Bubbles, Panics & Crashes: A Long Period Assessment of the Causes & Consequences of Financial Crises - ECO00018H
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Department : Economics and Related Studies
Module co-ordinator : Prof. Sue Bowden
Credit value : 20 credits
Credit level : H
Academic year of delivery : 2022-23
See module specification for other years:
2021-22
Related modules
Module will run
Occurrence
Teaching period
A
Spring Term 2022-23
Module aims
To introduce students to the:
Recurrent nature of financial crises
Nature and causes of speculative booms
Importance of the role of the lender of last resort
Role played by regulation, liquidity and credit constraints
Extent to which monetary expansion underpins such crises
To enable students to:
Evaluate the economic cost of such crises
Appreciate how, in given time periods, policy responses may or may not have been appropriate
Module learning outcomes
On completing the module, students will have a clearer understanding of the:
Recurrent nature of financial crises
Nature and causes of speculative booms
Importance of the role of the lender of last resort
Role played by regulation, liquidity and credit constraints
Extent to which monetary expansion underpins such crises
Economic cost of such crises, and
How, in given time periods, policy responses may or may not have been appropriate
Assessment
Task
Length
% of module mark
Online Exam -less than 24hrs (Centrally scheduled) Bubbles, Panics & Crashes
2.5 hours
100
Special assessment rules
None
Reassessment
Task
Length
% of module mark
Online Exam -less than 24hrs (Centrally scheduled) Bubbles, Panics & Crashes
2.5 hours
100
Module feedback
Feedback will be given in line with University guidelines
Indicative reading
Carmen M. Reinhart & Kenneth S. Rogoff. This Time Is Different: Eight Centuries of Financial Folly. Princeton: Princeton University Press, 2009.
Charles P. Kindleberger and Robert Z. Aliber. 2011. Manias, panics and crashes : a history of financial crises. 6th Edition. Basingstoke, Hampshire: Palgrave Macmillan, 2011.
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