Global Financial Markets
Instructor's Materials

A guide to the workings of the world's currency, money and capital, commodities and derivatives markets.

by Ian H. Giddy, Stern School of Business, New York University

Instructor's Guide Electronic Update Computerized Test Questions The FOG Yin and Yang Power Play Powerpoint Slides The author The Stern School

1. Instructor's Guide

The Instructor's Guide contains a guide to teaching the contents of each chapter, solutions to all questions, problems and applications, and transparency masters.
For information about academic purchases or adoption contact Houghton Mifflin Faculty Services (1-800-733-1717), or fax them at 800-733-1810.
Note: The Instructor's Guide contains some errors. Sorry! I am compiling the corrections into a single document. To get it when it's ready, send me an email. Available only to adopting instructors, so please state who you are and the name and email address of your publisher's rep.

2. Electronic Update

This is now available on the Internet

3. Computerized Test Questions

All the questions and problems in the book, plus a few others, with answers, are on a disk in Wordperfect 6.0 format (readable by recent versions of Microsoft Word). Instructors can use them to select and adapt items for tests. They are available free to adopting instructors from the publisher. (If you have trouble getting it, send an email.)

Separately, I have developed a full set of on-line quizzes, both self-test and "real" quizzes, for my international finance course. These are designed to be used with WebCT, a Web-based course tool which allows students to go onto the Web any time and take the quiz and, at the instructor's discretion, obtain feedback in the form of suggested solutions (see sample in Adobe Acrobat format). The questions can be automatically graded or hand-graded by the instructor. These may be purchased for instructor use for $375 for the set. To see it in action, send a request to and you'll be assigned a special, temporary, password.

(A similar set is available for a Foundations of Finance course.)

4. The FOG trading game

This is a foreign exchange options trading simulation in Lotus 1-2-3 for DOS format. It appears to work in Excel, but is not fully tested. The single-user price of the program, with instruction sheets, is US$20. A one-semester site licence, enabling an instructor to make copies for students, costs US$50.

A souped-up version of FOG, called Eurofog, designed to simulate Eurocurrency option trading, is also available at the same price. It runs in Lotus 1-2-3 Version 4 for Windows.

 A professional version of Eurofog, Eurofog Pro, used by banks in their training programs, is available for $40 or $250 for an academic site licence. This is written in Visual Basic and runs in Windows. It does not require any spreadsheet program. [Currently unavailable, pending revisions.]

5. Yin and Yang, a swap negotiation game

This swap negotiation simulation is designed to emphasize the mechanics and principles of interest rate swaps and, to a lesser extent, currency swaps. The core is a fixed-floating swap matching the needs of Basket Bancorp of Miami with those of Sushi Bank of Tokyo, with either Metrobank or Global Bancorp of New York intermediating.

 Each team is given a Participants' Guide and team-specific information sheet on the basis of which a swap is to be negotiated. After group discussion, the teams convene for interactive negotiation on the risks and terms of the swap. Finally they reconvene for a plenary session.

 The materials, with instructor's guide, are available for $25 to adopting instructors from the author.

5. Power Play, an international project financing negotiation/case study

This cross-border investment case study, also suitable as a negotiation simulation, uses real information about a proposed investment in a power project in Hangzhou, China. The case materials include background information on China and similar project, excerpts from sample contracts, a roadshow Q&A from a comparable project, and a detailed Excel spreadsheet which the instructor would normally make available to students. The spreadsheet can be used, among other things, to show the effect of taxes on the optimal financing mix. A summary of the case, as I use it with my students, may be downloaded here. The materials, with the Excel spreadsheet and a PowerPoint presentation (see sample), are available for $50 from the author.

6. A complete set of PowerPoint slides

Developed for my International Financial Management course, these lecture supplements have become an essential adjunct to my course and have proved useful to a number of other lecturers, even those not using Global Financial Markets. The package consists of 20 slideshows, with an average of about 40 slides per lecture (see sample),. In addition to the subjects covered in the book, they include financial management topics such as international capital budgeting, foreign exchange exposure, applications of value-at-risk to international treasury management, international taxation and international accounting.

The set is available for $500 from the author.

(A similar set is available for a Foundations of Finance course.)

6. On-line Courses

On-line versions of this and other courses are sometimes available to be taken in tandem with the classroom lectures.

Most materials will be made available for download from a special Website upon receipt of payment in US funds.
Requests for materials should be made to Payment should be in the form of a check made out to "Ian H. Giddy" and sent to:

Ian H. Giddy
119 West 82nd Street
New York, NY 10024

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Global Financial Markets is published by Houghton Mifflin, 2075 Foxfield Road, St. Charles, Illinois 60174, USA.
To order individual copies call 800-225-1464.
For information about academic purchases or adoption contact Faculty Services (1-800-733-1717), or fax them at 800-733-1810.

Go to Giddy's Web Portal Contact Ian Giddy at