About The Course
Financial Markets play an important part in assuring the efficiency of the economy, creating economic growth and development for many countries. However, we are also experiencing more and more economic turbulence erupting from the activities of financial markets which raises questions regarding the essential roles of the Central Bank especially in conducting Monetary Policy as well as managing the banking system and financial markets. There are two main parts to this course. The first part explains the functions and structure of Financial Markets, helping students to understand the meaning and behaviour of interest rates. That serves as the background for the second part, in which money and monetary policy theory and strategies will be introduced. Both parts will highlight the management roles of the Central Bank. This is an SMU-XO course hence students will have a chance to work on real-world projects faced by the Central Bank of Vietnam, related to the conduct of monetary policy and/or the management of financial markets in Vietnam. That allows students to further apply classroom knowledge and theory to practical problems for real organizations.
Reflection
Vietnam is a country that has been on my bucket list for a very long time. While my father was born in Ho Chi Minh, he refused to ever go there again. But because of that the country has a certain charm to me. So, when I came to know that there was an SMU-X course going there, I knew that I had to take it. The fact that the course dabbled in macroeconomics in a more professional context only made the course more irresistible to me. The chance for personal discovery and professional development was what I wanted to do on this trip.
That was surely what I got to do. Consulting the State Bank of Vietnam (SBV) was the main purpose of the trip. My team and I had the opportunity to tackle the topic of “The Slowdown of the Chinese Economy and its Implication on Vietnam”. The topic was of personal interest to me, as I had done previous research on China, and it gave me the chance to know more about the Vietnamese economy. As we prepared the presentation, our team received invaluable input from the SBV partner, where we were exposed to the real-world implications of our recommendation and analysis. Truly it was an unforgettable experience.
Besides the project itself, I believe that many of the side activities not only enhanced our understanding for the project but also made us understand a new point of view. There were sessions with the lead economist of BIDV – one of Vietnam’s largest banks - which opened our eyes to how different banking is in Vietnam compared to Singapore. Cultural visits to the Temple of Literature and the Hoa Lo Prison Museum gave us the chance to fully appreciate the rich history of the country.
However, I believe another invaluable thing that I got from the trip was the new friends I made. Throughout the course, we were lucky enough to be paired with students from the Hanoi School of Business (HSB) and they truly made the trip worthwhile. Our exciting trips with the students of HSB made me appreciate the new connections that I made. Moments, when they took us to eat local food such as bun dau mam tom, buncha, and chao suon, were one of my cherished memories from the trip. Not forgetting to mention our full-day trip to Ha Long Bay, where even the HSB students were mesmerised by the natural beauty of the islands.
As I end the journey, I have no regrets. It was one of the highlights of my year. I would do this trip all over again and I encourage everyone to participate in a SMU-X Overseas module if they ever have the chance to.
Thank You Notes to Benefactors
I would like to thank the benefactors who have made it possible for me to go on this SMU-X Overseas Course. As a student who is currently under financial aid to pursue my studies at SMU, I never expected that I would be able to also go on an overseas trip with SMU. The course fulfilled my curiosity in real-world macroeconomics application, and it has given me the invaluable opportunity to work together with the Central Bank of Viet Nam.
