Globalization and Financial Crises (ECON458) | GSÜ

Content

Objective

This course introduces students to the key theoretical approaches for understanding the relationship between globalization and financial crises.

Course Content

Undergraduate programme

Course Learning Outcomes

By the end of this course students wil be eable,
• identify business cycles by using leading indicators,
• establish a link between business cycles and financial crises,
• understand the influence of financial liberalisation on weak banking system,
• understand the reasons for recurrences of financial crises,
• learn about the international banking regulations concerning weak banking system (Basel I: II,III).

Teaching and Learning Methods

Theoretical

References

Course document and selected articles

Weekly Contents

Theory Topics
Week	Weekly Contents
1	Introduction: Financial Globalization
2	Business cycles, identification of the cycles, deterministic and stochastic interpretation
3	Theory of the “ real conjectural cycles
4	Exchange rate Crises and Macroeconomic vulnerability: First generation crises, second generation crises and third generation crises
5	The Developing Country Debt Problems: Origin of debt crisis, structural characteristics of the indebted countries, capital flight.
6	Case Studies: financial globalization and crises: Banking and financial Crises,
7	The 1987 Crisis and Banking Panic: Contagion effect.
8	Financial Crises on Emerging Economies:
9	The 1997 Asian Crisis and 1998 Russian Crisis.
10	Latin American Crisis.
11	The Global Credit Crisis (2008-2009
12	Reforms on International Financial Systems: Basel I, Basel II..,
13	Crisis Management and International Interventions.
14	Students Homework Presentations.

Assessment System

Contribution to Overall Grade
Activities	Number	Contribution
Contribution of in-term studies to overall grade	1	50
Contribution of final exam to overall grade	1	50
Total	2	100

In-Term Studies
Activities	Number	Contribution
Assignments	1	5
Presentation	1	5
Midterm Examinations (including preparation)	1	40
Project	0	0
Laboratory	0	0
Other Applications	0	0
Quiz	0	0
Term Paper/ Project	0	0
Portfolio Study	0	0
Reports	0	0
Learning Diary	0	0
Thesis/ Project	0	0
Seminar	0	0
Other	0	0
Total	3	50

Relation of Proficiency

No	Program Learning Outcomes	Contribution
No	Program Learning Outcomes	1	2	3	4	5
1	Demonstrate a basic knowledge of different economic theories and main discussions driving current theoretical approaches
2	Demonstrate ability to use basic qualitative and quantitative methods to asses different economic questions of applied fields
3	Show a sound understanding of current economic discussions and problems					X
4	Have an effective and clear communication in written and oral formats in different public and professional contexts.
5	Demonstrate basic knowledge of the world economic history and a sound knowledge of the Turkish economic history
7	Demonstrate knowledge of standard quantitative techniques and empirical models used in economics
8	Show ability to apply basic economic theory to an applied topic				X
9	Show a basic understanding of analytical methods, both theory- and model-based
10	Show ability to use economic concepts to discuss current economic issues					X
11	Reason logically and work analytically				X
12	Show awareness on social aspects of the economics in different applied and theoretical fields
13	Identify appropriate economic models to analyse problems				X
16	Show understanding of basic statistical and econometric concepts and ability to apply basic concepts to own empirical work
17	Demonstrate a sound knowledge of the current economic issues in Turkey and a general knowledge of the issues in the world economy				X

ECTS

Activities	Number	Period	Total Workload
Class Hours	14	3	42
Working Hours out of Class	14	2	28
Assignments	1	2	2
Presentation	10	2	20
Midterm Examinations (including preparation)	1	4	4
Other Applications	2	2	4
Final Examinations (including preparation)	1	8	8
Total Workload			108
Total Workload / 25			4.32
Credits ECTS			4