Monetary Systems & Exchange Rates

level of course unit

First Cycle

Learning outcomes of course unit

Students should get clear understanding both of fundamental principles of the theory of international finance and of the most recent trends in the multinational financial management with a special focus on European financial system and its interactions with the world finance.
Recent history of national and regional monetary systems and the current state of International Monetary System and of its most important institutions will be presented.
Practical knowledge and skills regarding the modern methodologies and techniques for the determination of the Foreign Exchange Rates for the needs of multinational businesses will be acquired.

prerequisites and co-requisites

Some knowledge of elementary financial mathematics

course contents

1. History and Modern State of the International Monetary System
2. Modern International Monetary Theories
3. Foreign Exchange (FE) Markets and FE Derivatives Markets
4. Practical Methodologies for Determination of Exchange Rates
5. Risk Management in Foreign Exchange Business

recommended or required reading

1. “International Finance. A Practical Perspective”, Adrian Buckley. Pearson, 2012.
2. “International Finance for Dummies”, Ayse Y. Evrensel. Wiley, 2013.
3. “International Economics. Theory and Policy”, Paul R. Krugman, Maurice Obstfeld and Mark Melitz. Pearson, 11th ed., 2018.
4. “International Economics”, Robert C. Feenstra and Alan M. Taylor, Worth Publishers, 3rd ed., 2014.

assessment methods and criteria

Final examination

language of instruction


number of ECTS credits allocated


eLearning quota in percent


course-hours-per-week (chw)


planned learning activities and teaching methods

Presentation, discussion, single and group work, face-to-face

semester/trimester when the course unit is delivered


name of lecturer(s)

Dr. Vladimir Zenevitch

course unit code


type of course unit

integrated lecture

mode of delivery


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