Fall 2020

Financial Globalization, Growth and Crises

Listed in: Economics, as ECON-237

Formerly listed as: ECON-37

Moodle site: Course


Adam D. Honig (Section 01)


This course surveys the recent wave of financial globalization and assesses both its merits and potential risks. In particular, we will examine the most important potential benefit of financial globalization, an increased rate of economic growth that can be a powerful tool in alleviating poverty. We will analyze the theoretical arguments for a growth-enhancing effect of globalization and discuss the empirical evidence. We will then turn to the most important potential drawback: the risk of a devastating financial crisis, particularly in emerging market economies that have only recently opened to international capital movements. Throughout the course we will emphasize the conditions and policies under which financial globalization is likely to be successful. The course will conclude with an analysis of the effect of financial globalization, as well as increased trade openness, on inflation and the conduct of monetary policy.

For Fall 2020, the class will consist of a combination of asynchronous lectures and synchronous class meetings with additional material and discussion.

Requisite: ECON 111/111E. Limited to 50 students. Not available to students who have taken ECON 435. Fall semester. Professor Honig.

If Overenrolled: Some preference will be given to a) students who have taken fewer 200 level economics classes and b) economics majors. The class will be selected to achieve a group with diverse academic backgrounds and interests.


Online Only


2022-23: Not offered
Other years: Offered in Spring 2010, Fall 2010, Fall 2012, Fall 2013, Spring 2016, Spring 2020, Fall 2020, Fall 2023