Interest Rates and Foreign Exchange Markets

I.     Course Prefix/Number: GBS 250

       Course Name: Interest Rates and Foreign Exchange Markets

       Credits: 3 (3 lecture; 0 lab)

II.    Prerequisite

GEG 130 Recommended

III.   Course (Catalog) Description

Course examines the foreign exchange situation domestically and world wide.  Content includes dollar exchange rates; spot, forward, futures and options markets; appropriate history and economics/finance topics.  Focus is on foreign exchange from the viewpoint of the trader of currencies, the hedger and the international importer/exporter.

IV.   Learning Objectives

Students will be able to:      
  • Explain the working knowledge of money and its properties.       
  • Evaluate the proper relationship of monetary and fiscal policy and its impact on the economy.
  • Assess the market conditions of an international market and the role of their Exchange.
  • Evaluate the impact of changing interest rates on global trading and entry of new businesses.

V.    Academic Integrity and Student Conduct

Students and employees at Oakton Community College are required to demonstrate academic integrity and follow Oakton's Code of Academic Conduct. This code prohibits:

• cheating,
• plagiarism (turning in work not written by you, or lacking proper citation),
• falsification and fabrication (lying or distorting the truth),
• helping others to cheat,
• unauthorized changes on official documents,
• pretending to be someone else or having someone else pretend to be you,
• making or accepting bribes, special favors, or threats, and
• any other behavior that violates academic integrity.

There are serious consequences to violations of the academic integrity policy. Oakton's policies and procedures provide students a fair hearing if a complaint is made against you. If you are found to have violated the policy, the minimum penalty is failure on the assignment and, a disciplinary record will be established and kept on file in the office of the Vice President for Student Affairs for a period of 3 years.

Please review the Code of Academic Conduct and the Code of Student Conduct, both located online at

VI.   Sequence of Topics


  1. The Political Model
  2. The Global Electorate
  3. The Electorate Understands Economics
  4. Capital
  5. Production
  6. Money and Tax Rates
  7. The Stock Market and the Wedge
  8. The Failure of Economic Models
  9. The Building of Empires
  10. The Breakdown of Bretton Woods.
  11. 16 Mundell & Mises.                          

VII.  Methods of Instruction

Lectures, discussions, cases, current articles
Course may be taught as face-to-face, hybrid or online course.

VIII. Course Practices Required

College level reading and writing skills are necessary.  Emphasis is placed upon class participation, online research, presentations, small group, team work, critical analysis of cases.

Course may be taught as face-to-face, hybrid or online course.

IX.   Instructional Materials

Note: Current textbook information for each course and section is available on Oakton's Schedule of Classes.

The Way the World Works; Wanniski, 2009

X.    Methods of Evaluating Student Progress

Class Participation, Quizzes, Final Examination. Country evaluations.

XI.   Other Course Information

If you have a documented learning, psychological, or physical disability you may be entitled to reasonable academic accommodations or services. To request accommodations or services, contact the Access and Disability Resource Center at the Des Plaines or Skokie campus. All students are expected to fulfill essential course requirements. The College will not waive any essential skill or requirement of a course or degree program.

Oakton Community College is committed to maintaining a campus environment emphasizing the dignity and worth of all members of the community, and complies with all federal and state Title IX requirements.

Resources and support for
  • pregnancy-related and parenting accommodations; and
  • victims of sexual misconduct
can be found at

Resources and support for LGBTQ+ students can be found at

Electronic video and/or audio recording is not permitted during class unless the student obtains written permission from the instructor. In cases where recordings are allowed, such content is restricted to personal use only. Any distribution of such recordings is strictly prohibited. Personal use is defined as use by an individual student for the purpose of studying or completing course assignments.

For students who have been approved for audio and/or video recording of lectures and other classroom activities as a reasonable accommodation by Oakton’s Access Disabilities Resource Center (ADRC), applicable federal law requires instructors to permit those recordings. Such recordings are also limited to personal use. Any distribution of such recordings is strictly prohibited.

Violation of this policy will result in disciplinary action through the Code of Student Conduct.