International financial system

obligatory courses

The subject of the course is the problematique of the international financial system (the subject and entity scope of international financial relations).

Classroom
Self-reading

Topics covered in the module include: Definition of the financial system, elements of the financial system Classification of financial markets. The gold currency standard. The Bretton Woods system. Global financial governance and the modern financial system. The contemporary monetary system. Challenges facing the system and prospects for reform of international financial institutions. International currencies and the foreign exchange market. Financial crises. The political economy of sovereign debt.

Course unit outline:

1. Introduction to finance - national vs. international financial system, financial intermediaries and classification of financial markets

2. The history of the international financial system: the gold standard, Bretton Woods, the modern 'ad hoc' international system

3 Global Financial Governance and its challenges

4 International financial institutions

Exchange rate regimes (IMF classification) 6.

6 International currencies

7 Monetary and financial integration

8. Financial crises (types, classification) & international debt

9. Sustainable finance & green bonds

10. Cryptocurrencies & digital currencies

11. Sovereign Wealth Funds (SWFs)

B. Bernaś, Finanse międzynarodowe, Warszawa 2006;

K. Zabielski, Finanse międzynarodowe, Warszawa 2002.

Mishkin, F.S., The Economics of Money, Banking and Financial Markets, Tenth Edition, Pearson 2012;

Mishkin, F.S. & Eakins, S.G., Financial Markets & Institutions, Seventh Edition, Pearson 2012;

Madura, J., Financial Institutions and Markets, International Edition, Tenth Edition, South-Western 2012;

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.

KNOWLEDGE (K_W01; K_W02; K_W04)

1 has knowledge of the essence and function of money, its convertibility, factors determining the international rank and

use of national currencies in international economic circulation, has knowledge of the factors shaping the exchange rate,

basic mechanisms of exchange rate policy and the significance of the balance of payments in the financial relations of a country with

abroad

2 has a structured knowledge of the history and contemporary functioning of the international financial system

3 knows the importance of commercial banks in international financial relations, has knowledge of the settlement and financing of

foreign trade

4 has knowledge of the coordination of monetary and financial policy on an international scale, the cooperation of central banks, the mechanisms and

principles of monetary integration of the European Union, the role and significance of the International Monetary Fund and the World Bank Group

SKILLS (K_U01)

1 analyzes phenomena on international financial markets

2 identifies types of transactions in international finance: traditional, forward, currency speculation

COMPETENCES (K_K03)

1 is prepared to work as an analyst of international financial markets

2 is prepared for second degree studies

1. lecture attendance and quizzes on the classroom platform - 40 % of the final mark;

2. online coursework (2) - 60 % (3 x 20 %) of the final mark.

NA