ECON 352
Financial Development and Regulation Spring 2024
Division II
Cross-listed
This is not the current course catalog

Class Details

This course focuses on the financial system in developing countries and its role in economic development and stability. From both theoretical and applied perspectives, we will investigate the implications of financial development on economic development & growth, income inequality, and short-term fluctuations. We will also explore the dynamics that shape the institutions of a society’s financial structure and study the complexities of financial policy design. Throughout the course, a variety of tools of modern economics will be considered, such as theory-based quantitative structural methods, reduced form empirics, and field experiments, and we will study the consequences of finance on economic well-being. The first part of the course focuses on the functions of finance, how it contributes to growth and poverty alleviation, and what can be done to increase financial inclusion. What are the key parts of the infrastructure that are needed to improve access to financial services, including via ‘fintech,’ which is taking off in many developing countries? The second part of the course will build upon the first part and investigate how imperfections in financial development could make developing countries susceptible to short-term stability issues. A key focus of the second part will be how to prevent or minimize crises, and we will analyze the government’s role as regulator, supervisor, standard setter, contract enforcer, and owner.
The Class: Format: lecture; discussion
Limit: 20
Expected: 20
Class#: 3801
Grading: no pass/fail option, yes fifth course option
Requirements/Evaluation: Midterm, team assignment and formal in-class debates, and a final research paper.
Prerequisites: For undergraduates, Econ 110, 120, and POEC 253 or ECON 255; undergraduate enrollment limited and requires instructor's permission
Enrollment Preferences: CDE students, as well as undergraduates interested in the role of the financial system in low and middle-income countries.
Distributions: Division II
Notes: This course is cross-listed and the prefixes carry the following divisional credit:
ECON 352 Division II ECON 510 Division II
Attributes: GBST Economic Development Studies
POEC Depth
POEC Skills

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