ELE 3732 Financial bubbles, crashes and crises

ELE 3732 Financial bubbles, crashes and crises

Course code: 
ELE 3732
Department: 
Law and Governance
Credits: 
7.5
Course coordinator: 
Knut Sogner
Course name in Norwegian: 
Financial bubbles, crashes and crises
Product category: 
Bachelor
Portfolio: 
Bachelor - Electives
Semester: 
2017 Autumn
Active status: 
Active
Level of study: 
Bachelor
Teaching language: 
English
Course type: 
One semester
Introduction

The US. Sub-Prime crisis and the subsequent global financial crisis have contributed to a deep and prolonged recession in the global economy. What were the causes of the recent financial crisis? Why did it spread so rapidly internationally? How have authorities in affected countries dealt with them?

There are different and often competing theories about the causes, effects and how to deal with financial crises. The course will provide an overview of the varying approaches and schools of thoughts on financial instability. Furthermore, the course will focus on a selection of historical cases on financial crashes and crises in order to demonstrate differences as well as similarities between recent and past crises.

Learning outcomes - Knowledge

Since financial crises affect most areas of the economy, knowledge about them is of importance to most people who work on economic issues.

The students shall acquire a broad base of theoretical and empirical knowledge on financial stability and financial crises in a historical perspective. The students will also learn about regulatory issues and central aspects of crisis management in the past and how they relate to current problems.

 

Learning outcomes - Skills

The students will acquire skills necessary to distinguish between different theories about causes and effects of financial crises, and apply this knowledge for analytical purposes. Moreover, students will obtain the skills to work on tasks within supervision, the development of financial structure, ratings and the rating industry, etc. Acquired knowledge will also be important for management tasks in business and the civil service.

Learning Outcome - Reflection

On completion of the course the students will have a solid basis for ethical reflection upon ethical dilemmas connected to unfolding financial crises and have developed ability for critical theoretical and methodological reflection.

Course content

The coursewill address the following themes:

  • Theories on financial crises
    • Minsky-Kindleberger
    • The Monetarist school
    • Other approaches
  • Domestic debt and sovereign debt crises
  • Regulation and supervision
  • Four historical and comparative cases
    • The Nordic banking crises, 1987-1995
    • The Wall-street crash, the great depression and the crises of the 1930s
    • The Scandinavian banking crises of the 1920s
    • The US. subprime crisis 2007-2009 and the subsequent global financial crisis
Learning process and requirements to students

The course consists of lectures, casework/assignments and presentations.

Software tools
No specified computer-based tools are required.
Additional information

For electives re-sit is normally offered at the next scheduled course. If an elective is discontinued or is not initiated in the semester it is offered, re-sit will be offered in the electives ordinary semester.

Qualifications

Higher Education Entrance Qualification.

Required prerequisite knowledge

No specific prerequisites required.

Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
ELE37321
Grading scale:
ECTS
Grading rules:
Internal and external examiner
Resit:
Examination when next scheduled course
100Yes5 Hour(s)
  • Bilingual dictionary
Individual
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:100
Invigilation:Yes
Grouping (size):Individual
Support materials:
  • Bilingual dictionary
Duration:5 Hour(s)
Comment:
Exam code:ELE37321
Grading scale:ECTS
Resit:Examination when next scheduled course
Exam organisation: 
Ordinary examination
Total weight: 
100
Student workload
ActivityDurationComment
Teaching on Campus
36 Hour(s)
Feedback activities and counselling
8 Hour(s)
Group work / Assignments
25 Hour(s)
Casework and assignments
Prepare for teaching
6 Hour(s)
Preparation for presentations
Student's own work with learning resources
120 Hour(s)
Examination
5 Hour(s)
Sum workload: 
200

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 7,5 ECTS credit corresponds to a workload of at least 200 hours.