GECO 6165 -

Institution:

The New School

Subject:

Description:

Financial History Not offered 2008-09. Three credits. Edward Nell Financial history starts with the early development of money and credit in the ancient world. We examine the relations between them, then move on to the emergence of accounting and present value calculation in the medieval cities, especially in connection with banking and calculations of risk. The history of thinking about risk is explored. Instability also develops during the Renaissance; the "Bubbles" in the end of the 17th and early18th centuries are studied. (The South Sea Bubble saw appearance of the first derivatives.) In the 19th century we trace the movement of a definite business cycle; we consider whether and why we can also find a clear financial cycle. In the first part of the 20th century financial cycles become more intense. After World War II it is repeatedly claimed that cycles have been tamed, that a "new era" has emerged. The various rationales for thisare explored. At all points the relationship of financial activity to the real economy are examined.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.newschool.edu

Phone Number:

(212) 229-5600

Regional Accreditation:

Middle States Association of Colleges and Schools

Calendar System:

Semester

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