Topics in Economics: Understanding Macro & Financial Policy

Why do severe recessions happen? Could we have prevented the Great Recession and its consequences? And what actions are needed to prevent such crises going forward? We undertake an empirical exploration of these questions in this course and debate the various macro and financial policy questions that arise. Our discussions are strictly disciplined by data and evidence. The course analyzes the role of debt in generating the Great Recession and the Great Depression, as well as the current economic malaise in Europe.