• Length:
    8 Weeks
  • Effort:
    6–10 hours per week
  • Price:

    FREE
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  • Institution
  • Subject:
  • Level:
    Introductory
  • Language:
    English
  • Video Transcript:
    English
  • Course Type:
    Instructor-led on a course schedule

Prerequisites

None

About this course

Skip About this course

This course will provide the underpinning rationale for financial regulation and evaluate the post-Global Financial Crisis reforms in this light, noting adaptions that were required due to systemic nature of the crisis and the need to ensure private sector compliance. It then applies these rationales and lessons learned to current topics in Fintech and the response to the Covid-19 pandemic.

The objectives of this course are to:

  • Identify the goals of financial regulation and understand the conditions under which regulation would make the financial system safer and more efficient and when it could be counterproductive.
  • Identify the precursors and vulnerabilities that give rise to financial crisis, including historical contexts, technological developments, and private sector responses to previous regulation.
  • Understand the main tools currently in use to mitigate stand-alone risks in individual financial institutions as well as stability risks to the financial system as a whole and evaluate their effectiveness, noting unintended consequences.
  • Apply the basic rationales and goals for regulation to technological financial innovations (e.g., fintech) and how the post-2008 reforms have influenced the ongoing responses to the financial implications of the COVID pandemic.

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“Understanding how financial regulation evolved following the Global Financial Crisis of 2008, and how it shaped the financial industry, is vital for regulators and for the financial practitioners they regulate. This course provides the underpinnings for a critical assessment, challenging us to think through how regulation needs to adapt to today’s challenges.”

-- Dr. Ben Bernanke, former chair of the Federal Reserve

What you'll learn

Skip What you'll learn
  • Goals and limitations of financial regulation

  • Vulnerabilities prior to the 2008 Global Financial Crisis and subsequent reforms

  • Types of policy tools used to prevent weak institutions and financial instability

  • Applications to fintech and the recent COVID pandemic

Module 0: How the Regulatory World Changed after the Global Financial Crisis

Module 1: Why Regulate?

Module 2: Housing and Finance

Module 3: Banks and Non-bank Financial Institutions

Module 4: Capital and Liquidity

Module 5: Systemically-Important Financial Institutions and “Too Big to Fail”

Module 6: OTC Derivatives Reforms and Market Infrastructures

Module 7: Regulation of the Future: Adding Fintech to the Mix

Module 8: Altering Regulation to Respond to the COVID19 Pandemic

Meet your instructors

Dr. Laura Kodres
Former Senior Distinguished Fellow for the Golub Center for Finance and Policy
Massachusetts Institute of Technology
Deborah J. Lucas
Sloan Distinguished Professor of Finance
Massachusetts Institute of Technology

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Learner testimonials

"I took the course in a traditional classroom setting and found it really useful and intellectually stimulating. I recommend this course not only for regulators/policymakers but also for those who, in financial institutions, have to live with and have constructive dialogue with them to produce a more effective regulatory framework."

Kazuki Tsuchiya – MIT Sloan MBA 2020 / Working for Mitsubishi UFJ Financial Group in global business development

Who can take this course?

Unfortunately, learners from one or more of the following countries or regions will not be able to register for this course: Iran, Cuba and the Crimea region of Ukraine. While edX has sought licenses from the U.S. Office of Foreign Assets Control (OFAC) to offer our courses to learners in these countries and regions, the licenses we have received are not broad enough to allow us to offer this course in all locations. EdX truly regrets that U.S. sanctions prevent us from offering all of our courses to everyone, no matter where they live.