"International Finance" is one of the core courses in finance and the main courses of finance and economics determined by the Ministry of Education. "International Finance" is also a general study for various majors in colleges and universities with basic, comprehensive, professional, practical and other characteristics.

    Through coordination in teaching content selection, teaching schedule, teaching methods and teacher-student interaction, etc., the course can meet the professional needs of students in finance, economics, and management. It can also reach the primary and comprehensive demand for other types of students. Therefore, the course is convenient for the cultivation of students' full qualities and meets the practical needs of the public.

    The course "International Finance" mainly studies the currency and financial relations and macroeconomic relations between countries under an open economy. It focuses on real world economic and financial issues, such as imbalances in international payments and their adjustment, exchange rate movements and their causes, and the operation of the international monetary system.

    This course mainly includes nine aspects: balance of payments, foreign exchange market, foreign exchange management and exchange rate system, international reserves, international financial markets, international financial risk management, international capital flows, international monetary system and international financial institutions.

    Moreover, this course is going to focus on the introduction of international balance of payments theory and policy, exchange rate determination theory and regulation, the evaluation and selection of exchange rate system advantages and disadvantages, international reserve composition and management, international financial market transactions and risk management, etc.

    Through studying the course, you can master the basic knowledge and principles of international finance, and use them to analyze the real world and many specific problems that occur around us.

    For example, what does the long-term "double surplus" of China's balance of payments mean after entering the 21st century?

    Will this situation affect each of us?    

    Is there any way to solve these problems?

    How does the foreign exchange market work?

    What factors will affect the exchange rate changes?

    How should we analyze these factors and effectively participate in foreign exchange market transactions?

    What are the different types of exchange rate systems in countries around the world?

    What are the advantages and disadvantages of these different types of exchange rate systems?

    Will these foreign exchange systems affect our lives and work?

    How does the size of foreign exchange reserves affect a country or even ordinary consumers?

    In addition to participating in foreign exchange market transactions, what new financial instruments can we practice?

    What are their risks, and how can they be prevented?

    We have carefully designed the appropriate amount of exercises for each lecture in and after the course, so that you can check your learning effect, help you pass the final course exam, and you can also get a certificate for this course. In the explanation, we combine scientificity, systemness with popularity and interest. The content of the course is profound, and the language is easy to understand. I hope that you who want to understand international finance can benefit from this course.

    The earth is flat, and "International Finance" is your window into the open world!

    This course provides an overview of international finance issues. Topics cover international balance of payment, theories of foreign exchange transaction, types of foreign rate system, international reserves, and foreign exchange risk management. This course is a core subject in Hunan Univ’s undergraduate finance. Students will also be introduced to the use of international finance applications to address problems in current economic policy throughout the semester.

Prerequisites:

Principles of Macroeconomics/Microeconomics

Introductory Financial Accounting

Introduction to Statistical Methods in Economics

[1] IMF. Balance of Payments and International Investment Position Manual, 6th Edition, China Financial Publishing House, 2009.

[2] China State Administration of Foreign Exchange. China's Balance of Payments Report, various years.

[3] Keith Pilbeam. International Finance (3rd edition)，Palgrave Macmillan，2006.

[4] IMF. "Annual Report on Exchange Arrangements and Exchange Restrictions" for each year.

[5] People's Bank of China. RMB Internationalization Report. 2015.

[6] Wu Zhiming. The scale of China's foreign exchange reserves under an open economy. Changsha: Hunan University Press, 2012.

[7] Yang Shenggang, Yao Xiaoyi. International Finance (Fourth Edition). Beijing: Higher Education Press, 2016.

[8] State Administration of Foreign Exchange. "China's External Debt Flows and National Economy of 1985-2015 , Foreign Exchange Income", 2016.

[9] Paul Krugman. International Economics (6th Edition). Beijing: Renmin University of China Press. 2008.

[10] Lawrence. S. Copeland. Exchange Rate and International Finance (3rd Edition). Beijing: China Financial Publishing House. 2002.