Course Description.

This course studies the global financial environment. It mainly examines the international monetary system, exchange rate regimes occurred in the past starting with gold standard, and then fixed and fluctuating exchange rates; contemporary exchange rate regimes, exchange rate determination, international financial markets, and transactions in foreign exchange markets in which banks and bankers are more likely to encounter in their usual operations. Major areas covered include the globalization process of the financial environment, exchange rate determination, the balance of payment, foreign currency derivatives with other hedging activities against foreign exchange risks through international financial instruments, and foreign direct investment theory and strategy.