导论国际金融概览

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TheOverviewofInternationalFinanceCourse2011.9.6www.themegallery.com Howmuchdoyouknowaboutinternationalfinance?TheoriesofinternationalfinanceForeignExchangeTransactionsInternationalFinancialMarketsInternationalcurrenciesWhatisInternationalfinance? TheOverviewStep1Step2Step31.WhatisInternationalfinance?2.Whywestudyinternationalfinance?3.IntroductionofInternationalFinancecourse 1.WhatisInternationalfinance?Internationalfinanceisthebranchofeconomicsthatstudiesthedynamicsofexchangerates,foreigninvestment,globalfinancialsystem,andhowtheseaffectinternationaltrade.Italsostudiesinternationalprojects,internationalinvestmentsandcapitalflows,andtradedeficits.Itincludesthestudyoffutures,optionsandcurrencyswaps.Internationalfinanceisabranchofinternationaleconomics. TheoriesofinternationalfinanceImportanttheoriesininternationalfinanceincludetheMundell-Flemingmodel,theoptimumcurrencyarea(OCA)theory,aswellasthepurchasingpowerparity(PPP)theory.Whereasinternationaltradetheorymakesuseofmostlymicroeconomicmethodsandtheories,internationalfinancetheorymakesuseofpredominantlymacroeconomicmethodsandconcepts. 2.Whywestudyinternationalfinance?Globalizationisrapidlyemerging.Emergenceofworldwidefinancialmarketsandbetteraccesstoexternalfinancingforborrowers.Bytheearlypartofthe21stcenturymorethan$1.5trillioninnationalcurrenciesweretradeddailytosupporttheexpandedlevelsoftradeandinvestment.Realizationofaglobalcommonmarket,basedonthefreedomofexchangeofgoodsandcapital. MultinationalcorporationAmultinationalcorporation(MNC)orenterprise(MNE),isacorporationoranenterprisethatmanagesproductionordeliversservicesinmorethanonecountry.Itcanalsobereferredtoasaninternationalcorporation.Somemultinationalcorporationsareverybig,withbudgetsthatexceedsomenations'GDPs.Multinationalcorporationscanhaveapowerfulinfluenceinlocaleconomies,andeventheworldeconomy,andplayanimportantroleininternationalrelationsandglobalization. MultinationalcorporationMNCsorganizethisoperationindifferentcountriesthroughanyofthefollowingfivealternatives:1.Branches2.Subsidiaries3.jointventurecompany4.Franchiseholders5.turn-keyprojects China'srapideconomicdevelopmentChinasince2010ranksastheworld'ssecondlargesteconomyaftertheUnitedStates.Itisoneoftheworld'sfastest-growingmajoreconomies,withconsistentgrowthratesof5%-15%overthepast30years.Chinaisalsothelargestexporterandsecondlargestimporterofgoodsintheworld.Chinabecametheworld'stopmanufacturerin2011,surpassingtheUnitedStates. 3.IntroductionofourcoursesInternationalFinanceisabasiccourseofFinance,InternationalTradeandInternationalBusiness.Thiscoursereferstothebasicknowledgeandprinciplesofinternationalfinance,includingforeigncurrencyandexchangerate,exchangeratedetermination,balanceofpayments,internationalreserve,currencycrisistheory,thetheoryofoptimumcurrencyareasetc. TheOverviewofInternationalFinanceInternationalfinanceItisabasiccourseofFinance,InternationalTradeandInternationalBusiness.InternationalcapitalmovementsInterestRateParityForeigncurrencyExchangeratelayingthefoundationforlatercourses. TherelationswithInternationaleconomicsInternationaleconomicsisconcernedwiththeeffectsuponeconomicactivityofinternationaldifferencesinproductiveresourcesandconsumerpreferencesandtheinstitutionsthataffectthem.Itseekstoexplainthepatternsandconsequencesoftransactionsandinteractionsbetweentheinhabitantsofdifferentcountries,includingtrade,investmentandmigration. ThemainbranchofinternationaleconomicsInternationaltradeInternationalmonetaryeconomicsInternationalfinanceInternationaltradestudiesgoods-and-servicesflowsacrossinternationalboundariesfromsupply-and-demandfactors,economicintegration,internationalfactormovements,andpolicyvariablessuchastariffratesandtradequotas.Internationalfinancestudiestheflowofcapitalacrossinternationalfinancialmarkets,andtheeffectsofthesemovementsonexchangerates.Internationalmonetaryeconomicsandmacroeconomicsstudiesmoneyandmacroflowsacrosscountries. ResearchfocusRMBinternationalizationChina'sforeignexchangereservespolicyThereformofinternationalfinancialinstitutionsInternationalfinancialregulationBalanceofpayments OurObjectivesandTargetsObjectivesStudentswillhaveacomprehensive,systematicunderstandingofthebasicknowledgeandprinciplesofinternationalfinance,layingthefoundationforlatercourses.TargetsUnderstandthebasicknowledgeofinternationalfinanceMasterthebasicprinciplesofinternationalfinanceBefamiliarwiththeoperationsofinternationalfinance Chapter5:InternationalcurrenciesCurriculumArrangements(1)Chapter1:Theoriesof internationalpaymentsChapter2:BasicknowledgeofforeignexchangeandexchangerateChapter3:PurchasingpowerparitytheoryChapter4:InterestRateParityTheory Chapter10:Short-terminternationalcapitalmovements&HotMoneyCurriculumArrangements(2)Chapter6:InternationalReserveChapter7:Internationalmonetarysystem&ExchangeratesystemChapter8:MonetaryCrisisTheoryChapter9:Theoriesof OptimumCurrencyAreas Chapter15:HowdoestheopenmacroeconomyworkCurriculumArrangements(3)Chapter11:Long-terminternationalcapitalmovements&FDIChapter12:ForeignExchangeTransactionsⅠ：ForwardsandFuturesChapter13:ForeignExchangeTransactionsⅡ：Options&SwapsChapter14:InternationalFinancialMarkets FinalResults:AttendanceFinalExamFinalExam(50%)+Participation(50%,testsandassignments+Attendance+GroupDiscussion)TestsandassignmentsGroupDiscussion References:ImadA.Moosa.InternationalFinance.2ndEdition.TranslatedbyXiaohongLian.RenminUniversityofChinaPress,2008YajieWang.InternationalFinance.TsinghuaUniversityPress,2006Otherrelatedreferences. References:Mailbox:swufefinance2011@126.comPassword:2011swufe Goodluck!2011.9.6www.themegallery.com