International Finance
Kedge Business School · 2026
The course builds a set of operational models of how international financial markets work, and then spends most of its time on where they break — informational efficiency, financial crises, regulation and behavioural finance, mostly through papers. A second objective is what a more responsible practice of finance would look like after 2008.
No textbook. Reference: Mishkin, F.S. & Eakins, S.G. (2008), Financial Markets and Institutions, 7th ed., Pearson. Course description and announcements are on LEARN.
Slides open in the browser. → and ← move between them, O gives the
overview, F is fullscreen, and E then print produces a PDF. A PDF handout is
linked next to each session.
2 · The international financial system, continued To come
3–4 · Securities markets To come
5–6 · Financial institutions and firms To come
7 · Regulation Individual assignment
8 · Security analysis Group presentations, in groups of five
9 · Regulation To come
10 · Final examination
Read the paper before the session it belongs to.
- Sessions 1–2 — Monasterolo, I. (2020), Climate Change and the Financial System, Annual Review of Resource Economics 12
- Sessions 3–4 — Sartzetakis, E.S. (2021), Green bonds as an instrument to finance low carbon transition, Economic Change and Restructuring 54
- Sessions 5–6 — Muñoz, F. (2020), How do the size and independence of the board of trustees affect the financial and sustainable performance of socially responsible mutual funds?, Corporate Social Responsibility and Environmental Management 27(4)
Individual assignment — 20% 20 minutes, no documents allowed Session 7
Group work, security analysis — 40% Groups of five, 12-minute presentation Session 8
Final examination — 40% Individual, written, documents allowed Session 10
A calculator is required for most sessions.
Before session 1 Read Monasterolo (2020). Bring a calculator. Start thinking about a security you might analyse for the group work — a specific one, with a ticker.