Module Title: International Finance: Module Handbook 2020/21 Module Code: BMG704 (86968)

Module Title: International Finance
Module Handbook 2020/21

Module Code: BMG704 (86968)
Course/s: MSc International Business
Department of Global Business and Enterprise
Ulster University Business School
Philiph Pryce
Module Coordinator
Email: [email protected]
Office Hours: Online via email

BMG704 International Finance
Table of Contents
Welcome ....................................................................................................................................... 3
1. Module Overview and Communication................................................................................. 4
2. Aim & Learning Outcomes .................................................................................................... 5
3. Assessment and Feedback .................................................................................................... 6
Coursework 1 ........................................................................................................................ 6
Coursework 2 ........................................................................................................................ 7
Standard Assessment Guidance ............................................................................................. 9
Coursework 1 & 2 Assessment Rubric / Marking Proforma .................................................... 10
4. Learning Resources ............................................................................................................. 11
Library’s Support Services .................................................................................................... 12
Blackboard Learn Student Orientation Course ...................................................................... 12
5. Organisation and Management .......................................................................................... 13
6. Learning and Teaching Methods ......................................................................................... 13
Teaching and Learning Plan ................................................................................................. 15
7. Student Voice & Support Services ....................................................................................... 29
UUSU Advice Bureau Service ................................................................................................ 29
UU Student Wellbeing Service .............................................................................................. 30
Academic Year 2020/21 - Semester I Page 2 of 30

Welcome
Welcome,
This module provides students with an introduction to financial management theory and techniques
required for entrepreneurship and managerial decision making within an international business
context.
Kind regards,
Module Coordinator
May 2021

1. Module Overview and Communication
Module Details
Module Title International Finance
Module Code BMG704 Module Level 7
Credit points 15-60 Module Status Core
Semesters 1 Location London/Birmingham
E-learning Online/Blended
Contact Details and Communication Methods
Module Coordinator Philiph Pryce (See cover sheet for contact details)
Philiph Pryce ([email protected])

Emanuel Musa ([email protected])
Muhammad Ateeb ([email protected])
Chau Duong ([email protected])
Teaching Staff Bibi Ozen ([email protected])
Contact Details Ovinda Wijeyaratne [email protected]
Julius Ejechi ([email protected])
Muhammad Khurram-Butt [email protected]
Kathirithamby Sivanandan [email protected]
Virtual Office Hours: by email
If you require advice or guidance on any aspect of the module, please
read the guidance provided here , in the Module Handbook.
For ‘General Queries’, please utilise the class Discussion Board. For
specific queries or studies advice, you can avail of the ‘Virtual Office
Hours’. Contact any member of the teaching team by email to arrange a
General suitable appointment. Please note, we aim to respond to all queries within
Information, Queries
and Consultations 24 hours.
Key announcements will be presented during tutor-led activities.
Out of class communication including notifications, reminders, etc will be
distributed via the Blackboard Announcement tool. You will receive a
duplication of the announcement direct to your student email inbox.
Module It also advisable that you download the ‘Blackboard’ App as an alternative
Announcements
to access these announcements, notifications, reminders as well as
content.

2. Aim & Learning Outcomes
Module Rationale
Businesses now operate in a highly globalised and competitive market where
access to, and control of, finances are necessary for survival. This module
focuses on the international financial management techniques essential
throughout the business life cycle. The module provides a broad overview of
international financial management theory and practices which are imperative to
creating and sustaining a successful international business venture. The module
probes the financial landscape in which modern day international businesses
operate.
Overall Aim of the Module

The module provides students with and introduction to financial management theory
and techniques required for entrepreneurship and managerial decision-making within
an international business context.
Learning Outcomes
What you should be able to do by the end of this module.
Successful participants will be able to:
 Learning Outcome 1
Demonstrate a comprehensive knowledge and critical appreciation of the key concepts
and topical issues of International Finance.
Act autonomously in the analysis of new and/or abstract data using a range of
techniques appropriate to the discipline of International Finance, synthesising evidence
and critically evaluating complex problems in International Finance.
Be proactive in leadership, work effectively within a team or group as appropriate, make
and sustain arguments/alternative points of view related to the discipline of International
Finance.
Demonstrate confidence and flexibility in critically evaluating complex problems and the
application of appropriate knowledge, tools or methods to their solutions in the context of
International Finance. Be confident in the application of their own judgement.

3. Assessment and Feedback
What you need to do to demonstrate achievement of learning.
This module will be assessed via two items of assessment

Assessment Type Weighting (%)
Coursework 1 Preparation/submission of an individual report. Week 9 60%
Coursework 2 Online tests comprising up to 40 questions. Week 13 40%
Coursework 1
Assessment Task
You are required to prepare/submit an individual report discussing the following:
Choose a Multinational Enterprise (MNE) listed on an internationally

recognised Stock Exchange (including for example, London, Dublin, New York or Paris).
You are required to:
a. Critically discuss two recent developments in the international financial environment
which appear to have impacted on your chosen company’s recent performance and
development. Analyse how these two developments are likely to impact on the
company in the near future. (14 marks)
b. Discuss the following key elements of the MNE’s international financial and/or risk
management strategy (and how they appear to have affected the financial
performance of your chosen company):
 Sources of finance
 Dividend policy (14 marks)
c. With reference to your chosen Multinational Enterprise (and using the most recent
annual report published), analyse the financial performance (in terms of profitability,
liquidity, efficiency and investment) of the company in the two most recent
consecutive financial periods (e.g. 2018/19 or 2019/20, ) using 8 different accounting
ratios (prior year comparative figures will be available in the annual report).
(32 marks)
Notes:
(i) You must advise your tutor of your chosen multinational enterprise to ensure
suitability for use and avoid duplication;

(ii) It is advisable to choose your multinational enterprise and download the most
recent annual report by the end of week 1 – this will facilitate your preparation and
allow you to effectively participate in weekly class activities;
Assessment Guidelines
1) The assignment may take the form of an individual written word-processed briefing report of
not more than 2500 words, including title page, contents page, in-text references and citations,
but excluding tables, reference list and appendices.
2) Detailed guidance will be given in the tutorials in weeks 1 and 6 to explore the factors for your
chosen case study and provide advice on the use of mediums/technologies for this assessment
exercise.
3) This element of coursework accounts for 60% of the overall assessment. Students should refer
to the marking criteria attached to provide them with fuller details of marking criteri a for each
classification band.
4) Completed assignments must be submitted via Turnitin by 12.00 noon on Sunday of week 9 in
semester 1. This date and time is final, and a late submission will be penalised by the
deduction of marks.
5) All submitted assignments should have the file name:
BMG704 (86968) Student B00xxxxxx
6) View additional ‘Standard Assessment Guidance,’ for further guidance applicable to all
coursework elements.
Coursework 1 FEEDBACK
Feedback on the assessment will be provided via Blackboard within three weeks of the submission
date.
Coursework 2
Online activities will comprise of 40 questions which students are required to answer.
ENTER THE ASSESSMENT TASK HERE

Assessment Guidelines
1) The online tests will comprise a series of up to 40 multiple choice questions on the following
topics - Financial Statements/Ratio analysis/EMH/CAPM/Cost of Capital/Capital
Structure/Investment Appraisal/Foreign Currency Risk Management.
2) The questions take a variety of formats, including: calculations (calculator is required),
true/false statements; yes/no answers and/or other short answers. The online assessment is
broken down into 3 different online quizzes, each of differing question contents and time
allocations. Time allocation is up to 3 minutes per question.
3) Detailed guidance will be given in the tutorials in weeks 1 to 12 to explore the course
concepts/ideas and topics for each online quiz.
4) This element of coursework accounts for 40% of the overall assessment. Students should refer
to the marking criteria attached to provide them with fuller details of marking criteria for each
classification band.
5) Completed assignments must be submitted via Blackboard Learn by 12.00 midnight in week 12,
of Semester. This date and time is final, and a late submission will be penali sed by the
deduction of marks.
6) View additional ‘Standard Assessment Guidance,’ for further guidance applicable to all
coursework elements.
Coursework 2 FEEDBACK
Feedback on the assessment will be provided via Blackboard within three weeks of the submission
date).

Standard Assessment Guidance
The following guidance is applicable to all coursework items.

1) Marks are awarded for content, quality of discussion and effective use of referencing where
appropriate. To achieve high marks, students will be expected to demonstrate a familiarity with
the wider literature in the subject area, and not merely an ability to re -produce the lecture
notes. Higher marks will also be awarded to students who provide strong evidence of analysis
and critical evaluation of the various concepts and techniques identified and their application to
real world situations.
2) Written work should include references to journal articles and other relevant publications, and
should be properly laid out using the Harvard system of refere ncing as indicated below:
Buzzell R., (1968) ‘Can you standardise multinational marketing’, Harvard Business Review,
(Nov-Dec) 46, pp102-113.
Jeannet J.P. and Hennessey H.D., (2004) Global Marketing Strategies. 6th ed. Houghton Mifflin.
More detailed guidance is available in the ‘Guide to Referencing in the Harvard Style’. We
encourage you to avail of the Academic Support via the Library’s Support Service , further details
in the Library Support Services Section.
3) Marks will be deducted for incomplete or inaccurate referencing.

4) Students may make multiple submissions in advance of the due date to
receive feedback via Turnitin on their academic writing style (similarity
score) and any potential plagiarism issues. A similarity score of less than
20% is acceptable.
5) Students must adhere to the word limit policy so as to avoid penalties
as follows:
+10% - no penalty
+>10% - 20% - 5% penalty
+>20% - 30% - 10% penalty
+>30% - 40% - 15% penalty
+>40% - 50% - 20% penalty
+>50% - maximum mark of 40

Coursework 1 & 2 Assessment Rubric / Marking Proforma

To aid student understanding, the rubric/marking proforma applies in the module as follows:
Command word Question type
Explain Candidates must be able to provide definitions,
explanations and application of key business terms in
the specifications giving examples from the case
study, if appropriate.
Calculate Candidates must be able to undertake calculations,

manipulate financial data and interpret, apply to case
study and analyse information in written, graphical
and numerical forms within the case study.
Candidates must be able to prepare/draft charts,

Construct
diagrams or other pictorial aids as required if
appropriate.
Analyse/Discuss Candidates must be able to interpret, apply, and

analyse and evaluate information from written,
graphical and numerical forms.
Evaluate Candidates must be able to interpret, apply, analyse

and evaluate information from written, graphical and
numerical forms.

4. Learning Resources
I know reading intrudes on your social life, but reading is a major part of your degree.
Reading List
Books Required (Must read)
Bekaert, G. J., & Hodrick, R.J., (2014), International Financial Management, 2nd Ed.,
Pearson, London. ISBN-10: 129202139X (also available as e-book)
Jacque, L. (2014) International corporate finance. London: Wiley. ISBN 1-118-78186-4
(also available as e-book)
Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice. 9th ed., London:
Cengage. ISBN 1-408-07989-5 (also available as e-book)
Books Recommended (Should read/ Could read)
Alexander, D. Britton, A., et al., (2017) International financial reporting and analysis. 7th ed.
London: Cengage. ISBN 978-1-473-72545-4
Alexander, D., and Nobes, C. (2016), Financial accounting –an international introduction.
6th edition. Harlow: Pearson Education. ISBN 978-1-299283-46-6 (also available as e-
book)
Atrill, P., & Mc Laney E. (2017) Accounting and finance for non-specialists. 10th Edition.
Harlow: FT Prentice Hall. ISBN 9781292135601 (also available as e-book)
Bender, R. (2013) Corporate financial strategy, 4th ed. London: Routledge. ISBN 0-415-
64041-5 (also available as e-book)
Eiteman, D.K., et al., (2016), Multinational Business Finance, 14th Ed., Pearson, London,
ISBN-10: 1292097876
Hill, C. W. L. (2017) International business. 11th ed. New York: Pearson. ISBN
9781260084153
Pilbeam, K. (2013) International finance. 4th ed. Basingstoke: Palgrave Macmillan. ISBN
978-1-137116-37-6.
Ward, A. M. (2014) Finance: theory and practice. 3rd ed. Dublin: Chartered Accountants
Ireland. ISBN 978-1-908199-48-5
Watson, D. & Head, A. (2016) Corporate finance 7th ed. New York: Pearson. (also available
as e-book)
Useful Journals
International Business Review
Journal of International Business Studies (12 month full-text embargo)
Journal of World Business
Harvard Business Review
International Small Business Journal
Useful Library Databases & Websites
Nexis (for news, business & company information)
LexisLibrary (for legal/regulatory, accounting and taxation)
Business Week (www.businessweek.com )
Financial Times (www.ft.com )
International Monetary Fund www.imf.org/
International Financial Reporting Standards www.ifrs.org/

QA Library’s Support Services
QA Library website.
QA’s library website is a great place to start your research. This site brings together the resources
provided by Ulster University library and the resources provided by QAHE library. Everything you
need is in one place!
 The Ulster University page includes links to databases, ebook collections, open access
sources, referencing, and much more.
 The Homepage contains information on research skills, extracting information from
textbooks and accessible learning recommendations.
 The contact us page contains a live chat box so you can ask questions and receive
immediate answers from a librarian. You can also book one-to-one sessions or join the
regular ‘online hangout with a librarian’. There are lots of ways to ask for help with your
research!
SCONUL
Ulster University is part of the SCONUL network. This allows students to visit other university
libraries and use their books. If you’d like to do this, contact QA Library and we will arrange SCONUL
membership for you.
Studiosity
Ulster University subscribes to Studiosity, which enables students to receive feedback on draft
assignments. Simply upload your draft, select the type of feedback you want (eg grammar,
referencing etc), and submit. Feedback will be provided within 24 hours.
Library’s Support Services

In collaboration with teaching staff, your Business Librarian will be delivering timetabled workshops
to ensure you are able to make the best use of the Library’s services and information resources in
successfully completing your coursework. Furthermore, if you need specific help with an
assignment or dissertation then you can make an appointment to meet with your
Business Librarian by email, phone or through using the appointments schedule.
Online support is also available through the Library’s subject pages for Business and
Management and these provide help in developing your information and
research skills through literature searching , academic writing support and
referencing.
Blackboard Learn Student Orientation Course

It is highly recommended that you complete the above online course to get familiar with Ulster’s
Virtual Learning Platform, Blackboard Learn. The course is accessible from your ‘Course List’ in your
Blackboard Area.

5. Organisation and Management
These are the types of learning activities that will make up your weekly timetable.
International Finance, is a 20-credit point module, this requires 200 hours of your
commitment, distributed through the following learning and teaching activities over
the 15-week semester:
Activity Duration Total Hours

Multi-Media Lecture & Class Activities 1.5 hour 18
Online Tutorial 1.5 hour 18
Independent Study – Assigned reading and note-taking 5 hours 60
Independent Study – Assessment Activities & Tutorial Preparation 8.5 hours 104
TOTAL 200
6. Learning and Teaching Methods
These are the type of learning activities you will experience in this module.
The module is delivered fully online and will be facilitated through the
provision of the following learning and teaching activities:

Lectures one hour and thirty minutes utilising live WebEx sessions and
recorded session videos will be sent to you after the lecture.
 Seminar: one hour and thirty minutes via WebEx including individual/
groupwork activities
 Discussion Board: These will be utilised to continue in-class
discussions and/or discussion of new set topics. Blackboard Learn, Discussion Board Tool will be
utilised.
 Online Resources: These will be an integral part of the delivery. See the library reading list
below which is also accessible via Blackboard Learn. You will be directed to academic,
professional and open content resources to extend your knowledge, understanding and
application.

 Independent Study: Utilise this time to prepare for tutorials/seminars and research your
assessment tasks.
 Electronic Assessment: TurnItIn Feedback Studio and/or Blackboard Learn Assessments will
enable assessment information submission and feedback delivery.
Blackboard Learning Support

If you require help or support with any of the digital learning tools, please view
Ulster’s Blackboard Student Support area.

Teaching and Learning Plan
Week / Curriculum Content Independent/Directed Study, includes: Required Reading, Tutorial
L&T Methods / preparation, and/or Assessment Preparation
Topic Title
Wk 1 Lecture Learning Objectives: Independent Study 11 Hours

Directed Learning Activities 3 Hours
Lecture Title – Introduction to the  Understand the nature of the financial Reading:
Global Financial Environment environment and international Bekaert, G. J., & Hodrick, R.J., (2016), International Financial Management, 2 nd
influences Ed. (pp. 19-50)
 Understand key aspects of the financial Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice. 9th Ed.,
statements and position of a MNE Cengage. London. ISBN 1-408-07989-5 (Chap 1; pp. 2-11)
 Consider key issues in report writing Jacque, L., (2014), International Corporate Finance. 1st Ed., Wiley. London. ISBN
Content: 1-118-78186-4 (Chap 1; pp. 1-11)
Module Welcome:
Introductions and Student Voice – Expectations
of the module
Overview of Module Handbook
Overview of the Blackboard Area
 nature of the financial environment and

international influences
 key aspects of the financial statements
and position of a MNE
 key issues in report writing

Wk 1 Tutorial Tutorial Topic/Task: Reading:

Bekaert, G. J., & Hodrick, R.J., (2016), International Financial Management, 2nd
 Understand the nature of the financial Ed. (pp. 19-50)
environment and international Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice. 9 th Ed.,
influences Cengage. London. ISBN 1-408-07989-5 (Chap 1; pp. 2-11)
 Understand key aspects of the financial Jacque, L., (2014), International Corporate Finance. 1st Ed., Wiley. London. ISBN
statements and position of a MNE 1-118-78186-4 (Chap 1; pp. 1-11)
 Consider key issues in report writing
Content: Student User Guide – Blackboard Learn
Module Welcome:
Introductions and Student Voice – Expectations
of the module
Overview of Module Handbook
Overview of the Blackboard Area
 nature of the financial environment and

international influences
 key aspects of the financial statements
and position of a MNE
 key issues in report writing
Wk 2 Lecture – Analysis of Learning Objectives: Independent Study 11 Hours

MNE’s Financial Position in a Directed Learning Activities 3 Hours
Global Context  Understand the nature of financial Reading:
decisions and the decision making Bekaert, G. J., & Hodrick, R.J., (2016), International Financial Management, 2 nd
process Ed. (pp. 19-50)
Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice. 9 th Ed.,
 Understand the international issues
Cengage. London. ISBN 1-408-07989-5 (Chap 1; pp. 2-11)
affecting international corporate finance
Jacque, L., (2014), International Corporate Finance. 1st Ed., Wiley. London. ISBN
 Explain key aspects of the financial 1-118-78186-4 (Chap 1; pp. 1-11)
position of a multinational enterprise

using financial statements and ratio

analysis
Content:
 nature of financial decisions and the

decision making process
 international issues affecting

international corporate finance
 key aspects of the financial position of a

multinational enterprise using financial
statements and ratio analysis

Bekaert, G. J., & Hodrick, R.J., (2016), International Financial Management, 2 nd
 Understand the nature of financial Ed. (pp. 19-50)
decisions and the decision making Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice. 9 th Ed.,
process Cengage. London. ISBN 1-408-07989-5 (Chap 1; pp. 2-11)
 Understand the international issues
1-118-78186-4 (Chap 1; pp. 1-11)
affecting international corporate finance
 Explain key aspects of the financial

position of a multinational enterprise
using financial statements and ratio
analysis
Content:
 nature of financial decisions and the

decision making process

international corporate finance

 key aspects of the financial position of a

multinational enterprise using financial
statements and ratio analysis
Wk 3 Lecture – Financial Learning Objectives: Independent Study 11 Hours

Decision Making and  Understand the importance of Directed Learning Activities 3 Hours
International Issues financial decision making; analyse Reading:
and evaluate the financial position ofBekaert, G. J., & Hodrick, R.J., (2016), International Financial
a multinational enterprise using ratioManagement, 2nd Ed. (pp. 497-540; pp. 641-660)
analysis Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chap 2; pp. 12-
 Appreciate the nature of wealth 22)
maximisation Jacque, L., (2014), International Corporate Finance. 1st Ed., Wiley.
 Analyse the international issues London. ISBN 1-118-78186-4 (Chap 1; pp. 12-18) nd
affecting multinational financing Ward, A.M., (2014), Finance: Theory and Practice, 2 Ed., CAI,
Ireland (Chap 3; pp. 55 - 97)
Content:
 financial decision making; analyse Session notes/powerpoints as appropriate.
and evaluate the financial position of
a multinational enterprise using ratio
analysis
 nature of wealth maximisation

multinational financing

Wk 3 Tutorial Tutorial Topic/Task: Reading

 Understand the importance of financial Bekaert, G. J., & Hodrick, R.J., (2016), International Financial Management, 2 nd
decision making; analyse and evaluate Ed. (pp. 497-540; pp. 641-660)
the financial position of a multinational Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice. 9 th Ed.,
enterprise using ratio analysis Cengage. London. ISBN 1-408-07989-5 (Chap 2; pp. 12-22)
 Appreciate the nature of wealth 1-118-78186-4 (Chap 1; pp. 12-18)
maximisation Ward, A.M., (2014), Finance: Theory and Practice, 2nd Ed., CAI, Ireland (Chap 3;
pp. 55 - 97)
 Analyse the international issues affecting
Session notes/powerpoints as appropriate.
Content:
 financial decision making; analyse and
evaluate the financial position of a
multinational enterprise using ratio
analysis
 nature of wealth maximisation

Wk 4 Lecture – Dividend Learning Objectives: Independent Study 11 Hours
Decision  Appreciate the importance of the Directed Learning Activities 3 Hours
dividend decision Reading:
 Understand the impact of dividend Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
policy 9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chap 21; pp. 519-
532)
Content: Session notes/powerpoints & supporting learning materials/articles (as
 the dividend decision appropriate).
 the impact of dividend policy

Wk 4 Tutorial Tutorial Topic/Task: Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
 Appreciate the importance of the 9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chap 21; pp. 519-
dividend decision 532)
 Understand the impact of dividend Session notes/powerpoints & supporting learning materials/articles (as
policy appropriate).
Content:
 the dividend decision
 the impact of dividend policy
Wk 5 Lecture – Capital Structure Learning Objectives: Independent Study 11 Hours

 Understand the significance of an Directed Learning Activities 3 Hours
optimal capital structure Reading:
 Appreciate the issues affecting Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
capital structure in a complex world 9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chaps 18-19; pp.
428-485)
Content: Jacque, L., (2014), International Corporate Finance. 1st Ed., Wiley.
 capital structure London. ISBN 1-118-78186-4 (Chap 8, pp. 285-286; Chap 12;
 issues affecting capital structure in app. 365-366)
complex world Session notes/powerpoints & supporting learning materials/articles (as
appropriate).

 Understand the significance of an Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
optimal capital structure 9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chaps 18-19; pp.
 Appreciate the issues affecting 428-485)
capital structure in a complex world Jacque, L., (2014), International Corporate Finance. 1st Ed., Wiley.
Content: London. ISBN 1-118-78186-4 (Chap 8, pp. 285-286; Chap 12;
 capital structure pp. 365-366)
 issues affecting capital structure in aSession notes/powerpoints & supporting learning materials/articles (as
complex world appropriate).

Wk 6 Lecture – Cost of Capital Learning Objectives: Independent Study 11 Hours

 Understand the nature of the Directed Learning Activities 3 Hours
financing decision in context of global Reading:
equity markets Bekaert, G. J., & Hodrick, R.J., (2016), International Financial
 Understand the concept of an Management, 2nd Ed. (pp. 369-413)
international cost of capital and Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
expected return 9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chap 16; pp. 372-
 Understand the issues related to 408)
sourcing equity globally Jacque, L., (2014), International Corporate Finance. 1st Ed., Wiley.
 Understand the nature of capital London. ISBN 1-118-78186-4 (Chap 9; pp. 274-286; Chap 12;
market structure pp. 364)
 the financing decision in context of appropriate).
global equity markets
 cost of capital and expected return
 sourcing equity globally
 nature of capital market structure
 Understand the nature of the Bekaert, G. J., & Hodrick, R.J., (2016), International Financial
financing decision in context of global Management, 2nd Ed. (pp. 369-413)
equity markets Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
 Understand the concept of an 9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chap 16; pp. 372-
international cost of capital and 408)
expected return Jacque, L., (2014), International Corporate Finance. 1st Ed., Wiley.
 Understand the issues related to London. ISBN 1-118-78186-4 (Chap 9; pp. 274-286; Chap 12;
sourcing equity globally pp. 364)
 Understand the nature of capital Session notes/powerpoints & supporting learning materials/articles (as
market structure appropriate).
Content:
 financing decision in context of global
equity markets
 cost of capital and expected return
 sourcing equity globally
 nature of capital market structure

Wk 7 Lecture – Risk – Portfolio Learning Objectives: Independent Study 11 Hours
Theory and Capital Asset Pricing  Understand the concept of portfolio Directed Learning Activities 3 Hours
Model (CAPM) theory Reading:
 Understand the use of the CAPM in Bekaert, G. J., & Hodrick, R.J., (2016), International Financial
an international context Management, 2nd Ed. (pp. 447-490)
 Consider the issues related to Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
managing multinational risk in a9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chaps10-11; pp.
global environment 196-245; Chap 12; pp. 248-277)
 portfolio theory appropriate).
 CAPM in an international context
 multinational risk in a global
environment
 Understand the concept of portfolio Bekaert, G. J., & Hodrick, R.J., (2016), International Financial
theory Management, 2nd Ed. (pp. 447-490)
 Understand the use of the CAPM in Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
an international context 9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chaps10-11; pp.
 Consider the issues related to 196-245; Chap 12; pp. 248-277)
managing multinational risk in aSession notes/powerpoints & supporting learning materials/articles (as
global environment appropriate).
Content:
 portfolio theory
 CAPM in an international context
 multinational risk in a global
environment
Wk 8 Lecture – Financial Learning Objectives: Independent Study 11 Hours
Markets: Efficient Markets  Understand the concept of market Directed Learning Activities 3 Hours
Hypothesis (EMH) efficiency and EMH Reading:
 Understand the nature of the global
capital market and financial system.

 Understand the concept of financial Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
intermediation 9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chap 15; pp. 348-
Content: 371)
 EMH Jacque, L., (2014), International Corporate Finance. 1st Ed., Wiley.
 global capital market and financial London. ISBN 1-118-78186-4 (Chap 8; pp. 235-259; Chap 12;
system. pp. 356-363)
 financial intermediation Session notes/powerpoints & supporting learning materials/articles (as
appropriate).
Wk 8 Tutorial Learning Objectives: Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
 Understand the concept of market 9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chap 15; pp. 348-
efficiency and EMH 371)
 Understand the nature of the global Jacque, L., (2014), International Corporate Finance. 1st Ed., Wiley.
capital market and financial system. London. ISBN 1-118-78186-4 (Chap 8; pp. 235-259; Chap 12;
 Understand the concept of financial pp. 356-363)
intermediation Session notes/powerpoints & supporting learning materials/articles (as
Content: appropriate).
 EMH
 global capital market and financial
system.
 financial intermediation
Wk 9 Lecture – Investment Learning Objectives: Independent Study 11 Hours
Appraisal and International  Understand the methods of Directed Learning Activities 3 Hours
Considerations investment appraisal and potential Reading:
application to multinational Bekaert, G. J., & Hodrick, R.J., (2016), International Financial
enterprises Management, 2nd Ed. (pp. 543-570)
 Discuss the potential for investment Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
by multinationals and factors 9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chaps 3-6 ; pp.
influencing the investment decision in 28-119)
a global context Jacque, L., (2014), International Corporate Finance. 1st Ed., Wiley.
 Consider the use of multinational London. ISBN 1-118-78186-4 (Chap 20; pp. 551-591)
investment appraisal as a FDISession notes/powerpoints & supporting learning materials/articles (as
strategy appropriate).
Content:
 investment appraisal and potential
application to multinational
enterprises
 factors influencing the investment
decision in a global context
 multinational investment appraisal as
a FDI strategy
Wk 9 Tutorial Tutorial Topic/Task: Bekaert, G. J., & Hodrick, R.J., (2016), International Financial
 Understand the methods of Management, 2nd Ed. (pp. 543-570)
investment appraisal and potential Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
application to multinational 9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chaps 3-6 ; pp.
enterprises 28-119)
 Discuss the potential for investment Jacque, L., (2014), International Corporate Finance. 1st Ed., Wiley.
by multinationals and factors London. ISBN 1-118-78186-4 (Chap 20; pp. 551-591)
influencing the investment decision in Session notes/powerpoints & supporting learning materials/articles (as
a global context appropriate).
 Consider the use of multinational
investment appraisal as a FDI
strategy
Content:
 investment appraisal and potential
application to multinational
enterprises
 factors influencing the investment
decision in a global context
 multinational investment appraisal as
a FDI strategy
DEADLINE DATE:
23:59 hrs, Sunday of Week 9 ASSESSMENT SUBMISSION DUE by 23:59 hrs, Sunday of Week 9.

Wk 10 Lecture – Introduction to Learning Objectives: Independent Study 11 Hours

International Financial Markets  Understand the key principles of Directed Learning Activities 3 Hours
and Foreign Currency exchange rate determination Reading:
Management  Understand the case for foreign Bekaert, G. J., & Hodrick, R.J., (2016), International Financial
exchange risk management Management, 2nd Ed. (pp. 147-185; 187-218; pp. 219-250; pp. 259-290)
 Consider use of exchange rate Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
forecasting 9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chap 22; pp. 536-
 Understand key issues in managing 552; Chap 23; pp. 553-578)
transaction, translation and economic Jacque, L., (2014), International Corporate Finance. 1st Ed., Wiley.
exposure London. ISBN 1-118-78186-4 (Chap 2; pp. 23-49; Chap 3; pp.
 Understand the key tools used to 63-90; Chap 7; pp. 185-226; Chap 16; pp. 438-467; Chap 17;
manage currency risk such as pp. 477-492; Chap 18; pp. 507-520); Session notes/powerpoints
Futures, Swaps and Options. & supporting learning materials/articles (as appropriate).
Content:
 principles of exchange rate
determination
 foreign exchange risk management
 exchange rate forecasting
 managing transaction, translation
and economic exposure
 manage currency risk
Wk 10 Tutorial Tutorial Topic/Task: Bekaert, G. J., & Hodrick, R.J., (2016), International Financial
 Understand the key principles of Management, 2nd Ed. (pp. 147-185; 187-218; pp. 219-250; pp. 259-290)
exchange rate determination Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
 Understand the case for foreign 9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chap 22; pp. 536-
exchange risk management 552; Chap 23; pp. 553-578)
 Consider use of exchange rate Jacque, L., (2014), International Corporate Finance. 1st Ed., Wiley.
forecasting London. ISBN 1-118-78186-4 (Chap 2; pp. 23-49; Chap 3; pp.
63-90; Chap 7; pp. 185-226; Chap 16; pp. 438-467; Chap 17;

 Understand key issues in managing pp. 477-492; Chap 18; pp. 507-520); Session notes/powerpoints
transaction, translation and economic & supporting learning materials/articles (as appropriate).
exposure
 Understand the key tools used to
manage currency risk such as
Futures, Swaps and Options.
Content:
 principles of exchange rate
determination
 foreign exchange risk management
 exchange rate forecasting
 managing transaction, translation
and economic exposure
 manage currency risk
Wk 11 Lecture – Current Issues Learning Objectives: Independent Study 11 Hours

in Financial Management  Review the significance of key courseDirected Learning Activities 3 Hours
ideas, concepts and aspects of Reading:
professional practice in international Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
finance to support multinational 9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chap 1; pp. 12 )
enterprises Jacque, L., (2014), International Corporate Finance. 1st Ed., Wiley.
Consider current issues in international London. ISBN 1-118-78186-4 (Chap 1; pp. 1-18)
finance affecting multinational enterprises Session notes/powerpoints & supporting learning materials/articles (as
appropriate).
Content:
 course ideas, concepts and aspects
of professional practice in
international finance to support
multinational enterprises
 current issues in international finance
affecting multinational enterprises


 Review the significance of key courseLumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
ideas, concepts and aspects of 9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chap 1; pp. 12 )
professional practice in international Jacque, L., (2014), International Corporate Finance. 1st Ed., Wiley.
finance to support multinational London. ISBN 1-118-78186-4 (Chap 1; pp. 1-18)
enterprises Session notes/powerpoints & supporting learning materials/articles (as
Consider current issues in international appropriate).
finance affecting multinational enterprises
Content:
Wk 12 Lecture -Revision Learning Objectives: Independent Study 11 Hours
 Review the significance of key courseDirected Learning Activities 3 Hours
ideas, concepts and aspects of Reading:
professional practice in international Lumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
finance to support multinational 9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chap 1; pp. 12 )
enterprises Jacque, L., (2014), International Corporate Finance. 1st Ed., Wiley.
Consider current issues in international London. ISBN 1-118-78186-4 (Chap 1; pp. 1-18)
finance affecting multinational enterprises Session notes/powerpoints & supporting learning materials/articles (as
appropriate).
Content:


 Review the significance of key courseLumby, S. and Jones, C. (2015) Corporate finance: theory and practice.
ideas, concepts and aspects of 9th Ed., Cengage. London. ISBN 1-408-07989-5 (Chap 1; pp. 12 )
professional practice in international Jacque, L., (2014), International Corporate Finance. 1st Ed., Wiley.
finance to support multinational London. ISBN 1-118-78186-4 (Chap 1; pp. 1-18)
enterprises Session notes/powerpoints & supporting learning materials/articles (as
Consider current issues in international appropriate).
finance affecting multinational enterprises
Content:
23:59 hrs, Wednesday of Week
ONLINE TESTS - SUBMISSION DUE by 23:59 hrs on Wednesday of week 13.
13
Students will be expected to engage in all prescribed activities that contribute towards final assessment.

Student Voice & Support Services
How we support your opinion
As a course team, we incorporate the

key partnership principles set out in the joint UU & UUSU Student Voice Guidelines and proactively engage with the democratic election of UUSU academic
student reps (Faculty Reps, School/Dept Reps & Course Reps) to ensure that student opinion is heard at Ulster. We respect your views and welcome your
honest and constructive feedback on the module.
There are several ways to do this:
 You can contact your Module Coordinator about any queries related to your learning experiences on the module.  
 You can voice your opinions through the formal Staff/Student Consultative Committee process by contacting one of the elected UUSU Course Reps in
your class.
 You can use Unitu - a new student feedback online platform, which enables students to have the right opportunities to raise and discuss feedback
about your course and UU in a transparent way. Unitu allows students, Academic Reps and staff to engage in discussions that aim to bring about concrete
improvements and support the student voice.
 You will have the opportunity to give feedback on the module through completing the online Student Module Feedback Survey.  
UUSU Advice Bureau Service

If you are experiencing difficulties that are impacting your studies, you can contact the Advice Bureau in the Students’ Union. You can get advice and
guidance on issues such as - complaints, appeals, housing problems, disciplinaries and info on various support providers available. To have a chat with th e
team, contact UUSU online.

UU Student Wellbeing Service

If you are stressed, anxious or have additional wellbeing support needs or disability please contact Student Wellbeing and take support.

Module Title: International Finance: Module Handbook 2020/21 Module Code: BMG704 (86968)

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What are the assessment requirements for the module?

What are the assessment requirements for the module?

What learning resources are available to students?

What learning resources are available to students?

Module Title: International Finance

Module Handbook 2020/21

Office Hours: Online via email

1. Module Overview and Communication................................................................................. 4

2. Aim & Learning Outcomes .................................................................................................... 5

3. Assessment and Feedback .................................................................................................... 6

Standard Assessment Guidance ............................................................................................. 9

Coursework 1 & 2 Assessment Rubric / Marking Proforma .................................................... 10

4. Learning Resources ............................................................................................................. 11

Library’s Support Services .................................................................................................... 12

Blackboard Learn Student Orientation Course ...................................................................... 12

5. Organisation and Management .......................................................................................... 13

6. Learning and Teaching Methods ......................................................................................... 13

Teaching and Learning Plan ................................................................................................. 15

7. Student Voice & Support Services ....................................................................................... 29

UUSU Advice Bureau Service ................................................................................................ 29

UU Student Wellbeing Service .............................................................................................. 30

Academic Year 2020/21 - Semester I Page 2 of 30

Academic Year 2020/21 - Semester I Page 3 of 30

Module Code BMG704 Module Level 7

Credit points 15-60 Module Status Core

Semesters 1 Location London/Birmingham

Contact Details and Communication Methods

Philiph Pryce ([email protected])

Academic Year 2020/21 - Semester I Page 4 of 30

Overall Aim of the Module

What you should be able to do by the end of this module.

Successful participants will be able to:

Academic Year 2020/21 - Semester I Page 5 of 30

What you need to do to demonstrate achievement of learning.

This module will be assessed via two items of assessment

You are required to prepare/submit an individual report discussing the following:

Choose a Multinational Enterprise (MNE) listed on an internationally

Academic Year 2020/21 - Semester I Page 6 of 30

ENTER THE ASSESSMENT TASK HERE

Academic Year 2020/21 - Semester I Page 7 of 30

Academic Year 2020/21 - Semester I Page 8 of 30

The following guidance is applicable to all coursework items.

3) Marks will be deducted for incomplete or inaccurate referencing.

Academic Year 2020/21 - Semester I Page 9 of 30

Coursework 1 & 2 Assessment Rubric / Marking Proforma

Calculate Candidates must be able to undertake calculations,

Candidates must be able to prepare/draft charts,

Analyse/Discuss Candidates must be able to interpret, apply, and

Evaluate Candidates must be able to interpret, apply, analyse

Academic Year 2020/21 - Semester I Page 10 of 30

Academic Year 2020/21 - Semester I Page 11 of 30

Library’s Support Services

Blackboard Learn Student Orientation Course

Academic Year 2020/21 - Semester I Page 12 of 30

Activity Duration Total Hours

Online Tutorial 1.5 hour 18

Independent Study – Assigned reading and note-taking 5 hours 60

6. Learning and Teaching Methods

Academic Year 2020/21 - Semester I Page 13 of 30