board with opportunities to recognise excellent teaching, and opportunities for improvement. The Surveys and Evaluation website provides more information on student surveys at ANU and reports on the feedback provided on ANU courses.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Additional learning materials (such as refereed journal articles, specialist reports and video clips) will also be posted online from time to time; it is your responsibility to download them as part of the required student preparation. You have to come to class prepared with answers to the practice questions and exercises. Introduction to international finance Foreign exchange markets Lecture slides Eun and Resnick (8th edition) Chapter 5 Additional readings (such as journal articles) and other supplementary materials (such as video clips) may be assigned. Check Wattle for updates.	Short quizzes may be discussed. These quizzes are not graded but they give you feedback on your progress.
2	Foreign exchange market systems Lecture slides Eun and Resnick (8th edition) Chapter 2 Additional readings (such as journal articles) and other supplementary materials (such as video clips) may be assigned. Check Wattle for updates.	Short quizzes may be discussed. These quizzes are not graded but they give you feedback on your progress.
3	Exchange rate determination Lecture slides Eun and Resnick (8th edition) Chapters 5 and 6 Additional readings (such as journal articles) and other supplementary materials (such as video clips) may be assigned. Check Wattle for updates.	Short quizzes may be discussed. These quizzes are not graded but they give you feedback on your progress. Practice Questions and Exercises (PQE): not graded.
4	International parity conditions Lecture slides Eun and Resnick (8th edition) Chapters 5 and 6 Additional readings (such as journal articles) and other supplementary materials (such as video clips) may be assigned. Check Wattle for updates.	Short quizzes may be discussed. These quizzes are not graded but they give you feedback on your progress. Practice Questions and Exercises (PQE): not graded.
5	Arbitrage and speculation Lecture slides Eun and Resnick (8th edition) Chapters 5 and 6 Additional readings (such as journal articles) and other supplementary materials (such as video clips) may be assigned. Check Wattle for updates.	Short quizzes may be discussed. These quizzes are not graded but they give you feedback on your progress. Practice Questions and Exercises (PQE): not graded.
6	Foreign exchange risk management Lecture slides Eun and Resnick (8th edition) Chapters 8, 9, and 10 Additional readings (such as journal articles) and other supplementary materials (such as video clips) may be assigned. Check Wattle for updates.	Short quizzes may be discussed. These quizzes are not graded but they give you feedback on your progress. Practice Questions and Exercises (PQE): not graded.
7	Special topic I Mid-semester take-home assignment Lecture slides Additional readings (such as journal articles) and other supplementary materials (such as video clips) may be assigned. Check Wattle for updates.	Short quizzes may be discussed. These quizzes are not graded but they give you feedback on your progress. Practice Questions and Exercises (PQE): not graded. Mid-semester take-home assignment.
8	Special topic I Lecture slides Additional readings (such as journal articles) and other supplementary materials (such as video clips) may be assigned. Check Wattle for updates.	Short quizzes may be discussed. These quizzes are not graded but they give you feedback on your progress. Practice Questions and Exercises (PQE): not graded.
9	Special topic II Lecture slides Additional readings (such as journal articles) and other supplementary materials (such as video clips) may be assigned. Check Wattle for updates.	Short quizzes may be discussed. These quizzes are not graded but they give you feedback on your progress. Practice Questions and Exercises (PQE): not graded.
10	Special topic II Lecture slides Additional readings (such as journal articles) and other supplementary materials (such as video clips) may be assigned. Check Wattle for updates.	Short quizzes may be discussed. These quizzes are not graded but they give you feedback on your progress. Practice Questions and Exercises (PQE): not graded.
11	Special topic III Lecture slides Additional readings (such as journal articles) and other supplementary materials (such as video clips) may be assigned. Check Wattle for updates.	Short quizzes may be discussed. These quizzes are not graded but they give you feedback on your progress. Practice Questions and Exercises (PQE): not graded.
12	Special topic III Lecture slides Additional readings (such as journal articles) and other supplementary materials (such as video clips) may be assigned. Check Wattle for updates.	Short quizzes may be discussed. These quizzes are not graded but they give you feedback on your progress. Practice Questions and Exercises (PQE): not graded.

Tutorial Registration

There are no separate tutorials for this course. Short Quizzes and Practice Questions and Exercises are incorporated in the weekly classes.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
SHORT QUIZZES (SQ)	0 %	22/02/2021	28/05/2021	1,2,3
PRACTICE QUESTIONS AND EXERCISES (PQE)	0 %	09/03/2021	28/05/2021	1,2,3
MID-SEMESTER EXAM - Please check ANU Timetabling for further information	25 %	29/03/2021	23/04/2021	1,2,3
FINAL EXAM - Please check ANU Timetabling for further information	75 %	03/06/2021	01/07/2021	1,2,3

* If the Due Date and Return of Assessment date are blank, see the Assessment Tab for specific Assessment Task details

Policies

ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students are aware of the University’s academic standards, and implement them. Students are expected to have read the Academic Misconduct Rule before the commencement of their course. Other key policies and guidelines include:

• Student Assessment (Coursework) Policy and Procedure
• Special Assessment Consideration Policy and General Information
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure

Assessment Requirements

The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. For additional information regarding Turnitin please visit the ANU Online website Students may choose not to submit assessment items through Turnitin. In this instance you will be required to submit, alongside the assessment item itself, hard copies of all references included in the assessment item.

Moderation of Assessment

Marks that are allocated during Semester are to be considered provisional until formalised by the College examiners meeting at the end of each Semester. If appropriate, some moderation of marks might be applied prior to final results being released.

Participation

Attendance and class participation are NOT formal assessment items for this course. However, your enrolment in this class implies your commitment to regularly follow the lecture materials. Additionally, note that consultation hours are not substitutes for going through the lecture materials. You are also reminded that there is a highly positive correlation between regular study and overall performance in this course.

Course content delivery will take the form of pre-recorded weekly lectures (available via echo360 on Wattle). There will be drop-in sessions during the semester to substitute for traditional tutorials and may cover specific areas of interest flagged by students. These sessions will be run in a hybrid format (on campus, live through scheduled Zoom sessions and as pre-recorded videos). Please refer to Wattle for further details about these sessions.

Examination(s)

Both the mid-semester exam and the final exam are centrally scheduled examinations through Examinations, Graduations & Prizes. They will be timetabled prior to the examination period. Please check ANU Timetabling for further information.

Assessment Task 1

SHORT QUIZZES (SQ)

Short Quizzes (SQ) will be given in the lectures regularly. These quizzes are not graded as formal assessment tasks. However, they are incorporated as part of the weekly lecture activities to motivate you to stay current in the course and engage with the material. We will discuss the answers to the SQ after you have completed them in the lectures. You should view the process of answering these quizzes as an important channel of receiving individual feedback on how well you have mastered the concepts in this course. In addition, you should treat these quizzes as a form of preparation for the mid-semester and final exams (which are graded assessment tasks).

Assessment Task 2

PRACTICE QUESTIONS AND EXERCISES (PQE)

Practice Questions and Exercises (PQE) will be assigned and discussed regularly in the weekly lectures. These questions and exercises will be posted on Wattle throughout the semester. Although the Practice Questions and Exercises are not graded as formal assessment tasks, it is your responsibility to work on them before the lectures. You should view the process of answering these questions and exercises as an important channel of receiving individual feedback on how well you have mastered the concepts in this course. In addition, you should treat these questions and exercises as a form of preparation for the mid-semester and final exams (which are graded assessment tasks).

Assessment Task 3

MID-SEMESTER EXAM - Please check ANU Timetabling for further information

·        The mid-semester exam (24-hour take-home exam posted on Wattle) will be held in Weeks 6-7 of the semester. Students will answer questions related to international finance. These questions will be a mixture of theoretical and quantitative questions. All questions are compulsory.

·        The exam will commence punctually. To be fair to all the students, latecomers will not be given extra time. As such, please make sure that you are punctual for the exam.

·        The exam is individual, optional and redeemable for this course.

·        The exam is open-book, cumulative and comprehensive. The content for the exam will be based on all the materials covered in Topics 1 to 5 (inclusive).

·        You must have a NON-PROGRAMMABLE CALCULATOR and writing materials with you when you attempt the exam.

·        You must upload your answers on Wattle within the 24-hour period. You can hand-write or type your answers, which must be clear and legible for the marker. You may lose marks if your scanned answers are unclear or illegible. Late submissions will not be accepted. Email submissions will not be accepted. Multiple submissions will not be accepted.

·        The exam will usually be marked and returned to students three weeks after the exam.

·        After the exam is held, we will devote one class to discuss it. During that class, feedback will be provided on key areas of difficulty encountered by students and how answers could be improved. The exam is held so that you are given feedback on your performance. Please treat the exam seriously.

·       Students must be aware of the rules governing academic misconduct according to the Academic Misconduct Rules. Breaches of academic misconduct (such as cheating, plagiarism, collusion, and contract cheating) have serious consequences, including the possibility of receiving a zero for the course and potential suspension from the ANU. Detailed explanations about the breaches are available from the ANU website (https://services.anu.edu.au/education-support/academic-integrity/determining-a-potential-breach). Pursuant to Clause 17 of the Academic Misconduct Rules, if the alleged academic misconduct were treated as a "very minor breach of the academic integrity principle" after initial review by the review officer, there would be a "reduction of marks of up to 10% of the total marks available for the assessment". Subject to the confirmation of the mid-semester exam date by the ANU Exams Office, further guidelines for the exam will be provided in Week 4.

· If you would like to apply for Special Consideration for the exam, refer to the Special Assessment Consideration website for further details.

Assessment Task 4

FINAL EXAM - Please check ANU Timetabling for further information

·        The final examination (24-hour take-home exam posted on Wattle) is open-book, cumulative and comprehensive. Unless otherwise stated, all the materials covered in this course are potentially examinable in the final examination. Students will answer questions related to international finance. These questions will be a mixture of theoretical and quantitative questions. All questions are compulsory. You need to use a NON-PROGRAMMABLE calculator for the final examination.

·        The final exam guidelines will be provided in Week 10.

·        You must upload your answers on Wattle within the 24-hour period. You have to type your answers, which must be clear and legible for the marker. You may lose marks if your scanned answers are unclear or illegible. Late submissions will not be accepted. Email submissions will not be accepted. Multiple submissions will not be accepted.

·       Students must be aware of the rules governing academic misconduct according to the Academic Misconduct Rules. Breaches of academic misconduct (such as cheating, plagiarism, collusion, and contract cheating) have serious consequences, including the possibility of receiving a zero for the course and potential suspension from the ANU. Detailed explanations about the breaches are available from the ANU website (https://services.anu.edu.au/education-support/academic-integrity/determining-a-potential-breach). Pursuant to Clause 17 of the Academic Misconduct Rules, if the alleged academic misconduct were treated as a "very minor breach of the academic integrity principle" after initial review by the review officer, there would be a "reduction of marks of up to 10% of the total marks available for the assessment".

· If you would like to apply for Special Consideration for the exam, refer to the Special Assessment Consideration website for further details.

Academic Integrity

Academic integrity is a core part of our culture as a community of scholars. At its heart, academic integrity is about behaving ethically. This means that all members of the community commit to honest and responsible scholarly practice and to upholding these values with respect and fairness. The Australian National University commits to embedding the values of academic integrity in our teaching and learning. We ensure that all members of our community understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. The ANU expects staff and students to uphold high standards of academic integrity and act ethically and honestly, to ensure the quality and value of the qualification that you will graduate with. The University has policies and procedures in place to promote academic integrity and manage academic misconduct. Visit the following Academic honesty & plagiarism website for more information about academic integrity and what the ANU considers academic misconduct. The ANU offers a number of services to assist students with their assignments, examinations, and other learning activities. The Academic Skills and Learning Centre offers a number of workshops and seminars that you may find useful for your studies.

Online Submission

The ANU uses Turnitin to enhance student citation and referencing techniques, and to assess assignment submissions as a component of the University's approach to managing Academic Integrity. While the use of Turnitin is not mandatory, the ANU highly recommends Turnitin is used by both teaching staff and students. For additional information regarding Turnitin please visit the ANU Online website.

Hardcopy Submission

Hard copy submission is not available for this course.

Late Submission

No submission of assessment tasks without an extension after the due date will be permitted. If an assessment task is not submitted by the due date, a mark of 0 will be awarded. OR Late submission of assessment tasks without an extension are penalised at the rate of 5% of the possible marks available per working day or part thereof. Late submission of assessment tasks is not accepted after 10 working days after the due date, or on or after the date specified in the course outline for the return of the assessment item. Late submission is not accepted for take-home examinations.

Referencing Requirements

Accepted academic practice for referencing sources that you use in presentations can be found via the links on the Wattle site, under the file named “ANU and College Policies, Program Information, Student Support Services and Assessment”. Alternatively, you can seek help through the Students Learning Development website.

Returning Assignments

The results for the mid-semester exam will usually be available three weeks after the exam is held. Due to the huge enrolment figure for this course, please note that there can be delays in processing the marks for the exam.

The mid-semester exam marks will be uploaded to the Wattle Gradebook feature for the course. It is the responsibility of students to check that these recorded marks are in agreement with the marks written on the mid-semester exam.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure The Course Convener may grant extensions for assessment pieces that are not examinations or take-home examinations. If you need an extension, you must request an extension in writing on or before the due date. If you have documented and appropriate medical evidence that demonstrates you were not able to request an extension on or before the due date, you may be able to request it after the due date.

Resubmission of Assignments

There is no resubmission possibility for all the assessment items. Multiple submissions of the assessment items will be ignored and you risk receiving a zero for the assessment items.

Privacy Notice

The ANU has made a number of third party, online, databases available for students to use. Use of each online database is conditional on student end users first agreeing to the database licensor’s terms of service and/or privacy policy. Students should read these carefully. In some cases student end users will be required to register an account with the database licensor and submit personal information, including their: first name; last name; ANU email address; and other information. In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of service — including any (copyright) licence the student grants to the database licensor. Any personal information or content a student submits may be stored by the licensor, potentially offshore, and will be used to process the database service in accordance with the licensors terms of service and/or privacy policy. If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student will not be able to access and use the database. In these circumstances students should contact their lecturer to enquire about alternative arrangements that are available.

Distribution of grades policy

Academic Quality Assurance Committee monitors the performance of students, including attrition, further study and employment rates and grade distribution, and College reports on quality assurance processes for assessment activities, including alignment with national and international disciplinary and interdisciplinary standards, as well as qualification type learning outcomes. Since first semester 1994, ANU uses a grading scale for all courses. This grading scale is used by all academic areas of the University.

Support for students

The University offers students support through several different services. You may contact the services listed below directly or seek advice from your Course Convener, Student Administrators, or your College and Course representatives (if applicable).

• ANU Health, safety & wellbeing for medical services, counselling, mental health and spiritual support
• ANU Diversity and inclusion for students with a disability or ongoing or chronic illness
• ANU Dean of Students for confidential, impartial advice and help to resolve problems between students and the academic or administrative areas of the University
• ANU Academic Skills and Learning Centre supports you make your own decisions about how you learn and manage your workload.
• ANU Counselling Centre promotes, supports and enhances mental health and wellbeing within the University student community.
• ANUSA supports and represents undergraduate and ANU College students
• PARSA supports and represents postgraduate and research students