Course Name Year Term Period Faculty / Graduate School All Instructors Credits
13028:[2025 Spring]IR18‐EE322 International Finance (R) § 13029:RUIR-3241 International Finance(R) § 13030:IR-EBS302 International Finance (R) 2025 Spring Wed3 College　Of　International　Relations LU WANXUE 2

Campus

KIC

Class Venue

MEIGAKUKAN　MG001

Language

English

Course Outline and Method

【+R-Jugyo】
Information for “+R-Jugyo” will be posted on the “Course News” on manaba+R by April 1. Be sure to check the “Course News” on manaba+R.

International finance, understood as the global flow of capital, is a significant force that can serve as both the greatest driver of growth and the greatest source of disruption for the economy. Understanding the dynamics of international finance is crucial for comprehending fluctuations in the real economy, such as global financial crises and the rapid depreciation of the Japanese Yen since early 2022. This course will cover the fundamental theories, major issues, and institutional and practical aspects of global money and international finance. We will explore (1) the balance of payment, (2) exchange rate regimes, (3) open economy macroeconomics, and (4) cross-border capital flow and international financial crises.

The lectures will also address the evolving international monetary system, international financial organizations, and development finance. Through formal economic modeling and case studies, the course will emphasize understanding past and current events in the global economy, as well as related monetary and fiscal policy issues.
Students are encouraged to ask questions and share their experiences and opinions in class.

Student Attainment Objectives

Students are expected to
(1) Acquire comprehensive knowledge and analytical tools for examining the balance of payments, exchange rate regimes, and the dynamics of international financial crises.
(2) Deepen their understanding of the international monetary system and international financial organizations, develop practical skills in applying international finance theories to real-world economic issues, evaluate monetary and fiscal policies, and derive policy implications.

Recommended Preparatory Course

This course has no formal prerequisites, but a basic understanding of macroeconomics is recommended.

Course Schedule

Lecture/Instructor（When there are multiple instructors) Theme
Keyword, References and Supplementary Information
1

Introduction

Overview of the course
Fundamentals of international finance

2

Key Macroeconomic Indicators and Basic Economic Concepts

• Gross Domestic Product (GDP), interest rates, investment, markets, money
• National income, prices, savings, supply

3～4

Part Ⅰ. Balance of Payments

• Balance of payments statistics, flow and stock
• The current account, capital and financial accounts
• External net asset statistics, net exports, trade balance
• Net capital outflow and international imbalances

5～7

Part Ⅱ. Foreign Exchange Market

• Structure and functioning of the foreign exchange market
• Appreciation and depreciation, arbitrage
• Floating vs. fixed exchange rates, foreign exchange risk
• Interest rate parity, purchasing power parity, real exchange rates

8～10

Part Ⅲ. An Introduction to Open Economy Macroeconomics

• International monetary systems
• Aggregate demand and supply in an open economy
• Fiscal policy, monetary policy, and open-market operations
• Reserves management and trade policy

11～14

Part Ⅳ. International Financial Organizations, International Financial Crises and Development Finance

• Role of the IMF, World Bank, and regional development banks (e.g., ADB, IADB, AIIB, New Development Bank)
• Asset price bubbles, capital flight, crisis prevention, debt reduction
• Lender of last resort mechanisms, international development finance
• Group presentations and discussions on selected topics in international finance and macroeconomic policies

Class Format

Face-to-face classes will be conducted in this course.

Recommendations for Private Study

Students are expected to solve the problem sets and expand their knowledge on related themes by reading the various materials distributed throughout the course. Students are encouraged to regularly follow current events related to international economics and finance. It is recommended to subscribe to the free electronic version of the Financial Times provided by the university.

Grade Evaluation Method

Kind Percentage Grading Criteria etc.
Final Examination (Written)

Report Examination
(A report to be submitted by the unified deadline)

Exams and/or Reports other than those stated above, and Continuous Assessment　
(Evaluation of Everyday Performance in Class)		 100

Attendance, Class Participation and Discussion: 35%
In-class Quizzes: 40%
Group Presentation: 25%

Grade Evaluation Method （Note）

Advice to Students on Study and Research Methods

For students interested in international political and economic issues, a basic understanding of economics, along with coursework in areas such as macroeconomics and international economics, is highly recommended. A global perspective is essential for participants in this course, as it will deepen their understanding of political, economic, and social issues within both the global and Japanese contexts. The course will incorporate case studies to enhance learning. Students are encouraged to share any cases related to the course themes that interest them. The instructor will strive to adjust the course content to include these topics whenever feasible.

Textbooks

Textbooks （Frequency of Use, Note）

There is no required textbook for this course. Handouts will be provided in class.

Reference Books

Reference Books （Frequency of Use, Note）

Handouts and reading materials will be distributed during class.

Web Pages for Reference

How to Communicate with the Instructor In and Out of Class(Including Instructor Contact Information)

Talk with Students,Other (Separate instructions will be provided)

Other Comments

The instructor's work experience includes Bank of Japan, the International Monetary Fund and the World Bank.

The instructor's email address is "hirotoku@fc.ritsumei.ac.jp".
【科目ナンバリング・カリキュラムマップはこちらから/Click here to see the Curriculum-Map and Course-Numbering】
URL:http://www.ritsumei.ac.jp//students/pathways-future/course/curriculum.html