• Course Introduction

        • Time: 27 hours
        • Free Certificate
        During the last several decades, financial markets have led the globalization process as businesses and organizations around the world have found themselves increasingly operating and competing on an international scale. This course outlines the genesis and nature of financial dynamics primarily from an international perspective. The learning outcomes of this course will allow you to operate with confidence in global financial markets from several different perspectives. Specifically, this material can benefit individuals interested in the financial management of multinational organizations or who intend to operate in financial services, both the buy-side and sell-side.

      • Unit 1: Introduction to Financial Markets

        This unit introduces the nature of financial markets, their purpose, and their role in the global economy. In this unit, you will learn why financial markets play such a critical role in domestic economies, international trade, and international commerce.

        Completing this unit should take you approximately 2 hours.

      • Unit 2: Banking

        This unit introduces the different types of financial institutions and focuses on the various forms of banking, including depository and non-depository institutions. In this unit, you will learn more about the role of central banks and why it is referred to as the "bank of banks". You will also understand the role of the Basel Committee in setting the rules for international finance.

        Completing this unit should take you approximately 2 hours.

      • Unit 3: Money and Bond Markets

        This unit outlines the interest rate structure, money market securities, and different bond markets, including the Eurobond market. In this unit, you will investigate the genesis of interest rates and their role, specifically in the short-term and long-term fixed-income markets.

        Completing this unit should take you approximately 3 hours.

      • Unit 4: Equity Markets

        This unit discusses stock and shares and other equity securities, as well as the role of stock exchanges in financial markets. Among different types of markets, the Stock market is the most popular both among practitioners and retail investors. In this unit, you will be exposed to various tools of the stock market and the notion of the effective market hypothesis (EMH), as well as more recent advances in financial theory, such as the behavioral hypothesis and the adaptive market hypothesis.

        Completing this unit should take you approximately 1 hour.

      • Unit 5: Hedge Funds and Private Equity

        This unit investigates other non-depository institutions, such as hedge funds and private equity, and the important role they play in international markets. As financial markets become increasingly institutionalized, the role of hedge funds and other non-depository institutions is becoming more dominant.

        Completing this unit should take you approximately 1 hour.

      • Unit 6: Financial Crises

        This unit analyzes financial crises from a historical perspective to identify common traits and market behavior. Financial crises have occurred several times during the last two decades, and it becomes critical to understand their nature and ramifications for systemic risk. In this unit, you will review different financial crises with specific attention to the subprime mortgage crisis of 2008.

        Completing this unit should take you approximately 4 hours.

      • Unit 7: The Foreign Exchange Market

        This unit investigates foreign exchange markets, their structure, and their market participants. In this unit, you will review the variables that affect exchange rates among different currencies. You will also review the theory of purchasing power parity as well as the interest rate parity theory, which are the dominant theories for establishing spot exchange rates and forward rates.

        Completing this unit should take you approximately 3 hours.

      • Unit 8: Economic and Monetary Union in Europe

        This unit investigates the European Union and the Eurozone as some of the largest global economic and financial centers and the implications for international capital markets. Specifically, in this unit, you will review opportunities and challenges that the EU is currently facing, such as creating a common financial market and the effects of Brexit.

        Completing this unit should take you approximately 4 hours.

      • Unit 9: Derivative Products

        This unit provides a review of different derivative products and their use for hedging and insurance purposes. In this unit, you will learn about the use of exchange-traded derivatives (that is, stock options) as well as over-the-counter financial instruments such as credit default swaps (CDS) and collateralized debt obligations (CDOs).

        Completing this unit should take you approximately 3 hours.

      • Unit 10: The Future of Global Markets

        This unit will investigate future trends that will likely define the next decade in international markets. It will examine how financial regulations affect financial institutions and explain how financial technology plays a role in shaping the offering of financial products and services, from cryptocurrencies to digital securities.

        Completing this unit should take you approximately 4 hours.

      • Study Guide

        This study guide will help you get ready for the final exam. It discusses the key topics in each unit, walks through the learning outcomes, and lists important vocabulary. It is not meant to replace the course materials!

      • Course Feedback Survey

        Please take a few minutes to give us feedback about this course. We appreciate your feedback, whether you completed the whole course or even just a few resources. Your feedback will help us make our courses better, and we use your feedback each time we make updates to our courses. If you come across any urgent problems, email contact@saylor.org.

      • Certificate Final Exam

        Take this exam if you want to earn a free Course Completion Certificate.

        To receive a free Course Completion Certificate, you will need to earn a grade of 70% or higher on this final exam. Your grade for the exam will be calculated as soon as you complete it. If you do not pass the exam on your first try, you can take it again as many times as you want, with a 7-day waiting period between each attempt. Once you pass this final exam, you will be awarded a free Course Completion Certificate.