INSTRUCTORS:
Ngo Minh Vu
Assoc.Prof, University of Economics Ho Chi Minh CityInternational Finance examines financial markets, institutions, prices and risks arising from the movement of capital across national borders. The course develops an integrated framework for understanding the international monetary system, balance of payments and capital flows, foreign exchange markets, exchange-rate determination, international financial markets, and international portfolio investment. Particular emphasis is placed on identifying and measuring foreign-exchange and related international financial risks before evaluating the instruments available to manage them, including forwards, futures, options, swaps and money-market hedges. The course combines conceptual foundations, quantitative analysis, market data and applied cases so that students can interpret developments in global financial markets and make informed risk-management and hedging decisions.
Session 1. International Financial System and Exchange-Rate Regimes
Session 2. Balance of Payments and International Capital Flows
Session 3. The Foreign Exchange Market
Session 4. Parity Conditions, Exchange-Rate Determination and Forecasting
Session 5. International Financial Risks and Foreign-Exchange Exposure
Session 6. Managing FX Risk: Hedging Instruments and Strategies
Session 7. International Money, Bond and Equity Markets
Session 8. International Portfolio Investment and Risk Diversification
Session 9. Currency Crises, Capital-Flow Reversals and Global Financial Risk
Session 10. Review and Integration
| Component | Weight | Mode | Timing |
|---|---|---|---|
| Mid-term examination | 35% | Individual | After Session 6 |
| Participant | 15% | Individual | Every session |
| Final capstone assignment: International Financial Product for VIFC-HCMC | 50% | Group | End of course / assessment period |
Core textbook
Eun, C. S., Resnick, B. G., & Chuluun, T. (2021). International Financial Management (9th ed.). McGraw-Hill.
The course uses the textbook selectively. Chapters 1–15 provide the principal foundation; the later multinational-firm chapters are generally optional unless assigned for a specific application.
Recommended supplementary texts
- Bekaert, G., & Hodrick, R. International Financial Management (3rd ed.). Cambridge University Press.
- Pilbeam, K. International Finance (5th ed.). Palgrave Macmillan.
- Sercu, P. International Finance: Theory into Practice. Princeton University Press.
Market and policy sources - Bank for International Settlements (BIS): foreign-exchange market structure, global liquidity, banking and derivatives statistics.
- International Monetary Fund (IMF): balance of payments, exchange-rate arrangements, external-sector analysis and country reports.
- World Bank and central-bank databases for macroeconomic and financial indicators.
- Financial press and market commentary (e.g., Financial Times, Reuters, Bloomberg, The Economist) for current-event applications where access is available
