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Crises

Instructor: Indradeep Ghosh

The 2008 Global Financial Crisis highlights the importance of understanding the myriad ways in which financial and macroeconomic systems are susceptible to episodic collapse. This course will teach students:

  • A brief history of financial crises during the last 100 years
  • How, in most of those cases, crises were precipitated by macroeconomic mismanagement leading to the buildup of speculative asset price bubbles
  • How speculative asset price bubbles form (via a classroom experiment designed to simulate bubble formation)
  • The specific features of the 2008 Global Financial Crises, especially the role of structured finance, the malfunctioning of debt markets, and the over-leveraging of financial institutions
  • How a financial crisis causes economic activity to collapse, with specific reference to the examples of Japan after 1991, and the US and Europe after 2008
  • What kinds of preemptive policies can prevent the buildup of speculative asset price bubbles
  • What kinds of post-crisis policies can prevent the collapse of economic activity
  • How to analyze the current world economic scenario where a new crisis originating in China or some other emerging market may erupt
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Economics Data Science

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