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 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 interpret current information, and turn it into knowledge; and,

·        Present, discuss and defend a point of view.

Additional Course Costs

The only additional course costs are a non-programmable scientific calculator (not a financial calculator!), and potential printing materials if you choose to.

Examination Material or equipment

Open-book Wattle-based quiz and exam.

Required Resources

Requirements for online quiz/exam:

Open book Wattle-based quiz and final exam. You will need reliable access to Wattle, the internet, and a calculator for the duration of the quiz and final exam.

Main Texts and Reference Materials:

Students are expected to have access to a copy of the prescribed main text for the semester. The book can be purchased from the on-campus bookshop and online via the publisher, with a small number of copies of both the Eiteman et al. and Eun et al. books also available for a 2-hour loan in the reserve loan section of the Chifley Library. Both the main text and reference text are also available in e-copy via the ANU Library with links provided below for each book. 

Eiteman, D., Stonehill, A., and Moffett, M. Multinational Business Finance, Global Edition. 14th edition. Pearson, 2016 (Main text)

https://library.anu.edu.au/record=b5640024

Eun, C., and Resnick, B. International Financial Management. 8th edition. US: McGraw Hill, 2017. (Reference text)

https://library.anu.edu.au/record=b6742947

 

Most of the course comprises material from Eiteman et al. (2016) and Eun and Resnick (2017); 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 (journal articles, specialised reports, etc) that are not available in the text. Additional readings may be assigned and details will be provided on the course website.

 

Note: Due to copyright restrictions, Study Guides and/or Solutions to the questions in the textbooks cannot be provided via email or on Wattle.

Recommended Resources

Students are recommended to regularly read the financial news and be aware of current news headlines. Online resources such as Reuters, the Wall Street Journal, Bloomberg are good resources.

Staff Feedback

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

·       in tutorials through interactions with tutors and discussions with other students;

·       through assessments where tutors will provide specific feedback;

·       through consulting teaching staff during their consultation time.

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). Feedback can also be provided to Course Conveners and teachers via the Student Experience of Learning & Teaching (SELT) feedback program. SELT surveys are confidential and also provide the Colleges and ANU Executive with opportunities to recognise excellent teaching, and opportunities for improvement.

Other Information

Scaling

Your final mark for the course will be based on the raw marks allocated for each of your assessment items. However, your final mark may not be the same number as produced by that formula, as marks may be scaled. Any scaling applied will preserve the rank order of raw marks (i.e. if your raw mark exceeds that of another student, then your scaled mark will exceed the scaled mark of that student), and may be either up or down.

Extensions and Penalties

No submission of assessment tasks 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

Support for Students

The University offers a number of support services for students. Information on these is available online from http://students.anu.edu.au/studentlife/

Communication

It is preferable to contact the lecturer via email (ding.ding@anu.edu.au)

Email

If necessary, the lecturer for this course will contact students on their official ANU student email address. Information about your enrolment and fees from the Registrar and Student Services' office will also be sent to this email address.

Announcements

Students are expected to check the Wattle site for announcements about this course, e.g. changes to timetables or notifications of cancellations. Notifications of emergency cancellations of lectures or tutorials will be posted on the door of the relevant room.

Academic Integrity Control

As a further academic integrity control, students may be selected for a 15 minute individual oral examination of their written assessment submissions.

Any student identified, either during the current semester or in retrospect, as having used ghost writing services will be investigated under the University’s Academic Misconduct Rule.

Class Schedule

Week/Session	Summary of Activities	Assessment
1	Please be advised that the summary and topics serve as a guideline only, please refer to Wattle for the actual delivery. In addition, there may be supplementary readings assigned each week (commencing Week 1). Please check Wattle for updates. Introduction to International Finance Overview of Foreign Exchange Markets Readings: Topic 1 Notes Eiteman et al. Ch 1 & 5	Assessment 2 details released; Enrol into teams for Assessment 2
2	International Monetary System and Balance of Payments Readings: Topic 2 Notes Eiteman et al. Ch 2 & 3
3	Foreign Exchange Rate Determination Readings: Topic 3 Notes Eiteman et al. Ch 9	Assessment 2 (Team Formation) due by Friday
4	International Parity Conditions Readings: Topic 4 Notes Eiteman et al. Ch 6
5	FX Arbitrage, Speculation and Forecasting Readings: Topic 5 Notes Eiteman et al. Ch 5, 7 & 9	Assessment 1 due by Friday
6	Mid-Semester Review
7	Foreign Exchange Risk and Risk Management Readings: Topic 6 Notes Eiteman et al. Ch 10, 11 & 12
8	Financing on the International Capital Markets Readings: Topic 7 Notes Eiteman et al. Ch 13
9	International Banking and Money Market Readings: Topic 8 Notes Eun & Resnick Ch 11
10	International Bond and Equity Markets Readings: Topic 9 Notes Eun & Resnick Ch 12, 13	Assessment 2 due by Friday
11	International Investment Readings: Topic 10 Notes Eiteman et al. Ch 13, 17 & 18
12	Semester Review

Tutorial Registration

Tutorials will start from Week 2 through to Week 12. Tutorials will be available on campus, live through scheduled Zoom sessions and as pre-recorded videos. Students should enrol in their tutorial using MyTimetable.

Assessment Summary

Assessment task	Value	Due Date	Return of assessment	Learning Outcomes
Quiz (Wattle-based)	5 %	20/03/2023	24/03/2023	1,2,3
Assignment (Submission via Wattle Turnitin)	35 %	12/05/2023	26/05/2023	1,2,3
Final Exam (Wattle-based)	60 %	01/06/2023	29/06/2023	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 Integrity Rule before the commencement of their course. Other key policies and guidelines include:

• Academic Integrity Policy and Procedure
• Student Assessment (Coursework) Policy and Procedure
• Special Assessment Consideration Guideline and General Information 
• Student Surveys and Evaluations
• Deferred Examinations
• Student Complaint Resolution Policy and Procedure
• Code of practice for teaching and learning

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 Academic Skills website. In rare cases where online submission using Turnitin software is not technically possible; or where not using Turnitin software has been justified by the Course Convener and approved by the Associate Dean (Education) on the basis of the teaching model being employed; students shall submit assessment online via ‘Wattle’ outside of Turnitin, or failing that in hard copy, or through a combination of submission methods as approved by the Associate Dean (Education). The submission method is detailed below.

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

Course content delivery will take the form of weekly on-campus lectures (recorded and available via echo360 on Wattle), and weekly tutorials, delivered in hybrid format (on campus, live through scheduled Zoom sessions and as pre-recorded videos). Weekly consultations with the lecturer and the tutor(s) will be conducted over Zoom.

Examination(s)

Centrally scheduled examinations through Examinations, Graduations & Prizes will be timetabled prior to the examination period. Please check ANU Timetabling for further information.

Assessment Task 1

Quiz (Wattle-based)

·       Individual online (Wattle) quiz composed of multiple-choice questions to be completed before the end of Week 5

·       The quiz will be made available Monday at 9:00 am in Week 5, available through to Friday at 23:59 pm, Week 5

·       Two attempts are allowed and each attempt is limited to 30 minutes. You will receive an immediate grade and the correct answers upon submission of each attempt. The mark for the better attempt will be recorded. Two attempts are allowed in case you feel you may not have done so well in the first attempt and wish to pinpoint the particular area for review before a second attempt. If you are happy with your first attempt, it is not necessary to take a second attempt

·        The quiz will count 5% towards the course grade and allows students to gain feedback as to their progress

·        The questions will be a mixture of theory and practical questions presented as multiple-choice questions

·        No late submission of assessment tasks 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

Assessment Task 2

Assignment (Submission via Wattle Turnitin)

·       Students are expected to complete this assignment in a team of five or six students

·       The assignment is worth 35% of the course grade

·       The assignment must be typed in full and submitted via Turnitin, due at 23:59 pm the Friday of Week 10. Emailed/scanned handwritten submissions receive an automatic 0 for the assignment

·       The assignment is intended to provide a thorough understanding of the material learned in class through applied analysis

·        Complete details of the assignment will be made available on Wattle from Week 1

·        Team formation is open on Wattle from Week 1 and must be completed by Week 3

·        No late submission of assessment tasks 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

Assessment Task 3

Final Exam (Wattle-based)

·       This is a centrally administered examination. It is entirely Wattle-based and will be 3 hours

·       All answers must be typed within the Wattle quiz interface and must be completed individually

·       The final exam will be cumulative and comprehensive, based on all the work covered throughout the semester

·       It will include a mixture of theoretical and numerical questions

·       The final exam is worth 60% of the overall course grade

·      The final exam will be centrally scheduled by ANU Timetabling and will be held during the exam period with details to be advised no later than Week 10

Academic Integrity

Academic integrity is a core part of the ANU culture as a community of scholars. The University’s students are an integral part of that community. The academic integrity principle commits all students to engage in academic work in ways that are consistent with, and actively support, academic integrity, and to uphold this commitment by behaving honestly, responsibly and ethically, and with respect and fairness, in scholarly practice.

The University expects all staff and students to be familiar with the academic integrity principle, the Academic Integrity Rule 2021, the Policy: Student Academic Integrity and Procedure: Student Academic Integrity, and to uphold high standards of academic integrity to ensure the quality and value of our qualifications.

The Academic Integrity Rule 2021 is a legal document that the University uses to promote academic integrity, and manage breaches of the academic integrity principle. The Policy and Procedure support the Rule by outlining overarching principles, responsibilities and processes. The Academic Integrity Rule 2021 commences on 1 December 2021 and applies to courses commencing on or after that date, as well as to research conduct occurring on or after that date. Prior to this, the Academic Misconduct Rule 2015 applies.

 

The University commits to assisting all students to understand how to engage in academic work in ways that are consistent with, and actively support academic integrity. All coursework students must complete the online Academic Integrity Module (Epigeum), and Higher Degree Research (HDR) students are required to complete research integrity training. The Academic Integrity website provides information about services available to assist students with their assignments, examinations and other learning activities, as well as understanding and upholding academic integrity.

Online Submission

You will be required to electronically sign a declaration as part of the submission of your assignment. Please keep a copy of the assignment for your records. Unless an exemption has been approved by the Associate Dean (Education) submission must be through Turnitin.

Hardcopy Submission

All assessment submission in the course is online via Wattle.

Late Submission

No submission of assessment tasks 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.

Referencing Requirements

The Academic Skills website has information to assist you with your writing and assessments. The website includes information about Academic Integrity including referencing requirements for different disciplines. There is also information on Plagiarism and different ways to use source material.

Returning Assignments

Assignment will be returned via Wattle.

Extensions and Penalties

Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework) Policy and Procedure. Extensions may be granted 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

Students will not be permitted to re-submit assignments after the due date.

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 Access 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