The objective of the course is to provide students with a structured understanding of geofinance and its interaction with geopolitics, with particular emphasis on the role of the global monetary and financial system, the instruments of financial and economic statecraft, and their implications for geopolitical competition and the international economic order. The course contributes to the development of the following general and subject-specific competences.

General competences (learning outcomes)
- Ability to think analytically and critically and to synthesize complex economic and financial issues.
- Ability to understand the broader economic, political and institutional environment shaping financial markets and institutions.
- Ability to independently search for, interpret and use relevant academic and professional sources.
- Ability to discuss complex financial and economic issues and present arguments clearly in written and oral form.
- Ability to work collaboratively and participate in structured discussions and problem-solving.

Subject-specific competences (learning outcomes)
- Understanding of the concepts of geofinance and financial statecraft and their role in the global economy.
- Ability to analyze the international monetary and financial system, including reserve currencies, global financial institutions and capital flows.
- Ability to understand and assess financial and economic instruments of geopolitical power.
- Ability to analyze the impact of geopolitical developments on financial markets, financial stability and the global monetary system.
- Ability to critically interpret contemporary international financial and geopolitical developments and their policy implications.

1. Foundations of geofinance: concepts, definitions and evolution
- Conceptual definition and theoretical foundations of geofinance at a juncture of finance and geopolitics.
- International interdependencies and relationships between states.
- Key sources of financial and economic power in international relations.
- Geofinance in a historical context.

2. Enabling factors of geofinance: global monetary and financial architecture and linkages
- The role of global currencies: international monetary system, reserve currencies, the US dollar dominance and the quest for dollar alternatives.
- The role of financial infrastructures: financial markets, payments systems, messaging, clearing & settlement systems; geopolitical fragmentation of financial infrastructures; blockchains, cryptocurrencies and stablecoins.
- The role of international financial institutions and central banks: geopolitics of the IMF, the World Bank and the BIS; monetary power of key central banks (particularly the Federal Reserve); emergence of alternative institutions and regional arrangements (e.g. BRICS institutions).
- The role of international capital flows and investment positions: types and drivers of cross-border capital flows and investment positions; global patterns of financial interdependencies between major economies and geopolitical risk.

3. Implementing tools of geofinance: instruments of financial and economic statecraft
- Financial instruments: financial sanctions, asset freezes, capital restrictions, control of access to financial markets and global financial infrastructure.
- Investment instruments: investment policy and control over capital flows (portfolio and FDI); investment screening, the role of sovereign wealth funds and private institutional investors.
- Development finance instruments: development assistance, foreign aid and multilateral development banks as instruments of influence.
- Exchange rate instruments: competitive devaluations/depreciations, currency undervaluation.
- Trade instruments: trade policy, tariffs and export controls as geopolitical tools.
- Industrial policy instruments: technological competition and state aids, industrial strategies, technology transfer coercion, industrial espionage, production overcapacity and market dumping.

4. Geofinance during geopolitical conflict
- Economic warfare and the strategic use of financial and economic instruments in geopolitical confrontation.
- Sanctions regimes and economic coercion between major powers.
- War finance and financial mobilization during geopolitical conflict.
- Financial resilience, sanctions evasion and countermeasures.

5. Systemic implications and strategic responses
- Fragmentation of the global economic and financial system.
- Emergence of alternative financial infrastructures and payment systems.
- Strategic responses of states and regions to geofinancial pressures.
- Implications for global financial stability and the future of the international economic order.