FM447      Half Unit
Global Financial Systems

This information is for the 2016/17 session.

Teacher responsible

Dr Jon Danielsson


This course is available on the CEMS Exchange, IMEX Exchange, MSc in Accounting and Finance, MSc in Finance (part-time), MSc in Finance and Economics, MSc in Finance and Economics (Research) and MiM Exchange. This course is available with permission as an outside option to students on other programmes where regulations permit.


Students should have a strong background in microeconomics, and be comfortable with formal arguments.

Course content

This course examines the academic and policy debates on the operation of the global financial system. The course will aim to be topical, where the analysis of the issues will be based on economic arguments. The course begins with analysis of systemic risk, followed by an overview of important financial crisis and key institutions. Several theories of financial crises are then developed in some detail, and are assessed by reference to historical experience, The course concludes by analysis of the crises from 2007, including the latest policy and regulatory developments as well as the current situation in the European crisis.


20 hours of lectures and 10 hours of seminars in the MT.

Formative coursework

Students are expected to attempt the problem sets and essay questions set in the classes.

Indicative reading

Most material will be provided by the book Global Financial Systems (, by Jon Danielsson, published by Pearson


Exam (100%, duration: 2 hours) in the main exam period.

Key facts

Department: Finance

Total students 2015/16: 80

Average class size 2015/16: 28

Controlled access 2015/16: Yes

Value: Half Unit

Guidelines for interpreting course guide information

Personal development skills

  • Problem solving
  • Application of numeracy skills
  • Specialist skills