DESCRIPTION

The subject International Finance aims to give the student insights into the currency market. It also sets out to help the student learn about the entities, brokers and other means for the management of operations in the international market. Specifically, the following are analysed:

First, provide information on financial business management in purchase-and-sale operations in the international market.

Second, explain the mechanisms of collection and payment used in international operations, refer to their characteristics, understand their use, study the stakeholders involved in these processes…

Third, go into detail on the currency markets and the business management of exchange rate risk coverage, mainly through exchange rate insurance and currency options.

SPECIFIC COMPETENCES

- Skills in the understanding, interpretation and analysis of the data provided by international sources of financial information.

- Mastery of the specific characteristics and operation of the currency market.

- Knowledge of the basic factors that determine exchange rates and their influence on business management.

- Knowledge of the concept of exchange rate risk, its repercussions on business and the methods available for its measurement and coverage.

- Ability to observe, detect and analyse the exchange rate risk of a company or specific organisation, and decide on the management alternatives for that risk, with or without coverage.



OUTCOMES

- Identification of international sources of finance.

- Analysis and solving of problems related to currency markets and exchange rate risk.

- Evaluation and analysis of the reasons that explain exchange rate risk.

- Evaluation of the different methods of management and coverage of exchange rate risk.

- Consultancy reports on the financial situation of a company, drawn up with the appropriate terminology.

STRUCTURE:

THEME 1: FINANCIAL BUSINESS MANAGEMENT: INTERNATIONAL PURCHASE-AND-SALE AGREEMENTS

THEME 2: COLLECTION AND PAYMENT MECHANISMS IN FOREIGN TRADE.

THEME 3: EXCHANGE RATE RISK: CURRENCY MARKET AND COVERAGE.

METHODOLOGY

The most used methods will be the lecture and oral presentation, which will be supported by presentations made with a computer, using the projection gun. In addition, students will have support material (compulsory reading, transparencies, etc.) that will be at their disposal in the centre's copy shop and on the virtual teaching platform. The master classes will be linked and complemented with the bibliography provided to the student.



Weeks 3 and 4 will be dedicated to developing collaborative group work in the computer room, which will be exposed in the classroom in week 5.



Problems and / or practical exercises will be carried out in order to facilitate the understanding and use of the management techniques and tools of the corresponding subject of the program. In this sense, the teacher will solve, together with the students, at least one problem that involves the use of each type of tool, as the theoretical foundations of each topic are seen. offering the corresponding feedback to the students in the process of improving their training.

Subsequently, the students must carry out the exercises autonomously, which will be evaluated, graded and the corresponding feedback will be offered in order to continuously improve the continuous training evaluation system.

• Continuous Assessment System
• Final Assessment System
• Tools and qualification percentages:
  • Written test to be taken (%): 60
  • Realization of Practical Work (exercises, cases or problems) (%): 15
  • Team projects (problem solving, project design)) (%): 25

CONTINUOUS ASSESSMENT:

1) Final exam. Assessment will be done through a final exam (50% of the final grade), consisting of a series of questions of a theoretical and practical nature to be answered by the student. This exam will consist of three parts: 1) a test type exam to assess theoretical aspects, in which incorrect answers will be penalised (30% of the final exam note). This test will be done in the 13. week, with option to repeat the test in the exam official date in January; 2) a series of theoretical-practical questions (50% of the final exam note) and 3) an exercise to develop and present conclusions (20% of the final exam note). For this third part to be assessed, the student must pass (4 points out of 10) in the first and second part.



2) Practical classwork and group work (50% of the final grade). Up to 2.5 points will be added to the final grade for the preparation and defence of an additional compulsory group project, and a further 2.5 additional points for carrying out activities of compulsory nature in the classroom (presentations, commentaries on articles, participation in debate fora, exercises, etc.) that take place throughout the course. Practial classwork and group work will be provided if the exam note is higher than 4 out of 10.

In the event that for health reasons, the tasks that may be affected will be adapted to non-face-to-face teaching, the qualification percentages will be maintained.

The points obtained through any of the work/projects proposed (max. 5 points/50% of the final grade) will be considered definitively earned, i.e. they will be valid for the two calls of the following academic year provided a mark of 40% has been achieved in the final exam.

In accordance with article 8.3. of the Regulatory Regulations for the Evaluation of Undergraduate Students (BOPV No. 50, March 13, 2017), any student can request to waive the continuous evaluation system and opt for the final evaluation. In that case, they will be entitled to a final test over 10 points, which will consist of the same exam as those who opt for continuous evaluation, to which additional tests will be added that allow evaluating and qualifying individual performance in competencies that have been worked on through the practices.



In the case of continuous evaluation, it will be enough to not appear for said final test so that the final grade for the subject is not presented or not presented.



In the event of a final evaluation, if they do not appear for the final written test, it will be considered that they have renounced the call and their grade will be “not presented”.



PROCEDURE FOR WAIVING THE CONTINUOUS EVALUATION IN ORDER TO BE EVALUATED BY THE FINAL EVALUATION SYSTEM



After communicating it orally to the teacher, whoever wishes to be evaluated by the final evaluation system must submit in writing through the email of e gela his resignation to the continuous evaluation and request to be evaluated by the final evaluation system, with a deadline of November 20 inclusive.



NOTE: In any case, to pass the course it will be necessary to obtain 5 points on the final grade for the course. To renounce the ordinary call, it will be enough to not appear for the final test.



The points obtained through work are valid for the two calls of the year, unless the student has stated otherwise. In the latter case, the final test will be valued on a maximum of 10 points (see previous section).

EXTRAORDINARY CALL

The extraordinary call will consist of taking a written exam as described above.



The points obtained through work are valid for the two calls of the year.



To renounce the extraordinary call, it will be enough to not appear for it.



As in the ordinary call, in the event that a health alert situation occurs again that prevents the face-to-face evaluation, the written exam will be carried out, on the same day and at the same time previously established, but online, through by eGela.

Notes and complementary material available to students in reprography (if is allowed to open) and / or in eGela.

Basic bibliography

Jiménez, G. (2012). ICC Guide to Export-import: Global Standards for International Trade. International Chamber of Commerce. Available at http://store.iccwbo.org/content/uploaded/pdf/ICC-Guide-To-Export-Import.pdf

In-depth bibliography

Grath, A. (2011). The handbook of international trade and finance: the complete guide to risk management, international payments and currency management, bonds and guarantees, credit insurance and trade finance. Kogan Page Publishers. Available at https://s3.amazonaws.com/academia.edu.documents/46563818/Anders_Grath_-_The_Handbook_of_International_Trade_copy.pdf?AWSAccessKeyId=AKIAIWOWYYGZ2Y53UL3A&Expires=1532693603&Signature=5LEZy24ea6Df828Vk%2FZDNHNrC0k%3D&response-content-disposition=inline%3B%20filename%3DLondon_and_Philadelphia_International_Tr.pdf

Malfliet, J. (2011). Incoterms 2010 and the mode of transport: how to choose the right term. In Management Challenges in the 21st Century: Transport and Logistics: Opportunity for Slovakia in the Era of Knowledge Economy (pp. 163-179). City University of Seattle Bratislava. Available at https://biblio.ugent.be/publication/1212622/file/1212631

ACCA (2018). Foreign currency and its management. Retrieved 2018 July 27, from https://www.accaglobal.com/gb/en/student/exam-support-resources/fundamentals-exams-study-resources/f9/technical-articles/forex.html

Journals

Revista El Exportador
Revista de Información Comercial Española
Publicaciones del ICEX
Análisis Financiero Internacional
Cuadernos de Gestión
Moneda y Crédito
Perspectivas del Sistema Financiero
Finanzas y Desarrollo
Estrategia Financiera
Informe sobre la estabilidad financiera mundial
Perspectivas de la Economía Mundial

Web addresses

www.bde.es Banco de España
www.boe.es Boletín Oficial del Estado
www.cscamaras.es Consejo Superior de Cámaras de Comercio
www.icex.es Instituto Español de Comercio Exterior
www.feteia.org Federación Española de Asociaciones de Transitarios
www.ecb.int Banco Central Europeo
http://www.forextrading.com
www.goforex.net
http://www.finanzas.com/divisas
http://es.exchange-rates.org
www.planetaforex.com
http://www.divisasforex.com
http://www.fxstreet.com
http://www.ozforex.com.au
http://www.forexpros.es
http://www.xtb.es
http://www.euroforex.es/