MG436      Half Unit
Firms, Markets and Crises

This information is for the 2013/14 session.

Teacher responsible

Prof Paul Willman NAB4.18 and Dr Daniel Beunza NAB4.08


This course is available on the MSc in Management and MSc in Management, Organisations and Governance. This course is available with permission as an outside option to students on other programmes where regulations permit.


Any social science background

Course content

This course focuses on the financial sector and financial markets. It discusses current research in the social sciences on how this sector has emerged and operates, and sheds some light on the recent financial crisis. A constant theme is that academic research helps us explain major phenomena in current business and organizational life. In each lecture and class, faculty will discuss a major aspect of or issue in the financial sector internationally, and show how relevant research can help us understand it. The classes will use readings or cases to explore these matters in depth.


15 hours of lectures and 10 hours of seminars in the LT. 1 hour and 30 minutes of lectures in the ST.

Formative coursework

Formative coursework Students will be expected to produce 1 essay in the LT.

Indicative reading

Davis, G.F. (2009) Managed by the Markets; How Finance Reshaped America, Oxford University Press.

Gorton, G.B. (2012) Misunderstanding Financial Crises, Oxford University Press.

Mackenzie, D. (2006) An Engine, Not a Camera; How Financial Models Shape Markets, MIT Press, Chapter 2 p. 37-68

Willman, P., Fenton O'Creevy, M. Nicholson, N. and Soane, E. Traders; Managing Risks and Decisions in Financial Markets, Oxford University Press, 2004 (paperback 2007)


Exam (75%, duration: 2 hours) in the main exam period.
Essay (25%, 2000 words) in the LT.

Key facts

Department: Management

Total students 2012/13: Unavailable

Average class size 2012/13: Unavailable

Value: Half Unit

Guidelines for interpreting course guide information

Personal development skills

  • Application of information skills
  • Communication