This subject introduces students to the operation of multinational enterprises (MNEs) in the international economy and global financial environment. The topics covered in the subject include the MNE, the international monetary system and international trade, foreign exchange rates and markets, the foreign exchange exposure of MNEs, sourcing international capital, foreign portfolio and direct investment and political risk. In particular, the operating, transaction and translation exposures of MNEs, and how these risks can be hedged, is examined in some detail. Students are introduced to these topics using a number of real-world examples and case studies.