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| GEST1051-1 | International finance | |||||||||||
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| Duration : | 30h Th | |||||||||||
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| Holder(s) : | Danielle Sougné | |||||||||||
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| Course contents : | Chapter 1 Introduction Chapter 2 Futures Markets 2.1. Exchanges and types of Futures 2.2. Purposes of Futures Markets 2.3. Regulation of Futures Markets 2.4. Brokers, Advisors, and Commodity Fund Managers 2.5. Questions and Problems Chapter 3 Futures Prices 3.1. reading Futures Prices 3.2. The Basis and Spreads 3.3. Futures Prices and expectations 3.4. Futures Prices and Risk Aversion 3.5. Questions and Problems Chapter 4 Using Markets 4.1. Speculation 4.2. Hedging 4.3. Questions and problems Chapter 5 Interest Rate Futurs/ Introduction 5.1 Short Maturity Interest rate Future Contracts 5.2. Longer Maturity Interest rate Futurse 5.3 Pricing Interest Rate Futures Contracts 5.4. Speculating with Interest Rate Futures 5.5. Hedging with Interest Rate Futures 5.6. Questions and Problems Chapter 6 Foreign Currency Futures 6.1. Price Quotations 6.2. Geographical and Cross-Rate Arbitragee Quotations 6.3. Speculation in Foreign Exchange Futures 6.4. Hedging with Foreign Exchange Futures 6.5. Questions and Problems Chapter 7 The Options Market 7.1. Why trade options ? 7.2. The option contract 7.3. The option market 7.4. Margins 7.5. Option Payoffs and option strategies 7.6. Option sensitivities and option hedging 7.7. Options on stock indexes, foreign currency and futures 7.8. Exotic options 7.9. Interest Rate Options Chapter 8. the Swap Market : Introduction 8.1. pricing of Swaps 8.2. Swap Portofolios 8.3. Swaptions 8.4. Applications 8.5. Questions and Problems | |||||||||||
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| Course objective : | To understand to threee most important types of financial derivatives : futures, optins and swops. these hree types of derivatives are linked by a common pricing framework, the proposition that rational prices preclude arbitrage profits. To emphasize the use of futures, options and swaps management | |||||||||||
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| Prerequisites : | FIN 505 Accounting & Finance FIN 405 Financial Economy | |||||||||||
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| Organization : | Theoretical presentations and exercises on all chapters seen in class. The course requires the active involvement of students (interactivity) through the use of examples and exercises discussed in class | |||||||||||
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| Written notes : | - BELLALAH M., SIMON Y., "Options, contrats à terme et gestion des risques, analyse, évaluation et stratégies", Economica, 2000. - SIMON Y., LAUTIER D., "Finance internationale et gestion des risques, Economica, 2001. | |||||||||||
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| Assessment : | 1st session assessment :oral examination 2nd session assessment : oral examination Prolonged 2nd session assessment : oral examination | |||||||||||
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| Contacts : | SOUGNE Danielle HEC-Ecole de Gestion de l'ULg Rue Louvrex, 14 4000 Liège Tél : +32 4 2327211 Email : Danielle.Sougne@ulg.ac.be | |||||||||||
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ULg : Students and Studies Administration - Academic Affairs
Contact : Monique Marcourt, direction A.E.E.
Date of data : 27/02/2006
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