J-Term

Course Information

ECONOMICS 675- Understanding the Global Economic Crisis, 4 credits (Ron Cronovich)

The 2007-2009 economic crisis is routinely called “the worst since the Great Depression.” In the U.S. alone, over seven million workers have lost their jobs, millions of people have lost their homes to foreclosure, and trillions of dollars of wealth have evaporated as house prices and the stock market have fallen. Why did this happen? Why did the so-called experts not see it coming? What is the government doing to fight this crisis, and will it work? Or does the government deserve some of the blame for the crisis? In this course, we seek answers to these questions. Along the way, we will demystify many issues ripped from the headlines, such as: the subprime mortgage crisis; the collapse of financial institutions like Lehman Brothers and A.I.G.; the credit crunch; government bailouts and stimulus packages; the Federal Reserve and its policies; mortgage-backed securities and credit default swaps. This course is intended for non-business and non-econ majors and has no prerequisite other than a curiosity about how the world works.

Meeting Time: MTWRF 1:00-4:00
Prerequisites: None