Structure and operation of global financial markets: The international monetary system, global banking, eurocurrency markets, global securities markets, foreign exchange markets, emerging capital markets, and global portfolio management. Financial skills are required for effective management of companies engaged in international business with an emphasis on international financial management, extension of closed economy financial management techniques to the global market environment. Topics include balance of payments and exchange rate determination, the hedging of exchange rate risk, multinational capital budgeting, political risk management, taxation, the corporate management of short-term and long-term assets and liabilities and financing the global operations of firms.