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Level 6: International Markets and Institutions
Introduction
Explores the role of international finance, institutions and policies, together with an examination of international money/credit markets. You will be given the opportunity to analyse a range of topical issues that deal with subjects such as balance of payments, exchange rates, international reserves, capital flows and liquidity. You explore the functioning of the international bond market, as well as developing an understanding of international financial institutions such as the International Monetary Fund and the Bank for International Settlements.
Module Description
The aim of this module is to provide students with an understanding of international finance, institutions and policies together with an understanding of international money/credit markets. It also aims to provide an insight into international banking operations, the impact of securitisation and the international bond market. The module deals with topical (in the news) issues rather than being a theoretical/mathematical course which should be of more value to the students as regards their understanding of global markets/issues.
Module Content
This module examines key issues in the arena of international economics and how these impinge upon the international credit and capital markets. It will also explore the key role played by large international banks in these markets. Key issues such as central bank policies on exchange rate/liquidity management will be reviewed together with the Eurocurrency markets, securitisation and international syndicated credit/bond markets.
- Balance of payments: currency flow; real/monetary transfers; autonomous capital flows
- Exchange rates: fixed ‘v’ floating exchange rates; currency management policies
- Liquidity: international reserve management; US dollar and Euro status/relationship
- Capital flows: economic impact; exchange control debate; financial globalization
- International financial institutions; International Monetary Fund; Bank for International Settlements
- International money market: Eurocurrency market; Eurobanks; financial centres/risk
- International credit market: syndicated loans – funding, procedures, legal aspects
- International bond market: securitisation; international/foreign bond issues and markets
