BAFI 1019 INTERNATIONAL FINANCE 代写

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  • BAFI 1019 INTERNATIONAL FINANCE 代写

    S CHOOL OF  E CONOMICS , F INANCE AND  M ARKETING
    B AFI 1019 I NTERNATIONAL  F INANCE
    S EMESTER  1,  2017
    S INGAPORE
    Course coordinator Dr. My Nguyen
    Contact details School of Economics, Finance & Marketing
    Level 11, Room 105
    445 Swanston Street,
    Melbourne VIC 3000 Australia
    Tel: 83
    Fax: (+613) 9925 5624
    Email: My.Nguyen@rmit.edu.au
    You are requested to ensure that you are correctly enrolled in thicourse by checking tha it appears on your enrolment confirmation. If the course code does not appear, you will not
    have a result recorded for this course. Please see the School’s student administration officer
    at once if you are not correctly enrolled in this course.
    I NTERNATIONAL  F INANCE 1
    I NTERNATIONAL  F INANCE  2 
    A. COURSE IDENTIFICATION
    Course code and title
    BAFI 1019
    International Finance
    Credit points
    12 points
    Duration
    Intensive
    Mode of delivery
    Offshore
    Pre-requisites
    BAFI 1012 Business Finance
    Before enrolling in this course it is strongly
    recommended that you complete the course:
    BAFI 1005 Financial Markets
    Co-requisites
    Nil
    Career
    Undergraduate
    B. COURSE DESCRIPTION
    As a consequence of many global factors, including floating exchange rates, the aboli of capital controls, the deregulof financial markets and advances in information
    technology, the field of international finance has become increasingly important over
    the past three decades. An increase in international trade and the related flow of finance has
    contributed significantly to the importance of financial management beyond the domestic
    borders. Understanding the financial decision-making framework from an international
    perspective, comprehending the global environment of business finance and being aware of
    the cultural variables of international business, are therefore paramount for today’s financial
    nager as it provies skills that ensure the competent evaluation of alternatives and the
    making of objective decisions.
    This course, therefore, introduces students to the fundamental principles of international
    finance and international financial management.
    1Introduction to International Finance
    2The Foreign Exchange Market
    3Exchange Rate Forecasting, Technical Analysis and Trading Rules
    4The Balance of Payments & Effective Exchange Rate
    5Exchange Rate Determination
    6International Arbitrage
    Topic 7: Foreign Exchange Risk Exposure & Management and Currency Futures
    and Swaps
    Topic 8: Currency Options
    I NTERNATIONAL  F INANCE  3 
    C. OBJECTIVES / LEARNING OUTCOMES
    What can I expect to learn by studying this course?
    You will develop the following capabilities in each topic:
    Topics
    Learning Aims and Objectives
    Topic 1
    Introduction to
    International
    Finance
    Identify the factors that led to the prominence of international
    fince as an academic discipline and a business activity
    Analyse the role of the financial manager in the present global
    environment
    Explain and measure the ternationalisation of finance
    Evaluate the economic, financial and institutional developments
    that have led to the fmation of the present global environment
    The describe the theoretically possible international monetary
    systems and exchange rate arrangements
    The present an outline of the historical development of exchange
    rate arrangements
    To outline the pros and cons of fixed and flexible exchange rate
    regimes
    To define and describe the Eurocurrency market
    The identify Eurocurrencies and Eurocurrency banking centres
    To illustrate the determination of the bid-offer spread in
    Eurocurrency interest rates and the risk premium associated with
    low-quality borrowers
    Topic 2
    The Foreign
    Exchange Market
    the basic features of the foreign exchange market
    Identify market participants and traded curncies
    the mechanics and technology of foreign exchange trading
    Analyse and develop various exchange rate concepts
    Investigate the Australian foreign exchange market
    To describe the mechanics and technology of foreign exchange
    trading
    To illustrate foreign exchange position keeping
    Topic 3
    Exchange Rate
    Forecasting,
    Technical Analysis
    and Trading Rules
    outline the reasons why exchange rate forecasting is needed
    To illustrate various methods and techniques of forecasting
    To explain how to evaluate the performance of exchange rate
    forecasters
    To demonstrate how technical analysis is used to generate buy and
    sell signals
    To explain how filter rules and moving average rules work
    Topic 4
    Balance of
    Payments
    Investigate the structure of the balance of payments (BoP)
    Analyse the Australian BoP statistics
    Evaluate the relationship between the BoP and the foreign
    exchange market
    Identify factors that effect the BoP
    Analyse the concepts of real and effective exchange rates
    Topics
    Learning Aims and Objectives
    Topic 5
    Exchange Rate
    Determination
    Determine some stylised facts about the observed behaviour of
    exchange rates
    Investigate the factors that affect the supply and demand in the
    foreign exchange market
    Analyse the effect of speculation in the foreign exchange market
    Evaluate the various models of the exchange rate determination
    Investigatthe law of one price from which the basic version of the
    PPP can be derived
    Derive PPP from the law of one price
    Evaluate the empirical validity of PPP
    Topic 6
    International
    Arbitrage
    Investigate the reasons for interest in CIP
    Derive the CIP equilibrium condition
    Analyse the CIP equilibrium condition
    Evaluate the empirical validity of CIP
    Investigate the concept of market efficiency
    Analyse the UIP condition
    Evaluate the empirical validity of UIP
    Explain the concept of the real interest rate
    Derive the RIP condition
    Topic 7
    Foreign Exchange
    Risk Exposure and
    Management and
    Currency Futures
    and Swaps
    To define risk and exposure and to distinguish between them
    To measure the exnt of risk arising from changes in Australian
    dollar exchange rates
    To distinguish among transaction, economic and translation
    exposures
    To explain why there is a concern about foreign exchange risk
    To illustrate forward hedging, futures hedging, money market
    hedging and option hedging
    To illustrate other techniques of managing short-term and long-
    term transaction exposure
    To explain how to hedge economic exposure
    To explain the means and consequences of hedging translation
    exposure
    To describe currency futures contract To outline the problematic properties of forward contracts and
    explain how the introduction of futures contracts has solved these
    problems
    compare forward and futures currency markets
    To describe currency and interest rate swaps
    Topic 8
    Currency Options
    introduce the basic concepts pertaining to currency options
    outline the specifications of exchange-traded currency options
    describe frequently used option positions
    identify the determinants of option premiums (prices)
    To describe some exotic currency options
    I NTERNATIONAL  F INANCE 4
    I NTERNATIONAL  F INANCE  5 
    D. LEARNING ACTIVITIES
    What opportunities does the course provide for me to learn? What will I be expected
    to do?
    To achieve the objectives listed above this course requires you to participate in various
    learning activities. These activities comprise the following:
    attendance at and notetaking during scheduled lectures and tutorials
    active participation in lectures and tutorials
    reading of, and notetaking from, prescribed and recommended text books, as well
    as other references
    optional consultation with academic staff
    complete assessment tasks
    Students are expected to conduct their own readings before attending the lectures. The
    materials presented in the lectures may be different from the materials students download
    from the Blackboard in terms of information format, breadth and depth. The materials used
    in the lectures arspecifically designed to explain and demonstrate key concepts and may
    not include all the details.
    E. ASSESSMENT
    How will I demonstrate my learning in this course?
    The assessment tasks you are required to complete are:
    Test  2 A SSIGNMENT  30%
    F INAL  E XAM
    All assessments are COMPULSORY.
    50%
    Students may apply for an extension of time to submit assessable work where they have
    been prevented from doing so by unexpected or extenuating circumstances (beyond
    your control). They may apply for extensions of time of up to 7 days in writing via e-mail
    with the Lecturer / Course Coordinator directly. For extensions to submsion deadlines
    beyond 7 days, students must apply for Special Consideration. There is no guarante that extensions will be granted. Details about Special Consideration and Extension of Time
    for Submission of Assessable Work policy and procedure are available on the RMIT
    website.
    No extension will be granted to group assessment if a minority of the members is unabl to complete the assessment. Groups may apply for an extension of time in accordance
    with the RMIT’s policy and procedure mentioned above.
    Reports on final assessment are available to students who apply in writing to the Head
    of the School of Economics, Finance & Marketing.
    I NTERNATIONAL  F INANCE  6 
    T EST
    This is a written test to be held in Week 6. The venue, date and time will be arranged
    and announced by the SIM assessment administrator.
    Week
    Format
    Coverage
    Contribution
    6
    May contain MCQ, multiple
    response, short answer,
    matching, assertion-reason and
    calculation questions.
    Topic 1 – 4
    20%
    Students must record the answers for the m-term test on a Multiple Choice Answer
    Sheet. There is an instruction PowerPoint Slides available on the Blackboard to refresh
    students’ skills. USE PENCIL ONLY. In the case of messy scribbles, no written name an ID and failure to fill out the correct bubble for student ID, 5 marks will be deducted
    from the mid-term test.
    No formula sheet will be provided during the test.
    A SSIGNMENT
    This is a group assessment. Students are required to determine exchange rate(s) in a
    group of between 3 - 5 members based on Topic 1-6.
    Requirements:
    Students must demonstrate their understanding and application of the course materials
    to analyse and explain the factors that determine the historical movement of AUD/USD
    exchange rate and what will the rate be in 1 December 2017. The specific requirements
    are as follows:
    Task Objective
    1 Purchasing Power Parity.
    2 on Interest Rate Parity.
    3 Discuss using the five factors in the partial supply and demand model.
    4  Develop your own theoretical model by combining any factors that you deem
    as important in determining the above exchange rate.
    5 Discuss any qualitative data that may affect the determination of the above
    exchange rate based on Task 4.
    6 Comments and Conclusions – compare and contrast Task 1-5.
    For Task 1-4, you must demonstrate your understanding about the theories in Topic 1 -
    6 and application of these theories in determining the exchange rate. You may use data
    and calculations in your discussions. You must provide a brief summary at the end of each
    task.
    You may be required to conduct a presentation in Week 11 or 12 by your local lecturer
    to demonstrate the progress of your assignment and provide peer review.
    Each group must self-select their members. 3- 5 members are required to form a group.
    There is no exception to this.
    I NTERNATIONAL  F INANCE  7 
    The maximum count of words is 3000 words for the report (excluding references). 1
    mark will be deducted for every 100 words exceeding the limit.
    A Turnitin originality report and a signed (by all group members) cover sheet
    must be attached to the report and submitted as instructed by your lecturer by the due
    date.
    Proper referencing and citations based on the Harvard style must be used. The list of
    references does not count towards the word limit. You will receive 0 (zero) marks and
    may be subject to disciplinary actions by the University if you plagiarise. Please refer
    to Section H for information on Plagiarism.
    Group allocation will be conducted during Lecture 1 and finalized by Lecture 4.
    Further details will be discussed in the lecture during the semester. Each student must
    complete, sign and submit a Declaration of Group Work Commitment by week 4 of
    the semester in a group to the lecturer. Failure to do so will result in a deduction of 5
    marks from the overall assessment.
    Should there be any issues or disputes arising from group work, i.e. student finds
    him/herself cannot get along with group mates or majority of group members are not
    satisfied with the free-riding behaviour of a particular group member, any changes to
    group membership must be made by Lecture 6. If changes to group membership
    were not made by Week 6 and the issues or disputes persist to the end of the semester,
    groups which face such issues or disputes must notify the lecturer by signing and
    submitting a group contribution statement (available on the Blackboard) in the last
    lecture. The group member that has issues with the majority of his/her group will receive
    only 50% of the marks that are awarded to his/her group as stated in the Declaration
    of Group Work Commitment. There will be no extension granted to the group based
    on the rationale that all students have substantial and adequate time to conduct their
    learning and preparation for the assignment throughout the semester.
    The assignment is due in week 8. Please refer to SIM administrator and local lecturers
    for the exact due date.
    Penalties for late submission
    All assignments will be marked as if submitted on time then the mark awarded will be
    reduced by 10% for each day (or part of a day) it is late. Assignments that are late by
    7 days or more will not be marked and will be awarded zero marks. This applies to all
    members in a group.
    F INAL EXAM  (F ORMULA SHEET WILL BE PROVIDED
    )
    The final exam is a written assessment to be held during the exam period.
    Format Coverage Contribution
    May contain MCQ, multiple response, short
    answer, matching, assertion-reason and
    calculation questions.
    Topic 1 - 8 50%
    I NTERNATIONAL  F INANCE  8 
    Assessment Tasks and Value
    Assessment Criteria
    What will you be looking for when you assess my work?
    The criteria for assessment tasks are:
    ion of adequate reading, research and preparation
    critically evaluate important and relevant issues
    ideas clearly and coherently
    express critical reflections about relevant issues
    support views with appropriate arguments
    A demonstrated ability to reference clearly and accurately
    Course Grades available
    Course Grade
    Numerical
    Result
    High Distinction
    80 - 100
    HD
    Distinction
    70 - 79
    DI
    Credit
    60 - 69
    CR
    Pass (higher grading available)
    50 - 59
    PA
    Fail (some work submitted)
    1 - 49
    NN
    Fail (did not sit – no work submitted)
    DNS
    F. ACADEMIC ADMINISTRATION PROCEDURES
    What do I do if I need help with deadlines or have become ill?
    School Essential Assessment Guide states that “work submitted for assessment after the
    due date will be accepted for assessment only under the following circumstances:
    There has been a formal application for special consideration (granted in
    circumstances such as ill health, trauma or other significant event), which is
    submitted to the program coordinator and approved through the School office
    before the due date.”
    G. COURSE EVALUATION AND FEEDBACK
    How can I let you know about my experience of this course?
    Course Evaluation forms will be distributed to students upon completion of the course
    the end of the semester. Students, however, may provide feedback to staff members
    at anytime during the semester.
    I NTERNATIONAL  F INANCE  9 
    H. ACADEMIC MISCONDUCT
    University Plagiarism Statement
    Plagiarism: the presentation of the work, idea or creation of another person as though
    it is your own. It is a form of cheating and is a very serious academic offence that may lea to expulsion from the University. Plagiarised material can be drawn from, and
    ed in, written, graphic and visual form, including electronic data, and oral
    presentations. Plagiarism occurs when the origin of the material used is not appropriately
    cited.
    Examples of plagiarism include:
    • Copying sentences or paragraphs word-for-word from one or more sources, whether
    published or unpublished, which could include but is not limited to books, journals,
    reports, theses, websites, conference papers, course notes, etc. ;
    Closely paraphrasing sentences, paragraphs, ideas or themes without proper citation;
    Piecing together text from one or more sources and adding only linking sentences;
    • Copying or submitting whole or parts of computer files without acknowledging their
    source;
    designs or works of art and submitting them as your original work;
    Copying a whole or any part of another student's work; and
    • Submitting work as your own that someone else has done for you.
    Enabling Plagiarism: the act of assisting or allowing another person to plagiarise or to
    copy your own work.
    Plagiarism can occur in oral and written presentations and is not acceptable. The
    use of another person’s work or ideas must be acknowledged. Failure to do so
    may result in charges of academic misconduct, which carry a range of penalties
    including cancellation of results and exclusion from the course. Please refer t o
    University Regulation 6.1.1 on Student Discipline.
    I. LEARNING RESOURCES
    What will I need to access and read for this course?
    Distributed Learning System (DLS)
    The DLS is utilised in the teaching of International Finance, for the general
    distribution of relevant material, and in providing some useful external links.
    A number of External Links are found on the Learning Hub.
    Firstly, a link is provided towww.investorwords.com. Here students will find a
    glossary that will assist them to answer the set of questions found in the Learning
    Objectives  and  Lecture  Guides  document  titled  ‘FIND  OUT  @….
    www.investorwords.com framed to revise some of e major concepts addressed in
    lectures, as well as familiarise students with terms that they will encounter in their
    I NTERNATIONAL  F INANCE  10 
    day-to-day exposure to the discipline of finance and the financial markets. The use
    of a website that does not use theoretical language found in textbooks may assist
    students to understand the concepts more readily.
    Secondly, other External Links are categorised into three major sections:
    Daily Newspapers and Business Magazines
    These links provide students with readily available access to current information
    about the Australian and Asian financial markets.
    Financial Markets
    This folder provides links to the websites of both the Australian and Asian Stock
    Exchanges. Students can obtain markestatistics, information about impending
    floats, and other useful information about these markets and the securities traded
    within them.
    International Finance Associations
    This folder provides links to the websites of three of the most prominent internation finance associations – Asia Pacific Finance Association (APFA); European Financial
    Management Association (EFMA) and the American Finance Association (AFA). These
    sites provide links to a vast number of other sites relating to the disciplinof finance,
    including finance journals and international financial markets, such as thNew York
    Stock Exchange. Students are strongly advised to spend some time searching
    through these websites and explore the international world of finance.
    Prescribed Text
    Moosa, I. A. (2010), International Finance: An Analytical Approach. (3 rd ed) Sydney:
    McGraw-Hill.
    The above-prescribed text provides a good coverage and is therefore listed as the
    prescribed for the course. However, you should read widely to enhance your
    understanding of the issues in this course.
    The publishers of this textbook, McGraw-Hill, offer some online services such as
    revision questions, articles, and so on. To gain access to the McGraw-Hill Web
    resources simply follow the steps on the card found inside the front cover of the
    textbook.
    I NTERNATIONAL  F INANCE  11 
    References
    The following references are good complements to thprescribed text. Students ar strongly encouraged to refer to them to gauge better understanding of the
    materials covered in the course.
    Chiang, A C and Wainwright, K (2005), Fundamental Methods of Mathematical
    Economics. Fourth edition. McGraw-Hill: New York.
    Eun, C. and B. Resnick. (2009), International Financial Management. Fifth edition.
    McGraw-Hill: Boston.
    Levi, M D (2009), International Finance. Fifth edition. Routledge.
    Madura, J (2010), International Financial Management. Tenth edition. South-
    Western.
    Pilbeam, K. (2006), International Finance. Third edition. London: MacMillan.
    Shapiro (2014), Multinational Financial Management. Tenth edition. Wiley.
    I NTERNATIONAL  F INANCE  12 
    J. STUDENT LEARNING PROGRAM
    Where do I start?
    Lecture Schedule *
    Week
    Lecture  Topic
    Week 1
    Topic 1: Introduction to International Finance
    Week 2
    Topic 2: The Foreign Exchange Market
    Week 3  Topic 3: Exchange Rate Forecasting, Technical Analysis and Trading
    Rules
    Week 4
    Topic 4: Balance of Payments
    Week 5
    Topic 5: Exchange Rate Determination
    Week 6
    Test
    Topic 6: International Arbitrage
    Week 7
    Week 8

    BAFI 1019 INTERNATIONAL FINANCE 代写
    C OURSE  R EVISION
    ssignment Workshop
    Assignment Due
    Week 9
    Topic 7: Foreign Exchange Risk Exposure and Management Currency
    Futures and Swaps
    Week 10
    Week 11  Topic 8: Currency Options
    Week 12
    C OURSE  R EVISION
    *  Please note that this program is indicative only and that the timing of lectures and/or tests
    may change during the semester under the discretion of SIM.

    BAFI 1019 INTERNATIONAL FINANCE 代写