International Trade and Finance

1. International Finance
   1. Exchange Rate Systems
      1. Fixed Exchange Rate
         1. Definition and Mechanism
         2. Historical Examples
         3. Advantages and Disadvantages
         4. Implications for International Trade
      2. Floating Exchange Rate
         1. Market Determination of Rates
         2. Advantages and Challenges
         3. Impact on Economic Stability
      3. Managed Float
         1. Definition and Examples
         2. Central Bank Interventions
         3. Policy Implications
      4. Currency Pegs
         1. Types of Pegs (Hard, Soft)
         2. Stability and Volatility
         3. Case Studies
   2. Foreign Exchange Markets
      1. Spot Markets
         1. Definition and Operation
         2. Determinants of Spot Rates
         3. Major Players and Transactions
      2. Forward and Futures Markets
         1. Concept and Mechanism
         2. Hedging and Speculation
         3. Pricing and Valuation
      3. Currency Swaps
         1. Structure and Purpose
         2. Benefits and Risks
         3. Usage in Risk Management
      4. Forex Trading and Speculation
         1. Major Currencies and Trading Pairs
         2. Role of Speculators
         3. Impact on Currency Volatility
   3. Balance of Payments
      1. Current Account
         1. Components: Goods, Services, Income, Current Transfers
         2. Surpluses and Deficits
         3. Implications for Exchange Rates
      2. Capital Account
         1. Definition and Components
         2. Types of Capital Transfers
      3. Financial Account
         1. Key Elements: Direct Investment, Portfolio Investment, Other Investments
         2. Importance in Global Financial Flows
      4. Surpluses and Deficits
         1. Causes and Consequences
         2. Adjustment Mechanisms
         3. Impact on National Economies
   4. International Capital Flows
      1. Foreign Direct Investment (FDI)
         1. Types of FDI: Greenfield vs. Brownfield
         2. Motives and Impacts
         3. Host and Home Country Effects
      2. Portfolio Investment
         1. Composition: Equities and Bonds
         2. Risks and Returns
         3. Influence on Stock Markets
      3. Remittances
         1. Economic Significance
         2. Role in Developing Economies
         3. Impact on Poverty and Development
   5. International Financial Institutions
      1. International Monetary Fund (IMF)
         1. Governance and Structure
         2. Condition-Based Lending Programs
         3. Crisis Prevention and Resolution
      2. World Bank Group
         1. Objectives and Operations
         2. Major Projects and Initiatives
         3. Role in Development Finance
      3. Bank for International Settlements (BIS)
         1. Central Bank Cooperation
         2. Research and Statistics
         3. Functions in Monetary and Financial Stability