MSFS-572 Financial Crises & The Future of Financial Regulation
Spring for 2017-2018
The course will have four interrelated objectives: reviewing the fault lines to the 2008 global financial crisis that was focused in the advanced countries of the United States and Europe; assessing the reform agenda to address the fault lines; examining how different today’s global financial system is from its pre-crisis self; and, looking ahead, assessing whether new risks been created in the transformed financial system that could be the source of future crises.

The course will also focus on the role played by the emerging markets whose context and reform needs may be different. This is important because the fault lines to the crisis were not exposed in the emerging markets, and given that they are seeking to build capital markets and new growth engines.

Students will become conversant in the role and structure of the international financial organizations, such as the Financial Stability Board, and the cooperation with national financial regulators, and multilateral groups like the IMF and the G20 that steer international financial and economic policy. They will also gain an understanding of how global governance and central bank policy has been changing in response to the weaknesses triggered by the recent financial crisis, and the key social, regulatory, and growth challenges going forward.

The main aim of the course will be to assess whether the regulatory reforms have taken the financial world to a safer, more robust, and more transparent financial system after the global financial crisis, and to identify possible new risks that could be the source of future financial crises.
Credits: 3
Prerequisites: None
Credits: 3
Prerequisites: None
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