MNGT5325 International Finance - 2019

Weekly - Sydney Term 4
MNGT5325
Postgraduate
Term 1
6 Units of Credit
AGSM

Offering Selection

1. Course Details

Summary of Course

The course will provide information and analysis on the latest developments in the world of finance and their implications for business strategies. The course will provide live financial data and other information from NYU, The Wall Street Journal and The Financial Times to teach a number of issues that influence global finance and the way multinational companies build their global business networks, their activities and strategies. The course also brings a fresh perspective from eminent scholars from various leading business schools in the United States, Europe and Asia, including Nobel Laureate Robert Engle from NYU and others. Some of the anlaysis and data offered in this course are part of the collaboration between the Institute of Global Finance at the UNSW Business School and the Volatility Institute at Stern Business School, NYU.The latest issues on global finance will be taught in this course, with presentations, videos and online financial data. The basic thrust of this course is to provide a framework within which the key global financial issues, including the operations of multinational companies, can be analysed. This course is designed to develop students’ understanding of the business and financial aspects of their main specialisation. The course prepares students for leadership roles and builds understanding of global financial forces that could influence the overall business environment. We also invite guest lecturers from industry, including experts from KPMG, to share their insights with students. 

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

Course Aims and Relationship to Other Courses

This course provides students with a comprehensive foundation level of general knowledge, skills and insights about the global finance and the capacity to analyse those factors that contribute to global and regional financial stability, interconnectedness, financial opportunities and prosperity. In the course, students will gain a practical understanding of factors contributing to foreign exchange rate risk, Asian capital markets, global tax management, global investment strategies, the role and methods of operation of multinational companies, such as IT, engineering, pharmaceutical and biotech companies, and global financial risk management.

The course also provides analysis of multinational banks, investment banks such as JP Morgan, Goldman Sachs and the Bank of China and pension funds. This course is designed to teach using real and live financial data and an interactive website.

Additonal Course Details

2. Staff Contact Details

Position Name Email Location Phone Consultation Times
AGSM Scholar, Professor, Director of the Institute of Global Finance Fariborz MoshirianRoom 318, UNSW Business School building - Ref E129385 5859Tuesday 11am to 1pm.

Fariborz Moshirian is the Director of the Institute of Global Finance (IGF) at the UNSW Business School, Sydney. The IGF does collaborative research on Systemic risk, financial innovation and global financial stability with NYU, UCLA and has done joint work with the Asian Development Bank, the IMF, the World Bank, PwC and a number of world-class research centres. Fariborz was the Bertil Danielsson Professor of Finance at the Stockholm School of Economics. He is a consultant to the Asian Development Bank. He served as the Head of the School of Banking and Finance at UNSW for over four years.

He has published a number of influential research works in leading international journals including the Journal of Finance, the Journal of Financial Economics, the Journal of Financial and Quantitative Analysis, and the Journal of Banking and Finance. These research works cover subjects such as global governance, global financial stability and prosperity, interconnectedness, world order, systemic risk and the financial and social challenges and opportunities of the 21st Century.

He has been the editor of several publications on global financial, economic and social issues published by Elsevier. He has also been a co-editor of a number of policy works with senior researchers from the World Bank, the IMF, the Bank for International Settlements, the Federal Reserve Bank of New York, the Bank of England and the Reserve Bank of Australia including the following publications: "Globalization and Financial Services in Emerging Countries"; "Global Financial Crisis, Risk Analysis and Risk Management"; "Systemic Risk, Basel III, Governance and Financial Stability" and "Systemic Risk: Liquidity Risk, Governance and Global Financial Stability"

3. Learning and Teaching Activities

Approach to Learning and Teaching in the Course

In this course, students are exposed to a number of global financial issues that determine the way global businesses operate. While some fundamental issues related to global finance are presented, there are regular references to the very latest articles and features in the Financial Times and the Wall Street Journal. A number of business, finance, banking and global policy issues covered in these two newspapers are taught in the context of the fundamentals of global finance. The intention is to ensure that students can see the reasons for learning certain issues in global finance and why they are relevant to their future careers. Some short videos from major business channels such as CNBC may be used to consolidate the applications of issues with respect to global finance.

 

Learning Activities and Teaching Strategies

Learning activities will be in the context of the application of the various forces of affecting global finance as related to the operations of multinational companies. Furthermore, global policy issues with respect to trade, trade wars, capital flows, global financial stability and diversification of global businessees are some of the learning activities and factors that will enhance the learning outcomes of students.

As the very latest articles, opinions and features of the Wall Street Journal and the Financial Times are incorporated into the teaching materials of this course, students will see the real applications of fundamentals in global finance and how to prepare themselves for careers as future managers of large corporations. 

 

Course Structure

5. Course Resources

Prescribed textbook

Shapiro, A C 2014, Multinational financial management, 10th edn, Wiley, Hoboken, NJ.

Please note that enrolled students will be provided with access to the eBook version of this text prior to the commencement of the session.

Students will be provided with the PowerPoint slides used in the course, as well as solutions to the problems found at the end of each relevant chapter of the prescribed textbook, in the course Moodle site. 

Students should also use the information that is available from the Institute of Global Finance website link

Other resources

BusinessThink is UNSW’s free, online business publication. It is a platform for business research, analysis and opinion. If you would like to subscribe to BusinessThink, and receive the free monthly e-newsletter with the latest in research, opinion and business, go to link.

6. Course Evaluation & Development

Continual Course Improvement

Student Response

Response to Student Feedback

7. Course Schedule

For AGSM academic calendars and key dates please visit https://www.business.unsw.edu.au/agsm/students/resources/timetables-and-key-dates
Week Activity Topic Detail/Engagement Assessment Task
Week 1 -Introduction

Forces influencing global finance, and how companies have become multinational

Selecting countries for business expansion and issues to be considered

Discussion of the latest financial issues from The Financial Times and The Wall Street Journal

Chapter 1 of prescribed textbook

Week 2 -Global Capital Markets, Foreign Exchange Markets

Global capital, bond and stocks markets and their role for business strategies and expansion

Foreign exchange market and business strategies for exports and imports:

Chapters 7 & 2

Discussion of the latest financial issues from The Financial Times and The Wall Street Journal

Factors contributing to international investment and business expansion 

Week 3 -Global Capital Markets, Foreign Exchange Markets

The international monetary system, business strategies and the use of the US dollar, Yuan  and the Euro in capturing new markets

Chapters 3 & 5

Discussion of the latest financial issues from The Financial Times and The Wall Street Journal

Global trade imbalances and its implications for international financial stability, European financial environment and investment strategies

Week 4 -Global Capital Markets, Foreign Exchange Markets

Global systemic risk for banks and the Global Financial Crisis and their implications on large companies

Parity Conditions and factors contributing to global and regional financial stability:

Chapters 4 & 8

Discussion of the latest financial issues from The Financial Times and The Wall Street Journal

The Asia Pacific Community/region and financial globalisation in Asia and its implications for business and investment

Week 5 -International Business, Investment Opportunities and Financial Risk Management

Measuring and managing global financial exposure for new products in foreign markets and their implications for business development in Asia

Chapter 11

Sources of financing new investment and how to access global capital markets better:

Chapter 12  

Discussion of the latest financial issues from The Financial Times and The Wall Street Journal

Week 6 -International Business, Investment Opportunities and Financial Risk Management

Hedging global financial strategies for new business opportunities and the use of interest rate and currency swaps for risk management and the role of Euro markets:

Chapters 9 & 13

Discussion of the latest financial issues from The Financial Times and The Wall Street Journal

Sovereign wealth funds including those from China and new global strategies to acquire high quality companies

Week 7 Group Assignment due: Friday 5 April, 2019International Governance and Global Business Risk Management

International portfolio and foreign direct investments strategies for multinational companies

The role of international trade and trade barriers for global business strategies 

Chapters 15 & 16

Discussion of the latest financial issues from The Financial Times and The Wall Street Journal

Financial innovation, technological changes and how to create new business opportunities

The G20, the BIS and global financial stability

Week 8 -International Governance and Global Business Risk Management

Strategies to increase business opportunities in emerging countries and the use of taxes and subsidies to increase the global network

Chapters 14 & 17

Discussion of the latest financial issues from The Financial Times and The Wall Street Journal

The European financial system and its implications for business expansion in Asia

Week 9 -Global Tax System and Tax Minimisation by Multinational Companies

Managing the multinational financial system, country risk and international taxation issues:

Chapter 20

Chapter 6

Discussion of the latest financial issues from The Financial Times and The Wall Street Journal

Learning about tax regimes applied by multinational companies such as Google and Apple

Week 10 -Global Tax System and Tax Minimisation by Multinational Companies

Foreign direct investment strategies by multinational companies and global diversification strategies – such as those used by Siemens and Apple, and learning to remain globally successful

Global tax issues and global tax reforms. The way multinational corporations structure their tax and issues related to tax havens (Google, Apple, etc.)

Discussion of the latest financial issues from The Financial Times and The Wall Street Journal

Week 11 -Multinational Banks, Asian Banking system and China's Capital Market

Multinational banks and their operations in the current global environment

Investment banks and the funds management industry and their role in business development and expansion

Asian and European financial markets and the process of financial globalisation

Credit risk, liquidity risk and market risk

Materials for this class will be provided by New York University’s Volatility Institute, the Institute of Global Finance at UNSW (www.instituteglobalfinance.org) and Saunders and Cornett, Financial Institutions Management, 10th edn, McGraw Hill Publisher

Discussion of the latest financial issues from The Financial Times and The Wall Street Journal

Week 12 -Multinational Banks, Asian Banking system and China's Capital Market

Multinational banks and global business activities

Asian and European financial markets and the process of financial globalisation

Credit risk, liquidity risk and market risk and business expansion

China’s capital market, the Yuan as a major world currency and the role of China for business expansion in Asia, credit risk, Basel III and securitisation

The implications of the G20 and BIS policies on global and regional financial institutions

Materials for this topic will be provided from the same sources as class 11

Discussion of the latest financial issues from The Financial Times and The Wall Street Journal.

Some relevant materials from the website of the Institute of Global Finance (link) will be provided to students.

Review of the Course Materials

8. Policies and Support

Information about UNSW Business School protocols, University policies, student responsibilities and education quality and support.

Program Learning Outcomes

The Business School places knowledge and capabilities at the core of its curriculum via seven Program Learning Outcomes (PLOs). These PLOs are systematically embedded and developed across the duration of all coursework programs in the Business School.

PLOs embody the knowledge, skills and capabilities that are taught, practised and assessed within each Business School program. They articulate what you should know and be able to do upon successful completion of your degree.

Upon graduation, you should have a high level of specialised business knowledge and capacity for responsible business thinking, underpinned by ethical professional practice. You should be able to harness, manage and communicate business information effectively and work collaboratively with others. You should be an experienced problem-solver and critical thinker, with a global perspective, cultural competence and the potential for innovative leadership.

All UNSW programs and courses are designed to assess the attainment of program and/or course level learning outcomes, as required by the UNSW Assessment Design Procedure. It is important that you become familiar with the Business School PLOs, as they constitute the framework which informs and shapes the components and assessments of the courses within your program of study.

PLO 1: Business knowledge

Students will make informed and effective selection and application of knowledge in a discipline or profession, in the contexts of local and global business.

PLO 2: Problem solving

Students will define and address business problems, and propose effective evidence-based solutions, through the application of rigorous analysis and critical thinking.

PLO 3: Business communication

Students will harness, manage and communicate business information effectively using multiple forms of communication across different channels.

PLO 4: Teamwork

Students will interact and collaborate effectively with others to achieve a common business purpose or fulfil a common business project, and reflect critically on the process and the outcomes.

PLO 5: Responsible business practice

Students will develop and be committed to responsible business thinking and approaches, which are underpinned by ethical professional practice and sustainability considerations.

PLO 6: Global and cultural competence

Students will be aware of business systems in the wider world and actively committed to recognise and respect the cultural norms, beliefs and values of others, and will apply this knowledge to interact, communicate and work effectively in diverse environments.

PLO 7: Leadership development

Students will develop the capacity to take initiative, encourage forward thinking and bring about innovation, while effectively influencing others to achieve desired results.

These PLOs relate to undergraduate and postgraduate coursework programs.  Separate PLOs for honours and postgraduate research programs are included under 'Related Documents'.

Business School course outlines provide detailed information for students on how the course learning outcomes, learning activities, and assessment/s contribute to the development of Program Learning Outcomes.

RELATED DOCUMENTS

 

UNSW Graduate Capabilities

The Business School PLOs also incorporate UNSW graduate capabilities, a set of generic abilities and skills that all students are expected to achieve by graduation. These capabilities articulate the University’s institutional values, as well as future employer expectations.

UNSW Graduate CapabilitiesBusiness School PLOs
Scholars capable of independent and collaborative enquiry, rigorous in their analysis, critique and reflection, and able to innovate by applying their knowledge and skills to the solution of novel as well as routine problems.
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 4: Teamwork
  • PLO 7: Leadership development

Entrepreneurial leaders capable of initiating and embracing innovation and change, as well as engaging and enabling others to contribute to change
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 4: Teamwork
  • PLO 6: Global and cultural competence
  • PLO 7: Leadership development

Professionals capable of ethical, self-directed practice and independent lifelong learning
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 5: Responsible business practice

Global citizens who are culturally adept and capable of respecting diversity and acting in a socially just and responsible way.
  • PLO 1: Business knowledge
  • PLO 2: Problem solving
  • PLO 3: Business communication
  • PLO 4: Teamwork
  • PLO 5: Responsible business practice
  • PLO 6: Global and cultural competence

While our programs are designed to provide coverage of all PLOs and graduate capabilities, they also provide you with a great deal of choice and flexibility.  The Business School strongly advises you to choose a range of courses that assist your development against the seven PLOs and four graduate capabilities, and to keep a record of your achievements as part of your portfolio. You can use a portfolio as evidence in employment applications as well as a reference for work or further study. For support with selecting your courses contact the UNSW Business School Student Centre.




Academic Integrity and Plagiarism

Academic Integrity is honest and responsible scholarship. This form of ethical scholarship is highly valued at UNSW. Terms like Academic Integrity, misconduct, referencing, conventions, plagiarism, academic practices, citations and evidence based learning are all considered basic concepts that successful university students understand. Learning how to communicate original ideas, refer sources, work independently, and report results accurately and honestly are skills that you will be able to carry beyond your studies.

The definition of academic misconduct is broad. It covers practices such as cheating, copying and using another person’s work without appropriate acknowledgement. Incidents of academic misconduct may have serious consequences for students.

Plagiarism

UNSW regards plagiarism as a form of academic misconduct. UNSW has very strict rules regarding plagiarism. Plagiarism at UNSW is using the words or ideas of others and passing them off as your own. All Schools in the Business School have a Student Ethics Officer who will investigate incidents of plagiarism and may result in a student’s name being placed on the Plagiarism and Student Misconduct Registers.

Below are examples of plagiarism including self-plagiarism:

Copying: Using the same or very similar words to the original text or idea without acknowledging the source or using quotation marks. This includes copying materials, ideas or concepts from a book, article, report or other written document, presentation, composition, artwork, design, drawing, circuitry, computer program or software, website, internet, other electronic resource, or another person's assignment, without appropriate acknowledgement of authorship.

Inappropriate Paraphrasing: Changing a few words and phrases while mostly retaining the original structure and/or progression of ideas of the original, and information without acknowledgement. This also applies in presentations where someone paraphrases another’s ideas or words without credit and to piecing together quotes and paraphrases into a new whole, without appropriate referencing.

Collusion: Presenting work as independent work when it has been produced in whole or part in collusion with other people. Collusion includes:

  • Students providing their work to another student before the due date, or for the purpose of them plagiarising at any time
  • Paying another person to perform an academic task and passing it off as your own
  • Stealing or acquiring another person’s academic work and copying it
  • Offering to complete another person’s work or seeking payment for completing academic work

Collusion should not be confused with academic collaboration (i.e., shared contribution towards a group task).

Inappropriate Citation: Citing sources which have not been read, without acknowledging the 'secondary' source from which knowledge of them has been obtained.

Self-Plagiarism: ‘Self-plagiarism’ occurs where an author republishes their own previously written work and presents it as new findings without referencing the earlier work, either in its entirety or partially. Self-plagiarism is also referred to as 'recycling', 'duplication', or 'multiple submissions of research findings' without disclosure. In the student context, self-plagiarism includes re-using parts of, or all of, a body of work that has already been submitted for assessment without proper citation.

To see if you understand plagiarism, do this short quiz: https://student.unsw.edu.au/plagiarism-quiz

Cheating

The University also regards cheating as a form of academic misconduct. Cheating is knowingly submitting the work of others as their own and includes contract cheating (work produced by an external agent or third party that is submitted under the pretences of being a student’s original piece of work). Cheating is not acceptable at UNSW.

If you need to revise or clarify any terms associated with academic integrity you should explore the 'Working with Academic Integrity' self-paced lessons available at: https://student.unsw.edu.au/aim.

For UNSW policies, penalties, and information to help you avoid plagiarism see: https://student.unsw.edu.au/plagiarism as well as the guidelines in the online ELISE tutorials for all new UNSW students: http://subjectguides.library.unsw.edu.au/elise. For information on student conduct see: https://student.unsw.edu.au/conduct.

For information on how to acknowledge your sources and reference correctly, see: https://student.unsw.edu.au/referencing. If you are unsure what referencing style to use in this course, you should ask the lecturer in charge.


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, including maintaining a safe, respectful environment; and to understand their obligations in relation to workload, assessment and keeping informed.

Information and policies on these topics can be found on the 'Managing your Program' website.

Workload

It is expected that you will spend at least ten to twelve hours per week studying for a course except for Summer Term courses which have a minimum weekly workload of twenty to twenty four hours. This time should be made up of reading, research, working on exercises and problems, online activities and attending classes. In periods where you need to complete assignments or prepare for examinations, the workload may be greater. Over-commitment has been a cause of failure for many students. You should take the required workload into account when planning how to balance study with employment and other activities.

We strongly encourage you to connect with your Moodle course websites in the first week of semester. Local and international research indicates that students who engage early and often with their course website are more likely to pass their course.

View more information on expected workload

Attendance

Your regular and punctual attendance at lectures and seminars or in online learning activities is expected in this course. The Business School reserves the right to refuse final assessment to those students who attend less than 80% of scheduled classes where attendance and participation is required as part of the learning process (e.g., tutorials, flipped classroom sessions, seminars, labs, etc.).

View more information on attendance

General Conduct and Behaviour

You are expected to conduct yourself with consideration and respect for the needs of your fellow students and teaching staff. Conduct which unduly disrupts or interferes with a class, such as ringing or talking on mobile phones, is not acceptable and students may be asked to leave the class.

View more information on student conduct

Health and Safety

UNSW Policy requires each person to work safely and responsibly, in order to avoid personal injury and to protect the safety of others.

View more information on Health and Safety

Keeping Informed

You should take note of all announcements made in lectures, tutorials or on the course web site. From time to time, the University will send important announcements to your university e-mail address without providing you with a paper copy. You will be deemed to have received this information. It is also your responsibility to keep the University informed of all changes to your contact details.



Student Support and Resources

The University and the Business School provide a wide range of support services and resources for students, including:

Business School Education Quality and support Unit (EQS)
The EQS offers academic writing, study skills and maths support specifically for Business students. Services include workshops, online resources, and individual consultations.
Level 1, Room 1033, Quadrangle Building.
bschoolconsults@unsw.edu.au
02 9385 7577 or 02 9385 4508

Business School Student Centre
The Business School Student Centre provides advice and direction on all aspects of admission, enrolment and graduation.
Level 1, Room 1028 in the Quadrangle Building
02 9385 3189

UNSW Learning Centre
The UNSW Learning Centre provides academic skills support services, including workshops and resources, for all UNSW students. See their website for details.
Lower Ground Floor, North Wing Chancellery Building.
learningcentre@unsw.edu.au
02 9385 2060

Educational Support Service
Educational Support Advisors work with all students to promote the development of skills needed to succeed at university, whilst also providing personal support throughout the process. Check their website to request an appointment or to register in the Academic Success Program.
John Goodsell Building, Ground Floor.
advisors@unsw.edu.au
02 9385 4734

Library services and facilities for students
The UNSW Library offers a range of collections, services and facilities both on-campus and online.
Main Library, F21.
02 9385 2650

Moodle eLearning Support
Moodle is the University’s learning management system. You should ensure that you log into Moodle regularly.
externalteltsupport@unsw.edu.au
02 9385 3331

UNSW IT
UNSW IT provides support and services for students such as password access, email services, wireless services and technical support.
UNSW Library Annexe (Ground floor).
itservicecentre@unsw.edu.au
02 9385 1333

Disability Support Services
UNSW Disability Support Services provides assistance to students who are trying to manage the demands of university as well as a health condition, learning disability or who have personal circumstances that are having an impact on their studies. Disability Advisers can arrange to put in place services and educational adjustments to make things more manageable so that students are able to complete their course requirements. To receive educational adjustments for disability support, students must first register with Disability Services.
Ground Floor, John Goodsell Building.
disabilities@unsw.edu.au
02 9385 4734

UNSW Counselling and Psychological Services
Provides support and services if you need help with your personal life, getting your academic life back on track or just want to know how to stay safe, including free, confidential counselling.
Level 2, East Wing, Quadrangle Building.
counselling@unsw.edu.au
02 9385 5418


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MNGT5325