Great course indeed. I was following the materials and videos of the crisis for a long time and this course perfectly summarized everthing back by data analysis. Highly recommended to all enthusiasts.
Excellent course on the GFC, I would highly recommend this to anyone wanting to learn more about the crisis. The instructors were very good and took a complex subject and made it very understandable.
By Dinesh R•
a) There clearly was a huge amount of criminal behavior that contributed to the crisis. The presenters appear to approach the subject half-heartedly, and focus their energies on disproving the possibility without sufficiently examining it.
b) A lot of the review questions focus on remembering facts rather than on understanding the causes and effects. For example, what is the relevance of being able to remember that job losses at the height of the crisis were of the order of 880k a month or 200k a month??
c) It is obvious to anyone with even trivial financial expertise that the financial system today is weaker than it was before the crisis. The too big to fail are bigger today (by a large margin) and interest rates are too low (remember the search for yield was the motivation for the creation of the exotic securities which blew up the system). Secy Geithner's focus in week 8 comes across as a personal defence of his actions rather an objective analysis of what was done and should have been done.
By Philip N•
A strong overview of the crisis that balances the depth and breadth of the material well.
Balance of narrative and data.
Logical sequencing gives a nice structure and a more digestible package.
Excellent level of detail, neither missing the forest for the trees nor ignoring the trees altogether.
Does not address alternative theories or interpretations of the crisis, even to shoot them down.
Several quizzes were poorly-constructed, featuring obvious typos or nonsensical statements.
Additional module to update the material (stale since mid-2015) was promised, but not delivered.
By Akshay U H•
A well-paced primer on various terminology in banking and finance. But while considering the various causes - understates the risk in various financial assets, does not consider into account various factors such as human error and shady machinations in the investment banking industry(Conflict of interest, resistance to regulations), predatory lending. And does not talk about the Behind The Scenes of most of the major falls - just touches on the topics at face value which raises more questions than it answers.
By Maria S•
The material is meticulously explained in a calm , experienced manner. Readings add depth and further support graphs and lecture. What an interesting time to be learning about the crisis of 08-09
By Fahad S•
Just completed this course in a 2-week whirlwind. The structure is very conducive to watching a couple of hours to finish half a week in one sitting, or also (if you prefer) more bite-sized portions of learning.
Andrew Metrick and Tim Geithner are highly knowledgeable and engaging teachers with a lightness of touch that conceals a masterful grasp of their subject. They use apt analogies to break down what are, in some cases, quite complex financial constructions to make them comprehensible to a lay audience (while my education was in the sciences, I consider myself a novice in economics and finance - though perhaps not any more). I found myself looking up the occasional phrase or acronym but almost every specialist term was fully defined in the lectures.
One of the highlights of the course was having a direct insight from someone who was, not just there on the ground in '07-'09, but in many ways the conductor of the US response to the crisis. Having Secretary Geithner as a lecturer initially sold me on this course, and I was not disappointed. There is a messiness to the GFC that can be overwhelming in some of the deep dives, as you might expect with such a complex historical event, but in the final lectures he brings it together with some simple (and reassuring) rules about how a government might proceed in the future, in the knowledge that crises do occur and cannot be predicted. Geithner has the bearing of a financial Confucian; quiet and thoughtful, yet exacting; emphasising fiscal and financial prudence for governments and bank-like institutions, while showing compassion and concern for those citizens that bore the brunt of the crisis. I hope and expect that some of these important teachings are enshrined and elevated to the high status that they deserve.
My country, Nigeria is taking on a lot of debt from China and I feel almost every citizen should learn about how greed and bubble thinking can lead to Financial Crisis exercebated by short-sighted Government approach to Economics and slow-walking by Congress . I might not agree with the Secetary Of treasury under President Obama on many things but it was such a great course to analyze what went wrong from his perspective leading up to the Great Financial crisis. The Lead Professor was quite simply world class in his delivery.
By Mike K•
A little long and repetitive, but very in depth. Yale is by far the best at the videos and getting guest speakers that are interesting. Definitely feel well informed about the global financial crisis and the origins of financial crises in general.
By Sriram R•
Extremely insightful course. Financial crisis analysed really well and explained in very simple terms. Something that has been missing in various book, movies,etc ( on the crisis ).
Must course for every individual.
By Rashi K A•
This course was excellent. The short yet crisp lectures have given me a fair perspective of what came before, during and to an extent after the GFC. I feel I will greatly benefit from this knowledge.
The course gives us a comprehensive perspective on what happened during the GFC 2008-2009 both in the US and the Eurozone, the lessons learned will be very fundamental for Central Bankers like me.
By Atheek A•
Interesting course. Would have been better if it was not based on data from 4 years ago.
On the technical side, please fix Mr. Geithner's mike. His perpetually audible deep exhalation is mildly distracting.
By Henrik G•
My selves being in the middle of the financial crisis and working for a sovereign financial institution without having a major stake on the line is like being at war without a license to kill or die for.
I think both T. Geithner and A Metrick gave us a very realistic and honest picture of the current affairs of the Global Economic Crisis from 2007 and on wards.
Considering Geithners special position as Secretary of the Treasury at the time it is therefore very firsthand and insightful information however there is always the risk of contamination from what was done as opposed to what could have been done.
Great Course - a must for economists!
Best – Henrik Gjerning, Data Scientist and Economist
By Mike Y W•
The breadth and width of topics covered in this course met my high expectations (it is Yale after all), but it would be nice if the course could be updated (I wouldn't mind paying more) with extra materials added in (or perhaps a new course or courses, "The GFC, Part II/III") for the past few years as I get the feeling this course was created in 2014. In addition, it would be nice if Secretary Geithner could have taught an extra week or two, and go more into the years leading to the GFC and the years immediately after it from his point of view. As a final suggestion, if there was a Yale specialization for market stress (or similar), including this course, I'd be all over it.
By Abhinav A•
Best material I could ever find related to Global Financial Crisis. As a student of Economics, this course was very helpful it is must for someone who just wants to know what happened in an easy to understand and practical manner.
Both the faculties are of very high stature and have closely observed the crisis. Professor Andrew is a financial economist and explains beautifully the events and timeline of GFC and Professor Geithner was himself involved in all policy reactions and his role has been highly appreciated worldwide as President of New York Fed. Awesome experience really. Thanks Coursera. It's like a dream come true to be taught by such eminent personalities.
A topic that you've heard pieces of, read headlines about, and heard plenty of opinions on... but to truly dig into the mathematics and behavior behind a generation defining event was incredible. The content was delivered logically, and in a way that leads the student to think on their own. Students are pushed to think why certain events had the consequences that they did. Historical behavior, market reaction, and the impact on the future are all evaluated and discussed. It's a behavioral macroeconomic course that uses the financial crisis as it's exhibit A. I recommend this course to anyone participating the financial or labor markets today.
By Ruslan K•
This is the greatest course I've ever attend. The knowledge and expertise of the Prof. Metrick and Mr.Geithner is over expectations. The course is very complex, well delivered (with simple and understandable language, reasoning and supporting materials), information is extremely concentrated, and huge knowledge of the authors is felt behind the scenes. The only think I lack is off-line (real life) attendance to the discussion with authors on questions that arise during the course. Hope, once I'll have an opportunity to attend Mr. Geithner and Mr. Metrics lectures and seminars and/or Yale university other real life courses
By GNANAGURUBARAN V•
This course is highly insightful and does a holistic evaluation of the financial catastrophe. I personally searched various parts of the internet to learn about the Global Financial Crisis, but none was as informative and EVIDENCE BASED as this course. One example of this was: while several online portals criticized the US government for being too lenient during the housing boom, the course says (rightly) that there is little evidence to support this claim.
To top it off, the course is quite affordable, costing 29 $, thereby giving a compelling reason to buy.
Put simply, this course is well put together. Professor Andrew Metrick is an engaging lecturer and the materials assigned are very helpful in understanding the topic.
If i have any recommendations i would suggest for a break down of abbreviations and concepts as i especially struggled given my non-financial background. Also, i still haven't figured out the discussion forum as in my opinion isn't as engaging.
In all, thank you for a brilliant work...still redo and redo this course. :)
By Lam A T•
The course is interesting , but need to update data into more previous event (the current data is fine but a little outdated) ,the professor presentation are short ,straight to the point and easy to understand ,the reading material are helpful ,overall it's a great course ,it only need to update the data to somewhat newer event ,and i gain a new insight from this course and many thanks to the professor and his team for their contribution on providing such great experience for us.
By alex h•
This is an excellent history class on the recent housing collapse and financial crisis, but it also does a masterful job of succinctly and clearly explaining/illustrating the underlying causes of the entire global financial crisis, as well as to the individual events throughout the multi year ordeal. Slides are very well put together with some very informative data. I'd suggest this class to anyone who wants an updated understanding of global finance and modern day banking.
By Gregorio T•
This course was excellent!!! In a structured way it helped me gain the understanding I was looking for. Andrew Metrick combines the knowledge and teaching skills that really made the difference. I also found a lot of value from the interactions with the course mentor, Guenter Leonhardt. The presence of Tim Geithner provided valuable direct testimony. This was my first course at Coursera and really encourages to take more. I only hope I can find Andrew's likes as teachers.
By Carlos H d S•
This is a very interesting subject that was covered in a well structured course. Gives a significant background information to understand these type of crisis (from past events) and provides the lessons to be learned. I liked especially the comparison between the crisis in the US with Europe (lasting much longer) and with the Great Depression of the 30's. I feel now that I am much more knowleadgeable in this matter and in economics/finance in general.
By Kalyani P•
This course is a must for every finance student to understand the dynamics of the crisis. It would help you to understand the various indicators better and that how various events would affect you personally. It breaks down the complex and some what messy financial crisis into small link able events which enhances your understanding dramatically. The faculty is engaging and the insights from Timothy Geithner are valuable and first hand.
By Zain N•
I would highly recommend this course for anyone who wishes to understand the events that happened during the GFC. Both, Prof Andrew Materick and Secretary Geitner provide excellent "insights & data"; and have made the course very interesting.
Looking forward for other coursers on Finance from Yale University.
P.S: The assignments are not easy as they seem to be. One has to carefully listen to the lessons and make proper notes.
By Steven Y•
This course covers in depth topics regarding The Global Financial Crisis of 2008-2009. The collapse of the global financial system led to a severe downtown of global economies. This course helps to understand the several key reasons as to what caused the crisis. From over-leverage in the investment banks to currency devaluation within the Euro, this course has an excellent presentation in covering these events.