FIN415 • Course Hub Spring 2026

Central hub for FIN415 (International Finance / Global Markets). Reference site from prior class: https://www.jufinance.com/fin415_25s/

Theme:

Quick Syllabus Snapshot

Key “need-to-know” items for FIN415 (Spring 2026).

Meeting, instructor, office hours

Meeting

Room: SIJU137

Days/Time: TR 2:00–3:15 PM

Instructor

Maggie Foley • Associate Professor of Finance

Email: mfoley3@ju.edu

Phone: 904-256-7772

Office: DCOBT 118A

Office Hours: T/TR 3:30–5:00 PM

Course Links

Course Home (26S)

Syllabus (PDF)

Term Project Page

MarketWatch Game (FIN415-26S)

Password: havefun

Bookmark these links.

Grading (weights) + quiz attendance

Component	Weight	Notes
Exams (2 midterms + final)	70%	Closed book / closed note
Homework	10%	Problems similar to HW may appear on exams
Term Project (ONE)	10%	Market case file (FX/commodities/geopolitics/CME)
Quizzes	10%	Short quiz at end of each class; also used as attendance check

Missing a quiz may negatively impact your grade. Communicate early if you anticipate an absence.

Key dates

First Midterm Exam: Thu, 2/19
Second Midterm Exam: Tue, 3/31
Final Exam: Thu, 4/30 (3:00–5:30 PM)

Required text

International Financial Management — Jeff Madura (14th ed.)

ISBN: 978-0357130544 • Purchase options via JU bookstore course finder.

Term Project (quick reminder)

Time window: Jan 1, 2026 → Apr 15, 2026. Choose one topic (silver / a country’s currency / USD), track weekly moves + causes, and tie to FX, parity, rates, geopolitics, commodities, and CME hedging.

Exams & Solutions

First Midterm Exam 2/19

In-class exam (closed book/notes). Study guide posted before the exam; solutions posted after.

Study Guide Solution (HTML)

Second Midterm Exam 3/31

In-class exam (closed book/notes). Study guide posted before the exam; solutions posted after.

Study Guide Solution (HTML)

Final Exam 4/30 • 3:00–5:30

Comprehensive (closed book/notes). Study guide posted before the exam; solutions posted after.

Study Guide Solution (HTML)

Trading Game Tools (FINVIZ + MarketWatch)

Use these for the class MarketWatch game. Open an app, pick candidates in Finviz, then size the trade properly.

Featured Video

MarketWatch game walkthrough

Short-Only Scanner (App)

Daily shorts with presets, risk tool, checklist.

Open Short App

Long-Only Position Builder (App)

Fundamentals + technical entries, sector mix planner.

Open Long App

MarketWatch Game Website

Create/join your class game (Virtual Stock Exchange).

Open MarketWatch Games

FINVIZ Screener

Run scans, then use the apps above for sizing & diversification.

Open FINVIZ

How to Win the MarketWatch Game

Risk 1% per trade (use the app calculator). Journal each trade.
Diversify (cap about 25% per sector). Avoid crowding one theme.
Entries: Long buy dips in uptrends; Short fade weak bounces.
News check: Don’t short fresh strong catalysts; ride positive drift on longs.
Protect winners: Take partials; trail stops near support/resistance.

Class Game Room (FIN415)

Join FIN415-26S Game

Password: havefun

Part I — Trade & Globalization

Silver (XAG) 1/15

Timeline + key drivers (rates, USD, inflation, geopolitics) with a long-run price chart.

Silver Game Silver Info

Silver Price Forecast Game — Student IDs Only (click to expand)

Target date: 4/15/26. Guess the silver spot price ($/oz) on that date. Closest guess earns +5 extra points. Posted as Student ID only (no names). If there is a tie, all tied students receive the extra points.

Student ID	Guess ($/oz)
01	273
02	100
03	115
04	190
05	146
06	227
07	103

Winner is the closest submission to the posted 4/15/26 spot price.

JPY/USD (FX) 1/15

Timeline + carry trade, BoJ policy, U.S. yields, and why flows shift (buy vs sell U.S. Treasuries).

Open JPY/USD Page

Module 1 Multilateral vs Bilateral Trade 1/20

Definitions, trade-offs, examples, and homework prompt.

Open module1.html

Class notes (brief)

“What does IO mean?” IO = international organization (treaty-based groups like WTO/IMF/World Bank) that set rules, coordinate policy, and provide tools (dispute settlement, lending, standards).
Stay vs exit IOs (quick takeaway): Staying trades some autonomy for rule influence + predictability; exiting trades influence for faster unilateral flexibility (often with higher uncertainty/retaliation risk).
Exam tip: Separate scope (2 vs 3+ countries) from depth (how many rules).

Module 2 Trade Policy & Tariffs 1/22

2025 tariff outcomes → what firms learned → 2026 focus on capital flows, FX pressure, and “capital war” risk.

Open module2.html

Class notes (brief)

What tariffs do mechanically: a tariff is a tax wedge on imports. In the short run, it usually shows up as higher prices, fewer choices, and supply disruption risk. In the long run, firms may rebuild supply chains (Mexico/Vietnam/India), automate, or onshore “critical” parts.
Key concept: Incidence (who pays) depends on elasticities. If substitutes are scarce, consumers pay more; if foreign producers have little pricing power, exporters eat it.
2026 shift (new language): beyond trade in goods, watch capital competition — reserve diversification, settlement experimentation, yield differentials, and FX policy responses. This is why Ray Dalio calls it “capital war” (money + power), not just trade conflict.
Career translation: this shows up in business as margin pressure, FX exposure, cost of capital, risk management, and scenario planning — the exact skills used in finance, consulting, logistics, and corporate planning.
What to watch (10 indicators): inflation (CPI/PCE), 10Y Treasury, USD strength (DXY concept), credit spreads, payrolls/unemployment, wage growth (AHE/ECI), oil (WTI/Brent), PMI (ISM), trade flows, and “funding stress” signals.
Mini assignment reminder: write ~300 words: current conditions + how you stay adaptable (skill + financial habit + career move).

Video: Ray Dalio on “capital war” fears (monetary order stress).
Open Video

Module 3 International Trade: BoP & Monetary System (1/27)

Balance of Payments basics + how trade/finance connects to monetary regimes.

Open module3.html

Class notes (brief)

Balance of Payments (BoP) = the country’s accounting: the “ledger” of transactions with the rest of the world.
Two core buckets: Current account (trade in goods/services + income + transfers) and Financial account (capital flows: bonds, stocks, FDI, bank flows).
Identity you must know: CA + FA + errors/omissions ≈ 0. If you run a current-account deficit, you must finance it with net capital inflows (or reserve drawdown).
Trade deficit is not “free money”: it means you’re importing real resources now and paying via claims on domestic assets (capital inflows) or reserve changes.
Exchange rate link: FX affects competitiveness and import costs; expectations about rates can also drive capital flows that move FX even faster than trade does.
Policy angle: when FX is fixed/managed, the central bank’s reserve position and credibility become central; under floats, FX can adjust but volatility rises.
Exam tip: when you see “deficit,” ask which account? and then state the offsetting flow (financial inflow, reserve change, or valuation effects).

Mini-check: If a country runs a large CA deficit and foreign investors stop buying its bonds, what pressures show up first: FX depreciation, reserve loss, or higher interest rates? (Answer depends on the FX regime.)

Module 4 Gold Standard → Bretton Woods → Reserve Currency → Crypto (1/29)

System shifts: anchors, constraints, and what “reserve currency” really requires.

Open module4.html

Class notes (brief)

Core theme: every system is about an anchor (gold, USD-to-gold, inflation credibility) and the constraints it imposes.
Gold standard tradeoff: strong credibility narrative, but weaker crisis response. Adjustment often happens via internal deflation rather than FX moves.
Bretton Woods mechanics: USD linked to gold (official channel), others pegged to USD, and capital controls helped preserve domestic policy space.
Why Bretton Woods broke: global demand for dollars grew faster than U.S. gold backing (confidence strain) + rising effective capital mobility (pressure on pegs).
Trilemma (impossible trinity): you can’t fully have all three: fixed FX, free capital mobility, independent monetary policy. Pick two.
Reserve currency conditions: (i) credible policy/institutions, (ii) security/geopolitical backing, (iii) deep safe-asset markets, plus (iv) convertibility and (v) network effects/payment rails.
Crypto vs stablecoins: crypto is mainly an asset with volatility; stablecoins are usually a USD-linked payment rail and can affect banks through deposit migration/run-style dynamics.
Exam tip: if asked “is this a competitor to USD?”, separate unit of account vs payment rail vs store of value.

One-sentence anchor: “Stablecoins are often less a new reserve currency and more a distribution channel for USD use—unless backing and settlement migrate away from USD assets.”