Prof.Assaf Razin, International Macroeconomics and the Global Financial Crisis

Prof. Assaf Razin

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International Macroeconomics and the Global Financial Crisis  1011.4699.01

Short Description:

Financial, trade, and monetary systems are designed to stabilize the  real activity and the financial sector and to allow economic growth. However, there is a long crisis in the European single currency area that is still goes on and in 2008 the global economy plunged into depression. The US monetary system seems to have been coping with the fall in activity and it has moved to a full employment track. However, the European  monetary union, like the gold standard in the past, which were created to facilitate free trade and financial transactions among  European countries and also between Europe and other parts of the  world failed to perform. This is the motivation to engage in an analysis , both macro and finance, to understand the different ways that monetary system function.On the finance side, banking systems are built to improve the transfer of capital  from savers to investors. Asset markets enable risk sharing among investors, encouraging more efficient production and investment, to  the extent that they are transparent, and are not subject to risk-shifting behavior. A financial crisis marks a severe disruption of  these normal functions of financial and monetary systems, thereby hurting the efficiency of the economy.The course will cover the macro-finance-international theory both in its more elementary aspects as well as the macro-international aspects.

Berglas Building, room  101 

Dates: