A finance-related economic crisis like the one that erupted in 2008 had not been seen in the United States since the Great Depression. From significant excess borrowing in the run-up to the crisis to significant loss of household wealth that constrains economic recovery, this crisis puts in stark relief the centrality of the financial system and financial policymaking to the economy. The debt and banking crisis in Europe that threatens the U.S. and global recovery makes this point even more starkly. The objective of this course is to introduce students to the economics and public policy of finance in the United States and in the world. The course will include several specific topics regarding financial crisis, including data, causes, trends, and past and possible policy interventions. Simultaneously, the course will develop methodological and analytical tools that are helpful for understanding the intersection of finance and public policy more generally.
Capitalism and economic theory have been challenged as a result of the current economic and financial crises. At the same time, a number of countries, particularly in Latin America, have replaced governments embracing capitalism with those promoting socialism. What are the limits of capitalism? Are the new challenges that have arisen minor or fundamental? This course aims to capture this debate, drawing on a variety of fields, cases, and sources. In addition to the United States, cases may include Brazil, Britain, China, India, Indonesia, Russia, and South Africa. In addition to the economic dimensions of crises, the political and social dimensions of crises will also be a focus of the course, especially in drawing comparisons to the Great Depression and other periods of economic crisis.
Macroeconomics, graduate and undergraduate, Michigan State University
Development Economics (Africa), graduate and undergraduate, Harvard University (Kennedy School of Government) and Michigan State University
“Making Markets Work,” graduate (executive program), Harvard Business School
Development Economics, undergraduate, Michigan State University
Research Design and Methods for Public Policy, undergraduate, Michigan State University
Policy Analysis and Program Evaluation, undergraduate, Michigan State University
International Economic Relations, undergraduate, Michigan State University
Introduction to Public Affairs, undergraduate, Michigan State University
Economics of Baseball, undergraduate (Truman Scholars Leadership Week), William Jewell College