Crisis Economics, a new graduate course in Economics and Finance, will be offered for the first time in fall 2010.

Macroeconomic phenomena such as unemployment statistics, rate of growth, and gross domestic product are usually explained using traditional economic models and theories. The new course, offered by Ted P. Schmidt, associate professor of economics and finance, will introduce students to alternative approaches to crisis theory.

Alternative perspectives include Post Keynesian, institutionalist, Marxist, and Austrian perspectives. “Many observers have called the recent global economic crisis a ‘Minsky moment,’” said Schmidt. Hyman Minsky was an economist who developed a “financial instability hypothesis,” arguing—before the current crisis—that financial institutions were taking on too much risk.

Schmidt, who is offering the course (ECO 588) on Monday evenings, writes a column presenting an alternative perspective on economic issues for Artvoice. The course can be used to fulfill the requirements for the master’s in applied economics program.

Related:
From the Bulletin: Economics Experts Continue Series on Financial Crisis (March 11, 2010)
Podcast: Panel Discussion: Global Economic Crisis and Stimulus Plan