| Course Name | Year | Term | Period | Faculty / Graduate School | All Instructors | Credits |
|---|---|---|---|---|---|---|
| 16619:IR18‐EE322 International Finance (R) § 16620:RUIR-3241 International Finance(R) § 16621:IR-EBS302 International Finance (R) | 2024 | Fall | Thu2 | College Of International Relations | TOKUMARU HIROSHI | 2 |
Campus
Class Venue
Language
Course Outline and Method
All economies today are international. It is impossible to make a proper policy/business decision without understanding cross-border trade and financial transactions. Thus knowledge and understanding of international finance will be of critical importance to international relations students.
Our goal is to enable students to understand the relationship between the real economy and international finance, operational aspects of the foreign exchange market, and the basic forces behind international capital movements. Upon successful completion of this course, students will gain insight into current issues in international finance from a broader perspective.
This course will keep a non-technical profile; mathematical skills beyond simple algebra and graphical analysis are not required.
This course employs the instructor's practical knowledge of economic management, based on his work experience at the Bank of Japan, the International Monetary Fund, and the World Bank.
When necessary, the course content/schedule/delivery format will be modified to better serve the educational needs of the class.
Student Attainment Objectives
1) explain the core economic principles that underlie international financial transactions;
2) understand the fundamentals of the balance of payments, the mechanics of exchange rates, and the nature and causes of international financial crises;
3) discuss monetary and fiscal policy issues in an open economy;
4) interpret international financial data;
5) discuss the international monetary system.
Recommended Preparatory Course
Course Schedule
| Lecture/Instructor（When there are multiple instructors) | Theme |
|---|---|
| Keyword, References and Supplementary Information | |
| 1 | Introduction and Overview of the Course |
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| 2 | Key Macroeconomic Indicators and Basic Economic Concepts |
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| 3-5 | Balance of Payments |
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| 6-8 | Foreign Exchange Market |
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| 9-11 | An Introduction to Open Economy Macroeconomics |
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| 12-13 | International Financial Crises |
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| 14 | International Organizations |
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| 15 | Further Topics and Wrap-up |
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Class Format
My lectures will be given in the classroom as scheduled. Upon prior proper request due to a justifiable reason, my lectures will be delivered online in real time and/or be recorded with Zoom.
Recommendations for Private Study
There will be several in-class or online quizzes, which will count toward the grade. Online quizzes will be made available through manaba+R. These quizzes will reflect the materials covered in the lectures or in the readings, and contain fill-in-the-blank questions, multiple choice questions, and problems requiring numerical calculations. They are designed to help students understand key topics as well as improve in problem solving. Each quiz will take no more than 30 minutes.
The following are sample questions/problems:
・An increase in the inflation rate in a country will: a) appreciate its currency; b) depreciate its currency; c) have no effect on its currency’s exchange rate.
・Suppose the market yen-dollar exchange rate has changed from 100.00 yen per US dollar in the base year to 80.00 yen per US dollar. Prices have been decreased in Japan by 10 percent and increased in the United States by 25 percent since the base year. The real yen-dollar exchange rate is ( ) yen per US dollar. Accordingly, the yen has ( ) in nominal terms but ( ) in real terms vis-à-vis the dollar.
・Discuss the pros and cons of current account deficits.
Students are encouraged to review what they have learned in class; each new section of this course will be based on the contents learned in the earlier sessions. This will ensure that students build up their knowledge and benefit from the course at the maximum.
Students are encouraged to keep themselves up-to-date through newspapers such as the Wall Street Journal, the Financial Times, and the Nikkei Asian Review.
Grade Evaluation Method
| Kind | Percentage | Grading Criteria etc. |
|---|---|---|
| Final Examination (Written) | 0 | |
| Report Examination (A report to be submitted by the unified deadline) |
0 | |
| Exams and/or Reports other than those stated above, and Continuous Assessment (Evaluation of Everyday Performance in Class) |
100 | Term paper - 70%
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Grade Evaluation Method （Note）
The paper will count for 70% (70 points) of the whole grade. What students turn in should represent his/her own work - not generative AI's work - that provides evidence of his/her understanding the concepts, theories and ideas developed in the course. There will be no minimum/maximum word/page requirements for the term paper. Although length is not an important factor in evaluating your paper, too long or too short may reduce the grade. Detailed Instructions for the paper will be provided in class.
Students can earn up to 15 points (15% of the grade) by successfully completing short answer questions. These questions will be designed to help students understand key topics. Each question will take no more than 15 minutes.
Class participation will count for 15% (15 points) of the whole grade. Attendance will be taken and it will be incorporated in the grade.
Advice to Students on Study and Research Methods
Regular attendance is not required but strongly recommended. In this course, each new section will be based on the concepts learned in the earlier sections. Students will be unable to understand the current lectures unless they understood the previous lectures. In addition, students should be responsible for any notes and announcements that he/she may have missed if he/she fails to attend class.
In order to run the class smoothly, disturbing behavior will not be tolerated. All students are expected to conduct themselves with courtesy, diligence, honesty, and integrity.
Students should be honest in all of their academic work. Evidence of academic misconduct such as cheating, plagiarism, and false attendance may result in an F-grade and/or an academic disciplinary action in accordance with the College's rules.
The official language of this course is English. Students may communicate with the instructor in Japanese outside/after class.
The course materials are for internal use only and may not be publicly disclosed in any form or manner whatsoever.
Manaba+R will be used for general class announcements. Class cancellations/changes will be posted on Manaba+R.
Students who may need special consideration and/or have concerns with the class are encouraged to contact the instructor at his/her earliest convenience to discuss his/her needs with the College Office and the Office of Student Affairs as necessary.
Textbooks
Textbooks （Frequency of Use, Note）
Reference Books
| Title | Author | Publisher | ISBN Code | Comment |
|---|---|---|---|---|
| International Economics | Gerber, James | Pearson | 9781292433998 | |
| Issues in Economics Today | Guell, Robert | McGraw-Hill | 9781260575767 | |
| Principles of Macroeconomics | Mankiw, N. Gregory | Cengage | 9780357133729 |
Reference Books （Frequency of Use, Note）
Web Pages for Reference
International Monetary Fund http://www.imf.org
Japan External Trade Organization http://www.jetro.go.jp
Ministry of Economy, Trade and Industry http://www.meti.go.jp
Ministry of Finance http://www.mof.go.jp
Organization for Economic Co-operation and Development http://www.oecd.org
World Bank http://www.worldbank.org
World Trade Organization http://www.wto.org
How to Communicate with the Instructor In and Out of Class(Including Instructor Contact Information)
Other Comments
The instructor's email address is "hirotoku@fc.ritsumei.ac.jp".
URL:http://www.ritsumei.ac.jp//students/pathways-future/course/curriculum.html