History of Financial Crises 1637 to Present

Harvard Extension School

ECON E-1944

Section 1

CRN 26443

View Course Details
The goal of this course is to discuss the almost 400 year history of financial crisis from the tulip bubble through the subprime mortgage crisis of 2008 and culminating in the collapse of the Silicon Valley Bank in 2023. We ascertain recurring historical patterns of financial bubbles without, however, overlooking critical differences. If history repeats itself, why can't we avoid making the same mistakes repeatedly? The meltdown of 2008 happened at a time when most macroeconomists (including the former Federal Reserve Chairman Ben Bernanke) were writing about how great everything was going since business cycles had vanished for all practical purposes. They were dead wrong. The historical evidence enables us to gain a more thorough understanding of global finance which influences our lives to such a great extent. Our primary aim is not to concentrate on facts, theorems, or numbers but rather to see the big picture in a multi-disciplinary and very-long-run perspective integrating the knowledge gained from the work of such Nobel Prize-winning behavioral economists as Robert Shiller and Daniel Kahneman. We also explore our current economic situation, including the aftermath of the Wall Street bailouts that forgot the people on Main Street and stood by as nine million people were evicted from their homes. We also discuss how the crisis contributed to the rise of populism and ends by outlining the main impact of the COVID-19 pandemic on the financial world.

Instructor Info

John Komlos, PhD

Professor of Economics, Emeritus, University of Munich


Meeting Info

M 11:00am - 1:00pm (1/27 - 5/17)

Participation Option: Online Synchronous

Deadlines

Last day to register: January 23, 2025

Notes

This course meets via web conference. Students must attend and participate at the scheduled meeting time.

Syllabus

All Sections of this Course

CRN Section # Participation Option(s) Instructor Section Status Meets Term Dates
33362 1 Online Synchronous Field not found in response. Jun 24 to Aug 9
26443 1 Online Synchronous John Komlos Open M 11:00am - 1:00pm
Jan 27 to May 17