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Bubbles, Panics and Crashes: A Long Period Analysis of the Causes & Consequences of Financial Crises - ECO00038H

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  • Department: Economics and Related Studies
  • Module co-ordinator: Dr. Matthias Morys
  • Credit value: 20 credits
  • Credit level: H
  • Academic year of delivery: 2024-25
    • See module specification for other years: 2023-24

Module summary

This module explores the recurrence of financial crises in the international economy from a long-period perspective.

Related modules

Pre-requisite modules

Co-requisite modules

  • None

Prohibited combinations

  • None

Additional information

pre-requisite - principles of economics

Module will run

Occurrence Teaching period
A Semester 1 2024-25

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
Closed/in-person Exam (Centrally scheduled)
Bubbles, Panics & Crashes: A Long Period Analysis of the Causes and Consequences of Financial Crises		 3 hours 100

Special assessment rules

None

Reassessment

Task Length % of module mark
Closed/in-person Exam (Centrally scheduled)
Bubbles, Panics & Crashes: A Long Period Analysis of the Causes and Consequences of Financial Crises		 3 hours 100

Module feedback

Feedback will be provided in line with University policy

Indicative reading

B. Eichengreen, Globalising Capital: A History of the International Monetary System, Princeton University Press 2022.

C. Kindleberger, Manias, panics and crashes: A history of financial crises, Palgrave MacMillan 2015.

K. Rogoff and C. Reinhart, This time is different! Eight centuries of financial follies, Princeton University Press 2010


The information on this page is indicative of the module that is currently on offer. The University is constantly exploring ways to enhance and improve its degree programmes and therefore reserves the right to make variations to the content and method of delivery of modules, and to discontinue modules, if such action is reasonably considered to be necessary by the University. Where appropriate, the University will notify and consult with affected students in advance about any changes that are required in line with the University's policy on the Approval of Modifications to Existing Taught Programmes of Study.