Tuesdays and Thursday 10:00am – 11:30am
Seigle Hall 306
Office: Seigle 315G
Office Hours: MW 11:00am – 12:00pm
Take-home due final exam week or research paper.
(a) Introduction to financial markets with limited enforcement. Collateral enforcement vs. market exclusion. Equilibria and optima. Financial Crises and implications for business cycles. [Three weeks]
(b) Lending of last resort. Financial frictions in growth theory. Implications for asset returns and the distribution of wealth. [Two weeks]
(c) Property rights and growth. [Two weeks]