Political Economy of Finance
this upcoming wintersemester, we will be hosting a seminar on the recent and still lingering financial crisis. That crunch seems to have upheaved economies from urban housing to large scale enterprises, from rural Arkansas to your grandma’s pension. It moved and happened simultaneously at the centers of New York to the streets of Athens.
We will introduce you to issues of finance, money, marked-based finance and banking. If you are interested in the subject but have little prior knowledge of the matter, we welcome you to the course to ask questions. Let’s figure out together what happened during that financial liquidity crunch!
This seminar will be a weekly session, involving reading of related literature. All students interested in the matter are welcome to join discussion. Since this is part of official Göttingen University curriculum you may be eligible for ECTS. This definitely is the case for students of faculty of economics studies (economics, business administration, BA- and MA-level).
From the Syllabus:
With this seminar we want to add to existing efforts in understanding the financial meltdown that first culminated in the Lehman Brothers liquidity crunch in 2008. Thus, ten years after the crash, we will revisit institutions and concepts that led up to the crisis and critically evaluate following regulation as well as political aftermath. In this seminar we will acquire a basic understanding of banking and finance and build intiuition on finance-related issues such as risk-management, liquidiy-transformation, balance-sheets, lending and securitization. Within the basics-subsection we will also discuss both Keynesian and Minskyan approaches to financial (in-)stability. We will then examine regulation as in Basel III and take an in-depth look at Shadow Banking entities as well as repo-financing. Using this as grounds of discussion, we will follow up with issues of financial stability, financialization, crisis and monetary policy after the crash. Both minskyan and post-keynsian approaches will be center of discussions. All sessions will be based on weekly reading and will in some cases be attended by field-experts. This is a reading-intensive course with the aim of establishing a sound understanding of the financial crisis. We encourage students from all fields to join in the discussion of crisis, crash and political implications. Some background in accounting or finance will be helpful. We will, however, offer access to all topics with little prior knowledge. This seminar is jointly held by Kritische Wirtschaftswissenschaften Göttingen an Chair for Economic Policy, Prof. Bizer.
If you are interested, sessions will commence on October 25th, and then recur weekly on wednesdays from 10am to 12am. All necessary information can be found within the linked syllabus.
We are looking forward to seeing you there!
Picture credit for the above by christopher sebela.