Seoul, South Korea
Area of Study
Taught In English
Course Level Recommendations
Upper Language/ Lower Content
ISA offers course level recommendations in an effort to facilitate the determination of course levels by credential evaluators.We advice each institution to have their own credentials evaluator make the final decision regrading course levels.
Recommended U.S. Semester Credits3
Recommended U.S. Quarter Units4
Hours & Credits
This course provides a basic knowledge of international nance. Emphasis is on techniques of nancial decision making and policy analysis covered in the course. Topics include the law of one price, arbitrage-free transaction, nancial markets in the open economy, exchange rate determination, macroeconomic policy and nancial crises.
1. Basic Tools
(a) Arbitrage and nancial decision making (b) The time value of money (c) Interest rates
(a) Exchange rate and Foreign currency market
3. Arbitrage-free approach
(a) Prices in the open economy: PPP (b) Uncovered and covered interest rate parity conditions (c) General equilibrium approach
4. Open macroeconomics
(a) Fixed prices: the Keynesian and Mundell-Fleming models (b) Sticky prices: the Dornbush model
5. Financial crisis
(a) Optimum currency areas and monetary union (b) Crisis and credibility
6. Financial Derivatives
(a) Currency swap (b) Interest rate swap (c) Futures (d) Forwards
Robert C. Feenstra and Alan M. Taylor, International Economics, Worth, Second Edition
Courses and course hours of instruction are subject to change.
Credits earned vary according to the policies of the students' home institutions. According to ISA policy and possible visa requirements, students must maintain full-time enrollment status, as determined by their home institutions, for the duration of the program.
Please reference fall and spring course lists as not all courses are taught during both semesters.
Availability of courses is based on enrollment numbers. All students should seek pre-approval for alternate courses in the event of last minute class cancellations
Please note that some courses with locals have recommended prerequisite courses. It is the student's responsibility to consult any recommended prerequisites prior to enrolling in their course.