Description: This course will explore the dramatic financial and macroeconomic developments that the United States has experienced over the last two decades. We will look at research on what factors precipitated the boom and bust in the housing market in the early 2000s and how the resulting mortgage crisis rippled through the global financial system and ultimately generated the most severe economic downturn since the Great Depression. We will analyze the policies put in place to stabilize the financial system, limit the economic fallout, and reduce the likelihood of future financial crises. The course will also examine the response of the financial system and the economy to the onset of the COVID-19 pandemic, with particular attention to how these developments and the appropriate policy responses compare with past episodes.
Recommended Prep: Ec1010b, Econ 1011b, or permission of the instructor.
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