5 August 2016
The Global Financial Crisis and its Lessons for Theory and Practice
This course aims to give the student an overview of financial crises over the centuries, background and origin of the crises and recessions which seem to be a perennial feature of free market capitalism. The course will explore why mainstream economic theory has become inadequate as a framework for understanding the financial aspects of contemporary capitalism and the student will get to know the background and origin of the 2008 Crisis, the greatest economic crisis since the Great Depression of 1929.
The relevance of the ideas of Keynes and Minsky, the lessons of the crisis and policy reform including monetary policy, financial regulation, macroprudential policy, fiscal policy and exchange rate and capital account management will be discussed in detail. Further, the course will cover experiences of policy reforms in the USA, the UK, EU, China and India.
Upon completion of the course students will be able to understand the factors that contributed to the Crisis and also its implications for the design of economic policy, short term and long term, in all its multifarious aspects.
EUR 340: Danish and EU/EØS (tomplads): 340 EUR
EUR 852: NON-EU-EØS students (free-mover): 852 EUR