IBUS 4622 International Finance in Brazil
Undergraduate Global Enrichment in BrazilProgram Dates:
This program is open and accepting applications on a rolling basis for January 2025. If you submit an application after April 1, please email the program manager, Mary Krebs.
Class Sessions: Tues/Thurs 3:40-5:20pm, 2024 Fall Semester B-term
Overseas Program:Â Saturday, January 4, 2025 - Saturday, January 18, 2025, dates subject to change
Program Details
When you travel outside the United States, you do not use dollar bills to make purchases, right? Nearly every country operates with its own form of currency, and the value of this currency in comparison to the dollar (or any other currency) is known as the exchange rate. These rates play a crucial role not just for travelers but also for businesses. Numerous companies either procure materials, sell their goods on the international stage, or operate as multinational entities with establishments overseas.Â
In this course, you are going to discover how to navigate these rates, understand their fluctuations, and most importantly, recognize that predicting exchange rate movements in the short term is largely a gamble. So, what is the strategy when facing unpredictable risks? You safeguard against them, much like purchasing insurance. Hence, this class will cover how corporations protect themselves against exchange rate risks with derivative contracts. You will also learn how multinational companies assess international projects.
Brazil ranks as the fifth most populous country in the world and the largest economy in South America. But with intense natural beauty from it's lush rainforest and extensive coastlines, Brazil is a also vibrant cultural powerhouse of sights, sounds, tastes and love of life. The program will start in the financial capital of São Paulo and then heads north to Rio de Janeiro, Brazil's art and culture scene.Â
The program hotel(s) will be conveniently located to program activities. Hotel specifics will be provided to participants in the program orientation. Because networking and community-building are essential components of the program, the expectation is that students will share a room with another program participant. If there are other accommodations that would support a student's access and inclusion on the program, there is an opportunity to request such preferences in the Housing Request Form after confirmation in the program. Guests are not permitted during the program. Breakfast will be provided daily at the hotels. A welcome dinner and closing dinner are also included in the program fee.
- 4 Finance (FINA) elective credits or 4 Finance & Risk Management elective credits are allotted.
- A-F grading
- Prerequisites: CSOM major, Fina 3001 or 3001H, 4121 or 4121H, 4221. Students may complete 4121 in A-term immediately prior to start of IBUS 4622 in B-term, but must pass the course in order to participate in 4622. Â
- Credit will not be granted if credit has been received for FINA 4622
- Prerequisites: CSOM major, Fina 3001 or 3001H, 4121 or 4121H, 4221. Students may complete 4121 in A-term immediately prior to start of IBUS 4622 in B-term, but must pass the course in order to participate in 4622. Â
- Priority will go to students who have 100+ credits. If you are a student with alternative considerations, such as DRC accommodations for a reduced course load, please contact the Program Manager to discuss how we can support your application.
- Non Carlson students accepted on a space available basis after the priority deadline
- Students with a GPA below 2.0 will be conditionally accepted pending a conversation with the Program Manager about academic success
U.S. citizens will need a valid passport to travel to Brazil. If you already have a passport, you need to check the expiration date and confirm that it is more than seven months after the program ends. If you do not have a passport, or your passport needs to be renewed, you will need to apply for one immediately upon confirmation.
A visa is a document that proves that travel into a particular country has been approved by their governing body. U.S. citizens WILL NEED an e-visa for visits up to 90 days for tourism in Brazil. Program Manager, Mary Krebs, will provide more information upon acceptance. Non-U.S. passport holders should check with the Brazilian consulate regarding visa requirements and fees. A consulate is a foreign government's official place of residence and representation in a foreign country. While consulates provide passports, birth registration, and many other services, they also have consular sections which issue visas for foreign citizens to visit, study, and work in their country. If you carry a passport other than a U.S. passport and are required to carry a visa into Brazil, you will be responsible for securing your visa; you will work closely with the Program Manager (Mary Krebs) to make sure you have any University-specific documentation that you need.
To apply, please visit the Apply page. Students will be charged a $50 application fee. The application cycle starts on March 1, 2024 and the priority deadline is 12:00 pm (noon) on April 1, 2024. Applications for programs that do not fill by the priority deadline will be accepted on a rolling basis until full. Applications to competitive programs will be selected via lottery. Students will be informed of their application decision in about seven to ten days after the priority deadline.
This is anticipated to be a very competitive program and space may be limited. Applications received after the priority noon deadline may not be reviewed if the volume of applications received by the priority deadline is too high.Â
Most financial aid may be applied to study abroad. University of Minnesota students are eligible for education abroad scholarships. Please see Financial Aid and Scholarships for more information.
Up to 30 University of Minnesota undergraduate students.
Classes are Tues/Thurs 3:40-5:20pm, 2024 Fall Semester B-term. This course will be taught by Juliana Salomao, Assistant Professor in the Finance Department. The pre-departure classes are a fundamental component of the curriculum. These pre-departure classes are partly discussion-based given the broad range of diverse and complex challenges faced in international business, and therefore the quality of the student experience is dependent upon all students attending and participating in the pre-departure classes.
In order to be eligible to participate in the international portion of this class, students must maintain satisfactory academic performance as determined by the instructor. If your academic performance prevents you from participating in the international component of the course, you will not receive a refund of the program fee. Please bring any concerns about this directly to the Program Manager (Mary Krebs).
The program starts with a city tour and welcome dinner. The program includes guest lectures, company visits, and cultural activities. Included in the program is time for a small amount of independent exploration.
Please contact Program Manager, Mary Krebs, if you have additional questions about the schedule.
Cost Estimate (Summary)
Fees are based on estimates and may change due to international economic factors. This information applies to 2024-2025 programs.
* Students should also maintain their U.S.-based health insurance plan while abroad.
** Costs are estimated for U.S. passport holders only. Non-U.S. passport holders should check with the Brazilian consulate regarding their visa application process and costs.
All costs are subject to change prior to departure.
| 2024-2025 Tuition for 4 academic credits (included in the 13+ credit tuition plateau) | $0 |
| Program Fee (including group international flight, lodging, program events, regional transportation, breakfast daily, two group meals, and international health insurance*) | $5,800 - To be confirmed |
| International airfare to and from Minnesota to Brazil (included in Program Fee, above) | $0 |
| Hotel Accommodation (included in Program Fee, above) | $0 |
| Passport and Photos** | $165 |
| Brazilian E-Visa (US passport holder rate)** | $81 |
| Textbooks | $100 |
| Daily Living Expenses (local transportation, incidentals, international data and calling, laundry, etc.) | $300 |
| Meals (lunch and dinners not included in Program Fee) | $400 |
| Total Estimate | $6,846 |