Department of Global Business and Enterprise
BMG704 International Finance
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.
- 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 | ||
| E-learning | Online/Blended | ||
| Communication Methods | |||
| Module Method | Online | ||
| Module Title | International Finance | ||
| General Information, Queries and Consultations |
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 suitable appointment. |
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| Module Announcements |
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. It also advisable that you download the ‘Blackboard’ App as an alternative to access these announcements, notifications, reminders as well as content. |
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- 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
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.
- Learning Outcome 2
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.
- Learning Outcome 3
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.
- Learning Outcome 4
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.
- Assessment and Feedback
| 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:
1. 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.
2. 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
3. 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).
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 in semester 1. The 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
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 penalised 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 referencing as indicated.
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
Calculate Construct |
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.
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, 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
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.
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 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 /
L&T Methods / Topic Title |
Curriculum Content | Independent/Directed Study, includes: Required Reading, Tutorial preparation, and/or Assessment Preparation |
| Wk 1 Lecture
Lecture Title – Introduction to the Global Financial Environment |
Learning Objectives:
Understand the nature of the financial environment and international influences Understand key aspects of the financial statements and position of a MNE Consider key issues in report writing Content: 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 |
Session notes/powerpoints as appropriate. |
BMG704 International Finance
| Wk 1 Tutorial | Tutorial Topic/Task:
Understand the nature of the financial environment and international influences Understand key aspects of the financial statements and position of a MNE Consider key issues in report writing Content: 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 |
Session notes/powerpoints as appropriate. |
| Wk 2 Lecture – Analysis of MNE’s Financial Position in a Global Context | Learning Objectives:
Understand the nature of financial decisions and the decision making process Understand the international issues affecting international corporate finance Explain key aspects of the financial position of a multinational enterprise |
Session notes/powerpoints as appropriate.
|
BMG704 International Finance
| 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 |
Session notes/powerpoints as appropriate.
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| Wk 2 Tutorial | Tutorial Topic/Task:
Understand the nature of financial decisions and the decision making process Understand the international issues 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 issues affecting international corporate finance |
Session notes/powerpoints as appropriate.
|
BMG704 International Finance
| Key aspects of the financial position of a multinational enterprise using financial statements and ratio analysis | ||
| Wk 3 Lecture – Financial Decision Making and
International Issues |
Learning Objectives:
Understand the importance of financial decision making; analyse and evaluate the financial position of a multinational enterprise using ratio analysis Appreciate the nature of wealth maximisation Analyse the international issues affecting multinational financing Content: Financial decision making; analyse and evaluate the financial position of a multinational enterprise using ratio analysis Nature of wealth maximisation International issues affecting multinational financing |
Session notes/powerpoints as appropriate.
|
BMG704 International Finance
| Wk 3 Tutorial | Tutorial Topic/Task:
Understand the importance of financial decision making; analyse and evaluate the financial position of a multinational enterprise using ratio analysis ∙ Appreciate the nature of wealth maximisation Analyse the international issues affecting multinational financing Content: Financial decision making; analyse and evaluate the financial position of a multinational enterprise using ratio analysis Nature of wealth maximisation International issues affecting multinational financing |
Session notes/powerpoints as appropriate.
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| Wk 4 Lecture – Dividend Decision | Learning Objectives:
Appreciate the importance of the dividend decision Understand the impact of dividend policy Content: The dividend decision The impact of dividend policy |
Session notes/powerpoints & supporting learning materials/articles (as appropriate). |
BMG704 International Finance
| Wk 4 Tutorial | Tutorial Topic/Task:
Appreciate the importance of the dividend decision Understand the impact of dividend policy Content: The dividend decision The impact of dividend policy |
Session notes/powerpoints & supporting learning materials/articles (as appropriate). |
| Wk 5 Lecture – Capital Structure Learning Objectives: | Understand the significance of an optimal capital structure
Appreciate the issues affecting capital structure in a complex world Content: Capital structure Issues affecting capital structure in a complex world |
Session notes/powerpoints & supporting learning materials/articles (as appropriate). |
| Wk 5 Tutorial | Tutorial Topic/Task:
Understand the significance of an optimal capital structure Appreciate the issues affecting capital structure in a complex world Content: Capital structure Issues affecting capital structure in a complex world |
Session notes/powerpoints & supporting learning materials/articles (as appropriate). |
BMG704 International Finance
| Wk 6 Lecture – Cost of Capital | Learning Objectives:
Understand the nature of the financing decision in context of global equity markets Understand the concept of an international cost of capital and expected return Understand the issues related to sourcing equity globally Understand the nature of capital market structure Content: The financing decision in context of global equity markets Cost of capital and expected return ∙ sourcing equity globally Nature of capital market structure |
Session notes/powerpoints & supporting learning materials/articles (as appropriate).
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| Wk 6 Tutorial | Tutorial Topic/Task:
Understand the nature of the financing decision in context of global equity markets Understand the concept of an international cost of capital and expected return Understand the issues related to sourcing equity globally Understand the nature of capital market structure Content: Financing decision in context of global equity markets Cost of capital and expected return ∙ sourcing equity globally |
Session notes/powerpoints & supporting learning materials/articles (as appropriate).
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BMG704 International Finance
| Nature of capital market structure | ||
| Wk 7 Lecture – Risk – Portfolio Theory and Capital Asset Pricing Model (CAPM) | Learning Objectives:
Understand the concept of portfolio theory Understand the use of the CAPM in an international context Consider the issues related to managing multinational risk in a global environment Content: Portfolio theory CAPM in an international context ∙ multinational risk in a global environment |
Session notes/powerpoints & supporting learning materials/articles (as appropriate).
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| Wk 7 Tutorial | Tutorial Topic/Task:
Understand the concept of portfolio theory Understand the use of the CAPM in an international context Consider the issues related to managing multinational risk in a global environment Content: Portfolio theory CAPM in an international context ∙ multinational risk in a global environment |
Session notes/powerpoints & supporting learning materials/articles (as appropriate).
|
| Wk 8 Lecture – Financial Markets: Efficient Markets Hypothesis (EMH) | Learning Objectives:
Understand the concept of market efficiency and EMH Understand the nature of the global capital market and financial system. |
Session notes/powerpoints & supporting learning materials/articles (as appropriate). |
BMG704 International Finance
| Understand the concept of financial intermediation
Content: EMH Global capital market and financial system. Financial intermediation |
Session notes/powerpoints & supporting learning materials/articles (as appropriate). | |
| Wk 8 Tutorial | Learning Objectives:
Understand the concept of market efficiency and EMH Understand the nature of the global capital market and financial system. Understand the concept of financial intermediation Content: EMH Global capital market and financial system. Financial intermediation |
Session notes/powerpoints & supporting learning materials/articles (as appropriate). |
| Wk 9 Lecture – Investment Appraisal and International Considerations | Learning Objectives:
Understand the methods of investment appraisal and potential application to multinational enterprises Discuss the potential for investment by multinationals and factors influencing the investment decision in a global context Consider the use of multinational investment appraisal as a FDI strategy |
Session notes/powerpoints & supporting learning materials/articles (as appropriate). |
BMG704 International Finance
| 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 |
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| Wk 9 Tutorial | Tutorial Topic/Task:
Understand the methods of investment appraisal and potential application to multinational enterprises Discuss the potential for investment by multinationals and factors influencing the investment decision in a global context 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 |
Session notes/powerpoints & supporting learning materials/articles (as appropriate).
|
BMG704 International Finance
| Wk 10 Lecture – Introduction to International Financial Markets and Foreign Currency
Management |
Learning Objectives:
Understand the key principles of exchange rate determination Understand the case for foreign exchange risk management Consider use of exchange rate forecasting Understand key issues in managing transaction, translation and economic 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 |
Session notes/powerpoints & supporting learning materials/articles (as appropriate).
|
| Wk 10 Tutorial | Tutorial Topic/Task:
Understand the key principles of exchange rate determination Understand the case for foreign exchange risk management Consider use of exchange rate forecasting |
Session notes/powerpoints & supporting learning materials/articles (as appropriate). |
BMG704 International Finance
| Understand key issues in managing transaction, translation and economic 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 |
Session notes/powerpoints & supporting learning materials/articles (as appropriate).
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| Wk 11 Lecture – Current Issues in Financial Management | Learning Objectives:
Review the significance of key course ideas, concepts and aspects of professional practice in international finance to support multinational enterprises Consider current issues in international finance affecting multinational enterprises Content: Course ideas, concepts and aspects of professional practice in international finance to support multinational enterprises Current issues in international finance affecting multinational enterprises |
Session notes/powerpoints & supporting learning materials/articles (as appropriate).
|
BMG704 International Finance
| Wk 11 Tutorial | Tutorial Topic/Task:
Review the significance of key course ideas, concepts and aspects of professional practice in international finance to support multinational enterprises Consider current issues in international finance affecting multinational enterprises Content: Course ideas, concepts and aspects of professional practice in international finance to support multinational enterprises Current issues in international finance affecting multinational enterprises |
Session notes/powerpoints & supporting learning materials/articles (as appropriate).
|
| Wk 12 Lecture -Revision | Learning Objectives:
Review the significance of key course ideas, concepts and aspects of professional practice in international finance to support multinational enterprises Consider current issues in international finance affecting multinational enterprises Content: Course ideas, concepts and aspects of professional practice in international finance to support multinational enterprises |
Session notes/powerpoints & supporting learning materials/articles (as appropriate).
|
BMG704 International Finance
| Current issues in international finance affecting multinational enterprises | ||
| Wk 12 Tutorial | Tutorial Topic/Task:
Review the significance of key course ideas, concepts and aspects of professional practice in international finance to support multinational enterprises Consider current issues in international finance affecting multinational enterprises Content: Course ideas, concepts and aspects of professional practice in international finance to support multinational enterprises Current issues in international finance affecting multinational enterprises |
Session notes/powerpoints & supporting learning materials/articles (as appropriate).
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Students will be expected to engage in all prescribed activities that contribute towards final assessment.
Student Voice & Support Services
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 electedUUSU 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 the 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.
