Undergraduate Course: Modelling the Financial Crisis and its Aftermath (ECNM10078)
|School||School of Economics
||College||College of Humanities and Social Science
|Credit level (Normal year taken)||SCQF Level 10 (Year 4 Undergraduate)
||Availability||Available to all students
|Summary||This course reviews models and empirical evidence relating to the financial crisis and its aftermath for students with a knowledge of economic and econometric analysis at the undergraduate level. It covers models which seek to explain why the crisis occurred as well as major policy issues arising in response to it.
The course will cover a variety of topics which relate to the recent financial crisis, such as: models of bank runs, modelling incentives for why excessively risky actions are undertaken in financial markets, models of debt deflation and liquidity, understanding structural unemployment, the post-crisis macroeconomic debate about fiscal policy (theory and evidence) and monetary policy.
Information for Visiting Students
|Pre-requisites||Visiting students should usually have an equivalent of at least 4 semester-long Economics courses at grade B or above (or be predicted to obtain this) for entry to this course. This MUST INCLUDE courses in Intermediate Macroeconomics (with calculus); Intermediate Microeconomics (with calculus); Probability and Statistics; and Introductory Econometrics. If macroeconomics and microeconomics courses are not calculus-based, then, in addition, Calculus (or Mathematics for Economics) is required.
|High Demand Course?
Course Delivery Information
|Not being delivered|
On completion of this course, the student will be able to:
- A knowledge and understanding of key concepts, debates and models relating to the financial crisis, along with relevant empirical evidence on and policy implications of those models and a deeper understanding of recent research activity in some more specialised areas.
- Research and investigative skills such as problem framing and solving and the ability to assemble and evaluate complex evidence and arguments.
- Communication skills in order to critique, create and communicate understanding and to collaborate with and relate to others.
- Personal effectiveness through task-management, time-management, teamwork and group interaction, dealing with uncertainty and adapting to new situations, personal and intellectual autonomy through independent learning.
- Practical/technical skills such as, modelling skills (abstraction, logic, succinctness), qualitative and quantitative analysis and general IT literacy.
|Graduate Attributes and Skills
||Research and Inquiry
B1. The ability to identify, define and analyse theoretical and applied economic problems and identify or devise approaches to investigate and solve these problems.
B3. The ability to critically assess existing understanding of economic and social issues, the limitations of that understanding and the limitations of their own knowledge and understanding of those issues.
B4. The ability to question the principles, methods, standards and boundaries of economic knowledge
Personal and Intellectual Autonomy
C1. The ability to be independent learners who take responsibility for their own learning, and are committed to continuous reflection, self-evaluation and self-improvement.
C4. The ability to collaborate and debate effectively to test, modify and strengthen their own views.
D1. The ability to make effective use of oral, written and visual means to critique, create and communicate understanding.
D2. The ability to further their own learning through effective use of feedback.
D3. The ability to use communication as a tool for collaborating and relating to others.
E1. The ability to manage tasks and also skills in time-management.
E4. The ability to work effectively with others, capitalising on their different thinking.
|Additional Class Delivery Information
||1 x 2:00 Hour Lecture for 10 Weeks, 3 x 1 hour tutorials to be arranged in addition
|Course organiser||Prof Jonathan Thomas
Tel: (0131 6)50 4515
|Course secretary||Mrs Anna Domagala
Tel: (0131 6)51 5305