Finance internationale et gestion du risque (GEST902_DAFAY)

Volume horaire

CM : 10h / TD : 10h


Over the last twenty years, we have seen a rapid development in risk management activities of market participants including banks, traders and corporations by using diverse financial instruments. Such an evolution is largely driven by the forces of globalization in trade and investment. This course aims to provide an understanding of risk management in an international setting, with a particular emphasis on interest rate risk and foreign exchange risk. Various hedging instruments (derivative products) are covered with examples and applications.


Basic knowledge about financial markets and good skills in elementary algebra and financial mathematics.

Plan du cours

Topic 1 : Course overview, introduction to various risk exposures of corporations,  different approaches towards risks and empirical evidence, derivative products and derivative markets.

Topic 2 : Introduction to international finance (determination of exchange rates, and their relationship with interest rates and inflation, valuation of foreign cash flows)

Topic 3 : Management of interest rate risk (duration hedging)

Topic 4 : Management of foreign exchange risk


You may use the books listed below as references, however, the main building blocks are the lecture slides and other required materials, which will be made available via Moodle.

 -  Financial Markets and Institutions, global edition, by Frederic S. Mishkin and Stanley G. Eakins; Pearson 2018.

 - Principles of Corporate Finance, by Brealey, Myers and Allen, 10th edition.

- Options, Futures, and Other Derivatives, 10th edition, by John C. Hull, 2017.

Diplômes intégrant ce cours

En bref

Crédits ECTS : 2

Méthode d'enseignement
En présence

Langue d'enseignement


UFR, Écoles, Instituts


Haina Ding

Responsable du M1 DAF

Tél : +33 4 50 09 24 22

Email : Haina.Ding @


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