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FNCE3004 International Finance Semester 2 2023 Miri Sarawak Campus INT
FNCE3004 International Finance Semester 2 2023 Miri Sarawak Campus INT
Unit Outline
Acknowledgement of Country
We respectfully acknowledge the Indigenous Elders, custodians, their descendants and kin of this land past and
present. The Centre for Aboriginal Studies aspires to contribute to positive social change for Indigenous
Australians through higher education and research.
Syllabus
In this unit, students extend their understanding of financial management, operations and decisions to an
international setting. Students will assess emerging technologies to generate forward-looking novel ideas and
solutions in international finance. The content of this unit includes the foundations of international financial
management; the foreign exchange market; exchange rate determination; currency derivatives; foreign exchange
exposure and management; world financial markets and institutions; and the financial management of the
multinational firm.
Introduction
The aim of this unit is to provide students with comprehensive knowledge and understanding of international finance with
focus on the application of it by firms and multinational corporations in an environment characterised by globalisation and an
integration of the world economy. More specifically, the unit content includes:
1. The international financial environment: globalisation and the multinational enterprise, foreign exchange markets,
quotations, arbitrage, and exchange rate determination.
2. Foreign exchange and interest rate risk management: how the multinational corporations measure and manage foreign
exchange and interest rate risks using derivative products and instruments.
3. International banking, international money market, international capital budgeting and international trade finance.
All students in this unit have the opportunity to contact me for additional consultation. My consult times are listed in the
contacts tab on blackboard. I encourage all students to contact me during my scheduled hours.
Graduate Capabilities
On successful completion of this unit students can:
addressed
1 Demonstrate understanding of the macroeconomic and institutional foundations of
international financial management
2 Explain the determination of current and expected exchange rates and apply
appropriate hedging instruments to manage exchange rate risks
3 Evaluate the role of international financial markets and institutions in mitigating
exchange rate uncertainty
4 Create ethical and sustainable solutions for issues relating to firms operating in an
international environment
Curtin's Graduate Capabilities
Apply discipline
Innovative, creative and Effective communicators
knowledge, principles
entrepreneurial with digital competency
and concepts
Find out more about Curtin's Graduate Capabilities at the Learning Innovation and Teaching Excellence Centre
(LITEC) website: litec.curtin.edu.au
Learning Activities
Learning activities include lectures and tutorials. Lectures are by no means exhaustive. It is important to work,
before each lecture, through the textbook material that will be covered in lectures. Students are expected to
download the relevant PPT slides each week from Blackboard and bring them to the lectures. As for tutorials,
students are expected to attempt all tutorial questions before each tutorial class. Students are also expected to
work through textbook end-of-chapter questions and problems that will be discussed in tutorial sessions and
actively participate in the tutorial sessions to enhance their knowledge and understanding of the unit content.
Learning Resources
l C.S. Eun B.G. Resnick and T. Chuluun, International Financial Management, 10th edition, McGraw-Hill
Education, ISBN 978-1-266-22405-8
(ISBN/ISSN: 978-1-266-22405-8)
Other resources
Students are provided on Blackboard (as part of unit materials) with recorded ilectures for all the chapters
covered in lectures and also itutorials for end-of-chapter questions and problems that will be applicable to mid-
semester/trimester and end-of-semester/trimester assessment. These recorded ilectures and itutorials become
available at the end of the week that the lecture/tutorial is conducted.
Assessment
Assessment schedule
Unit
Late Assessment
Value Learning
Task Date Due Assessments Extensions
% Outcome(s)
Accepted?* Considered?*
Assessed
eTest 25% Week: Week 8 1,2,3 No Yes
Starting 11
September 2023
Day: Thursday 14
1 September - Friday
15 September 2023
Time: 12pm 14/09,
2023 - 12pm 15/09,
2023 Perth WA time
Case study 35% Week: Week 12 1,2,4 Yes Yes
Starting 9 October
2023
2 Day: Friday 13
October 2023
Time: 5pm, Perth
WA time
Final Exam 40% Week: Weeks 15 2,3,4 Yes Yes
and 16 starting 30
3 October 2023
Day: TBA
Time: TBA
*Please refer to the Late Assessment and the Assessment Extension sections below for specific details and
conditions.
Detailed information on assessment tasks
study material with you during the test since it is an open-book test.
l The test will become available under the section “Assessments” on Blackboard at 12pm
on the day that the mid-semester test is scheduled in the unit outline and program
calendar.
l You have to conduct the test at any time between 12pm, 14 September and 12pm, 15
September on the date for the test stipulated in the unit outline. It will be in the format
of a multiple choice and short answer eTest.
l You are only allowed one attempt to the test. Therefore, please do not access the test
until you are ready to complete it in a single session.
l Total time allowed for completion of the test: 90 minutes. Therefore, ensure that you
have sufficient time available and will not be disturbed when conducting the test.
l The first part will consist of multiple choice theoretical questions from Chapters, 1, 2, 3
and 5. The second part will contain cross rate and arbitrage calculations from Chapter 5
for which you will have to show your workings in the space provided in the eTest.
Calculation questions will be based on those in the textbook but they will not be
identical. You have to answer all questions.
l The formula sheet that contains the formulas applicable for calculations, will be
accessible in the eTest. When you conduct the test, you are provided with the link to the
formula sheet and can access it. It is the same as the "eTest Formula sheet. docx." that is
attached to the mid-semester test information on Blackboard. When you conduct the
example eTest you will also get access to the same formula sheet. Therefore please
conduct this example eTest to familiarise yourself with the way that you obtain access to
it whilst conducting the eTest.
l You can access the eTest for feedback after the test was completely marked. This will
allow you to see which questions you answered correctly and which questions not.
The table below summarises the knowledge and understanding that you will require for the
mid-semester test.
CHAPTER END OF CHAPTER QUESTIONS AND PROBLEMS AS WELL AS OTHER
KNOWLEDGE AND UNDERSTANDING REQUIRED FOR THE MID-SEMESTER
TEST
Aspects addressed on lecture slides during lectures.
1
l
l Questions 2, 3, 4, 5 and 6 and should understand comparative advantage and its
application.
The case study - Foreign Exchange Hedging will comprise questions from chapters 5, 6, 7
and 8 of the prescribed textbook. The table below summarises the knowledge and
understanding that you will require for this case study.
CHAPTER LECTURES, END OF CHAPTER QUESTIONS AND PROBLEMS
l Aspects addressed on lecture slides during lectures.
5
l Questions 1, 2, 3, 4, 5, 7, 8, 9, 10 as well as an understanding of correspondent
banking relationships and how foreign exchange transactions are conducted between
them; spot rates; forward rates; different exchange rate quotations; arbitrage; and
triangular arbitrage.
l Problems: 3, 4, 9, 11, 13 and 15.
When and how to access case study:
The due date and time are stipulated in the unit outline. Please retrieve the information in time from
Blackboard to complete it. You are required to download the case study questions and the case study
answer sheet from the “Case Study - Foreign Exchange Hedging” section on Blackboard in the main
“Assessments” section. It consists of two documents, namely a document with case study scenarios and
questions on it and a separate pre-designed answer sheet. Answer all the case study questions by
completing the answer sheet provided.
How to submit case study answers:
Please submit your completed answer sheet via Turnitin before the due date and time shown under the
Assessment Schedule in the unit outline. Go to the Assessments folder where you will find a link
"View/Complete" under a heading called "Case Study - Foreign Exchange Hedging ". Click on the link
which will lead you to Turnitin and follow the instructions over there in order to submit your case study
answers. I have also provided another link showing you some FAQs of submitting assignments with Turnitin
in the same folder. Please check it out before you submit your answers. You can submit the answers in
different formats like in Word, PDF or a scanned copy of handwritten answers.
Case study - Foreign Exchange Hedging marking criteria: Your case study answers will be graded based
on the correctness of your answers, since it consists of calculations. Marking will be conducted within two
weeks after submission by students.
Assessment extension:
In all cases where you cannot submit the case study answers before the due date and time, please refer to
the assessment extension details provided in the unit outline (also a separate information item part of
"Assessments" on Blackboard) and follow the instructions.
3. Final Exam (40% of total marks)
The final exam will be in the format of a case study. You will be provided with a scenario for
which you are required to provide answers to specific questions. These questions will require a
combination of calculations and theoretical explanations.
This case study will comprise questions from chapters 6, 7, 8, 11, 14, 18 and 20 of the
prescribed textbook. The table below summarises the knowledge and understanding that you
will require for the case study. The final exam dates and venues will be made avaiable by the
Central Examinations Office before the end of the semester. Please retrieve the information
from your OASIS student account.
CHAPTER LECTURES, END OF CHAPTER QUESTIONS AND PROBLEMS
l Aspects addressed on lecture slides during lectures.
6
l Questions 1, 2, 3, 5, 6, 7 and 10. Students should also be able to interpret the
theoretical content of the questions to answer multiple choice questions that may be
theoretical or in practical context.
l Problems: 1, 2, 3, 8 and 12.
Pass requirements
Students are required to attempt and submit all assessment tasks and achieve an overall mark of 50 or above to
pass the Unit.
Assessment Moderation
Pre-marking moderation
During course review processes the assessment design and management of the task related to moderation practices are
considered. Planned tasks are reviewed against the unit learning outcomes and syllabus, and the fairness of the assessment
judged. When a new assessment is planned, outside of the course review process, the Unit Coordinator (UC) discusses the
assessment design and marking guide with the unit’s co-assessor and other teaching staff. The UC and the co-assessor discuss
and finalise the content of all assessments before release to students. Marking guides or rubrics are developed by the UC and
co-assessor to ensure consistent marking practices. The requirements of the assessment task are clearly communicated to
students.
Late assessment
Where the submission of a late assessment is permitted, late penalties will be consistently applied in this unit.
Where a late assessment is permitted for an assessment item or the entirety of the unit (refer to the Assessment
Schedule table in this Unit Outline) and the student does not have an approved assessment extension:
1. For assessment items submitted within the first 24 hours after the due date/time, students will be penalised
by a deduction of 5% of the total marks allocated for the assessment task;
2. For each additional 24 hour period commenced an additional penalty of 10% of the total marks allocated
for the assessment item will be deducted; and
3. Assessment items submitted more than 168 hours late (7 calendar days) will receive a mark of zero.
Where late assessment is NOT permitted for an assessment item or the entirety of the unit (refer to the
Assessment Schedule table in this Unit Outline) and the student does not have an approved assessment extension:
1. All assessment items submitted after the due date/time will receive a mark of zero.
Assessment extension
Where an application for an assessment extension is permitted for an assessment item(s) within this unit (refer to
the Assessment Schedule table in this Unit Outline):
1. A student who is unable to complete an assessment item by/on the due date/time as a result of exceptional
circumstances beyond the student’s control, may apply for an assessment extension on the Assessment
Extension Application Form as prescribed by the Academic Registrar. The form is available on the Forms
page at https://students.curtin.edu.au/essentials/forms-documents/forms/ and also within the student's
OASIS (My Studies tab – Quick Forms) account.
2. The student will be expected to submit their application for an Assessment Extension with supporting
documentation via the online form.
3. Timely submission of this information supports the assessment process. For applications that are declined,
delayed submission may have significant ramifications on the possible marks awarded.
4. An application may be accepted up to five working days after the due date/time of the assessment item
where the student is able to provide a verifiable explanation as to why they were not able to submit the
application prior to the assessment due date/time
Where an application for an assessment extension is NOT permitted for an assessment item(s) within this unit
(refer to the Assessment Schedule table in this Unit Outline):
1. All assessment items submitted after the due date/time will be subject to late penalties or receive a mark of
zero depending on the unit permitting late assessment submissions.
Deferred assessments
If your results show that you have been granted a deferred assessment you should immediately check OASIS for
details.
Deferred examinations/tests will be held from 06/12/2023 to 15/12/2023 . Notification to students will be made
after the Board of Examiners’ meeting via the Official Communications Channel (OCC) in OASIS.
Further assessment
Further assessments, if granted by the Board of Examiners, will be held between 06/12/2023 and 15/12/2023 .
Notification to students will be made after the Board of Examiners meeting via the Official Communications
Channel in OASIS.
It is the responsibility of the student to be available to complete the requirements of a further assessment. If your
results show that you have been granted a further assessment you should immediately check OASIS for details.
Referencing style
The referencing style for this unit is Chicago 17th B.
More information can be found on this style from the Library web site:
https://libguides.library.curtin.edu.au/uniskills/referencing/chicago17.
Privacy
As part of a learning or assessment activity, or class participation, your image or voice may be recorded or
transmitted by equipment and systems operated by Curtin University. Transmission may be to other venues on
campus or to others both in Australia and overseas.
Your image or voice may also be recorded by students on personal equipment for individual or group study or
assessment purposes. Such recordings may not be reproduced or uploaded to a publicly accessible web
environment. If you wish to make such recordings for study purposes as a courtesy you should always seek the
permission of those who are impacted by the recording.
Recording of classes or course materials may not be exchanged or distributed for commercial purposes, for
compensation, or for any other purpose other than personal study for the enrolled students in the unit. Breach of
this may subject a student to disciplinary action under Statute No 10 – Student Disciplinary Statute.
If you wish to discuss this please talk to your Unit Coordinator.
Copyright
The course material for this unit is provided to you for your own research and study only. It is subject to
copyright. It is a copyright infringement to make this material available on third party websites without the express
written consent of Curtin University.
If you need support or to access IT equipment on the Curtin Perth campus find out more
Additional information
Enrolment
It is your responsibility to ensure that your enrolment is correct - you can check your enrolment through the
eStudent option on OASIS, where you can also print an Enrolment Advice.
Information on all of the above is available through the University's "Student Rights and Responsibilities" website
at: students.curtin.edu.au/rights.
Note: In Australia and other jurisdictions, students are required to complete a screening check prior to
undertaking any activities that include children (e.g. surveying children at a school as part of a project). If this
applies to you, start by contacting your unit coordinator for advice.
Student Equity
There are a number of factors that might disadvantage some students from participating in their studies or
assessments to the best of their ability, under standard conditions. These factors may include a disability or
medical condition (e.g. mental illness, chronic illness, physical or sensory disability, learning disability), significant
caring responsibilities, pregnancy, religious practices, living in a remote location,or another reason. If you believe
you may be unfairly disadvantaged on these or other grounds please contact the appropriate service below. It is
important to note that the staff of the University may not be able to meet your needs if they are not informed of
your individual circumstances, so please get in touch with the appropriate service if you require assistance.
To discuss your needs in relation to:
Program calendar
Week Begin Date Lecture. Please note Tutorial (classroom Assessment Due/Notes
that textbook pre- tutes, collaborative
readings are required sessions or full
to enhance online)
understanding.
1. 24 July
Chapter 1: Globalization
and the Multinational
Firm