Understand different financial crises, their causes and their impact. Analyse, understand and assess policies in the aftermath of financial crises, in particular financial regulation. Understand the advantages and disadvantages of the current financial regulatory framework.

PLEASE NOTE THAT THE INFORMATION ABOUT THE TEACHING AND ASSESSMENT METHOD(S) USED IN THIS COURSE IS WITH RESERVATION. A RE-EMERGENCE OF THE CORONAVIRUS AND NEW COUNTERMEASURES BY THE DUTCH GOVERNMENT MIGHT FORCE COORDINATORS TO CHANGE THE TEACHING AND ASSESSMENT METHODS USED. THE MOST UP-TO-DATE INFORMATION ABOUT THE TEACHING/ASSESSMENT METHOD(S) WILL BE AVAILABLE IN THE COURSE SYLLABUS.

The course builds on the experiences of past financial and economic crises, with particular focus on the 2008 financial crisis (“Lehman”), and the ensuing policy reactions. In the first part of the course, the origins and types of financial crises are discussed, as well as their impact on economic growth. Second, it is discussed which post-crisis reforms policy makers have opted for after the 2008 financial crisis, in particular (European) regulation in the areas of banking and insurance. Finally, it is discussed whether the regulatory landscape has improved the resilience of the financial system. The latter is also assessed against the background of new shocks and risks, such as the 2020 pandemic, cyber risks and climate change. The course comprises (guest) lectures of experts in the field as well as visit to the Dutch central bank.

Selected book chapters and articles