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2021/2022  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
  • David Jinkins - Department of Economics (ECON)
Main academic disciplines
  • Finance
  • Economics
Teaching methods
  • Face-to-face teaching
Last updated on 20-12-2021

Relevant links
Learning objectives
  • 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
Prerequisites for registering for the exam (activities during the teaching period)
Number of compulsory activities which must be approved (see section 13 of the Programme Regulations): 1
Compulsory home assignments
The student must get 1 out of 4 assignments/activities approved in order to attend the ordinary exam. There will be 4 classes of 1H duration, altogether 4 hours compulsory activity.

Students will work on questions/assignments, which will provide them with a deeper understanding of the course which will also prepare them for the exam. Students will then present their work/answers in front of the class mates.

The student will receive feedback on each student presentation.

All students in the class will do at least one exercise during the 4H exercise classes.

Students will not have extra opportunities to get the required number of compulsory activities approved prior to the ordinary exam. If a student has not received approval of the required number of compulsory activities or has been ill, the student cannot participate in the ordinary exam.
If a student prior to the retake is still missing approval for the required number of compulsory activities and meets the pre-conditions set out in the program regulations, an extra assignment is possible.

The extra assignment is a 10 page home assignment that will cover the required number of compulsory activities. If approved, the student will be able to attend retake.
Examination
International Financial Markets:
Exam ECTS 7,5
Examination form Home assignment - written product
Individual or group exam Individual exam
Size of written product Please see text below
No maximum number of pages, students have 4 hours to complete the assignment.
Assignment type Written assignment
Duration Written product to be submitted on specified date and time.
Grading scale 7-point grading scale
Examiner(s) One internal examiner
Exam period Winter
Make-up exam/re-exam
Same examination form as the ordinary exam
Course content, structure and pedagogical approach

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.
Description of the teaching methods
A mixture of lectures, exercises, and cases. Students are expected to participate in class discussions.
Feedback during the teaching period
1) Individual/group level feedback at class presentations.

2) Individual/group-level feedback during supervision meetings.

Student workload
lectures 37 hours
preparation for classes and exam 169 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 20-12-2021