International Finance and Regulation

Programme Overview

Following the international financial crisis of 2007-2008, global businesses and governmental leaders have taken profound measures to change the structure of the financial markets and ensure such a crisis does not happen again. This is the activity of financial regulation, which is the attempt of authorities to control economic risks and the focus of this course in International Financial Regulation. Students will learn about the liberalisation of international financial markets, the development of international regulations in response to crises, and how the most recent watershed has shaped the current global economic environment. The course will equip students with an understanding of key elements in financial regulation, such as the International Monetary Fund and the World Bank, as well as important historical events, including the Breton Wood Conference of 1944 and the Herstatt Bank failure of 1974. Students will explore the benefits and challenges of liberalisation related to saving and investments, market forces on government action, and the creation of derivative instruments aimed at managing risk, among other relevant topics.

Learning Outcomes

1. Analyse the key features behind the development of the global financial system.
2. Assess the risk factors that increase the probability of an international financial crisis.
3. Evaluate the main theories about the role of regulation, with reference to international finance.
4. Demonstrate knowledge of the key financial institutions in the post-financial crisis world.
5. Examine how the Covid-19 outbreak, the emergence of Cryptocurrencies and the conflict in Ukraine are affecting the global financial system.