After a brief overview of the micro-foundations of capital market imperfections, topics include limited commitment, the financial accelerator, liquidity, bubbles, crises, the role of credit in monetary economics as well as international capital flows.
Prerequisite: ECON602 and ECON601; or (ECON604 and ECON603); or permission of BSOS-Economics department. Restriction: Must be in one of the following programs (Economics (Master's); Economics (Doctoral)). Credit only granted for: ECON698K or ECON747. Formerly: ECON698K.
Grading Method: Regular, Audit