Surrey University Stag

INTERNATIONAL FINANCE - 2023/4

Module code: MANM200

Module Overview

This module examines international currency markets and currency transactions, exchange rate systems and the implications of exchange rate volatility. It also explores various currency risks that arise from international operations and examines issues that arise when firms seek financing outside their home markets.

Module provider

Surrey Business School

Module Leader

VELEANU Veronica (SBS)

Number of Credits: 15

ECTS Credits: 7.5

Framework: FHEQ Level 7

JACs code: N300

Module cap (Maximum number of students): N/A

Overall student workload

Independent Learning Hours: 80

Lecture Hours: 20

Seminar Hours: 10

Guided Learning: 20

Captured Content: 20

Module Availability

Semester 2

Prerequisites / Co-requisites

None

Module content

Indicative content includes:



  • Multinational Corporations and the Foreign Exchange Markets 


  • Forward Markets and Transaction Exchange Risk


  • Exchange rate parity conditions


  • Exchange Rate Systems


  • Foreign currency derivatives


Assessment pattern

Assessment type Unit of assessment Weighting
Online Scheduled Summative Class Test TEST 50 MIN 30
Examination EXAM (120 MIN) 70

Alternative Assessment

Not applicable

Assessment Strategy

The assessment strategy is designed to provide students with the opportunity to demonstrate:

The assessments are designed to assess the student’s ability to identify, apply and critically discuss the relevant theoretical concepts of international finance.

Thus, the summative assessment for this module consists of:


  • A timed online class test will be held during the mid-term class test week as timetabled.

  • A timed closed-book online final exam will be held during the exam period as timetabled.



Formative assessment


  • Weekly online quizzes (MCQs) are provided to further develop and assess students’ understanding in all topics covered.

  • The tutorials provide an additional opportunity for students to develop their communication skills and gauge their progress.



Feedback


  • Informal advice and discussion during lectures, set activities, tutorials and weekly office hours; timely response to student emails and questions prior to submission of class test and the exam 

  • Suggested solutions to weekly tutorial questions

  • Marks will be available to students within three weeks of the date of the assessment

  • Individual one-to-one feedback on the mid-term class test

  • Students will receive examination marks after marking and moderation


Module aims

  • Currency derivatives used to manage firm's exposure to foreign exchange risk
  • International currency markets, exchange rate behaviour and their impact on firms.
  • Most important theoretical concepts and current issues in international finance

Learning outcomes

Attributes Developed
001 Appraise the benefits and risks of operating in foreign markets with different exchange rate and governance systems KCPT
002 Assess and quantify exchange rate volatility and its potential impact on firms¿ exposure and decisions KCPT
003 Apply equilibrium parity theories to exchange rate determination KCPT
004 Measure and compare different sources of finance for a multinational KCPT
005 Evaluate various financial derivative instruments and choose appropriate methods to hedge currency risk KCPT

Attributes Developed

C - Cognitive/analytical

K - Subject knowledge

T - Transferable skills

P - Professional/Practical skills

Methods of Teaching / Learning

The learning and teaching strategy is designed to:


  • Develop students’ knowledge of international currency markets with a view to identify and critically assess exchange rate risks and ways to manage it

  • Engage students from diverse learning and educational backgrounds to enhance the learning environment by drawing on personal and shared experiences and knowledge

  • Develop students’ cultural awareness, digital literacy, confidence and competence in working with others, leadership, communication skills, employability, and professionalism



The teaching and learning methods include lectures, seminars, independent learning, and self-reflection. Specifically, the lectures intend to introduce theories with support materials and reinforcement covering the topics in the above. During seminars, students will undertake interactive exercises, such as numerical and discussion-based exercises in order to demonstrate the application of theory, team-working, professionalism, confidence, and communication skills. It is expected that students will conduct wide readings, work with peers, individual research, and reflective review in their independent learning. Formative feedback will be provided to students during these interactive sessions.

Indicated Lecture Hours (which may also include seminars, tutorials, workshops and other contact time) are approximate and may include in-class tests where one or more of these are an assessment on the module. In-class tests are scheduled/organised separately to taught content and will be published on to student personal timetables, where they apply to taken modules, as soon as they are finalised by central administration. This will usually be after the initial publication of the teaching timetable for the relevant semester.

Reading list

https://readinglists.surrey.ac.uk
Upon accessing the reading list, please search for the module using the module code: MANM200

Other information

Global and Cultural Capabilities: diverse backgrounds, perspectives, and interpretations; applying theory to global, current and real-world issues and case studies in international finance

Digital Capabilities: SurreyLearn, Zoom, Teams, Excel, Bloomberg, DataStream and other international databases

Employability: authentic assessments developing analytical, problem-solving, communication, interpersonal and professional skills; Bloomberg as an application tool for theoretical concepts (international finance arbitrage practices)

Resourcefulness & Resilience: formative and summative assessments, feed-forwards and reflection, in-class discussions of current international finance issues

Sustainability: ethics and corporate governance, accountability and responsible (green) finance

Programmes this module appears in

Programme Semester Classification Qualifying conditions
Accounting and Finance MSc 2 Optional A weighted aggregate mark of 50% is required to pass the module
Economics MA 2 Optional A weighted aggregate mark of 50% is required to pass the module
Economics and Finance MSc 2 Optional A weighted aggregate mark of 50% is required to pass the module
International Corporate Finance MSc 2 Optional A weighted aggregate mark of 50% is required to pass the module
Investment Management MSc 2 Optional A weighted aggregate mark of 50% is required to pass the module
International Financial Management MSc 2 Compulsory A weighted aggregate mark of 50% is required to pass the module
FinTech and Policy MSc 2 Optional A weighted aggregate mark of 50% is required to pass the module

Please note that the information detailed within this record is accurate at the time of publishing and may be subject to change. This record contains information for the most up to date version of the programme / module for the 2023/4 academic year.