(in Polish) Financial Crises 1155-12-E21-EF-FiCr

1. Types and definitions of financial crises,
a. Crises Defined by Quantitative Thresholds: Inflation, Currency Crashes, and Debasement,
b. Crises Defined by Events: Banking Crises and External and Domestic Default,
c. Debt Intolerance: The Genesis of Serial Default,
d. Asset Price Booms and Busts,
e. Credit Booms and Busts,
f. Impact of Asset Price and Credit Busts,
g. Currency Crises,
h. Sudden Stops,
i. Foreign and Domestic Debt Crises,
j. Banking Crises,
2. Identification, Dating and Frequency of Crises,
a. Frequency and Distribution of Crises,
b. Financial Crises with a Long-Term View,
3. Real and Financial Implications of Crises,
a. Real Effects of Crises,
b. Financial Effects of Crises,
4. Predicting Financial Crises,
a. Measuring Vulnerability,
b. Debt Intolerance,
c. Prices, Exchange Rates, Currency Debasement, and Real GDP,
d. Global Factors and Cycles of Global External Default,
5. Banking Crises, Inflation, and Currency Crashes,
a. Theory of Banking Crises,
b. Default through Debasement,
c. Inflation and Modern Currency Crashes,
6. The U.S. Subprime Meltdown and the Second Great Contraction,
a. An International and Historical Comparison,
b. The Aftermath of Financial Crises,
c. The International Dimensions of the Subprime Crisis,
7. Early Warnings, Graduation, Policy Responses to financial crises.
a. Composite Measures of Financial Turmoil,
b. The Role of International Institutions,
c. Policy Responses and This-Time-Is-Different Syndrome.

Total student workload

Contact hours with teacher: - participation in lectures and practical classes- 30 hrs - Consultations- 20 hrs Self-study hours: - preparation for lectures/practical classes - 5 hrs - reading literature- 15 hrs - preparation for examination- 30 hrs Altogether: 100 hrs (4 ECTS)

Learning outcomes - knowledge

W1. the graduate knows and understands to a deeper degree, on the basis of well-ordered theoretical knowledge, macroeconomic dependencies between financial crises and the economy and and its place in the system of social sciences (K_W01). W2: the graduate knows and understands advanced data acquisition methods, tools and techniques, specific to the economic sciences used for analyzing and recognizing the early warnings of crises which allow to describe socio-economic structures and institutions, processes occurring within them as well as relations between them (K_W06). W3: the graduate knows and understands, to a significant extent, the causes and consequences of processes that happen within the financial structures and financial institutions on the probability of a financial crisis with consequences for the real economy (K_W08).

Learning outcomes - skills

U1: the graduate is capable of critically analysing complex reasons for the financial crises and interrelations between them, the economy, financial institutions and the government (K_U01). U2: the graduate is capable of using the knowledge to solve complex problems related to preventing the emergence of a financial crisis with the use of economic tools (K_U02). U3: the graduate is capable of forecasting the processes and economic phenomena in times of financial stress after or before the burst of the crisis (K_U04). U4: the graduate is capable of interpreting the consequences of developments on the financial market and the decisions of central banks, among others, basing on the economics theory and experiences with financial crises (K_U07).

Learning outcomes - social competencies

K1: the graduate is willing to think and act entrepreneurially in order to improve the already existing solutions that regard preventing crises and respecting social responsibilities (K_K04).

Teaching methods

informative and participatory lectures, discussion sessions, multimedia presentations, practical.

Expository teaching methods

- problem-based lecture
- participatory lecture
- narration
- description
- informative (conventional) lecture

Prerequisites

The knowledge on the basic principles of macroeconomics

Course coordinators

Term 2024/25L:

Jerzy Boehlke
Maciej Ryczkowski
Xiaohong Xie

Term 2022/23L:

Maciej Ryczkowski

Assessment criteria

Assessment methods:
- written examination- W1, W2, W3, K1 +++
K2, K3 K4 ++, U1, U2, U3 ++
Assessment criteria:
Lecture final examination/test from practical classes:
fail- (up to 60%)
satisfactory- (60-70%)
satisfactory plus- (71-80%)
good (81-90%)
good plus (91-95%)
very good (96-100%)

Additional information

Additional information (registration calendar, class conductors, localization and schedules of classes), might be available in the USOSweb system:

Description of 1155-12-E21-EF-FiCr in USOSweb