In this course, we focus on managerial finance from an international perspective. Firms operate and compete internationally and have to adapt to a rapidly changing environment. In this course, we cover three main issues in multinational finance. First, we investigate the institutional and operational characteristics of international financial markets. We provide an overview of the international financial system and its main players, as well as a framework of international parity conditions to enable a deeper understanding of currency risk. Second, we analyze different financial instruments and strategies that firms can use to cope with currency risk. Hereby, we introduce currency swaps, currency options and currency futures. Third, we focus on financial and non-financial MNC strategies with respect to hedging FX risk because of foreign market entry and cross-border investments.