Table of contents

The course is connected to the following study programs

Teaching language

English/ Norwegian.

Learning outcomes

Upon completion of this course the student should be able to:

  • analyze major financial crises, considering their institutional, political, and historical contexts.
  • demonstrate a comprehensive understanding of the causes and consequences of historical financial and economic crises.
  • apply relevant economic theories and frameworks to assess financial crises.
  • evaluate the ethical implications of financial crises and their societal impact.
  • demonstrate critical thinking, discussion, and analytical skills in understanding the global macroeconomic dimensions of crises.

Contents

This course aims to provide students with a comprehensive understanding of financial crises and their interactions with the broader macroeconomic environment and society. Through an in-depth examination of major financial crises—ranging from the 1637 Tulip Mania to the 2008 Great Recession and the economic upheavals triggered by the Covid-19 pandemic—students will explore recurring patterns in financial instability. Identifying these patterns equips us to better anticipate and manage future economic challenges. The course combines a narrative approach with a versatile theoretical framework, supported by basic quantitative tools, to analyze the causes, consequences, and global interconnectedness of financial crises. Ethical considerations, particularly in the context of the 2007-08 financial crisis, will also be part of the discussion, alongside an exploration of various economic theories. A thorough understanding of the economic, political, and historical contexts in which these crises occurred is essential, emphasizing that contemporary financial markets and macroeconomic systems are inherently global in nature.

Teaching and learning methods

The course primarily consists of lectures, but also student presentations, group work, and class discussions. The estimated workload is about 200 hours.

Examination requirements

  1. Term paper proposal: Students must collaborate in groups (two to three students per group; individual submission is not permitted) for their term paper on a chosen topic. Proposals must be presented in person during class. Approved/not approved.
  2. Peer feedback participation: Students must provide constructive feedback on their peers’ term papers. Approved/not approved.
  3. Individual reflection note: Each student must write a two-page personal reflection on the course experience. The student will not receive feedback on this requirement.

Comprehensive information and guidelines for these components will be available on Canvas at the commencement of the course.

Examinations

  • Group term paper (the grade counts for 60% and is given to the group as a whole)
  • 3-hour individual written exam under supervision (40%).

Assessment expression: letter grade, A-F. More information in Canvas.

Student evaluation

The person responsible for the course decides, in cooperation with student representative, the form of student evaluation and whether the course is to have a midway or end of course evaluation in accordance with the quality system for education, chapter 4.1.

Offered as a free-standing course

No.

Reduction of Credits

This course’s contents overlap with the following courses. A reduction of credits will occur if one of these courses is taken in addition:

Course Reduction of Credits
SE-405 – History of Economic Crisis. 7.5
Last updated from FS (Felles studentsystem) Oct. 15, 2026 7:09:01 AM