The international financial system 2600-MSFRz2MSF
Entry
The history of the financial system and its elements:
(a) Financial institutions
(b) financial markets
(c) financial instruments
(d) financial services
I. Architecture of the modern international financial system
1.1 Financial institutions
1.1.1 Categories of financial institutions
1.1.2 International institutions and their role
1.1.3 Regional institutions
1.2 Financial instruments
1.2.1 basic instruments
1.2.2 derivatives
II. Development trends of the financial system and instruments
2.1 Money and its institutional environment
2.1.1 Bullion money
2.1.2 Paper money
2.1.3 Electronic money
2.1.4 Cryptocurrencies
2.1.5 Currencies - futures and derivatives
2.1.6 The role of gold in the international financial system
2.1.7 Inflation/deflation – effects on the system
2.2 Introduction to international banking
2.2.1 Development of the banking system in the world - causes and effects
2.2.2 Panorama of the modern banking system and development trends
2.2.3 Nature and operations of international banking
2.3 Financial markets and their instruments
2.3.1 Capital market: institutional elements of the system
2.3.2 Alternative investment markets
2.4 Financial services
2.4.1 Banking services
2.4.2 Brokerage Services
2.4.3 Consulting Services and Ratings
2.5. Geography of contemporary financial markets
2.5.1 Major currency markets
2.5.2 Main stock markets - stock exchanges and commodity exchanges
2.5.3 International financial institutions
2.5.4 Other international financial markets
III. Systemic innovations and financial crises
3.1 Elements causing financial crises
3.2 Generations of crises
3.3 Case studies
3.4 Ways to solve problems
3.5 Methodology of country risk assessments by rating agencies
IV. Pathologies of the financial system
4.1. Corruption and the financial system
4.2. Crimes in financial markets
4.2.1 Market manipulation
4.2.2. Financial pyramids
V Institutions of the financial system as a source of financial information
5.1 Central banks (FED, ECB, NBP, Bank of England)
5.2 Corporate and investment banks
5.3 Stock markets
5.4 Ratings and rating agencies
5.5 Business intelligence agencies
VI. Main development trends in international financial markets
6.1 Sustainable finance – institutions, instruments and markets
6.2 Green finance – financial markets in the energy transformation
Course coordinators
Type of course
Mode
Learning outcomes
The student knows and understands:
K_W01 - Knows and understands in-depth research methodology and terminology in the discipline of economics and finance and in complementary disciplines (management and quality sciences, legal sciences), in particular in the area of international transactions and financial markets
K_W03 - Knows and understands in-depth the principles, procedures and practices regarding financial management in organizations, accounting, management of financial institutions and strategies of financial institutions, as well as the principles of operation of the international financial system
K_W05 - Knows and understands complex technological, social, political, legal, economic and ecological processes and phenomena, the principles of operation of the international financial system and their impact on financial decisions in organizations, the functioning of organizations and the entire economy, including the principles of protection of industrial property and copyright .
Student is able to:
K_U01 - Is able to use the theory of the discipline of economics and finance and complementary sciences (management and quality sciences, legal sciences) to recognize, diagnose and solve problems related to financial decisions in the organization and management of financial institutions, including on the international market, using the appropriate selection of sources and adapting existing or developing new methods
K_U02 - Is able to correctly interpret complex technological, social, political, legal, economic and ecological processes and phenomena (including on international markets) and their impact on financial decisions in organizations, the functioning of the organization and the entire economy, using the appropriate selection of sources.
The student is ready:
K_K01 - Is ready to assess and critically approach complex situations and phenomena related to financial management in organizations, accounting, management of financial institutions and strategies of financial institutions, including on international markets
Assessment criteria
Instead of the traditional way of checking the Student's knowledge, the lecturer expects an active approach to the subject throughout the semester and the ability to critically look at the functioning of the international financial system. The overall assessment will consist of the following elements:
1. written assignment,
2. effects of participation in mandatory exercises - topics highlighted during lectures, sent to Students' e-mail addresses,
3. activity in the room and on dedicated forums in social media - project topics presented during lectures and signaled in correspondence,
4. visit to the NBP Money Center (optional)
Bibliography
I. Basis:
Mishkin F.S, Ekonomika pieniądza, bankowości i rynków finansowych, PWN 2002
System finansowy w Polsce, praca zbiorowa, PWE, różne daty wydania,
II. Suplementary
Historia międzynarodowego systemu finansowego:
Niall Ferguson, Potęga pieniądza, Finansowa historia świata, Wydawnictwo Literackie, 2008, książka w formie serialu popularnonaukowego z udziałem Autora dostępna na You Tube pod tytułem ,,The Ascent of Money”.
Wizyta w Centrum Pieniądza NBP, informacje na stronach NBP
VOD serial popularnonaukowy ,,Czas pieniądza”, TVP Historia/NBP
Architektura… & Pieniądz…& Instrumenty
Górka Jakub, Konkurencyjność form pieniądza i instrumentów płatniczych, CeDeWu 2009
Górski Marian, Rynkowy system finansowy, PWN 2018,
Raport o rozwoju systemu finansowego, NBP, strony internetowe, czerwiec 2021
Sopoćko Andrzej, Rynkowe instrumenty finansowe, PWN 2021,
System finansowy w Polsce, praca zbiorowa, PWE, różne daty wydania,
Piramidy… & Przestępstwa
Materiały Komisji Nadzoru Finansowego, internet
Kryzysy finansowe …
Dusza M., Pouczające krachy giełdowe, w: Problemy Zarządzania, vol 1,(2)2003 otwarta licencja, strony internetowe, WZ UW
Dusza M., Chaos finansowy, w: Problemy Zarządzania, vol 15 (2) 2017, WZ UW
Kryzysy walutowe, praca zbiorowa, Wydawnictwo Naukowe PWN, Warszawa 2001
Morawski W., Kronika kryzysów gospodarczych, Wydawnictwo Trio, Warszawa 2003
Pietrzak E., 1992, Międzynarodowe operacje walutowe, BMiB, Warszawa
Rugman A.M., Hodgetts R.M., 2003, International Business, FT Prentice Hall, London
Shapiro A.C., 1999, Foundation of Multinational Financial Management, John Wiley & Sons, New York
Tarczyński W., Mojsiejewicz M., 2001, Zarządzanie ryzykiem, PWE Warszawa
Buckley A., 2000, Multinational Finance, FT Prentice Hall, London
Charbonszczewska E., Oręziak L., 2000, Miedzynarodowe rynki finansowe, SGH, Warszawa
Eiteman D.K., Stonehill A.I., Moffett M. H., 2001, Multinational Business Finance, 9th ed., Addison Wesley- Longman, Boston
Kozioł W., Zalewska M., 2017, Sustainable finance sector in Poland, w: Dantas A.T., Kozioł W., Siuda-Ambroziak R., (red), Brazil- Poland. Focus on Environment, Wyd. Naukowe WZ UW- UERJ Ed., Warsaw-Rio de Janeiro