finance syllabus

Országok listájaHungaryBudapesti Corvinus EgyetemGazdálkodástudományi KarNemzetközi gazdálkodás (angol nyelven)FinanceJegyzetekfinance syllabus

Syllabus
Finance
BA in International Business Year 1
2007/2008  Spring Term


Course code: base64 Department: Finance
Location of department: FQvám sq. 8.; r. 283
Phone number: (06-1) 482-5212
e-mail:  HYPERLINK "mailto:anita.gacsi@uni-corvinus.hu" anita.gacsi@uni-corvinus.hu;
dori.kocsis@uni-corvinus.hu
 HYPERLINK "http://www.uni-corvinus.hu/penzugy" www.uni-corvinus.hu/penzugy Course unit leader: Sági, Judit PhD, associate professor
Office number: n/a
Phone number: (06-1) 482-5212
e-mail address: sagi.judit@pszfb.bgf.hu Tutor(s): Novák, Zsuzsanna assistant professor
Office number: r. 287
Phone number: (06-1) 482-5249
e-mail address:zsuzsanna.novak2@uni-corvinus.hu Office hours: to be specified later
Besides, individual appointments can be made in advance for a time that better suits your convenience. Status: Core Contact hours: 2 (+ 1 seminar in every second week) Credits: – Prerequisites Venue: Time:

Aims and objectives
In accordance with the general disciplines of the B.A studies, this course in Finance is about to deliver basic understandings in relation with the role of money in the realisation of incomes, and in relation with the instruments and contemplating institutions within the flow of funds. This knowledge will be essential during the further courses in International Business.

Learning outcomes
Understanding of the initiatives for redistribution of incomes among the main economic sectors.
Ability to recognise the meaning of money functions within the changing economy.
Ability to give explanation of the appreciation (or depreciation) of the home currency against a foreign currency or a basket.
Ability to identify the basic components for state budgeting and explain the means of state debt financing.
Competence in understanding the list of instruments within bank operations and stock exchange deals.

Course description
During this course, university students are expected to gain some insight in the financial (monetary, FX rate and fiscal) policies, and within, the role of the financial intermediary system, the monetary authorities and the state treasury institutions.

Course schedule
1. week Basics for money: definition and role of the money (with a brief historical overview). Explanations for the inflation phenomenon The Flow of Funds approach
Seminar: Exercise 1. 2. week The money supply process and the demand for money 3. week The informative role of the Balance of Payments
Seminar: Exercise 2. 4. week Foreign exchange rate policies. The indicating role of effective exchange rate indices 5.week International FX rate (fixed, intermediate and floating) regimes
Seminar: Exercise 3. 6. week The monetary union (EMU). 7. week The policy role and the constitution of the State
Seminar: Exercise 4. 8. week State budgeting: budget accounts and classification system, commitment of funds and cash management 9. week State debt management (and within, the role of the State Treasury)
Seminar: Exercise 5. 10.week The tasks and financial resources of the regions and the municipalities 11. week The constitution of the two-tier banking system: the core functions of the central bank and the credit institutions
Seminar: Exercise 6. 12. week Bank activities: active, passive and neutral banking operations 13. week Securities’ markets: instruments, primary issue and secondary trading
Seminar: Exercise 7. 14. week Financial markets: instruments and rules for contracting. The Stock Exchange

Methodology
This subject (Finance) indicates the distinctive role of lectures, which will be carried in each week during the semester. Besides, in accordance with the sound need for students to obtain competence in understanding and evaluating the certain points of redistribution of incomes, further seminars will be given. In the seminars, the students are invited to participate in the discussions (following the exercises) and fill some tests.

Assignments
Written home assignments: students are expected to write 5 papers, one by one in the 5 topics given bellow:
Basics for money – Equilibrium on the money market – Flow of Funds
Foreign exchange rate – International FX rate regimes - The monetary union
The policy role of the State – Municipalities – State budgeting – State debt management
The two-tier banking system
Securities and financial markets
The paper should be a descriptive answer on the direct questions given by the lecturers (to be presented later). The extent of the papers is about 2 pages (3000-3500 characters) for each of the topics. The deadline is the last seminar week of the course.
Tests: in each seminar, there will be short tests in written form.
Oral exam: At the end of the semester, an oral exam completes the course.


Assessment and grading
The final mark will be composed of (i) the written home assignments, (ii) the tests and (iii) the students’ class contribution (participation in the discussions to be held on the seminars).

Grades will be given according to the following pattern:
Tests: 40% Written home assignments: 50% Class contribution: 10% 100%
If someone misses the deadline for the written home assignments, and/or fails to achieve a total of 50%, then he (or she) has to pass an oral exam at the end of the semester, during the exam period. If someone is unsatisfied with his (or her) performance within the semester, then he (or she) has the chance to pass an oral exam with the same conditions.

Grading: the points (percentages) corresponding to marks from 1-5.
0-50% fail 51-62% pass 63-74% satisfactory 75-86% good 87-100% excellent

Course policies
Students are invited for compulsory attendance on the lectures and seminars.


Compulsory readings

Kohn, Meir: Financial Institutions and Markets (ISBN13: 9780195134728 ISBN10: 0195134729)
(Oxford University Press, 2003.), selected chapters
Joseph E. Stiglitz: Economics of the Public Sector: Third Edition (W.W. Norton & Company, February 2000.), selected chapters

Handouts: to be given later, at the beginning of the semester.

Recommended readings – all available in the Library of Budapest Corvinus University
(Note: these are recommended, and you cannot require students to read them, and these may not form part of the assessment.)

Lloyd B., Thomas: Money, banking and financial markets (Mason: Thomson/South-Western, 2005.)
Smith, Gary: Money, Banking and Financial Intermediation (D. C. Heath and Company Lexington 1991)
 HYPERLINK "http://webopac.lib.uni-corvinus.hu/cgi-bin/w21hu.sh?session=1034028037&infile=authk.glue&style=authk&nh=20&calling_page=hitlist.glu&key=7570" Fraser, Robert : The world financial system, London, GB [etc.] : Longman, 1987










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