FINS3616 course outline PDF

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UNSW Business School Course Outline

FINS3616 International Business Finance - 2019 Study Level Undergraduate

Term Term 1

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UOC 6 Units of Credit

Location On Campus

School Banking & Finance

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1. Course Details 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.This includes necessary theory and evidence basic to an understanding of international capital and foreign exchange markets. In particular, this course covers topics such as international diversification, foreign direct investment decisions, cost of capital for multinational corporations, financial and political risks, the role of multinational banks and the financial benefits of Euro-currencies and Eurobonds, short-term financing, and international equity markets. The general emphasis is on the identification and management of risk relating to exchange rate fluctuations and government policy changes.

Teaching Times and Locations Please note that teaching times and locations are subject to change. Students are strongly advised to refer to the Class Timetable website for the most up-to-date teaching times and locations. View course timetable

Course Policies & Support The Business School expects that you are familiar with the contents of this course outline and the UNSW and Business School learning expectations, rules, policies and support services as listed below: Program Learning Outcomes Academic Integrity and Plagiarism Student Responsibilities and Conduct Special Consideration Protocol for Viewing Final Exam Scripts Student Learning Support Services Further information is provided in the Assessment and Policies and Support sections.

Course Aims and Relationship to Other Courses This is a core subject for all students who wish to graduate with a finance major in the BCom. Typically, students undertake this course in their second or third year of the BCom programme. This course builds on FINS1613. The course is relevant to a broad range of professions including corporate treasury management, corporate finance, international securities trading and investment management.

Student Learning Outcomes The Course Learning Outcomes (CLOs) are what you should be able to demonstrate by the end of this course, if you participate fully in learning activities and successfully complete the assessment items. CLOs also contribute to your achievement of the Program Learning Outcomes (PLOs), which are

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developed across the duration of a program for all coursework students in the Business School. More information on PLOs is available under Policies and Support . PLOs are, in turn, directly linked to UNSW graduate capabilities and the aspiration to develop “globally focussed graduates who are rigorous scholars, capable of leadership and professional practice in an international community”. The following table shows how the CLOs for this course relate to the overall PLOs and indicates where each CLO and PLO is assessed:

Course Learning Outcomes

Program Learning Outcomes

On successful completion of the course, you should be able to:

This course helps you to This learning outcome will be develop the following assessed in the following Program Learning items: Outcomes:

PLO 1: Business Analyse and discuss the international macroknowledge economic and political environment

Course Assessment Item

Tutorial Contribution Mid-session Exam #1 Mid-session Exam #2 Final Exam

Identify exchange rate risk and develop hedging strategies to deal with it

PLO 1: Business knowledge PLO 2: Problem solving

Tutorial Contribution Mid-session Exam #1 Mid-session Exam #2 Final Exam

Evaluate foreign direct investment and acquisition activities

PLO 1: Business knowledge PLO 2: Problem solving

Tutorial Contribution Mid-session Exam #1 Mid-session Exam #2 Final Exam

Construct professional and logical written work in the context of international finance Compare, contrast, and assess varying exchange rate systems and governance systems of various countries

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PLO 3: Business communication

Written project

PLO 6: Global and cultural competence

Written Project

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2. Staff Contact Details Position Title

Name

Email

Location

Phone

Consultation Times

Lecturer- Dr incharge

Yeejin Jang

Email

–

–

–

Lecturer

Dr

Jared Stanfield

Email

Room 355, UNSW Business School

02 9385 4291 –

Lecturer

Prof

Fariborz Moshirian

Email

–

–

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–

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3. Learning and Teaching Activities Approach to Learning and Teaching in the Course We seek to create an interesting, challenging, relevant, satisfying, and engaging education experience. To help achieve this objective we have a number of teaching aims: Create a climate of engagement, dialogue and ongoing feedback between students and lecturers regarding the content, teaching strategies, learning experiences and outcomes (Guidelines on Learning that Inform Teaching at UNSW (GLIT) numbers 2,7,10) Cater to a variety of learning preferences and abilities by providing a range of learning activities and teaching methods (GLIT number 9); 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 2,11); Develop skills in collaboration and teamwork, which is directly relevant to the skills required of a finance professional (GLIT numbers 6, 14);

Learning Activities and Teaching Strategies The Role of Lectures The lectures build from the relevant core readings (in the textbook) to set out the main ideas, theories and conceptual frameworks for the course. Lectures include interactive learning processes and will synthesize materials from a range of sources, including your own prior knowledge and experiences. We expect you to come to and be prepared for each lecture. This means you should have read and considered the relevant chapter. From a time management perspective, this means you will need to allocate at least three hours per week for basic reading. If you need any assistance in managing your time you will find the Australian School of Business’ Education Development Unit (EDU) a useful resource.

The Role of Tutorials The weekly tutorials provide you with an interactive environment in which to enhance your learning and your enjoyment of the course. These tutorials include problem exercises and discussions of concepts covered in lecture. All tutorial questions are from the end-of-chapter exercises in the textbook. Students should prepare detailed answers to the problems prior to the tutorial and be prepared to participate in problem solutions. In the second half of the semester, you will also be presenting your group projects during tutorial. By actively engaging in the tutorials, you will increase your confidence and competence in technical, presentation and critical thinking skills. They also provide you with the opportunity to enhance your interpersonal skills by interacting with others, working together in diverse groups, forging learning networks, learning about other cultures and learning to understand values and opinions different from your own.

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4. Assessment Formal Requirements In order to pass this course, you must: achieve a composite mark of at least 50 out of 100; meet any additional requirements described in the Assessment Summary section. You are expected to attempt all assessment requirements in the course.

Assessment Structure Assessment Task Class Contribution Mid-session Exam #1 Mid-session Exam #2 Written Project Final Exam

Weighting 10% 25%

Length

Due Date

-

Ongoing

2 hours

Week 4 (Saturday)

25%

–

10%

–

30%

2 hours

Week 7 (Saturday) Weeks 10 University Exam Period

Assessment Summary As a student at UNSW you are expected to display academic integrity in your work and interactions. Where a student breaches the UNSW Student Code with respect to academic integrity, the University may take disciplinary action under the Student Misconduct Procedure. To assist you in understanding what academic integrity means, and how to ensure that you do comply with the UNSW Student Code, it is strongly recommended that you complete the Working with Academic Integrity module before submitting your first assessment task. It is a free, online self-paced Moodle module that should take about one hour to complete. You should complete the Working with Academic Integrity module before submitting any written assessment by the due date. Non-compliance with the UNSW Student Code may result in disciplinary action.

* Tutorial marks will be made available in early November on Moodle. Students should contact their tutors to resolve any concerns related to tutorial assessments before Nov. 3rd.

Tutorials (10%) Tutorials in this course are one-hour long and held weekly (First in week 2, last in Week 13). Tutorials facilitate small group discussion of course materials and permit ongoing assessment of students’ effort business.unsw.edu.au - CRICOS Code 00098G View course outline in browser

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and achievement of learning outcomes. Tutors will assess student performance in their registered tutorial based on his/her active participation (including questions) and contribution to the learning perspective and interest of fellow students in the subject.

Exams (80%) Two examinations focus on evaluating students’ understanding of the main concepts covered in class with a special focus on the learning outcomes. Both examinations may consist of multiple choice and problem-solving questions that test students’ knowledge of relevant theories and methodologies related to International Business Finance, but also the application of these theories in real-world settings. The exams will be designed to focus on and highlight both the concepts covered and the computations required in applying these concepts. The mid-session exam covers the lecture content from week 1 to week 6, and final exam covers the lecture content from week 7 to 12. The mid-session exam will be held on the Saturday of Week 7. Students should clear their schedule in order to ensure they are able to attend the exam this week. The final exam is not comprehensive and will include those topics covered after the mid-session exam. The final examination will be held during the University Exam Period. Details will be provided in due course.

Group Project (10%) 1. The focus of the written project is on evaluating students’ understanding of comparative economic concepts covered in class with a special focus on the learning outcomes. Specifically, the project will assess students understanding and application of the Written Communication and Social and Cultural Awareness discussed above. 2. The specific details of each student's project, as well as a specific assessment rubric, will be available on Moodle following the end of week 2. 3. Generally, each student will submit an individually prepared 2-page, grammatically correct, write-up that answers specific questions regarding the risk-management policies, cultural concerns, and exchange rate systems of their assigned multinational firm and a hypothetical investment. 4. Students will submit their written assignment via Turnitin, accessed through myUNSW. Late submissions will not be accepted.

Assignment Submission Procedure Students will submit their written assignment via Turnitin, accessed through myUNSW.

Assessment Feedback Feedback on student performance from formative and summative assessment tasks will be provided to students in a timely manner. Assessment tasks completed within the teaching period of a course, other than a final assessment, will be assessed and students provided with feedback, with or without a provisional result, within 10 working days of submission, under normal circumstances. Feedback on continuous assessment tasks (e.g. laboratory and studio-based, workplace-based, weekly quizzes) will be provided prior to the midpoint of the course.

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Special Consideration You can apply for special consideration when illness or other circumstances beyond your control interfere with your performance in a specific assessment task or tasks. Special Consideration is primarily intended to provide you with an extra opportunity to demonstrate the level of performance of which you are capable. Please note the following: 1. Applications will not be accepted by teaching staff. The lecturer-in-charge/course coordinator will be automatically notified when you lodge an online application for special consideration. 2. Decisions and recommendations are only made by lecturers-in-charge/course coordinators (or by the Faculty Panel in the case of final exam special considerations), not by tutors. 3. Applying for special consideration does not automatically mean that you will be granted a supplementary exam or other concession. 4. Special consideration requests do not allow the awarding of additional marks to students. Further information on Business School policy and procedure, as well as supplementary exam dates for the current term, can be found under “Special Consideration” on the Policies and Support page.

The School of Banking and Finance supports the concept to leave the course lecturer-in-charge to stipulate a penalty of 0 to 10% of the percentage weight of the assessment component or part thereof per day. Details of such penalties will be available on the course Moodle page. Applications for extension are restricted to cases of serious illness, bereavement or misadventure and students must provide documentary evidence. Decisions on such applications will be based on policies that are consistent with the policies adopted by UNSW Business School for such cases.

Protocol for Viewing Final Exam Scripts The UNSW Business School has set a protocol under which students may view their final exam script. Individual schools within the Faculty may also set up a local process for viewing final exam scripts, so it is important that you check with your School. Further school specific information may be included below. Further to the Business School protocol for viewing final exam scripts: 1. A student must lodge a request to view his or her final exam script within 5 working days immediately following the official release of overall course results. This request must be emailed to the School of Banking and Finance at Email. 2. The School may fix a time at which all students wishing to see their exams will be permitted to do so. The date for viewing all final exam scripts with the School of Banking and Finance is the 10th working day after the official release of overall course results, and the School may fix a time for each course on that day. The School may refuse to allow access to the exams at other times.

Protocol for Viewing Other Exam Scripts is the similar to that of viewing final exam scripts except the working days are defined with reference to the release date of specific assessment result.

Quality Assurance The Business School is actively monitoring student learning and quality of the student experience in all its programs. A random selection of completed assessment tasks may be used for quality assurance, such as to determine the extent to which program learning goals are being achieved. The information is required for accreditation purposes, and aggregated findings will be used to inform changes aimed at improving the quality of Business School programs. All material used for such processes will be treated business.unsw.edu.au - CRICOS Code 00098G View course outline in browser

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as confidential.

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5. Course Resources You will be able to obtain the latest course announcements and course materials via Moodle. Lecture notes will be available for download at least one day prior to the lecture. Students are encouraged to read the corresponding reference material prior to the lecture. Tutorial solution will be posted after the teaching week.

Prescribed textbook Shapiro, A.C. (2014), Multinational Financial Management, 10th Edition, Wiley.

Other useful reference text Bekaert, Geert, and Hodrick, Robert, 2012, International Financial Management: International Edition, 2nd ed. Pearson Butler, K. (2008). Multinational Finance, John Wiley. Fourth Edition. This book is available at the UNSW bookshop located near the Quadrangle. Lecture notes, announcements and other materials are all provided on Moodle. Students should make a point of checking this site regularly.

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6. Course Evaluation & Development Feedback is regularly sought from students and continual improvements are made based on this feedback. At the end of this course, you will be asked to complete the myExperience survey , which provides a key source of student evaluative feedback. Your input into this quality enhancement process is extremely valuable in assisting us to meet the needs of our students and provide an effective and enriching learning experience. The results of all surveys are carefully considered and do lead to action towards enhancing educational quality.

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7. Course Schedule Note: for more information on the UNSW academic calendar and key dates including study period, exam, supplementary exam and result release, please visit: https://student.unsw.edu.au/ new-calendar-dates

Week

Activity

Week 1: 18 February

Lecture

Week 2: 25 February

Lecture

Week 3: 4 March

Lecture

Week 4: 11 March

Lecture

Topic

Assessment/ Other

Multinational Financial Management, Exchange Rate Determination

Chapter 1, 2

The International Monetary System and the Balance of Payments

Chapter 3,5

The Foreign Exchange Market and the Parity Conditions

(Ch 7, 4)

Parity Conditions in (Ch 4) International Finance and Currency Forecasting

Assessmen Mid-session Exam #1 t Week 5: 18 March

Lecture

Week 6: 25 March

Lecture

Week 7: 1 April