Question 1: Why is it important to study international financial management? How is international financial management different from domestic financial management? Please provide specific examples.
Respond = As simply put by authors Cheol S. Eun and Bruce G. Resnick (2012), international financial management must be studied because we live in a globalized and integrated world economy. Products and services are purchased and sold from all over the world. This integration has also allowed investors to expand their portfolios into more diversified options than available in a domestic market (p. 4). International financial management differs from domestic management because managers must understand finance and money on multiple levels and dimensions, where as domestic management consists of a singular and familiar level of understanding. For example, international finance deals with foreign currency, or multiple currencies if conducting business with multiple countries, where as in domestic finance a financial manager deals with their domestic currency in which they are familiar with.
Question 2 Use the Internet to research how the move to the Euro has impacted the overall economy of the European Union. Discuss how being tied to a single currency (the Euro) has impacted the different economies of the European Union. Provide specific examples (discuss specific countries) to support your response.
Question 3 The EU is a unique economic and political partnership between 28 European countries that together cover much of the continent.
The EU was created in the aftermath of the Second World War. The first steps were to foster economic cooperation: the idea being that countries who trade with one another become economically interdependent and so more likely to avoid conflict.
The EU has delivered half a century of peace, stability and prosperity, helped raise living standards, and launched a single European currency, the euro.
Thanks to the abolition of border controls between EU countries, people can travel freely throughout most of the continent. And it's become much easier to live and work abroad in Europe.