Syllabus for Sustainability of Financial Markets in the Modern Era

Hållbara finansiella marknader ur ett historiskt perspektiv

Syllabus

  • 7.5 credits
  • Course code: 2EH425
  • Education cycle: Second cycle
  • Main field(s) of study and in-depth level: Economic History A1N

    Explanation of codes

    The code indicates the education cycle and in-depth level of the course in relation to other courses within the same main field of study according to the requirements for general degrees:

    First cycle
    G1N: has only upper-secondary level entry requirements
    G1F: has less than 60 credits in first-cycle course/s as entry requirements
    G1E: contains specially designed degree project for Higher Education Diploma
    G2F: has at least 60 credits in first-cycle course/s as entry requirements
    G2E: has at least 60 credits in first-cycle course/s as entry requirements, contains degree project for Bachelor of Arts/Bachelor of Science
    GXX: in-depth level of the course cannot be classified.

    Second cycle
    A1N: has only first-cycle course/s as entry requirements
    A1F: has second-cycle course/s as entry requirements
    A1E: contains degree project for Master of Arts/Master of Science (60 credits)
    A2E: contains degree project for Master of Arts/Master of Science (120 credits)
    AXX: in-depth level of the course cannot be classified.

  • Grading system: Fail (U), Pass (G), Pass with distinction (VG)
  • Established: 2020-06-26
  • Established by: The Department Board
  • Applies from: week 01, 2021
  • Entry requirements: Accepted to the Master's Programme in Global Markets, Local Creativities (GLOCAL).
  • Responsible department: Department of Economic History

Decisions and guidelines

This course is included the Master's Programme in Global Markets and Local Creativity (GLOCAL).

Learning outcomes

On completion of the course, the student is expected to be able to:

  • in an advanced way account for and discuss the fundamental features of financial crises and financial stability mainly during the period 1800-2020.
  • independently and critically analyse some of the classic works in this field.
  • independently identify and formulate central questions for economic-historical research within the scope of financial markets. This should be done by relating economic-historical perspectives on financial crises and financial stability to other social sciences perspectives.

Content

The financial markets have been of great importance for the emergence of the modern economics. Ever since the world transited from agricultural industrialised economies most countries have been depending on trade cycles and financial markets for economic growth. From this perspective, sustainable financial markets have been fundamental for economic growth. On the other hand, these markets have also demonstrated a turbulent behavior and a tendency for crashes. When economic disturbances have arisen at different times, the whole economics has been influenced. Such turbulence has been observed through a slowdown of the economic growth, increasing unemployment and sometimes political concern.

The central theme for this master's course is to understand both sustainable patterns as well as why and how economic slopes and crashes in the financial market have tended to occur and return and in what ways such declines has been handled through history.
If business slumps and turbulence in the financial market have caused so large problems with regard to sustainability why do they tend they to resurge? During the course, we present example of declines that had a large effect when they occurred.
Even if the declines have differed with regard to origin, influence and endurance, some claim that they also showed certain repeated patterns and had certain functions. A vivid academic debate has arisen around these questions with respect to recurrent patterns.
Such regularities as well as how the declines have been handled are highlighted in the historical examples of the course.

Instruction

The teaching is given in the form of lectures and seminars. The language of instruction is English.

Assessment

The students are assessed through fulfilment of written and oral assignments.

If there are special reasons for doing so, an examiner may make an exception from the method of assessment indicated and allow a student to be assessed by another method. An example of special reasons might be a certificate regarding special pedagogical support from the University's disability coordinator.

Reading list

Reading list

Applies from: week 01, 2021

Some titles may be available electronically through the University library.

  • Aliber, Robert Z.; Kindleberger, Charles Poor Manias, panics and crashes : a history of financial crises

    Seventh edition.: Basingstoke: Palgrave Macmillan, 2015

    Find in the library

    Mandatory

  • de Bromhead, Alan; Eichengreen, Barry Political Extremism in the 1920s and 1930s : Do German Lessons Generalize?

    Part of:

    The journal of economic history.

    Link to article

    vol. 73 (2013) nr. 2 s. 371-406

    Find in the library

    Mandatory

  • Eichengreen, Barry J. Hall of mirrors : the Great Depression, the Great Recession, and the uses - and misuses - of history

    New York: Oxford University Press, 2015

    Find in the library

    Mandatory

  • Feinstein, C. H.; Temin, Peter; Toniolo, Gianni The world economy between the world wars

    Oxford: Oxford University Press, 2008

    http://www.loc.gov/catdir/toc/ecip0717/2007018792.html

    Chapter 6: The Onset of the Great Depression

    Find in the library

    Mandatory

  • Katz, S. Stanley The Asian Crisis, the IMF and the Critics

    Part of:

    Eastern economic journal

    Bloomsburg, Pa.: Eastern Economic Association, 1974-

    vol. 25 (1999) nr. 4 s. 421-439

    Find in the library

    Mandatory

  • Neal, Larry. A concise history of international finance : from Babylon to Bernanke

    Cambridge: Cambridge University Press, 2015

    Find in the library

    Mandatory

  • Reinhart, Carmen M. Rogoff, Kenneth S. This time is different : eight centuries of financial folly

    Princeton: Princeton University Press, 2009

    Find in the library

    Mandatory

  • Schenk, Catherine R. Summer in the City : Banking Failures of 1974 and the Development of International Banking Supervision

    Part of:

    The English historical review [Elektronisk resurs]

    Oxford: Oxford U.P., 2002-

    Link to article

    vol. 129 (2014) nr. 540 s. 1129-1156

    Find in the library

    Mandatory

  • Tooze, J. Adam Crashed : how a decade of financial crises changed the world

    [London]: Penguin Books, 2019

    Find in the library

    Mandatory