What is International Finance? Is it a part of accountancy? Is it like FM? So many questioned buzz up when we read the name of this subject for the first time, well international finance is not like FM or accounts, its different all together, it’s got the word international in it so a little common sense will help you know that there is a connection with the foreign currency and the foreign exchange rates across the world. It is a very interesting theory cum practical subject and is among the favourite of most T.Y.BMSites who do not like complete theory subjects.
Why do I have to Study this subject?
Like we have the knowledge of Accountancy and financial management it is essential that we also have the knowledge of finance on an international level. These days all top companies and firms are going global and as business students we eventually aim to work for the best of the best, so having knowledge about international finance becomes a necessity for us in such cases.
Is it Boring?
No, in fact a lot of students who are not particularly fond of practical subjects have liked this subject and have really fond memories associated with this subject. “I am a total mug up case, and so I obviously disapproved of subjects where you have to solve a lot of sums. But IF is super interesting and I have fond memories of not just the theory but the sum solving as well. This is one of those subjects you can relate with, maybe that’s what makes it so interesting” says Bhumi Desai, BMS alumni.
Do I need a Coaching Class for this subject?
Yes, you surely do need a coaching class for this subject, IF is a very good subject as it helps out those who are strong with theory and those who are strong with practical sums as well. You might have a very good faculty at college for IF and if that is the case and you are very positive that you do not need a coaching class then it’s your choice but it’s preferable that you sign up for a coaching class, especially if you wish to score very good marks.
Is it Difficult?
Yes, if you do not practice IF will make you cry. It’s the University Paper and your very last semester you obviously cannot wish for easy subjects at such a crucial stage, but we students always wish for such stuff and sadly it’s not going to some true in this case!
What is the Syllabus for this subject?
The syllabus of this subject is as follows:
The syllabus is divided into 4 units as follows:
Unit I : Fundamentals of International Finance
Foreign Exchange Arithmetic I
Unit II : Foreign Exchange Arithmetic II
Exchange Rate Regimes
Unit III : International Foreign Exchange Market
Euro Currency Market
International Equity Markets
Unit IV : Foreign Exchange Management in India
Risk Management and Derivatives
- International Institutions
You can get the detailed syllabus and list of reference notes Here – International Finance Syllabus and Reference Books!
Where can I get Reference notes for this subject?
How can I Study this subject?
Before you start studying this subject there are certain thing you Must keep in mind:
- IF is not a complete theory or a complete practical subject so you cannot ignore any of the two.
- Practicing the sums for an hour a day is a must, the time you devote to theory is over and above that.
- Case studies in this subject will mostly deal with the current happenings in the field of economics so it is a must to be well aware of these, you can do so reading financial newspapers and online blogs on the world of finance.
- The financial jargon is a must in this paper, you may understand and write the answers as per your understanding but if you use the technical words mentioned it will surely have a positive impact on the marks you score.
- Formula sheets and mind maps are your life line for the sums and you must prepare both for each chapter. Divide every chapter as per the different section it has and then list down all the formulas in there so that you can refer and revise at any point of time.
A mind map basically is a tool used to make complex study material easy to understand and revise. It can be used for theory as well as practical subjects, in the case of IF you can list down the steps that are used to solve a particular type of sum, so that if you ever get stuck you can refer to those steps and get ahead without stopping or making any mistakes.
These mind maps are extremely helpful at the time of exam revisions as then you can revise each type of sum without actually having to solve it, it saves time and helps cover a lot more of the syllabus at the time of revision.
In order to study this subject start with the theory chapter wise, you must go unit wise as it will be easier that way. Read the theory as most of it is easy to understand and once you understand the theory you will be able to solve the sums quite easily. Try referring to one textbook that has a lot of questions to solve, as most of the textbooks available in the market have good theory explanation but as far as sum solving is concerned you need a lot of practice which is why you need a good textbook that will have ample amount of sums to solve.
Solving past question papers will also be beneficial while solving different types of sums, most of us purchase the past year university question paper book and there you will get a lot of questions to solve, solve those as you will get to know what kind of sums they ask in the exams and you will be able to understand where you stand as far as your preparation is concerned.
IF is not as tough as FM and so don’t be worried about passing in this subject, you must utilize this subject to score really good marks.
All the best 🙂