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Module Title
LM Foreign Exchange Markets
School
Birmingham Business School
Department
Economics
Module Code
08 11669
Module Lead
Mr. Nick Horsewood and Prof. Somnath Sen
Level
Masters Level
Credits
20
Semester
Semester 1
Pre-requisites
Co-requisites
Restrictions
Available to MSc (Int Money & Banking)
Exclusions
none
Description
The module examines markets for foreign exchange and other foreign financial assets. Some of the topics covered are: the balance of payments, interest rate parity, purchasing power parity, forward markets, empirical analysis of exchange rate determination, international capital flows and their effects, exchange rate policy, currency crises.
Learning Outcomes
On completion of this module the student will be able to:
demonstrate comprehensive knowledge and understanding of the theories of exchange rates and their empirical relevance;
identify and analyse mechanisms for managing risk in foreign exchange markets;
critically evaluate key policy issues to be faced with regard to the exchange rate;
critically appraise topical issues in foreign exchange market such as currency crises, the impact of foreign direct and portfolio investment, and the European Monetary Union;
analyse data using a standard econometric software package to test theory.
Assessment
11669-02 : Written exam : Exam (Centrally Timetabled) - Written Unseen (50%)
11669-05 : 1,250 word individual assignment : Coursework (25%)
11669-11 : Computer Project : Coursework (25%)
Assessment Methods & Exceptions
Assessment: 1,250 word individual assignment (25%) & computer based project (25%) & 2 hour exam (50%) Re-assessment: Students only resit the failed component
Other
none
Reading List
Copeland L, Exchange Rates & International Finance (3rd edn), 2000
Pilbeam K, International Finance (2nd edn), 1998