The Economics of Financial Crisis

Catalog description

In this course, we introduce analytical tools of economic policy, macroeconomics and finance to understand the causes and recognize the "symptoms" of market economies' financial crises. We also review the "cures'': policy prescriptions, structural reforms and banking Industry regulatory changes that are used or considered to correct fiscal imbalances, currency, banking crises, debt crises while drawing upon the experiences of financial crises in the United States, Europe, Latin America, China and the Middle East. Particular attention will be paid to debates on policy measures focusing on ex ante "preventive policies" rather than "corrective measures", their recommended levels of monetary, fiscal stimuli and financial sector reforms.