Preface 1 THE WORLD OF INTERNATIONAL FINANCE PART I THE MARKETS FOR FOREIGN EXCHANGE 2 AN INTRODUCTION TO EXCHANGE RATES 3 FORWARD EXCHANGE 4 CURRENCY FUTURES AND OPTIONS MARKETS PART II THE DETERMINATION OF EXCHANGE RATES 5 THE BALANCE OF PAYMENTS 6 SUPPLY-AND-DEMAND VIEW OF EXCHANGE RATES PART III THE FUNDAMENTAL INTERNATIONAL PARITY CONDITIONS 7 THE PURCHASING-POWER-PARITY PRINCIPLE 8 INTEREST PARITY PART IV MANAGING FOREIGN EXCHANGE RISK AND EXPOSURE 9 FOREIGN EXCHANGE EXPOSURE AND RISK 10 ACCOUNTING EXPOSURE VERSUS REAL EXPOSURE 11 OPERATING EXPOSURE 12 HEDGING RISK AND EXPOSURE 13 EXCHANGE-RATE FORECASTING AND SPECULATION PART V INTERNATIONAL INVESTMENT AND FINANCING 14 CASH MANAGEMENT 15 PORTFOLIO INVESTMENT 16 CAPITAL BUDGETING FOR FOREIGN INVESTMENTS 17 THE GROWTH AND CONCERNS ABOUT MULTINATIONALS 18 INTERNATIONAL DIMENSIONS OF LONG-TERM FINANCING PART VI INSTITUTIONAL STRUCTURE OF INTERNATIONAL TRADE AND FINANCE 19 MULTINATIONAL BANKING 20 INSTRUMENTS AND INSTITUTIONS OF INTERNATIONAL TRADE PART VII THE INTERNATIONAL MACROECONOMIC ENVIRONMENT: THEORIES AND PRACTICES 21 ASSET-BASED THEORIES OF EXCHANGE RATES 22 ALTERNATIVE SYSTEMS OF EXCHANGE RATES 23 THE INTERNATIONAL FINANCIAL SYSTEM: PAST, PRESENT, AND FUTURE.