Course # 42521 Section Number 1 Day(s) M- W Time(s) 1:30pm-2:50pm Term Spring 2025 Specialization Markets & Regulation Finance & Policy Course Instructor Thomas Coleman Syllabus Syllabus 4/16/25 This course has an ambitious goal – to investigate both the tools of risk management at the firm level through hands-on training and practice, and the lessons of macroeconomic or systemic risk through examination of financial crises throughout history. These lessons are important – whether it is the South Sea Company crisis of 1700s or the mortgage debt crisis in the United States in the 2000s, financial crises have shaped our world. Understanding history is the first step towards intelligent policy. To examine the financial and economic history we will read some of the classic (and also some of the newer) texts in this area: A Monetary History of the United States, 1857-1960 by Milton Friedman and Anna Jacobson Schwartz; Manias, Panics, and Crashes by Charles P. Kindleberger (for a history of financial panics); Extraordinary Popular Delusions and the Madness of Crowds by Charles Mackay (for a history of the 18th century South Sea Bubble in Britain and the Sword Blade Bank and Mississippi Company in France); This Time is Different – Eight Centuries of Financial Folly by Carmen Reinhart and Kenneth Rogoff (for why this time is not different – financial folly has a long history); and Fragile by Design by Charles Calomiris and Stephen Haber (for a cogent and disciplined analysis of banking systems across time and across countries – US, Canada, UK, Mexico, and Brazil). Quarter Title Instructor Day(s) Time(s) Syllabus Spring 2025 History of Financial Crises Thomas Coleman Monday, Wednesday 1:30pm-2:50pm Syllabus Recent News More news Where Passion Meets Policy: The Story of Samantha Kent, AM’20 Tue., May 27, 2025 Student Profile: Sophie Lara, MACRM Class of 2027 Tue., May 20, 2025 Q&A: Professor Scott Gehlbach on the War in Ukraine and What Comes Next Mon., May 19, 2025 Upcoming Events More events Get to Know Harris! A Virtual Information Session Thu., May 29, 2025 | 8:30 AM Get to Know Harris! Public Sector Scholarship Fri., May 30, 2025 | 12:00 PM Masterclass with Navin Kumar Tue., June 03, 2025 | 5:00 PM