International Financial Markets

The course aims at providing a thorough review and critical assessment of developments in international financial markets, including the ongoing changes in the international financial system, and impact of the subprime crisis of 2007-2009 and Covid-19 pandemics.

Outline of seminars (subject to changes):

 Introduction to financial system and markets;

 International financial system;

 Anglo-Saxon vs. continental financial system;

 Classification of financial markets;

 Money market;

 Capital market;

 Foreign Exchange market;

 Derivatives;

 Political economy of financial crisis 2008+;

 Challenges of digital economy.

 Sustainable and green financial markets.

 Mishkin, F.S., The Economics of Money, Banking and Financial Markets, Tenth Edition, Pearson 2012 (or later);

 Mishkin, F.S. & Eakins, S.G., Financial Markets & Institutions, Seventh Edition, Pearson 2012 (or later);

 Ferguson, N., The Ascent of Money: A Financial History of the World, Penguin 2012.

 Kindleberger, Ch.P. & Aliber, R.Z., Manias, Panics and Crashes: A History of Financial Crises, Palgrave Macmillan 2011.

 Additional readings (journal papers, statistical data…) provided on a weekly basis.

On completion of the unit students should be able to:

 Name the economic role of different segments of financial market;

 Understand the process of financial integration;

 Understand the role of international financial institutions in financial stability;

 Search, access and examine the main sources of data relevant to financial markets.

1. Presentation: 20-minute presentation on the selected topic (list of topics included in the syllabus) – 40% of the final grade (40 points);

2. E-learning platform tasks – 40% of the final grade (2 x 20 points);

3. Coursework: active participation in seminars – 20% of the final grade (20 points).

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