Class Meet |
Topic |
Required Reading and BS Quizzes |
Perusall Assignments (due by 9am on assigned day)
Keep in mind that part of your Perusall grade includes your comments on others' postings and others' comments on your posting. Hence waiting until the last moment is not a good strategy to maximize points. |
9/7 |
Module 1: Intro to finance: Mkts/Inst |
Slides: Financial System, Markets and Institutions |
|
9/12 |
Intro to Finance: Mkts/Inst |
BrightSpace Note: The Financial System
BS Quizzes 1 and 2 |
|
9/14 |
Intro to Finance/Functions |
BrightSpace Note: Financial Institutions
Chapter 2 from Bodie and Merton on Financial Institutions |
|
9/19 |
Functions of Finance |
BrightSpace Note: Functions of the Financial System
BS Quiz 3 |
“Occupational Segregation Drives Persistent Inequality, Study Says,” New York Times Sept. 4, 2023 |
9/21 |
Module 2: Corporate Governance |
McMillan, John, Reinventing the Bazar: A Natural History of Markets, Chapter 13: Managers of Other People's Money
Slides: Corporate Governance |
|
9/26 |
Corporate Governance |
Chapter 29 from Berk and DeMarzo on Corporate Governance
Quiz 4
Last date to select Discussion Paper topic |
Oliver Hart and Luigi Zingales, “Companies Should Maximize Shareholder Welfare Not Market Value,” Journal of Law, Finance, and Accounting, 2017, 2: 247–274 |
9/28 |
Module 3: Finance and history |
Goetzmann, William. “Finance and Urbanism,” Chapter 2 in Money Changes Everything: How Finance Made Civilization Possible, Princeton University Press: Princeton, NJ.
Slides: The Beginnings of Finance |
|
10/3 |
Finance and history |
Goetzmann, William. “China’s first financial world,” Chapter 8 in Money Changes Everything: How Finance Made Civilization Possible, Princeton University Press: Princeton, NJ.
BS Quiz 5 |
The Moneychangers ( Şarrāfs ) in Mughal India, Studies in People’s History, December 2019 |
10/5 |
Origins of banking |
Gobat, Jeanne, “What is a bank?” Finance and Development, March 2012.
Grossman, Richard. “The Origins of Banking,” in Unsettled Account, Princeton University Press.
Slides: Banking and Credit Creation
Slides: Banking Origins
BS Quiz 6 |
|
10/10 |
Origins of banking |
BS Quiz 7 |
Grossman, Richard. “The Origins of Banking,” in Unsettled Account, Princeton University Press |
10/12 |
Module 4: Financialization |
Greenwood, Robin and David Scharfstein, “The Growth of Finance,” Journal of Economic Perspectives—Volume 27, Number 2—Spring 2013—Pages 3–28 (required reading)
Slides: Financialization |
|
10/17 |
Financialization |
BS Quiz 13 |
Zingales, Luigi. “Does Finance Benefit Society,” The Journal of Finance, August 2015, Vol. 70, No. 4, pp. 1327- 1363 |
10/19 |
Module 5: Financial Crisis |
The House of Debt, chapters 1-5
Slides: The Financial Crisis |
|
10/24 (S1) |
Financial Crisis |
The House of Debt, chapters 6-8
BS Quiz 14 |
Job Loss, Wealth and Depression During the Great Recession |
10/24 (S2) |
|
Review for Test 1 |
|
10/26 |
|
Test 1 (in-person) (BS portion can be taken on 10/25 and 10/26) |
|
10/31 |
|
No in-person class meeting for FIN 396H; POL 219 meets
House of Debt Summary due |
|
11/2 |
|
No in-person class meeting for FIN 396H, POL 219 meets |
|
11/7 |
Module 6: Collaborative Finance
(Election Day) |
Georgina M. Gomez and A.H.J. Helmsing, “Selective Spatial Closure and Local Economic Development: What Do We Learn from the Argentine Local Currency Systems?,” World Development, Vol. 36:11, Pages 2489-2511
Slides: Parallel Economic Systems |
|
11/9 |
Collaborative Finance
|
No in-person class meeting for FIN 396H;
POL 219 meets
BS Quiz 11 |
Bateman, Milford (2013). Financing local economic development: in search of the optimal local financial system. In: ÖFSE (Hg.) Österreichische Entwicklungspolitik, Analysen ▪ Berichte ▪ Informationen mit dem Schwerpunktthema “Private Sector Development – Ein neuer Businessplan für Entwicklung?”, Wien, 43-52 |
11/14 (S1) |
Module 7: Black Banking/Finance and Racism |
Speaker: Mariano Fernandez on the Argentine experience with multiple currencies, 9:15am
Baradaran, Mehrsa. The Color of Money, Chapter 6: The Decoy of Black Capitalism
Alicia Robb, “Access to Capital among Young Firms, Minority-owned Firms, Women-owned Firms, and High-tech Firms,” Small Business Administration Office of Advocacy, April 2013.
Slides: Racism and Access to Finance
Slides: Black Capitalism and Racism |
|
11/14 (S2) |
Black Banking/Finance and Racism |
BS Quiz 12
|
"Banking Against (Black) Capitalism: Review of The Color of Money by Mehrsa Baradaran
Bluestone’s article on Black Capitalism |
11/16 (S1) |
Module 8: Finance and Religion |
Abbas Mirakhor and Iqbal Zaidi, “Profit-and-loss sharing contracts in Islamic finance,” Chapter 4 of Hassan, Kabir and Mervyn Lewis Handbook of Islamic Banking.
Analysing the Islamic Prohibition on "Ribā": A Prohibition on Substance or Form? Author(s): Hamid Harasani Source: Arab Law Quarterly , 2013, Vol. 27, No. 3 (2013), pp. 289-296
Slides: Islam and the Law on Riba
Slides: Religious Law and Clerical Bias |
|
11/16 (S2) |
Finance and Religion |
Visser and McIntosh, A short review of the historical critique of usury, Accounting, Business and Financial History, Vol. 8, no. 2, 1998, http://www.alastairmcintosh.com/articles/1998_usury.htm
BS Quiz 10
First draft of Discussion Paper due
Speaker: Kim Kaplan
on Finance and Judaism, 11:15am |
Political Economy of Islamic Banking in Malaysia |
11/21 |
Thanksgiving |
|
|
11/23 |
Thanksgiving |
|
|
11/28 |
Module 9: Climate Change and Carbon Pricing |
Kerstine Appunn. Understanding the European Union’s Emissions Trading System (EU ETS), 20 Jul 2021.
Slides: Climate Change and Carbon Pricing |
|
11/30 |
Carbon Pricing |
Hafstead, Marc. Carbon Pricing 101, Resources for the Future, https://media.rff.org/documents/Carbon_Pricing_Explainer.pdf
BS Quiz 15 |
|
12/5 |
Module 10: Political Economy of Finance |
Marco Pagano and Paolo Volpin, “The Political Economy of Finance,” Review of Economic Policy, 2001, vol. 17, no. 4, 502-519 (http://faculty.london.edu/pvolpin/review.pdf)
Slides: The Political Economy of Finance |
|
12/7 |
Political Economy of Finance |
BS Quiz 8 |
Finance and politics: New insights by Thorsten Beck, Orkun Saka, Paolo Volpin
The Political Economy of Inflation |
12/12 |
Module 11: Social Impact Investing |
Social Impact Bonds: An Overview, Rockefeller Foundation
Slides: Social Impact Bonds
Final version of Discussion Paper due
Speaker: Kevin McQueen on Social Development Bonds, 11:15am |
|
12/14 |
Social Impact Investing |
Lund, Dorothy S., Corporate Finance for Social Good,"Columbia Law Review, June 2021, Vol. 121, No. 5, pp. 1617-1658
BS Quiz 16 |
|
12/19 |
Test 2 |
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