国际金融教案Word下载.docx
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国际金融教案Word下载.docx
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教案格式及要求
1、教案以一学期一门课程填写,使用电子课件的课程也需要填写本教案册。
2、每章节教案内容应包括:
1)教学目的要求;
2)本章节的重点、难点及处理方案;
3)本章节的教学内容纲要及主要知识点;
4)教学手段、方法设计(可选)
5)思考题、作业题;
6)参考书目或资料简介。
3、教案可手工填写,也可用电子文档填写。
使用电子文档的教师,需打印并在课程讲授结束后装订成册。
4、若一册教案不够填写,可续。
5、本系所开各门课程的教案必须统一格式。
注:
表中()选项请打“√”
授课题目名称(教学章、节或主题):
CourseOverviewandLecture1:
Introduction
授课方式
(请打√)
理论课√讨论课□实验课□习题课□其他□
周次
第
(1)周
课时安排
(4)学时
教学目的及要求(分掌握、熟悉、了解三个层次):
ThiscourseisaboutfinancialmanagementofMultinationalEnterprises(MNEs).Itwillaimtoprovideyouwithinsightsintotheissuesafinancialmanagerneedstobeawareofinordertoremaincompetitiveinaglobalenvironment.
Inthefirstpartofthecoursewewillstudythemacroeconomicaspectsof
financialmanagementandinthesecondpartwewillfocusonmicro(firmlevel)
decisions.
教学重点、难点、关键知识点及采用的措施:
Becauseinternationalbusinessoperationsisverydifferentunderafixedsystemofexchangerateswithstringentcapitalcontrolsandmarketsegmentationthanunderasystemofflexibleexchangerateswithfreecapitalmovementandmarketintegrationwewillstudythefollowing:
1.Internationalmonetarysystem
2.Someeconomictheoriesofexchangerateandinterestratedetermination
3.Internationalfinancialmarkets
4.ForeignExchange(FX)risksandexposures
5.InternationalFinanceandInvestments
CommonTheme:
GlobalisationProcesswherebystructuralandmanagerialchangesareexperiencedbyafirmasitmovesfromdomestictoglobaloperations.
KeyIssue:
Giventhemacroeconomic&
microenvironmentofthepresenttime,howdofirmsoperatewithrespecttotheirfinancialoperations.
教学方法及手段设计:
网络教学□多媒体辅助教学□板书□教具□其它□(请打√)
教学基本内容(纲要及主要知识点)
备注
教学内容:
MainCostsandBenefitsofGlobalisation:
Benefits:
1.Largermarketforfirm’sproducts
2.FinancingandInvestmentopportunitiesfromabroad
Costs:
1.ForeignCompetition
2.FXRisk:
uncertaintyaboutfutureFXratesthataffectssales,pricesandprofits)
3.CountryRisk:
economic,politicalandsocialfactorsthatmayhaveadverseeffectsonsales,pricesandprofits.
此页可加续页
Objectives:
ToidentifyrecentdevelopmentsintheinternationalfinancialenvironmentthathavefacilitatedGlobalisationandtoemphasizetheirimpactonfirm’sfinancial.
operations:
1.arbitrage
2.financing
3.investment
4.hedging
5.speculation
Internationalfinancialenvironmenthasundergonesubstantialchangessince
WW2:
WW2–1970’s:
businessfirmshadlittleincentivesandabilitytoengageininternationalfinancingandinvestment:
1.Fixedexchangerates
2.Stringentcapitalcontrols
3.Segmentationofcapitalmarkets
August1971:
collapseoftheBrettonWoodsSystemoffixedexchangerates(USannouncedthatitwouldnolongerconvertUSDintoGold).
Sincethen:
1.majorcurrencieshavebeenfloated
2.largerinterestratesandexchangeratevolatility
3.abolitionofcapitalcontrols->
stillcontinues
4.financialderegulation->
Thesechangesareimportantastheyrepresentnewopportunitiesaswellasrisks,e.g.:
1.setupoperationsoverseas:
newlargermarkets,increasescustomerbase
2.obtainforeignfinancingandinvestinforeigncompanies:
cheaperfundsandportfoliodiversification
3.foreignlegalenvironment:
costsassociatedwithtraininglegalstuff+obtaininglocalrepresentation
4.evenifafirmwerenotinvolvedininternationaltrade:
1)increasedcompetitionfromforeigncompetitorsandimports
2)synchronisationofmonetarypoliciesacrosscountries,e.g.USandAUinterestrates
3)financialcontagion:
financialcrisesaffectinvestorconfidenceandspreadacrossregions,affectingbothfirmandindividualwealth,whichaffectsconsumption,whichaffectsinvestmentwhichaffectsdomesticeconomy.
Globalisationoffinanceisdrivenby:
1.advancesininformationtechnology
2.synchronisationofnationaleconomicpolicies
3.relaxationofcapitalcontrols
4.financialderegulation
5.competition
6.Internationaltrade(e.g.China,India)
IndicatorsofGlobalization:
1.volumeofinternationalbanklending
1)cross-borderlending
2)domesticlendinginforeigncurrency
2.valueoffinancialsecuritiestransactionswithforeigners.
3.flowsofportfolioinvestmentandforeigndirectinvestment
4.valueofdailyturnoverintheglobalFXmarket
5.extentofinterdependencebetweeninternationalfinancialmarkets
1)e.g.equities,bonds,etc.
EurodollarMarket
CurrencyConvertibility
EuropeanUnion
ChangesinRelativeEconomicSize
DeteriorationoftheUSexternalposition
OilPrices
InternationalDebtProblem
Internationaluseofnon-dollarcurrencies
IncreasedCapitalMobility
MarketIntegration,FinancialDeregulationandGlobalisation
RegionalCooperation
In
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