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Studies & Degrees in International Finance

International finance studies how money moves across borders. It covers exchange rates and currency markets, the balance of payments, international capital flows, the financing of trade and foreign investment, and the way companies and banks manage risk when they earn, borrow or invest in more than one currency. It draws on both economics, for the behaviour of countries and markets, and corporate finance, for the decisions of a single firm.

Few institutions teach it as a degree with that exact name. It is usually a specialisation within a finance, economics or international business degree, a group of elective subjects, or the focus of a master's programme.

What students learn

The base is the same as in any finance degree: accounting, statistics, microeconomics and macroeconomics, corporate finance and financial markets. The international subjects are added on top:

  • currency markets and exchange rate risk
  • international financial institutions and regulation
  • financing of multinational companies, trade finance and cross-border mergers and acquisitions
  • international portfolio management and derivatives
  • international taxation and accounting standards

The Minor in International Finance & Banking at CUNEF Universidad in Madrid gives an idea of the content: its subjects include currency markets, global structured finance, investment banking and international portfolio management. Quantitative skills and English matter in this field, because much of the professional material and many programmes are in English.

Qualifications and levels

  • Bachelor's degree. In the European Higher Education Area a bachelor's degree has 180 or 240 ECTS credits, and 60 credits correspond to one full year of study. In Spain the bachelor's degree (grado) has 240 credits. International finance appears as a track or minor; the CUNEF minor has 21 ECTS credits, is taught in English and is taken alongside a bachelor's degree.
  • Master's degree. A master's degree usually has 90 or 120 ECTS credits in Europe and 60, 90 or 120 in Spain. The Máster Universitario en Finanzas at CUNEF is an official degree of 60 ECTS credits, taught on campus in Spanish or English, with specialisations in corporate finance, investment banking, and investment and financial markets.
  • Business school programmes. Business schools often combine an official degree with a qualification of their own. For its Máster en Finanzas (60 ECTS, Spanish and English), EAE Business School states that students in Barcelona obtain an official Máster Universitario en Dirección de Finanzas from the Universitat de Lleida and the school's own Máster de Formación Permanente en Finanzas. Always ask which of the two a programme awards.
  • Vocational training. In Spain the higher vocational qualification Técnico Superior en Administración y Finanzas gives a practical start in company finance and administration.
  • Short courses and study abroad. Summer schools and semester programmes offer single courses in international finance that can be credited by the home university.

Where to study international finance

SpainExchange lists 22 active schools for this subject in 12 countries. Nine are in Spain, two in Italy and two in the United States, and there is one each in Turkey, France, the Czech Republic, Mexico, Austria, Germany, the United Kingdom, Ecuador and Bulgaria.

In Spain the schools are concentrated in Madrid and Barcelona and include universities, such as CUNEF Universidad, and business schools, such as EAE Business School, alongside study abroad providers that teach in English. Programmes are offered in Spanish, in English or in both. Outside Spain the list ranges from universities to summer programmes and business schools with courses in English.

When comparing programmes, check whether the degree is official in its country, the language of instruction, how much mathematics and statistics is required for admission, and whether the programme includes an internship or a period at a partner institution abroad.

Careers

Graduates work in the treasury and finance departments of companies that trade internationally, in commercial and investment banks, asset managers, insurers, consultancies, central banks and international organisations. Typical first jobs are financial analyst, risk analyst and treasury or trade finance officer.

The figures below are for the United States, from the Bureau of Labor Statistics (BLS). Financial analysts research and evaluate financial data, forecast future trends and prepare reports with recommendations for businesses and investors. BLS projects that their employment will grow 7 percent from 2025 to 2035, with about 29,500 openings a year. Financial managers, who are responsible for the financial health of an organisation, are projected to grow 10 percent over the same period, with about 65,600 openings a year. That role typically requires a bachelor's degree and five years or more of experience in another business or financial occupation.

Frequently asked questions

Is international finance a separate degree?

Rarely. It is usually a specialisation, minor or master's focus within finance, economics or international business. The CUNEF minor of 21 ECTS credits is an example of how it is added to a bachelor's degree.

How long does a master's degree in finance take?

That depends on the credits. A 60 ECTS master's degree, such as the Máster Universitario en Finanzas at CUNEF, corresponds to one full academic year; programmes of 90 or 120 credits take longer.

Can I study international finance in English in Spain?

Yes. The CUNEF minor is taught in English, and both CUNEF and EAE Business School list their finance master's programmes in Spanish and English.

What background do I need?

A good level of mathematics and statistics and an interest in economics. For a master's degree, schools usually ask for a first degree in business, economics or another quantitative field; check each school's admission page.