About this course: Former U.S. Secretary of the Treasury Timothy F. Geithner and Professor Andrew Metrick survey the causes, events, policy responses, and aftermath of the recent global financial crisis.
Created by: Yale University
Taught by: Andrew Metrick, Michael H. Jordan Professor of Finance and Management
Yale School of Management
Taught by: Timothy Geithner, Lecturer in Management, Yale SOM, Former U.S. Secretary of the Treasury
Yale School of Management
| Commitment | 11 weeks of study, 4-6 hours/week |
| Language | English, Subtitles: Romanian |
| How To Pass | Pass all graded assignments to complete the course. |
| User Ratings |
Syllabus
WEEK 1
Introduction to The Global Financial Crisis
6 videos, 4 readings
- Video: Introduction to The Global Financial Crisis
- Reading: Introduction to The Global Financial Crisis Slides
- Reading: Suggested Readings
- Video: Lecture: What is a Financial Crisis?
- Video: Lecture: Why Study the Global Financial Crisis?
- Video: Lecture: Course Themes
- Video: Lecture: Course Organization
- Reading: Before You Begin
- Video: Question and Answer
- Reading: Recommended Additional Readings
The Common Causes of Financial Crises
5 videos, 2 readings, 5 practice quizzes
- Video: Lecture: Why Does This Matter?
- Practice Quiz: Module 2, Quiz 1
- Reading: Why study the Global Financial Crisis? Slides
- Reading: Suggested Readings
- Video: Lecture: What Causes Financial Crises? Part 1
- Practice Quiz: Module 2, Quiz 2
- Video: Lecture: What Causes Financial Crises? Part 2
- Practice Quiz: Module 2, Quiz 3
- Video: Lecture: Causes of the 2008-2009 Financial Crisis
- Practice Quiz: Module 2, Quiz 4
- Video: Lecture: What did We Miss and Why Did We Miss it?
- Practice Quiz: Module 2, Quiz 5
Graded: Module 2, Wrap Up
WEEK 2
Housing and Mortgages
9 videos, 2 readings, 7 practice quizzes
- Video: Introduction: Housing and Mortgages
- Reading: Housing and Mortgages Slides
- Reading: Suggested Readings
- Video: Lecture: Housing Bubbles and Financial Crises
- Practice Quiz: Module 3, Quiz 1
- Video: Lecture: Mortgages: Fixed and Adjustable
- Practice Quiz: Module 3, Quiz 2
- Video: Lecture: Prime Mortgages
- Practice Quiz: Module 3, Quiz 3
- Video: Lecture: Nonprime Mortgages
- Practice Quiz: Module 3, Quiz 4
- Video: Lecture: Why Subprime Mortgages?
- Practice Quiz: Module 3, Quiz 5
- Video: Lecture: Some Foreclosure Facts
- Practice Quiz: Module 3, Quiz 6
- Video: Lecture: Crisis Terminology
- Practice Quiz: Module 3, Quiz 7
- Video: Summary: Housing and Mortgages
Graded: Module 3, Wrap Up
WEEK 3
Safe Assets and the Global Savings Glut
12 videos, 2 readings, 10 practice quizzes
- Video: Introduction: Safe Assets and the Global Savings Glut
- Reading: Safe Assets and the Global Savings Glut Slides
- Reading: Suggested Readings
- Video: Lecture: Shadow Banking
- Practice Quiz: Module 4, Quiz 1
- Video: Lecture: Safe Assets
- Practice Quiz: Module 4, Quiz 2
- Video: Lecture: The Global Savings Glut Hypothesis
- Practice Quiz: Module 4, Quiz 3
- Video: Lecture: Global Savings Glut Data, Part I
- Practice Quiz: Module 4, Quiz 4
- Video: Lecture: Global Savings Glut Data, Part II
- Practice Quiz: Module 4, Quiz 5
- Video: Lecture: Safe Asset Supply
- Practice Quiz: Module 4, Quiz 6
- Video: Lecture: Manufacturing Safe Assets
- Practice Quiz: Module 4, Quiz 7
- Video: Lecture: Securitization: Overview
- Practice Quiz: Module 4, Quiz 8
- Video: Lecture: Securitization: Data, Part I
- Practice Quiz: Module 4, Quiz 9
- Video: Lecture: Securitization: Data, Part II
- Practice Quiz: Module 4, Quiz 10
- Video: Summary: Safe Assets and the Global Savings Glut
Graded: Module 4, Wrap Up
WEEK 4
The Housing Crisis
10 videos, 2 readings, 8 practice quizzes
- Video: Introduction: The Housing Crisis
- Reading: The Housing Crisis Slides
- Reading: Suggested Readings
- Video: Lecture: What Caused the Housing Crisis
- Practice Quiz: Module 5, Quiz 1
- Video: Lecture: 3 Hypotheses
- Practice Quiz: Module 5, Quiz 2
- Video: Lecture: Bad Behavior, Part I
- Practice Quiz: Module 5, Quiz 3
- Video: Lecture: Hypothesis 1: Bad Behavior, Part II
- Practice Quiz: Module 5, Quiz 4
- Video: Lecture: Bad Behavior, Part III
- Practice Quiz: Module 5, Quiz 5
- Video: Lecture: Government Failure, Part I
- Practice Quiz: Module 5, Quiz 6
- Video: Lecture: Hypothesis 2: Government Failure, Part II
- Practice Quiz: Module 5, Quiz 7
- Video: Lecture: Hypothesis 3: Bubble Thinking
- Practice Quiz: Module 5, Quiz 8
- Video: Summary: The Housing Crisis
Graded: Module 5, Wrap Up
WEEK 5
Anxiety, Part I
12 videos, 2 readings, 10 practice quizzes
- Video: Introduction: Anxiety, Part I
- Reading: Anxiety, Part I Slides
- Reading: Suggested Readings
- Video: Lecture: Some Notable Events in 2007
- Practice Quiz: Module 6, Quiz 1
- Video: Lecture: ABX
- Practice Quiz: Module 6, Quiz 2
- Video: Lecture: ABX Data
- Practice Quiz: Module 6, Quiz 3
- Video: Lecture: Anxiety Spreads to Interbank Markets
- Practice Quiz: Module 6, Quiz 4
- Video: Lecture: LIBOR-OIS
- Practice Quiz: Module 6, Quiz 5
- Video: Lecture: LIBOR-OIS Data
- Practice Quiz: Module 6, Quiz 6
- Video: Lecture: Asset-Backed Commercial Paper
- Practice Quiz: Module 6, Quiz 7
- Video: Lecture: ABCP Data
- Practice Quiz: Module 6, Quiz 8
- Video: Lecture: ABCP Runs, Part I
- Practice Quiz: Module 6, Quiz 9
- Video: Lecture: ABCP Runs, Part II
- Practice Quiz: Module 6, Quiz 10
- Video: Lecture: Module 6 Summary
Graded: Module 6, Wrap Up
WEEK 6
Anxiety, Part II
9 videos, 2 readings, 7 practice quizzes
- Video: Introduction: Anxiety, Part II
- Reading: Anxiety, Part II Slides
- Reading: Suggested Reading
- Video: Lecture: Northern Rock: Narrative
- Practice Quiz: Module 7, Quiz 1
- Video: Lecture: Northern Rock and the Global Financial Crisis
- Practice Quiz: Module 7, Quiz 2
- Video: Lecture: The "Monolines"
- Practice Quiz: Module 7, Quiz 3
- Video: Lecture: Auction Rate Securities
- Practice Quiz: Module 7, Quiz 4
- Video: Lecture: Bear Stearns, Part I
- Practice Quiz: Module 7, Quiz 5
- Video: Lecture: Bear Stearns, Part II
- Practice Quiz: Module 7, Quiz 6
- Video: Lecture: Bear Stearns, Part III
- Practice Quiz: Module 7, Quiz 7
- Video: Summary: Anxiety, Part II
Graded: Module 7, Wrap Up
WEEK 7
Panic
9 videos, 2 readings, 8 practice quizzes
- Video: Introduction: Panic
- Reading: Panic Slides
- Reading: Suggested Readings
- Video: Lecture: Shadow Banking
- Practice Quiz: Module 8, Quiz 1
- Video: Lecture: Repo
- Practice Quiz: Module 8, Quiz 2
- Video: Lecture: The GSEs
- Practice Quiz: Module 8, Quiz 3
- Video: Lecture: Lehman Brothers
- Practice Quiz: Module 8, Quiz 4
- Video: Lecture: MMMFs
- Practice Quiz: Module 8, Quiz 5
- Video: Lecture: AIG
- Practice Quiz: Module 8, Quiz 6
- Video: Lecture: The Run on Repo
- Practice Quiz: Module 8, Quiz 7
- Video: Lecture: Module 8 Summary
- Practice Quiz: Module 8, Quiz 8
Graded: Module 8, Wrap Up
WEEK 8
Our Responses to the Crisis
10 videos, 2 readings, 10 practice quizzes
- Video: Lecture: United States Financial Capacity
- Practice Quiz: Module 9, Quiz 1
- Reading: Our Responses to the Crisis Slides
- Reading: Suggested Readings
- Video: Lecture: Phase 1: Letting It Burn
- Practice Quiz: Module 9, Quiz 2
- Video: Lecture: Phase 1: Letting it Burn - Framework for Crisis Resolution
- Practice Quiz: Module 9, Quiz 3
- Video: Lecture: Phase 2: Early Escalation - The Policy Response
- Practice Quiz: Module 9, Quiz 4
- Video: Lecture: Phase 3: Breaking the Panic - Market Developments
- Practice Quiz: Module 9, Quiz 5
- Video: Lecture: Triage in a Panic
- Practice Quiz: Module 9, Quiz 6
- Video: Lecture: Phase 4: Resolution - Market Developments
- Practice Quiz: Module 9, Quiz 7
- Video: Lecture: Phase 4: Resolution: What We Did
- Practice Quiz: Module 9, Quiz 8
- Video: Lecture: The Stress Test
- Practice Quiz: Module 9, Quiz 9
- Video: Lecture: Housing Response
- Practice Quiz: Module 9, Quiz 10
Graded: Module 9, Wrap Up
WEEK 9
Responding to Future Crises
6 videos, 2 readings, 5 practice quizzes
- Video: Lecture: What Have We Learned? Outcomes: Prisms 1-5
- Practice Quiz: Module 10, Quiz 1
- Reading: Responding to Future Crises Slides
- Reading: Suggest Readings
- Video: Lecture: What Have We Learned? Outcomes: Prisms 6-10
- Practice Quiz: Module 10, Quiz 2
- Video: Lecture: Unfinished Business
- Practice Quiz: Module 10, Quiz 3
- Video: Lecture: Playbook: Rule 1-5
- Practice Quiz: Module 10, Quiz 4
- Video: Lecture: Playbook: Rule 6-10
- Practice Quiz: Module 10, Quiz 5
- Video: Lecture: Responding to Future Crises Conclusion
Graded: Module 10, Wrap Up
WEEK 10
Europe in the Global Financial Crisis
8 videos, 2 readings, 6 practice quizzes
- Video: Introduction: Europe in the Global Financial Crisis
- Reading: Europe in the Global Financial Crisis Slides
- Reading: Suggested Readings
- Video: Lecture: The Euro: Background
- Practice Quiz: Module 11, Quiz 1
- Video: Lecture: European Growth and Unemployment
- Practice Quiz: Module 11, Quiz 2
- Video: Lecture: Three Connected Crises
- Practice Quiz: Module 11, Quiz 3
- Video: Lecture: Timeline
- Practice Quiz: Module 11, Quiz 4
- Video: Lecture: Ireland
- Practice Quiz: Module 11, Quiz 5
- Video: Lecture: Iceland
- Practice Quiz: Module 11, Quiz 6
- Video: Summary: Europe in the Global Financial Crisis
Graded: Module 11, Wrap Up
WEEK 11
The Eurozone Crisis
12 videos, 2 readings, 10 practice quizzes
- Video: Introduction: The Eurozone Crisis
- Reading: The Eurozone Crisis Slides
- Reading: Suggested Readings
- Video: Lecture: Eurozone Crisis: Overview
- Practice Quiz: Module 12, Quiz 1
- Video: Lecture: Eurozone Crisis: Timeline, Part I
- Practice Quiz: Module 12, Quiz 2
- Video: Lecture: Eurozone Crisis: Timeline, Part II
- Practice Quiz: Module 12, Quiz 3
- Video: Lecture: Eurozone Crisis: Timeline, Part III
- Practice Quiz: Module 12, Quiz 4
- Video: The Economics of the Euro
- Practice Quiz: Module 12, Quiz 5
- Video: Lecture: Ireland and Iceland Revisited, Part I
- Practice Quiz: Module 12, Quiz 6
- Video: Lecture: Ireland and Iceland Revisited, Part II
- Practice Quiz: Module 12, Quiz 7
- Video: Lecture: Ireland and Iceland Revisited, Aftermath
- Practice Quiz: Module 12, Quiz 8
- Video: Lecture: Internal Devaluations
- Practice Quiz: Module 12, Quiz 9
- Video: The Euro and the Gold Standard: Lessons from the Great Depression
- Practice Quiz: Module 12, Quiz 10
- Video: Summary: The Eurozone Crisis
Graded: Module 12, Wrap Up
Course Summary
Course Summary
1 video, 1 reading
- Video: Course Summary
- Reading: Summary Slides
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| Access to course materials | Available | Available |
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