The discipline studies the structure of international financial markets and the role of the global financial system in intermediating capital flows between economies. It analyzes key operations such as arbitrage, speculation and hedging, which contribute to market dynamics and allow students to manage the risks associated with international exchanges. Particular emphasis is placed on the equilibrium of international financial markets, exploring the mechanisms by which capital supply and demand reach points of stability. The discipline also addresses global financial crises and the phenomenon of financial contagion, illustrating how disturbances in one economy can spread rapidly internationally, affecting global financial stability. By understanding these concepts, students gain a broad perspective on global financial interdependence and the strategies used to navigate and manage the complexities of international risks in the context of modern financial markets.