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2016/2017  KAN-CIBSO1002U  International Financial Markets

English Title
International Financial Markets

Course information
Language English
Course ECTS 7.5 ECTS
Type Mandatory
Level Full Degree Master
Duration One Semester
Start time of the course Autumn
Timetable Course schedule will be posted at calendar.cbs.dk
Study board
Study Board for MSc in Economics and Business Administration
Course coordinator
  • Ole Risager - Department of International Economics and Management (INT)
Main academic disciplines
  • Finance
  • Economics
Last updated on 18-08-2016
Learning objectives
To achieve the grade 12, students should meet the following learning objectives with no or only minor mistakes or errors:
  • The student should be able to outline what goes on in the global macro economy and in the financial markets and furthermore discuss how these developments affect businesses and government policies
  • The student should be familiar with major historic international payments systems and be able to explain how these systems affect businesses, investors and governments
  • The student should be familiar with the business cycle and useful leading indicators and know how to avoid common investor/business pitfalls over the cycle
  • The student should be able to explain how companies through the use of hedging techniques (forwards, futures, options and swaps) can manage financial risks
  • The student should be able to explain the notion of value investing and outline the strengths and weaknesses within an international context
Examination
International Financial Markets:
Exam ECTS 7,5
Examination form Written sit-in exam
Individual or group exam Individual exam
Assignment type Written assignment
Duration 4 hours
Grading scale 7-step scale
Examiner(s) One internal examiner
Exam period Winter and Winter
Aids allowed to bring to the exam Closed book: no aids:
  • Written sit-in-exam on CBS' computers
Make-up exam/re-exam
Same examination form as the ordinary exam
If the number of registered candidates for the make-up examination/re-take examination warrants that it may most appropriately be held as an oral examination, the programme office will inform the students that the make-up examination/re-take examination will be held as an oral examination instead.
Course content and structure

The course first outlines current macroeconomic and financial market trends within a historical context that enables students to get a proper perspective on the current situation in markets and in the global economy.
Following this we move on to study key characteristics of the business cycle.
Then the course presents a menu of useful early warning signals and leading indicators.
These tools help to obtain a rational capital allocation over the cycle.
In addition, we discuss smart investment behavior.

Finally, we discuss various ways of hedging financial risks including through use of futures, options and swaps.
Teaching methods
A mixture of lectures, exercises, and cases. Students are expected to participate in class discussions.
Student workload
lectures 33 hours
preparation for classes and exam 170 hours
Expected literature

  • Yamarone, Richard (2012), 3rd edition, The Trader's Guide to Key Economic Indicators. Bloomberg.
    Risager, O., 2016, Global Macroeconomics for Business and Investors, Mc-Graw-Hill

    Uploaded articles, etc.
Last updated on 18-08-2016