Students

ECON3060 – International Finance

2026 – Session 2, In person-scheduled-weekday, North Ryde

General Information

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Unit convenor and teaching staff Unit convenor and teaching staff Unit Convenor & Lecturer
Ha Vu
ha.vu@mq.edu.au
Room 426 4 Eastern Road
Please check ilearn
Credit points Credit points
10
Prerequisites Prerequisites
(ECON203 or ECON2003) or (ECON204 or ECON2004) or (AFIN250 or AFIN2050)
Corequisites Corequisites
Co-badged status Co-badged status
Unit description Unit description

This unit analyses the structure, functions and operations of the international financial system and its impact on the Australian economy. Student’s study the opportunities and risks from different financial products to a well-functioning financial system, which is critical to market-based economic systems. Topics may include international capital flows and balance of payments, analysis of foreign exchange markets and behaviour, corporate management of exchange rate risk, trade finance, international taxation and capital budgeting.

Important Academic Dates

Information about important academic dates including deadlines for withdrawing from units are available at https://www.mq.edu.au/study/calendar-of-dates

Learning Outcomes

On successful completion of this unit, you will be able to:

  • ULO1: Analyse the structure, functions and operations of the international financial system.
  • ULO2: Research and engage in international business decisions using the appropriate analytical tools.
  • ULO3: Describe and analyse the risks that businesses and investors may face in the international markets.

General Assessment Information

Late Submission Penalties

If you submit your assessment late, 5% of the total possible marks will be deducted for each day (including weekends), up to 7 days. Submissions more than 7 days late will receive a mark of 0.

Example 1 (out of 100):

If you score 85/100 but submit 20 hours late, you will lose 5 marks and receive 80/100.

Example 2 (out of 30):

If you score 27/30 but submit 20 hours late, you will lose 1.5 marks and receive 25.5/30.

Extensions

Automatic short extension: Some assessments are eligible for automatic short extension. You can only apply for an automatic short extension before the due date.

Special Consideration: If you need more time due to serious issues and for any assessments that are not eligible for Short Extension, you must apply for Special Consideration. Need help? Review the Special Consideration page for further details.

Assessment Tasks

Name Weighting Hurdle Due Groupwork/Individual Short Extension AI Approach
Skills development: Research and communication 25% No 11:55pm Mon 14 Sep 2026 Group No Open
Professional practice: Financial analysis 25% No 12/10/2026 Individual Yes Open
Formal examination 50% No During the University examination period Individual No Observed

Skills development: Research and communication

Assessment Type 1: Presentation task
Indicative Time on Task 2: 20 hours
Due: 11:55pm Mon 14 Sep 2026
Weighting: 25%
Groupwork/Individual: Group
Short extension 3: No
AI Approach: Open

The purpose of this assessment is for you to work collaboratively and develop expertise in crafting solutions to real-world related issues.
 
You will work in teams to examine real-world scenarios and produce and submit a video presentation in which all group members must present a part.
 
Skills in focus:
  • Critical thinking and problem solving
  • Communication skills
  • Collaboration skills
  • Discipline knowledge
  • Digital skills
  • Work readiness
Deliverable(s): Presentation
 
Group assessment
On successful completion you will be able to:
  • Analyse the structure, functions and operations of the international financial system.
  • Research and engage in international business decisions using the appropriate analytical tools.
  • Describe and analyse the risks that businesses and investors may face in the international markets.

Professional practice: Financial analysis

Assessment Type 1: Professional task
Indicative Time on Task 2: 15 hours
Due: 12/10/2026
Weighting: 25%
Groupwork/Individual: Individual
Short extension 3: Yes
AI Approach: Open

The purpose of this assessment is for you to practice how to investigate issues related to international finance and to construct a persuasive argument. You will work independently to express your discipline understanding as well as to apply the knowledge in real-world scenarios.
 
Skills in focus: 
  • Critical thinking and problem solving
  • Communication skills
  • Discipline knowledge
  • Work readiness
Deliverable(s): Written submission [max 1600 words]
 
Individual assessment
On successful completion you will be able to:
  • Analyse the structure, functions and operations of the international financial system.
  • Research and engage in international business decisions using the appropriate analytical tools.
  • Describe and analyse the risks that businesses and investors may face in the international markets.

Formal examination

Assessment Type 1: Examination
Indicative Time on Task 2: 35 hours
Due: During the University examination period
Weighting: 50%
Groupwork/Individual: Individual
Short extension 3: No
AI Approach: Observed

The purpose of this assessment is for you to demonstrate the expertise you have gained in this unit.
 
You will participate in a 2-hour, on campus, closed-book exam held during the University Examination period.
 
Important information about the exam will be made available on the unit iLearn page. You should also review the MQ Exams website for general tips. 
 
Deliverable(s): Formal exam
 
Individual assessment
 
On successful completion you will be able to:
  • Analyse the structure, functions and operations of the international financial system.
  • Research and engage in international business decisions using the appropriate analytical tools.
  • Describe and analyse the risks that businesses and investors may face in the international markets.

1 If you need help with your assignment, please contact:

  • the academic teaching staff in your unit for guidance in understanding or completing this type of assessment
  • Academic Success for academic skills support.

2 Indicative time-on-task is an estimate of the time required for completion of the assessment task and is subject to individual variation.

3 An automatic short extension is available for some assessments. Apply through the Service Connect Portal.

Delivery and Resources

The delivery format of this Unit is as follows:

1.      Two‑hour face‑to‑face lecture: Delivered on campus every Tuesday from 1 - 3pm in 14SCO T2 Lecture Theatre, with concurrent online access for students enrolled in the online offering. Each week’s lecture includes embedded in‑class discussions or activities to support engagement and active learning. All lectures are recorded live and later uploaded to iLearn via Echo360.

2.      One‑hour tutorial (in person or online): Your tutorial will be delivered either on campus or via Zoom, depending on your class registration. Each tutorial focuses on theoretical and real‑world‑related questions designed to strengthen your discipline knowledge, enhance your critical thinking and problem‑solving skills, and build your overall work‑readiness capability. These activities will also support your performance in the assessment tasks, particularly the final exam.

All materials for the unit, such as the lecture recordings, lecture notes, readings, and discussion questions will be available to students on the unit iLearn site at http://ilearn.mq.edu.au. Students are strongly encouraged to check the unit iLearn page weekly for announcements as well as the unit schedule, additional readings, assessment information, and discussion questions.

Recommended texts and other resources

Jeff Madura, Ariful Hoque, and Chandrasekhar Krishnamurti, International Financial Management, Cengage Learning, either Asia-Pacific edition (2018), or US edition (2021). (Older editions are fine too).

You can read the online text from the University library and here is the link:

https://ebookcentral.proquest.com/lib/MQU/detail.action?docID=6519331#

Geert Bekaert and Robert Hodrick, 2014 (2nd edition), International Financial Management, Pearson International. ISBN-13: 978-013-284-298-3

Alan C. Shapiro, Multinational Financial Management (11th Australia and New Zealand Edition), Wiley. ISBN: 9781119715979

https://www.wileydirect.com.au/blog/buy/multinational-financial-management-australia-and-new-zealand-edition/

Useful resources for this course:

Banking Weekly Podcasts - Financial Times: podcast.ft.com/banking-weekly

www.bloomberg.com

www.theeconomist.com (free access via the University library)

www.bis.org

www.wsj.com

IMF, FT, WSJ Podcasts channels

Technology Used and Required

ilearn; Programs for Video recordings

Unit Schedule

Week

Lecture

 

Assessment tasks

1

Topic 1: MNCs and international transactions

 

2

Topic 2: ER system, Forex markets & central bank intervention

 

3

Topic 3: Exchange rates: drivers and trading strategies (speculation, carry trade, arbitrage)

 

4

Topic 4: International Parity conditions (PPP, CIP, Fisher effects)

 

5

Topic 5: Currency derivative markets (forwards, futures, options, swaps)

 

6 & 7

Topic 6: Measurement and management of exchange rate risk

 

8

Topic 7: Multinational Capital Budgeting

Group Presentation (25%)

Due 11:55pm Mon 14 September 2026

 

Mid-session break

 

9

Topic 8: Capital structure & Int. Stock markets

 

10

Topic 9: Int. Debt markets & Debt Financing

Professional Practice (25%)

Due 11:55pm Mon 12 October 2026

11

Topic 10: International banking and Short-term financing

 

12

Topic 11: Financial Statecraft: Chokepoints, Crime and Economic Warfare

Guess Lecture: Prof. Sean Turnell

13

Topic 12 (tentative): International portfolio diversification and home bias

 

 

Final exam (50%): During the University Examination Period

 

 

Policies and Procedures

Macquarie University policies and procedures are accessible from Policy Central (https://policies.mq.edu.au). Students should be aware of the following policies in particular with regard to Learning and Teaching:

Students seeking more policy resources can visit Student Policies (https://students.mq.edu.au/support/study/policies). It is your one-stop-shop for the key policies you need to know about throughout your undergraduate student journey.

To find other policies relating to Teaching and Learning, visit Policy Central (https://policies.mq.edu.au) and use the search tool.

Student Code of Conduct

Macquarie University students have a responsibility to be familiar with the Student Code of Conduct: https://students.mq.edu.au/admin/other-resources/student-conduct

Results

Results published on platform other than eStudent, (eg. iLearn, Coursera etc.) or released directly by your Unit Convenor, are not confirmed as they are subject to final approval by the University. Once approved, final results will be sent to your student email address and will be made available in eStudent. For more information visit connect.mq.edu.au or if you are a Global MBA student contact globalmba.support@mq.edu.au

Academic Integrity

At Macquarie, we believe academic integrity – honesty, respect, trust, responsibility, fairness and courage – is at the core of learning, teaching and research. We recognise that meeting the expectations required to complete your assessments can be challenging. So, we offer you a range of resources and services to help you reach your potential, including free online writing and maths support, academic skills development and wellbeing consultations.

Student Support

Macquarie University provides a range of support services for students. For details, visit http://students.mq.edu.au/support/

Academic Success

Academic Success provides resources to develop your English language proficiency, academic writing, and communication skills.

The Library provides online and face to face support to help you find and use relevant information resources. 

Student Services and Support

Macquarie University offers a range of Student Support Services including:

Student Enquiries

Got a question? Ask us via the Service Connect Portal, or contact Service Connect.

IT Help

For help with University computer systems and technology, visit https://students.mq.edu.au/support/technology/service-desk. 

When using the University's IT, you must adhere to the Acceptable Use of IT Resources Policy. The policy applies to all who connect to the MQ network including students.

Unit information based on version 2026.06 of the Handbook