Innovations in global financial markets and products have long shaped corporate financial and operating strategies. These markets are vast and diverse, covering foreign exchange, commodities (energy, agricultural, and metals), stocks, and bonds (interest rates). The objective of the course is to provide a solid understanding of how these markets and products function, and how they influence the strategies of market participants in such sectors as manufacturing, natural resources and energy, commercial and investment banking, and money management (pension funds, hedge funds, mutual funds, and foundations). This understanding is essential for executives of corporations that tap global markets to obtain new financing or to reduce financing costs, and of corporations that face significant financial or commodity risks and use global financial markets to manage these risks; bankers who make markets domestically and abroad (euro-market) and provide liquidity for the corporate sector; and investment managers who participate in global financial markets as part of active as well as passive investment strategies.
The course strikes a balance between theory and applications. To this end, the course material includes cases, textbook chapters, and articles written in practitioners’ journals—directed to executives and high-level managers. Relevant and current articles from the public press are discussed as well. The course also includes exercises/projects using real-time data. Applications span the four markets of foreign exchange, commodities and energy products, stocks, and fixed income instruments. Industries covered include airlines, automakers, oil and gas, hedge funds, university foundations, power utilities, theme parks, and commercial and investment banks.
The course provides knowledge that is essential for any top managerial positions in global companies whether in the financial or non-financial sectors. Shorter term, the course benefits students going back to or starting careers in sales and trading, investment banking and corporate finance, risk management, consulting, portfolio management (mutual, pension, and hedge funds).