International Financial Markets 4003-115-c-mrf
The role of money and finance is described using a model of global economy at three stages: home, European and global continuously interacting between each other. It is described in a broad context of macroeconomic policy and its strategies across different economic models in terms of monetary, fiscal and financial policy. The role of the main central banks like the Federal Reserve and ECB are considered as major actors shaping trends in global financial centers. At the national level the role of the National Bank of Poland is analyzed.
The main instruments of the UE policy shaping fiscal policy, the nominal convergence criteria, the Stability and Growth Pact, the EU budget and other procedures for economic policy coordination’s are evaluated and verified. Verification of the opportunities and threats of a single currency areas where the monetary policy is lead by a supranational institution are examined.
The free movement of capital worldwide that is a key element of money and finance in economy is analyzed in SWOT analyze. Particular attention has been payed to detailed analyzes of the main factors determining movement of capital in an international perspective broken down into bank capital, portfolio capital and foreign direct investment.
Student workload:
classes - 30 h
preparation to the classes and the exam - 30 h
total - 60 h
Type of course
Prerequisites (description)
Learning outcomes
After the course students:
1/ identify monetary circulation and free movement of capital
2/ identify the international financial environment and rules that govern monetary, financial and fiscal policy at different levels
3/ identify opportunities and threats of different activities of financial market participants
4/ have ability to analyze of macroprudential norms, financial supervision and stability of financial system,
5/ identify threats led to financial crisis,
6/ identify and analyze of global capital movement rules, including international money.
Assessment criteria
1 / attendance, 2 / activity in the classroom, 3 / group work, 4 / working with database
Bibliography
Main positions
Al.-Kaber Munir, Rynki finansowe, 2010, Wydawnictwo Wyższej Szkoły Ekonomicznej w Białymstoku,
• System finansowy w Polsce (red. Pietrzak) PWE, 2008
• Oręziak L., Finanse UE, PWN, 2009
• Górski M., Rynkowy system finansowy, Warszawa: PWE, 2013
Complementary position
• Wyzwania integracji ze strefą euro, NBP, 2014,
http://nbp.pl/aktualnosci/wiadomosci_2014/20141120_raport_wyzwania_integracji_ze_strefa_euro.pdf
• Mechanizmy funkcjonowania strefy euro, NBP, 2010
• Europejska integracja monetarna, NBP, 2009
http://www.nbp.pl/publikacje/integracja_monetarna/raporty.pdf
• Grosse G., T., Systemowe uwarunkowania kryzysu w strefie euro
http://www.bibliotekacyfrowa.pl/Content/35518/015.pdf
• Tchorek G. Źródła kryzysu a nowe rozwiązania instytucjonalne w strefie euro, Czasopismo FINANE, Komitet Nauk o Finansach PAN, 2014, http://www.knfpan.pan.pl/index.php/36-uncategorised/108-numer-1-7-2014-czasopisma-finanse
• Tchorek G. Nierównowagi fiskalne i makroekonomiczne a nowe rozwiązania w strefie euro, MBA, 2013, http://journals.indexcopernicus.com/abstract.php?icid=1056018
Additional information
Information on level of this course, year of study and semester when the course unit is delivered, types and amount of class hours - can be found in course structure diagrams of apropriate study programmes. This course is related to the following study programmes:
Additional information (registration calendar, class conductors, localization and schedules of classes), might be available in the USOSweb system: