Syllabus

Title
2510 ExInt III: Elective: Advanced Foreign Exchange Risk Management for SMEs
Instructors
Assoz.Prof. PD Dr. Jakob Müllner
Contact details
Type
PI
Weekly hours
2
Language of instruction
Englisch
Registration
09/25/25 to 10/18/25
Registration via LPIS
Notes to the course
Dates
Day Date Time Room
Tuesday 10/21/25 10:00 AM - 12:00 PM D1.1.078
Tuesday 10/28/25 10:00 AM - 02:00 PM D1.1.078
Tuesday 11/04/25 11:00 AM - 03:00 PM D3.0.237
Tuesday 11/11/25 11:30 AM - 03:30 PM D2.0.326
Tuesday 11/18/25 11:00 AM - 03:00 PM TC.3.03
Monday 01/12/26 10:00 AM - 02:00 PM D3.0.233
Contents

The course covers foreign exchange hedging strategies, focusing on external hedging strategies and treasury. The course is designed to build on the FOREX management part of the course International Corporate Finance. This will include some content overlap (30%) to recap but 70% new content, practice and practitioner talks.  The course does not require advanced math or statistical skills. Fokus will be on treasury and hedging practice.

Specifically, students learn about:

  • Money market hedges
  • Futures
  • Forward Rate Agreements
  • Options
  • Combined Option Strategies
    • Synthetic Forward
    • Vertical Spread
    • Zero Cost Strategies

The course is complemented by  2-3  practitioner guest talks from banks and corporates. The course uses an applied perspective and does not include complex options pricing. 

Learning outcomes

Students understand

  • the hedging process
  • external hedging instruments

Students learn how to calculate hedging strategies in EXCEL. 

 

Attendance requirements

Attendance in all sessions is mandatory.

Teaching/learning method(s)

The course is divided into 2 sections. The first 3 sessions are content lectures with subsequent online assignments. Sessions 4 and 5 are practice sessions for calculations and guest talks. 

Assessment
  • Online assignments 30%
  • Participation 10%
  • Exam 60%
Prerequisites for participation and waiting lists

No specific requirements.

Readings

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Recommended previous knowledge and skills

International Corporate Finance

Availability of lecturer(s)

jakob.muellner@wu.ac.at

Last edited: 2025-10-03



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