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EIB E216M: The Economics of International Financial Crises

Course Description

The first half of the course focuses on the basic economics of banking and international finance. It reviews the economics of banking, international financial markets and exchange rate determination, and the financial implications of current account imbalances. It also examines the implications of leverage for the solvency of households, firms, governments and banks. The second half of the seminar focuses on the three major post-1970s financial crises, i.e. the Latin American crisis of the 1980s, the Asian Crisis of the 1990s and the Eurozone crisis of the 2010s. The systemic as well as the country specific causes and consequences of the three crises are also examined in detail. One-half credit.
Not offered AY 2017-2018, 2018-2019.