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FINS3616 Internat t tional Business Finan nce
Cour Ou rse utline Semes S ster 2, 2012 2 2
5 Student Learning Outcomes 3 LEARNING AND TEACHING ACTIVITIES 3.2 Assessment Details 5 6 7 1 2 COURSE RESOURCES COURSE EVALUATION AND DEVELOPMENT COURSE SCHEDULE ACADEMIC HONESTY AND PLAGIARISM STUDENT RESPONSIBILITIES AND CONDUCT PART B: KEY POLICIES.2 Learning Activities and Teaching Strategies 4 ASSESSMENT 4.4 Occupational Health and Safety 2.2 Attendance 2. STUDENT RESPONSIBILITIES AND SUPPORT 2.2 Units of Credit 2.Table of Contents PART A: COURSE-SPECIFIC INFORMATION 1 2 STAFF CONTACT DETAILS COURSE DETAILS 2 2 2 2 2 2 2 3 3 3 3 4 4 4 5 5 6 1 1 1 1 1 2 2 2 2 4 2.1 Approach to Learning and Teaching in the Course 3.3 General Conduct and Behaviour 2.1 Workload 2.5 Keeping Informed 3 4 SPECIAL CONSIDERATION AND SUPPLEMENTARY EXAMINATIONS STUDENT RESOURCES AND SUPPORT [Course Code – Course Name] 1 .3 Summary of Course 2.1 Formal Requirements 4.4 Course Aims and Relationship to Other Courses 2.1 Teaching Times and Locations 2.
2.PART A: COURSE-SPECIFIC INFORMATION 1 STAFF CONTACT DETAILS Bohui Zhang (Teach from week 1 to 6) ASB 314 9385 5834 bohui. foreign direct investment decisions. The general emphasis is on the identification and management of risk relating to exchange rate fluctuations and government policy changes.au Tuesday 15:00 to 17:00 Jaehoon Lee (Teach from week 7 to 12) ASB 365 9385 6013 jaehoon.edu. the role of multinational banks and the financial benefits of Euro-currencies and Eurobonds. [Course Code – Course Name] 2 .firstname.lastname@example.org Units of Credit The course is worth 6 units of credit. It applies finance theory for the purposes of valuating businesses and understanding corporate financial transactions.au Tuesday 14:00 to 16:00 Lecturer-in-charge: Room: Phone No: Email: Consultation Times: Lecturer: Room: Phone No: Email: Consultation Times: A full list of tutors will be posted on Course Website. In particular.lee@unsw. 2.4 Course Aims and Relationship to Other Courses This course focuses on the application and further development of financial concepts first introduced in FINS1613 Business Finance in the corporate finance setting. This includes necessary theory and evidence basic to an understanding of international capital and foreign exchange markets. 2. A full list of tutorials. times and tutors will be on the Course Website.1 COURSE DETAILS Teaching Times and Locations Monday 2:00PM to 4:00PM Chemical Sc M18 Tuesday 11:00AM to 1:00PM Chemical Sc M17 Tuesday 6:00PM to 8:00PM Chemical Sc M18 Friday 9:00AM to 11:00AM Biomedical Theatre D (Section C) (Section A) (Section D) (Section B) Lectures start in Week 1(to Week 12): The Time and Location are: Tutorials start in Week 2 (to Week 13). financial and political risks.3 Summary of Course This course provides students with the basic theoretical and practical knowledge required for the management of financial functions of firms operating in several countries. and international equity markets. 2 2. short-term financing. this course covers topics such as international diversification. cost of capital for multinational corporations.edu.
refer to the ASB website (Learning and Teaching >Graduate Attributes). challenging. which are the qualities. the problems questions are taken from the second set of questions 'Problems'. The conceptual questions are from the first set of questions ‘Conceptual Questions’. Identify and describe methods of international capital raising 7. ethical and global perspectives In-depth engagement with relevant disciplinary knowledge Professional skills ASB GA No. To help achieve this objective we have a number of teaching aims: • Create a climate of engagement.5 Student Learning Outcomes By the end of the course.11). and engaging education experience. learning experiences and outcomes (Guidelines on Learning that Inform Teaching at UNSW (GLIT) numbers 2. as well as Butler. The lectures are used to explain concepts and to give real life examples of situations in which these concepts are used. ASB Graduate Attributes This course contributes to your development of the following Australian School of Business Graduate Attributes. Express well considered opinion on issues relating to international finance. Identify risks relating to exchange rate fluctuations and develop strategies to deal with them 6. Articulate determinants of foreign exchange rate and interpret the impact of economic events on foreign exchange rate 3. relevant.2 Learning Activities and Teaching Strategies This course is a combination of formal lectures and tutorials (problem solving classes). students should be able to: 1.7. dialogue and ongoing feedback between students and lecturers regarding the content. Discuss. • Develop independent learning skills and create an environment that both provides structure and guidance as well as encouraging students to extend their learning (GLIT numbers 2. 3. Discuss the operation of capital and foreign exchange markets 5. 1 2 3 4 5 6 To see how the ASB Graduate Attributes relate to the UNSW Graduate Attributes. The tutorials are for problem-solving and discussion of issues raised in the lectures. 3 3.10). For the discussion questions students [Course Code – Course Name] 3 . teaching strategies. All tutorial questions are from end of chapter exercises in Butler. • Cater for a variety of learning preferences and abilities by providing a range of learning activities and teaching methods (GLIT number 9).1 LEARNING AND TEACHING ACTIVITIES Approach to Learning and Teaching in the Course We seek to create an interesting. identify and evaluate foreign direct investment and acquisition opportunities 8. Analyse and discuss international macro-economic and political environment 2. Forecast foreign exchange rates with common techniques 4. There is an expectation that students will engage in additional readings.2. skills and understandings we want you to have by the completion of your degree: Learning Outcomes 1-9 1-9 9 9 1-9 1-9 ASB Graduate Attributes Critical thinking and problem solving Communication Teamwork and leadership Social. Understand theoretical and practical issues involved in managing international investment portfolio 9.
should at least prepare shorthand notes.6 Tutorials Tutorials in this course are 1-hour long and held weekly (First in week 2. Regular and punctual attendance (up to 5%) Mid-Session and Final Examination The two examinations focus on evaluating students’ understanding of the main concepts covered in class with a special focus on the learning outcomes. not the main focus of the topics. Both examinations may consist of multiple choice. Mid-session exam covers the lecture content from week 1 to week 5.4. Tutors will assess student performance in their registered tutorial based on student: 1.4.6 Due Date Tutorial Participation Mid-session Exam Final Exam 15% 35% Ongoing Week 6 (Saturday or Sunday) University Exam Period 50% 1-9 1. students are encouraged to ask questions if there is material that they do not understand. For problems. last in Week 13). [Course Code – Course Name] 4 . and make a satisfactory attempt at all assessment tasks. you must: achieve a composite mark of at least 50.2 Assessment Details The assessment tasks and their weighting in your composite mark are as follows: Assessment Task Weighting Learning Outcomes assessed 1-9 1-9 ASB Graduate Attributes assessed 1-6 1. students should prepare detailed answers. and problem solving questions. Tutorials facilitate small group discussion of course materials and permit ongoing assessment of students’ effort and achievement of learning outcomes. computations are tools.1 ASSESSMENT Formal Requirements In order to pass this course. Active participation (including questions) and contribution to the learning perspective and interest of fellow students in the subject (up to 10%) 2. In this course. If some of the conceptual questions cannot be covered in tutorials you must complete them in your own time and record them in your subject work folder. though some computations will be required.2. Details will be provided in due course. In all classes. The exams will be designed to focus on and highlight more strongly the concepts covered rather than computations. 4 4. 4. and final exam covers the lecture content from week 6 to 12.2. short-essay.
(2004). 9th Edition. Pearson • Eiteman. Prentice-Hall Australia. 2012. Lecture notes will be available for download at least one day prior to the lecture. • Eiteman. A random selection of completed assessment tasks may be used for quality assurance.au ). Addison-Wesley. 2nd ed. S. Fabozzi. The prescribed textbook for this course is: Butler. and Resnick B. Tutorial solution will be posted after the teaching week. Australia Ltd. • Moosa.J. and aggregated findings will be used to inform changes aimed at improving the quality of ASB programs. John Wiley. John Wiley & Sons. Students are encouraged to read the corresponding reference material prior to the lecture. and other materials are all provided on Black Board (http://telt. A. Lecture notes.K.Quality Assurance The ASB is actively monitoring student learning and quality of the student experience in all its programs. and Mcleavy D. I. International Financial Management. D. Allen. • Sathye. (2001).S.I. L and Weston R (2006). International Finance: An Analytical Approach. such as to determine the extent to which program learning goals are being achieved. Moffett (2001) Multinational Business Finance. International Financial Management: International Edition. 5th Ed.G.K. F. B. Second Edition. • Reilly. A.C. • Eaker. A. ‘International Financial Management. (2004). Multinational Finance. Moffett (2008) Multinational Business Finance. Dryden Press. • Shapiro. and K. M. K. All material used for such processes will be treated as confidential and will not be related to course grades. Dryden Press.edu. (1992). M.. C. International Investment. Brown (1997) ‘Investment Analysis and Portfolio Management’.. Grant (1996). Recommended textbooks: • Bekaert. 6 COURSE EVALUATION AND DEVELOPMENT Each year feedback is sought from students and other stakeholders about the courses offered in the School and continual improvements are made based on this feedback. Stonehill and M. announcements. 3rd Edition. K. McGraw-Hill. Wiley.. Australia Other Useful Reference Texts: • Buckley. A. Students should make a point of checking this site regularly. Rose L. This book is available at the UNSW bookshop located near the Quadrangle. D. 5 COURSE RESOURCES You will be able to obtain the latest course announcements and course materials via Blackboard. (2002). Geert. • Solnik. 1st Australian Edition.C. and D. Stonehill and M. Pearson Education Australia. A. Fourth Edition.unsw. The information is required for accreditation purposes.. Multinational Finance. Fifth Edition. F. Robert. (2008). ‘International Corporate Finance’.. Addison Wesley. • Eun. and Hodrick. Multinational Financial Management. 7th Edition. Rath.H. UNSW's Course [Course Code – Course Name] 5 . McGraw-Hill. Daly.
unsw.and Teaching Evaluation and Improvement (CATEI) Process is one of the ways in which student evaluative feedback is gathered.edu. you are encouraged to contact the Lecturer in Charge at bohui.edu.zhang@unsw. 7 COURSE SCHEDULE Lecture Schedule Lectures start in Week 1 and finish in Week 12. Week Week 1 (16 July) Week 2 (23 July) Week 3 (30 July) Week 4 (6 August) Week 5 (13 August) Week 6 (20 August) Week 7 (27 August) Week 8 (10 Sept) Week 9 (17 Sept) Week 10 (24 Sept) Week 11 (1 October) Week 12 (8 October) Week 13 (15 October) Lecture Topic Introduction & World Trade and the International Monetary System Foreign Exchange and Eurocurrency Markets The International Parity Conditions Currency Futures and Futures Market & The Rationale for Hedging Currency Risk International Capital Market & International Portfolio Diversification Treasury Management of International Transactions Managing Transaction & Operating Exposure to Currency Risk Mid-Session Break: 3-9 September Managing Translation Exposure and Accounting for Financial Transactions & Foreign Market Entry and Country Risk Management Cross Border Capital Budgeting & Multinational Capital Structure and Cost of Capital Taxes and Multinational Corporate Strategy Currency Options and Options Market Currency Swaps and Swaps Markets No lectures Butler’s Chapters 1&2 3 4 5&8 19 & 20 9 10 & 11 12 & 13 14 & 15 16 6 7 [Course Code – Course Name] 6 . In addition to the end of term CATEI process.au. Please access the CATEI forms via my.au during the term in relation to your experience in the course and make suggestions for potential changes that could further enhance the course. Significant changes to courses and programs within the School are communicated to subsequent cohorts of students.
6.2. 4.5 Butler’s Chapter 19: 7 Butler’s Chapter 20: 5 Problem Questions Week 7 27 August Week 8 10 Sept Week 9 17 Sept Week 10 24 Sept Week 11 1 October Week 12 8 October Week 13 15 October Butler’s Chapter 9: 1-15 Mid-Session Break: 3-9 September Butler’s Chapter 10: 1-5 Butler’s Chapter 11: 1-11 Butler’s Chapter 12: 1-15 Butler’s Chapter 13: 1-13 Butler’s Chapter 14: 1-3 Butler’s Chapter 15: 1-12 Butler’s Chapter 9: 1. 3. 3. 9. Butler’s Chapter 3: 1. 7. 5.2 Butler’s Chapter 13: 1. 11.3. 8.2. 3.5 Butler’s Chapter 8: 1.4.Tutorial Schedule Tutorials start in Week 2 and finish in Week 13.3. 9. TUTORIAL SCHEDULE Week Week 1 16 July Week 2 23 July Week 3 30 July Week 4 6 August Week 5 13 August Week 6 20 August Conceptual Questions No tutorials Butler’s Chapter 1: 1-9 Butler’s Chapter 2: 1-9 Butler’s Chapter 3: 1-14 Butler’s Chapter 4: 1-14 Butler’s Chapter 5: 1-6 Butler’s Chapter 8: 1-3 Butler’s Chapter 19: 1-11 Butler’s Chapter 20: 1-13 N. 3.3 Butler’s Chapter 6: 1. 13 Butler’s Chapter 5: 1. 9 Butler’s Chapter 15: 3.3 Butler’s Chapter 14: 1. 5 Butler’s Chapter 16: 1. 5. 7. 7.5 Butler’s Chapter 11: 1.4 Butler’s Chapter 12: 1. 5 Butler’s Chapter 10: 1.3 Butler’s Chapter 7: 1.3 Butler’s Chapter 16: 1-5 Butler’s Chapter 6: 1-7 Butler’s Chapter 7: 1-7 [Course Code – Course Name] 7 .A.2.3. 13 Butler’s Chapter 4: 1.
unsw.unsw. see: http://www. [Course Code – Course Name] 1 .edu.unsw.htm.html as well as the guidelines in the online ELISE and ELISE Plus tutorials for all new UNSW students: http://info. working on exercises and problems. To see if you understand plagiarism. In periods where you need to complete assignments or prepare for examinations. do this short quiz: http://www. See.PART B: KEY POLICIES.lc. especially. ‘Examinations’.lc. 2. For UNSW policies.edu.library. .au/plagiarism/index. and information to help you avoid plagiarism see: http://www. the workload may be greater. including maintaining a safe. information on ‘Attendance and Absence’. ‘Academic Misconduct’. Over-commitment has been a cause of failure for many students. ‘Student Responsibilities’. You should take the required workload into account when planning how to balance study with employment and other activities.unsw.html For the ASB Harvard Referencing Guide.au/plagiarism/plagquiz.au/skills/tutorials/InfoSkills/index. research.html.unsw.edu. and has very strict rules regarding plagiarism.html For information on how to acknowledge your sources and reference correctly.au/onlib/ref.2 Attendance Your regular and punctual attendance at lectures and seminars is expected in this course. and to understand their obligations in relation to workload.edu. Information and policies on these topics can be found in the ‘A-Z Student Guide’: https://my. 2. University regulations indicate that if students attend less than 80% of scheduled classes they may be refused final assessment.edu. ‘Workload’ and policies such as ‘Occupational Health and Safety’.lc. respectful environment. penalties. ‘Assessment Information’.au/student/atoz/A. This time should be made up of reading. STUDENT RESPONSIBILITIES AND SUPPORT 1 ACADEMIC HONESTY AND PLAGIARISM The University regards plagiarism as a form of academic misconduct. assessment and keeping informed. see ASB Referencing and Plagiarism webpage (ASB >Learning and Teaching>Student services>Referencing and plagiarism) 2 STUDENT RESPONSIBILITIES AND CONDUCT Students are expected to be familiar with and adhere to university policies in relation to class attendance and general conduct and behaviour. and attending classes.1 Workload It is expected that you will spend at least ten hours per week studying this course.
[Course Code – Course Name] 2 . 2.unsw.2. Applications will not be accepted by teaching staff. Please note that documentation may be checked for authenticity and the submission of false documentation will be treated as academic misconduct. General Information on Special Consideration: 1.edu.5 Keeping Informed You should take note of all announcements made in lectures. not by tutors.ohs. tutorials or on the course web site. is not acceptable and students may be asked to leave the class. Special consideration requests do not allow lecturers-in-charge to award students additional marks.download here) and other supporting documentation to Student Central.au/. From time to time.3 General Conduct and Behaviour You are expected to conduct yourself with consideration and respect for the needs of your fellow students and teaching staff. see http://www.4 Occupational Health and Safety UNSW Policy requires each person to work safely and responsibly. Applying for special consideration does not automatically mean that you will be granted a supplementary exam or other concession. The School may ask to see the original or certified copy. Decisions and recommendations are only made by lecturers-in-charge (or by the Faculty Panel in the case of UG final exam special considerations). 5. You should seek assistance early if you suffer illness or misadventure which affects your course progress. You will be deemed to have received this information. 3. All applications for special consideration must be lodged online through myUNSW within 3 working days of the assessment (Log into myUNSW and go to My Student Profile tab > My Student Services channel > Online Services > Special Consideration). It is also your responsibility to keep the University informed of all changes to your contact details.au/student/atoz/SpecialConsideration. 3 SPECIAL CONSIDERATION AND SUPPLEMENTARY EXAMINATIONS You must submit all assignments and attend all examinations scheduled for your course.edu. For more information. 2.html 2.unsw. 6. Conduct which unduly disrupts or interferes with a class.au/student/atoz/BehaviourOfStudents.html. The lecturer-in-charge will be automatically notified when you lodge an online application for special consideration. in order to avoid personal injury and to protect the safety of others. such as ringing or talking on mobile phones.edu.unsw. You will then need to submit the originals or certified copies of your completed Professional Authority form (pdf . For more information. please study carefully the instructions and conditions at: https://my. the University will send important announcements to your university email address without providing you with a paper copy. More information on student conduct is available at: https://my. 4.
2012 are: 28 November 2012 – exams for the School of Accounting 29 November 2012 – exams for all Schools except Accounting and Economics 30 November 2012 – exams for the School of Economics If a student lodges a special consideration for the final exam. 2. Failure to attend the supplementary exam will not entitle the student to have the original exam paper marked and may result in a zero mark for the final exam.asb.unsw. 3. If the Faculty panel grants a special consideration request. Hence if you are too ill to perform up to your normal standard in the regular final exam. this will entitle the student to sit a supplementary examination. must be stated by the medical practitioner (severe. you are extremely unlikely to be granted a supplementary exam. granting of a supplementary exam in such cases is not automatic. Does the medical certificate contain all relevant information? For a medical certificate to be accepted. However.au/currentstudents/resources/forms/Documents/supplementaryexamp rocedures. Where a student is granted a supplementary examination as a result of a request for special consideration. Has the student performed satisfactorily in the other assessment items? Satisfactory performance would require at least 50% in each assessment item specified in the Course Outline and meeting the obligation to have attended 80% of tutorials. The following procedures will apply: 1. moderate. The ASB’s Special Consideration and Supplementary Examination Policy and Procedures for Final Exams for Undergraduate Courses is available at: http://www. mild). the student’s original exam (if completed) will be ignored and only the mark achieved in the supplementary examination will count towards the final grade.ASB Policy on requests for Special Consideration for Final Exams in Undergraduate Courses: The policy of the School of Banking and Finance is that the lecturer-in-charge will need to be satisfied on each of the following before supporting a request for special consideration: 1.pdf. [Course Code – Course Name] 3 . A certificate without this will not be valid. they are stating they will be available on the above dates.edu. Supplementary exams will not be held at any other time. If you attend the regular final exam. Supplementary exams will be scheduled centrally and will be held approximately two weeks after the formal examination period. No other form of consideration will be granted. 2. you are strongly advised not to attend. Does the student have a history of previous applications for special consideration? A history of previous applications may preclude a student from being granted special consideration. You would still need to satisfy the criteria stated above. The dates for ASB supplementary exams for Session 2. Special Consideration and the Final Exam: Applications for special consideration in relation to the final exam are considered by an ASB Faculty panel to which lecturers-in-charge provide their recommendations for each request. and impact on the student. the degree of illness.
unsw.4 STUDENT RESOURCES AND SUPPORT The University and the ASB provide a wide range of support services for students.studentequity. Email: email@example.com. Ph: 9385 4734 [Course Code – Course Name] 4 . online and printed resources. for all UNSW students.unsw.it. Library training and search support services: http://info.au Free.edu. ASB Building.elearning. https://www.au/students/index.unsw. and support for students who have a disability or disadvantage that interferes with their learning. downloading documents etc.au to UNSW Blackboard Support / Support for Students.au/learningandteaching Academic writing.html IT Service Centre: Technical support for problems logging in to websites.au.lc.counselling. Office: Ground Floor.asb.edu. email: itservicecentre@unsw. study skills and maths support specifically for ASB students.edu.au/web/services/services.edu. and individual consultations.edu.unsw.au Academic skills support services. Ph: 9385 5418 Student Equity & Disabilities Unit http://www. and workshops on study issues such as ‘Coping With Stress’ and ‘Procrastination’.edu.unsw.au/requests Advice and direction on all aspects of admission.edu. Ground Floor. Ph: 9385 1333 UNSW Learning Centre www. enrolment and graduation. confidential service for problems of a personal or academic nature.asb. Office: Level 2. Services include workshops. ASB Building (opposite Student Centre).library.unsw.edu. Ph: 9385 3189 Blackboard eLearning Support: For online help using Blackboard.html UNSW Library Annexe (Ground floor) UNSW Counselling and Psychological Services http://www. follow the links from www.au Advice regarding equity and diversity issues. Ground Floor. EDU Office: Room GO7. Quadrangle East Wing. including workshops and resources. including: ASB Education Development Unit (EDU) http://www.edu.edu. Ph: 9385 5584. See website for details. For technical support. John Goodsell Building.au ASB Student Centre http://www.unsw. West Wing.