Financial Crises

This course focuses on the two recent periods of intense financial market turbulence: The Great Financial Crisis of 2007-09; and the ongoing coronavirus pandemic. The course evaluates how the financial system fared during these two periods and the policymakers' response. Important questions include: What were the structural weaknesses of the US financial system that led to the severe recession of 2008-09? In the aftermath of the Great Financial Crisis, were these shortcomings adequately addressed? The course explores the state of the US financial system and monetary policy today in light of the experience of the past decade.