N_IFS_1 International Financial Services 1

University of Finance and Administration
Winter 2011
Extent and Intensity
0/2. 3 credit(s). Type of Completion: z (credit).
Teacher(s)
doc. Ing. Karel Brůna, Ph.D. (seminar tutor)
Guaranteed by
doc. Ing. Karel Brůna, Ph.D.
Department of Finance – Departments – University of Finance and Administration
Contact Person: Lenka Pokorná
Timetable of Seminar Groups
N_IFS_1/cFPH: Tue 14:00–14:44 S34, Tue 14:45–15:30 S34, K. Brůna
N_IFS_1/vFPH: Fri 11. 11. 15:30–17:00 S24, 17:15–18:45 S24, Fri 25. 11. 12:00–13:30 S24, K. Brůna
N_IFS_1/vPPH: Fri 7. 10. 12:00–13:30 S13, 13:45–15:15 S13, Fri 21. 10. 15:30–17:00 S13, K. Brůna
Course Enrolment Limitations
The course is offered to students of any study field.
Course objectives
Main target of the course is to help the students to understand functions of current global FX and money markets, to explain mechanism of exchange rate and interest rate determination and to introduce way of spot and term instruments pricing and using. Except this the purpose of the course is also to strengthen a knowledge of English language in both a vocabulary and an ability of its practical use in explanation of specific problem.
Syllabus
  • 1. Foreign exchange markets (OTC market, trading channels, main segments, spot and derivatives)
  • 2. Exchange rate quotation, speculation, arbitrage, hedging, cross rates (main types of quotation, motivation)
  • 3. Money market spot instruments and interest rate quotation (interbank market loans, treasury securities)
  • 4. Outright forwards and money market hedge (definition, forward rate, synthetic forward)
  • 5. Forward rates agreements (definition, FRA rate, yield curve slope, interest rate risk)
  • 6. Foreign exchange swaps (definition, swap points, liquidity management, short dates)
  • 7. Yield curve and theory of interest rates structure (expectation theory, time premium, forward rate)
  • 8. Central bank and monetary policy instruments (main policy rate, open market operations, standing facilities)
  • 9. Fundamental analysis of exchange rate (purchasing power parity, uncovered interest rate parity, BOP)
  • 10. International monetary system and currency regimes (fixed vs. floating regimes, euro adoption)
  • 11. Euromoney markets (main segments, main instruments, LIBOR)
  • 12. Summing up the semester
Literature
    required literature
  • Eiteman, D. K., Stonehill, A. I., Moffett, M. H.: Multinational Business Finance, Prentice Hall, 2010.
    recommended literature
  • Witzany, J.: International Financial Markets. Praha: Oeconomica, 2010.
  • Fialová, H., Fiala, J.: The Concise Dictionary of Economic Terms. Praha: A plus, 2008.
Teaching methods
lectures, seminars
Assessment methods
final test in written form, attendance
Language of instruction
English
Follow-Up Courses
Further comments (probably available only in Czech)
The course can also be completed outside the examination period.
Information on the extent and intensity of the course: 6hodin KS/ semestr.
The course is also listed under the following terms summer 2012, Winter 2012, Winter 2013, Winter 2014, Winter 2015, Winter 2016, Winter 2017, Winter 2018, Winter 2019, Winter 2020, Winter 2021, Winter 2022, Winter 2023, Winter 2024.
  • Enrolment Statistics (Winter 2011, recent)
  • Permalink: https://is.vsfs.cz/course/vsfs/winter2011/N_IFS_1