FM447 Half Unit
Global Financial Systems
This information is for the 2025/26 session.
Course Convenor
Dr Jon Danielsson
Availability
This course is available on the MSc in Accounting and Finance and MSc in Financial History. This course is available with permission as an outside option to students on other programmes where regulations permit. This course uses controlled access as part of the course selection process.
All students on a programme listed under the Course Availability will be given a place. The course is not capped. The course is available with permission as an outside option.
Please contact finance.teachingmanager@lse.ac.uk with any queries.
This course is available for students on all MSc programmes (including exchange ones) where regulations permit.
This course is not open to students from the Department of Finance.
This course does not permit auditing students.
Requisites
Additional requisites:
Students should have some background in economics, and be comfortable with formal arguments
Course content
This course examines academic and policy debates regarding the operation of the global financial system. The course is designed to be topical, with economic arguments serving as the basis for issue analysis. The course begins with an examination of systemic risk, followed by a discussion of including US tariffs, both the context of the Great Depression and the Trump tariffs. It then moves to a survey of significant institutions, focusing on central banks. The influence of cryptocurrencies, central bank-issued digital currencies, fintech, and artificial intelligence on the financial system will be examined. Several theories of financial crises are elaborated upon and assessed in light of historical evidence. Foreign exchange markets, including crises, the numerous regimes and reserve currencies, will be discussed. The course examines recent policy and regulatory developments (including Basel III and macroprudential regulations). It concludes with a discussion of the latest threats to global financial and economic stability.
Teaching
30 hours of seminars in the Autumn Term.
This course is taught in the interactive lecturing format. There is no distinction between lectures and classes/seminars; there are “sessions” only, and the pedagogical approach in each session is interactive.
Formative assessment
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, and the lecture slides can be found on www.globalfinancialsystems.org
Assessment
Exam (100%), duration: 120 Minutes in the Spring exam period
Key facts
Department: Finance
Course Study Period: Autumn Term
Unit value: Half unit
FHEQ Level: Level 7
CEFR Level: Null
Total students 2024/25: 66
Average class size 2024/25: 66
Controlled access 2024/25: YesCourse selection videos
Some departments have produced short videos to introduce their courses. Please refer to the course selection videos index page for further information.
Personal development skills
- Problem solving
- Application of numeracy skills
- Specialist skills