This elective is jointly organized with Offenburg University for students from both universities. Consequently, lectures are delivered by one professor from each institution and equally take place at EM Strasbourg and Offenburg University (Campus Gengenbach). The elective aims to develop students’ ability to understand business in a globalized environment. Participants therefore explore key cross-border management issues relating to finance (mainly foreign exchange risks) and economics (mainly political and economic risks) from both a theoretical and a practical standpoint. By evaluating, through numerous exercises, the impact of cross-border risks and the effectiveness of transnational business activities, students learn how to come up with solutions to address identified issues, increase their own awareness of cross-border topics, and strengthen their collaborative skills thanks to binational in-class teamwork (intercultural learning athmosphere between French and German students).

Upon completion of this course, students should be able to
- (level 1) Present the central elements of the shareholder value governance approach as a key driver for globalization and international exchange.
- (level 5) Summarize the principal characteristics of the foreign exchange market and its relevance for companies working in a global environment.
- (level 3) Illustrate the three forms of foreign exchange risk that affect multinational firms in the context of their cross-border activities.
- (level 5) Categorize the most frequently used derivative instruments in the context of foreign exchange exposure.
- (level 3) Apply options in the context of a specific foreign exchange exposure.
- (level 5) Construct a hedging strategy based on futures to handle foreign exchange exposure.
- (level 6) Evaluate the overall usefulness of hedging operations by focusing on arguments in favor of and against hedging.