Finance and Accounting | Custom PHD Thesis

Finance and Accounting
Task 1 and Task 2,one is essay and one is repport: choose The Philippines currency

Project description
The assessment consists of two parts, namely empirical study and small essay. Each 
part accounts for 50% of the final mark of this module. The required word count is 
4,000 words in total excluding tables and graphs. This represents 2,000 words in total 
for empirical study and 2,000 equivalent words for small essay. For each part of the 
assessment, a 10% + / – on the word limit is acceptable choose The Philippines currency.
 
please see more information in document (FIN9003M Assessment 13-14 pdf) please read carefully that.
and i also upload some useful document for you .. that from my lecture and seminar.
if you have any question just let is me know. thank you

International Finance
Assessment
Unit Title:
International Finance
Unit Code:
FIN9003M
Level:
Postgraduate Diploma
Credits:
15 CATS points
Subject:
Finance
Department:
Lincoln Business School
Unit Coordinator
Dr Mi Lin
mlin@lincoln.ac.uk
Office: BL3202
Office number: 01522 886284
Pre
–
requisites:
None
Co
–
requisites:
None
Barred Combinations:
None
H
and
–
in
D
ate
:
29 April, 2014
This module will be assessed by the equivalent of one 4,000 word
written assignment.
The assignment for this module consists of an individual assignment.
A.
Learning outcomes covered
1.
Critically discuss the relationship between exchange rates, interest rates, and prices
using models of exchange rate determination.
2.
Evaluat
e the determination of current account and international business co
–
movement.
3.
Critically review the operation of the exchange rate systems.
4.
Predict and critically assess the financial and macroeconomic impacts of exchange
rate
fluctuations and exchange ra
te policies.
B.
Assessment
The assessment consists of two parts, namely empirical
study
and small essay.
Each
part accounts for 50% of the final mark of this module.
The required word count is
4,000 words in total
excluding tables and graphs
. This represents
2,000 words in total
for empirical study and 2,000 equivalent words for small essay.
F
or each part of the
assessment,
a 10
%
/
+
–
on the word limit is acceptable.
Empirical
Study
:
Please c
hoose
ONE
of the following
question
s
for
your
empirical study
and
prepare a
2,000 word written report.
You should submit your dataset
and program
with report
for evaluation
.
1.
Test for
Risk Premia in Foreign Exchange
Markets
:
FT.com (UK) reports spot and forward
exchange rate of other currencies aga
inst
Sterling.
You can download these data from FT.com data archive:
http://markets.ft.com/RESEARCH/Markets/Data
–
Archive
.
Choose one out of 35 currencies (SDR not included)
for your a
nalysis.
1
Use the
data of last date for each month as monthly data, collect spot rate
(denoted as
S
t
)
,
1
–
month forward rate
(denoted as
F
t
)
,
and
3
–
month forward r
ate
(denoted as
3
t
F
)
from
January 2000 to December 2013
.
Make use of t
he STATA programs on the
blackboard to prepare a
nswer
for
the following questions:
a)
Produce a graph of the £/
c exchange rate, where c denotes the currency you
have chosen
.
Provide your comments on the graph. Any abnormal observation
s
(outlier
s
)?
Double che
ck with the FT.com data archive to make sure these
abnormal observations are not due to the errors you made during the data
collection process.
If they are not error inputs, are there any unexpected events
(news) associated with these observations?
b)
Produ
ce a graph for monthly forward discount
()
tt
sf
–
and provide your
comments
, where
s
t
=
l
n
(
S
t
)
and
f
t
=
l
n
(
F
t
)
.
c)
Produce a summary statistics table for the variables in your dataset.
d)
Download
STATA program
‘ex_risk_premia.do’
from blackboard. Modify the
program to run the following regression
s
:
1
If you
would like to work on this question
, you should
sign up for
the currency you would like to
choose
by 28
th
Feb
2014
. Each currency can only be chosen by
at most 3 students.
Sign up
sheet for
this
question
will
be available
at the reception of Business and Law building
from 24
th
Feb
2014
by
following ‘
fist
–
come, first
–
served
’ principle.
Test for the existence of a risk premium on the 1
–
month horizon
by
including
the lagged
forward discount as a regressor:
111
()
ttttt
sfsf
aße
—
–
=+
–
+
Test for th
e existence of a risk premium on the 3
–
month horizon
by
including
the 3
–
month forward discount, lagged three months, as a regressor
:
33
333
()
ttttt
sfsf
aße
—
–
=+
–
+
where
f
t
–
3
3
=
l
n
(
F
t
–
3
3
)
e)
Interpret your
regression
results
.
Do you find evidence
f
or the presence of risk
premia
in foreign exchange market?
Provide your comments on
uncovered
interest rate parity (UIP) and covered interest rate parity (CIP)
base
d
on your
regression
results
.
2.
Test for
Long
–
run Purchasing Power Parity
(PPP):
Read Chapt
er 14 of the following textbook
(essential reading of this module)
:
Robert C. Feenstra and Alan M. Taylor. International Economics. Worth
Publishers: 2
nd
Revised edition, International Edition (13 April 2011). ISBN
–
10:
1429269030. ISBN
–
13: 978
–
1429269032.
Design a
framework
to test
for
absolute PPP and relative PPP
following monetary
approach. You should use both
graphical illustration
and
econometric
method.
Provide your comment
and interpretation on the evidence you find.
Data
needed
for this questio
n can be found from
UNCTAD Statistics
website:
http://unctad.org/en/pages/Statistics.aspx
.
2
Y
ou
r report should
contain
:
a)
Theoretical
justification of your
framework
.
b)
Summary statistics of your da
taset.
c)
E
mpirical evidence followed by comment and interpretation.
2
If you would like to work on this question, you should sign up for
a pair of countries
you would like
to choose by 28
th
Feb
20
14
. Each
pair of countries
can only be chosen by
at most 3 students.
Sign up
sheet for this
question
will be available from 24
th
Feb
2014
at the reception of Business and Law
building
and we will
follow
‘fist
–
come, first
–
served’ principle.

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