Firms (domestic and multinational firms alike) are operating in an increasingly competitive global market environment. Firms are directly or indirectly exposed to international competition and thus require an understanding of currency risk and international financial markets. This course aims at providing students with an in-depth knowledge of international finance theory and applications. Five interrelated topics are covered: (1) exchange rate risk, (2) determinants of exchange rates, (3) currency hedging, (4) international financing/investing activities, and (5) international financial markets.