Eco 690 sec. 68 syllabus - Duke University | Economics

Eco 195.90: International Finance, Prof..Michael
Connolly, Kimmel Center, NYU, 60 Washington Square
South, New York, NY 10012
● Course objective: To learn international finance and its application to
business practice and economic policy.
● Description: International Business Finance provides a working
knowledge of international monetary and financial issues, theories,
concepts and practice. The first part of the course examines the
mechanics of the foreign exchange market, reviewing spot, forwards,
futures and options. The second part of the course constructs the four
building blocks of international finance: interest rate parity (covered and
uncovered interest rate arbitrage), purchasing power parity, the
international Fisher - expectations -effect, and asset market equilibrium
(money market and exchange market equilibrium). The role of the money
supply in exchange rate and price level determination is stressed. In the
third part of the course, currency risk management and instruments are
explored in detail. The fourth and concluding part of the course reviews
international scams and swindles, including pyramid schemes. Business
plans and cases will be covered.
● Instructor: Michael Connolly (
● Department Economics
● Textbook: Michael Connolly, International Business Finance ISBN
Routledge, NY and London © 2007. Paperback ISBN: 0-415-70153-8
(retail price $48.58, available on
● Outline of topics
Introduction to International Money and Finance
History of Money and Finance
The Foreign Exchange Market
Hedging Foreign Exchange Risk
International Financial Management
Financial Scams and Swindles
● Course meetings:
● 10:00am-12:00pm T-R
Dates: ● January 14, 2010–March 5, 2009
Mid-term exams: ●TBA
Final exam:
● March 4, 2009
Note: No exams may be dropped, and the final exam is mandatory.
Eco 195.90: International Finance
● Grading: there are three examinations, each counting one-third of your
grade. Grading policy will be discussed in class.
About the instructor
● Education
Ph.D., Economics, University of Chicago, 1969
B.A., Economics, Phi Beta Kappa, UC Berkeley, 1964
● Current Positions
Professor, Department of Economics, University of Miami
Professor of Finance, Hunan University, Changsha, P.R. of China
Editor-in-Chief, Journal of Economic Policy Reform, a Routledge journal
since 1998.
● Experience
Previously taught at Harvard University (1968-1972), Columbia University
(1994-1996), Duke University (2005), Université de Paris-Dauphine, Paris,
France (1990-2000), Université de Cocody, Abidjan, Ivory Coast (20002008), and Université de Yaoundé, Cameroon (2000-2003), Hunan
University 2008.
Author of over 50 published articles and 7 books, including International
Business Finance, Routledge, London 2007 and International Financial
Management (in Chinese))Peking University Press, 2007.
Consultant to the World Bank on trade, finance, and lending: Uzbekistan,
1993-1996, Mongolia, 1992-1995, Ghana, 1992, Kenya, 1992, Paraguay, 1991,
Sénégal, 1991, Perú, 1991, Uruguay, 1989-91, Cameroon, 1986-89, Ecuador,
1987-88, Argentina, 1985-86, 1989.
Sovereign bond consultant, UBS Warburg (now UBS Wealth Management):
2001-2002, Stamford, CT.
● Honors and Awards
Winner of 3 Excellence in Teaching awards.
Honorary Doctorate, Universidad Norbert Wiener, Lima, Perú.
Fulbright Teaching Awards: Instituto Tecnológico Autónomo de México,
1985 (in Spanish). Instituto de Economía de Montevideo, Uruguay, 1991,
Instituto de Economía de Lisboa, Portugal, 1996.