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This course examines financial crises and panics throughout history and the lessons that policy makers and market participants should draw from past events. Crises studied may include the Dutch tulip bubble, the South Sea Bubble, the Crash of 1929, the Great Depression, Junk bonds, the Asian financial crises, LTCM, Enron, and the Global Financial Crisis. We will examine the causes, events, and consequences of these crises on the participants and the economy in general. A particular emphasis will be placed on the policy implications one can draw from these periods: what types of regulation work, and what does not work.
Intended learning outcomes
On successful completion of this subject students should be able to:
- Explain the background to, progression of and resolution to selected financial crises;
- Develop a sound knowledge of the major crises examined in the subject;
- Explain how these crises affected the global economy and markets in the long- and short-run;
- Critically analyse which policy measures helped to prevent future crises and which were ineffective.
On successful completion of this subject, students should have improved the following generic skills:
- Oral communication
- Written communication
- Problem solving
- Critical thinking
- Evaluation of data
- Ability to draw conclusions from disparate empirical evidence
Last updated: 18 December 2020