Units: 6 ECTS undergraduate (elective).
Semester: Summer, 7 weeks.
Teaching method: Lectures, discussions, assignments and presentations.
Literature: Announced in the syllabus for the course.
Instructor: Magnús Sveinn Helgason
Content and objective
This course is an introduction to economic and financial globalization since the 19th century. We will focus on the nature and origins of global financial crises as well as the role played by the international monetary and financial system in facilitating trade, growth and a more globalized world.
The course combines historical and economic analysis to uncover the forces that have shaped the current global economy, and analyse the process of globalization and functioning of financial markets. Our approach will be practical and historical, on understanding how the global economy and financial markets have actually evolved, rather than theoretical, studying how they should have evolved.
We will study the emergence and evolution of a global economy since the 19th century and the institutions which have maintained and shaped it. We will study the evolution of financial markets, institutions and innovation as well as global financial crises. We will study how these forces are revealed in Icelandic economic and financial history, leading up to the financial collapse of 2008.
After the course students should: