ACC3007:INTERNATIONAL MONEY AND FINANCE Stage 3 (Final)

ACC3007 International Money and Finance
 
• MODULE TUTOR CONTACT DETAILS

Your tutor can be contacted through email in the first instance. A formal appointment can be made.

• PREREQUISITES: None Keith
 Marshall, 2002

• COURSE MATERIAL 

Essential course material:  

• Moffett, M. Stonehill, A. and Eiteman, D. (2012), Fundamentals of Multinational Finance. 4th ed. Pearson [The 3rd Edition 2008 will also be of use.]

 Recommended course material

• Buckley A Multinational Finance. FT
• Cowdell, P and Hyde, D. International Trade Finance. IFS
• Madura J - International Financial Management  ed; West Publications
• Eun and Resnick International Financial Management
The above is not an exhaustive reading list. Students will also be expected to make full use of periodicals, databases and the financial press, all of which are available in the library, both for their group presentations and when completing assignment work.
Additional learning resources (optional):

• Web links to many sites with useful information. Reading newspapers and watching/listening to the news is a good way of developing an understanding of trade and international finance. There are additional documents/articles available on NILE. This module also has a virtual learning area within the library web site.

• CONTEXT

The changes currently taking place in the international monetary environment of business, both in Europe and at global level, are placing increasing emphasis upon the ability of companies to maximise the resultant opportunities and minimise the resultant threats by means of international financial management. This module aims to offer students an explanation of the key factors involved in these developments.

This module is suitable for students who have previously studied financial management or corporate finance and wish to expand this knowledge on an international dimension. Equally however it is suited to students that have little knowledge of International finance but who have demonstrated an interest in this area.

The module also allows students the opportunity to consider the increasingly important aspect of financial management in international business and thus provides the basis for further study in this field for those students who wish it.

Following a brief introduction, the first major element focuses on the changing international monetary environment confronting British, European and global firms. The second examines the progress currently being made towards the integration of capital markets on an international level. The third element examines techniques for managing foreign exchange risks now being employed at company level, and the module concludes by considering the changing characteristics of international financial management in a multinational setting.

Learning Outcomes:

On successful completion of the module students will be able to:

Knowledge and Understanding

 understand the principal ways in which the international environment affects firms involved in international trade and investment

 be aware of the opportunities and risks involved in raising short and long term finance via the Eurocurrency markets

 understand the process of global financial market integration and its implications for business

 understand the basis for and nature of international financing and corporate foreign investment decisions

 appreciate the functioning of foreign exchange markets, exchange rate and interest   rate risks, and the rationale for international financial management.

 Understand the techniques of international financial management and their application by firms.

Subject - specific Skills
 
 use hedging techniques to minimise foreign exchange risk

 understand the economic issues that impact on the international environment and formulate opinions

 to calculate the costs of hedging

 evaluate the effectiveness of the international financial community in monitoring the world economy

  engender economic and political debate

Key Skills

 demonstrate an ability to effectively present an array of arguments and to justify conclusions

 take responsibility for carrying out agreed tasks in preparing and delivering a group presentation on an agreed topic

 produce written work in an acceptable business format

 manage time effectively

 apply a body theoretical knowledge to solve problems

 communicate information effectively, orally and in writing using all available presentation techniques

 make effective decisions to argue and to defend a convincing case on a given issue, either individually or as part of a group

 research effectively using all methods, including the internet

Lecture and Seminar Programme

Individual timetables are compiled by the University's timetabling unit every year.  Students returning from previous years will have a preliminary timetable when they arrive.  It may take a few weeks before all timetables are finalised.  Timetables should be checked regularly for any changes.

Teaching and Learning Strategy:

This module will be delivered via 1 x1 hour lectures, and 1 x 1 seminar per week. Lectures will generally be of traditional format, Seminars will involve students and it is expected that all will attend these important sessions. During the period leading up to the first assessment that involves a presentation, some seminars will concentrate on preparing for the presentation and the assessed work generally. It is important that all students attend these sessions as there is a contribution grade that will count towards the individual grade of each student.

The course will be assessed by coursework only.

The coursework will consist of an individual written assignment and a group presentation and group transcript, each of which will have an equal weighting in determining the final mark for coursework.

Assignment 1. The assessed group presentation will be given by small groups of students on a topic agreed with the tutor. It is expected that the presentation will last for approximately 20 minutes; this will allow sufficient time for questions and a discussion.

The transcript will be a detailed written report of a maximum of 4,000 words, based on the presentation. In addition each group is expected to submit an interim report on progress.

Assignment 2. The written assignment will take the form of a report on a major UK listed company of approximately 2,500 words in length. It is expected that all scripts will be typed or word processed.

Overall coursework weights are essay 60% and presentation \ transcript 40%. The latter  will  be weighted presentation 45%; transcript 45% ; interim report 10%

Contribution

There are a number of seminars that concentrate on preparation for assignment 1-the group presentation. Attendance at these sessions will be assessed by a contribution grade. The contribution grade requires attendance at seminars. The rationale for the grade is to ensure that all group participants play an active role in the development of the research topic for presentation. Students will be penalized if there is evidence that no contribution has been made, by either non attendance or through group and individual discussions within the seminar.

• MANAGING YOUR STUDIES – LEARNING TIPS

• You need to devote approximately 2 hours of study to cover each one hour of classroom contact.
• Allow approximately 30 hours to complete each assessment. Pay particular attention to presentation and referencing
• Do not try to cover too much ground in too little time, especially at the beginning.
• Work at your own pace and be relaxed and alert to be able to absorb the information.
• Ideally you should study for periods of 45-60 minutes every day or every other day.
• A comprehensive revision programme will be provided at the end of the taught module
Alternatively, you might find it useful to work for longer periods of 2 to 3 hours with short breaks of 10 or 15 minutes in between, twice a week.
• PLEASE NOTE THAT THERE IS A HIGH LEVEL OF CORRELATION BETWEEN ATTENDANCE AND SUCCESS
• NO EXTENSIONS WILL BE ALLOWED UNLESS THIS IS PROVIDED WITH MEDICAL EVIDENCE
 

• IMPORTANT DEADLINES / DATES

WRITTEN ASSIGNMENT DEADLINES
• Assignment 1:  Interim report (online) 31/10/2011
•                           Transcript (online) 28/11/2011
•                           Presentations weeks commencing 28/11/2011
•                           Hardcopy hand in: interim, transcript and#p#分页标题#e#
•                           slides  01/12/2011
• Assignment 2:  15/12/2011
• Resubmission is on the  04/05/2012
ALL SUBMISSIONS FOR THIS MODULE WILL BE ONLINE THROUGH NILE plus a paper copy through SAO
 

• COURSEWORK ASSIGNMENTS: REGULATIONS

1. Your written assignments are posted on the NILE site for ACC3007 under ‘Assignments’ where you can download them. It is your responsibility to submit your answer online by the due deadline. You must attach the cover sheet with each assignment. Failure to meet deadlines is subject to penalties. You assignment will be marked and grade provided online. Feedback will be given on the assignment itself and by general feedback on the cohort.
There is Virtual Librarian support for this module

Full details of procedures for assessment and submission are available in the appropriate section of the student guide
You can, if you wish, submit your assignments before the published deadline, but you need to be confident that you have covered all the learning outcomes and answered all the questions.

2. Please note that each written assignment must be word-processed. If the assignment is NOT word-processed, it will NOT be accepted.

3. Where a student cannot meet the deadline due to illness or mitigating circumstances beyond his/her control, s/he may seek an extension to the deadline. Please contact your tutor ASAP if you are struggling to meet the deadline.

4. Please use the front sheet provided for each assessment

Please note: Details of the Mitigating Circumstances Procedure & University Regulations on assessment matters are included in the Course Guide. They can also be accessed online at:

http://www.northampton.ac.uk/info/200224/assignments

• MARKING CRITERIA FOR WRITTEN COURSEWORK

For details of the marking criteria see the cover sheet attached to each written coursework assignment.

• ASSIGNMENT FEEDBACK

Individual written feedback will be provided on assignment scripts.  Collective feedback may also be given in lectures and may be placed on NILE. Assignments will be returned to students during lectures.

Assignments

Instructions

• The assignment must be word processed with an appropriate front sheet.
• Your work will be penalised for poor presentation and incomplete or poor referencing.
• Please refer to the generic grade descriptions for a detailed marking criteria.
• See www.northampton.ac.uk/caf

Assignment 2 Individual essay

The Essay

In answering the question below students would be expected to refer to company group report and accounts, analysts’ and company reports from trade and other journals and relevant theory. 

Chose one company from the list below:

• Colt Group S.A
• Computacenter plc
• Devro plc
• Dixons Retail plc

Outline and evaluate the international company by commenting on key financial variables and capital structure. Discuss the importance of international trade to the company and its future development.

You should include the following information about the company: