Course Information
Introduction and Background

The Course strives to promote knowledge and understanding of Financial Globalization which is understood as the integration of a country's financial system with international financial markets and institutions. This integration takes place when the local financial sector and the capital account are liberalized and the local borrowers and lenders are active participants in the international financial markets and users of international financial intermediaries.
Due to the depth and the increasing role of Financial Globalization, it is of great importance to examine its process and impact, including the potential benefits and disadvantages. This task appears to be particularly topical in light of the current global crisis.

Registration Status: OPEN
Deadline for Enrollment: when slots are full
Course Dates: November 1 to December 3, 2010
Estimated learning time: Minimum of 35 hours
Format: Online/Internet-based (asynchronous)
Language of Instruction: English
Fees: US $ 400/-
Helpline: UNITAR Geneva (Course Administration and Technical Questions)
  Course Objectives  
At the end of the course, the participant should be able to:

1. Differentiate between "development finance" and "diversification finance" in Financial Globalization;

2. Identify the driving forces of, and the role of governments, borrowers, investors, and financial institutions in Financial Globalization;

3. Identify potential benefits or risks of Financial Globalization both in developed and developing countries; and

4. Determine financial crises affecting financial globalization and propose measures to prevent such problems.


  Target Audience  

Government officials, auditors of SAIs, financial experts, academics, university/college students.

  Course Structure / Outline  

This course will comprise of the following modules.

Module 1: Concepts and History of Financial Globalization
This module would focus on both the traditional view of "development finance" and the new era might be called "diversification finance" of Financial Globalization. This module would also review the main agents of Financial Globalization: governments, borrowers, investors and financial institutions.

Module 2: Financial Openness and Patterns of Financial Globalization
This module would address the traditional and alternative approaches to measuring financial openness, as well as the patterns of Financial Globalization.

Module 3: Impact of Financial Globalization
This module would analyze the loads of potential benefits, risks and a net effect of Financial Globalisation in the cases of the developed and developing countries.

Module 4: Causes of the Financial Crisis and Policy Options
This module would focus on the interrelationships between the Financial Globalization and the causes of the financial crises, including the current crisis, as well as past ones. What policy actions are needed for minimizing and averting the financial crisis?

  Other Course-related Information
This course will be conducted over the internet using UNITAR's e-Learning infrastructure for a five-week period. Participants will require a minimum of 90 minutes of study each day. The course pedagogy will allow for three levels of interaction. At the first level, the participants will interact with the training content. At the second level, the participants will interact with other participants to share experiences and learn in a contextual manner (using an online discussion board facility). At the third level, the participants will interact with a seasoned international negotiator (course mentor) who will moderate the course for its entire duration. At the core of this course is a set of online interactions and discussions, each of which will be coached by an expert.

UNITAR online courses attempt to create a networked learning environment, in which participants have the flexibility to learn at their own convenience and pace but also are able to interact with peers and experts through the discussion board facility.

This online course will be conducted in the English language.


This course is designed as an online course in which participants will be primarily responsible for their own learning. Each lesson will consist of the following components:

1) Basic Reading Materials (Compulsory Reading Materials): these materials are intended to educate the participants about the basic concepts and principles applicable to the subject-matter of the lesson. It will include, where appropriate, sample materials. These materials will constitute the required reading materials for the lesson

2) Advanced Reading Materials (Optional Reading Materials): this will consist of optional reading materials for participants who wish to learn more about the topic than what is covered in the lesson.

3) External Links: This will refer the interested participants to additional books, articles, documents, and websites that deal with the issues raised in the lesson.

4) Quizzes: At the end of each lesson there will be a set of quizzes for participants to answer. These quizzes are designed to test the participant's understanding of the lesson. Participants are required to pass each quiz and obtain at least 80% or more passing grade in order to be eligible for a certificate. All quizzes will need to be taken online.

5) Community Discussion Board: There will be a community discussion board available on which participants can post questions or comments that can be seen by the instructor and the other participants. This discussion board will be moderated by the course director and UNITAR. Structured discussion strings will be posted on a weekly basis.

All successful participants will be eligible to a certificate after completion of this online course.


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