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FB445 – International Finance & Currency Markets

Master of Science in Financial Services

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Core Course

FB445 – International Finance & Currency Markets

Course Unit Code: FB445

Type Of Unit: Elective

Level of Course Unit: Second cycle

Year of Study: First / second year

Semester: On demand

Number of ECTS Credits: 6

Class Contact Hours: 28

Mode of Delivery

Face to Face

Prerequisites

None

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The main objective of this course is to provide students with a thorough understanding of international financial markets as well as the tools needed to grasp exchange rate determination, the impact it could have on a firm, as well as ways of hedging such risks.

Learning Outcomes

CILO 1 – Recognise the factors that affect exchange rates
CILO 2 – Recognise the five key parity relationships in international finance and how they can be used to forecast exchange rates
CILO 3 – Understand the international monetary system and the balance of payments
CILO 4 – Understand and measure country risk
CILO 5 – Describe the operation and mechanics of the foreign exchange market
CILO 6 – Describe how currency options, swaps, futures, and forwards can be used for hedging in currency markets
CILO 7 – Describe the measurement and management of translation, transaction, and economic exposure

Course Features

Planned learning activities and teaching methods
Lectures, in-class assignments, workshops, in-class debates, and discussions

Assessment methods and criteria
10% Class attendance and participation
20% Quizzes in Moodle
20% Case Workshops
50% Final exam

Language of Instruction
English

Work Placement(s)
Not applicable

Readings

Recommended textbooks:

  • Eun, C. S., Resnick, B. G., & Chuluun, T. (2021). International financial management. McGraw-Hill.
  • Alan C. Shapiro (2013) “Multinational Financial Management”, 10th edition. John Wiley & Sons Inc.
  • Moffett, Stonehill, and Eiteman (2015), “Fundamentals of Multinational Finance”, 5th edition, Pearson.

Other textbooks and materials

  • CFA Institute materials

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Informed Consent Form

Dear Participant,

You are invited to participate in a survey as part of the DiFiCy – Digital Transformation and FinTech: Shaping Cyprus’s Economy research project which is implemented by the University of Limassol, PwC Cyprus and Unity Growth Limited.

The project is co-funded by the European Union within the framework of the Cohesion Policy Programme “THALIA 2021-2027” through the Research and Innovation Foundation (RIF) in Cyprus [Pr. number: EXCELLENCE/0524/0568].

The study has been approved by the National Bioethics Committee of Cyprus (Approval no.: EEBK EΠ 2025.01.19 )

This project explores digital transformation and FinTech adoption in Cyprus, with a particular focus on SMEs and the broader business ecosystem. It uses a mixed-methods research design, combining survey data with interviews and case study evidence to generate evidence-based insights for policymakers and businesses.

Before deciding whether to participate, please read the following information carefully.

Purpose of Participation

The purpose of this research is to better understand the drivers, challenges, and impacts of digital transformation and FinTech adoption in Cyprus. The findings aim to support evidence-based policymaking, strengthen business practices, and contribute to innovation and economic development.

Your participation involves the following:

Completion of this survey, which takes approximately 15 minutes.

Invitation to take part in an optional interview.

Contribution to a case study or discussion session at a later stage.

Your participation is entirely voluntary, and you are free to decline or withdraw at any time without any consequences.

If you wish to withdraw from the study after submitting your responses, you may do so by contacting the Project Coordinator.

Data Confidentiality and Usage

All data collected will be handled in strict accordance with the General Data Protection Regulation (GDPR) and Cyprus Data Protection Law (125(I)/2018).

Your data will be treated confidentially, pseudonymised and anonymised, and no personally identifiable information will be disclosed. Data will be securely stored and accessed only by authorised members of the research team. In some cases, qualitative data may be processed using machine learning techniques, such as keyword identification or pattern detection, strictly to support analysis; however, all interpretation and conclusions will be made by the researchers.

Aggregated and anonymised findings derived from the data (e.g., statistical summaries, graphs, and thematic insights) may be used for dissemination activities, including scientific publications, policy reports, infographics, and training materials. These outputs will not contain any information that could directly or indirectly identify participants or their organisations.

Anonymised data may be shared publicly after a 24-month embargo period, while raw or sensitive data will not be publicly available. Access to raw or sensitive data will be granted only upon justified request and consortium approval.

Your participation in this study does not involve any risks.

On the contrary, your contribution may help improve digital and FinTech policies, support SME development and innovation strategies, and enhance the overall business environment in Cyprus.

Contact Information

If you have any questions, concerns, withdraw requests or complaints, please contact the Project Coordinator, Dr. Snezana Eminidou. Please include “DiFiCy Survey” in the subject line.

Email: snezana@uol.ac.cy

Phone number: +357 22462228

Partnership:

Thank you for your valuable contribution to this research.

The project is implemented under the programme of social cohesion “THALIA 2021-2027” co-funded by the European Union, through the Research and Innovation Foundation in Cyprus [Pr. no. EXCELLENCE/0524/0568]. The content reflects the views of the author(s) only. The European Commission and the Managing Authority of THALIA 2021–2027 cannot be held responsible for any use which may be made of the information contained therein.