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Module Title LM Models of Capitalism and Financial Crises
SchoolBirmingham Business School
Department Birmingham Business School
Module Code 07 26650
Module Lead Michel Goyer
Level Masters Level
Credits 10
Semester Semester 2
Pre-requisites LM International Banking: Regulation and Supervision - (08 20420)
Co-requisites
Restrictions MBA students only
Contact Hours Lecture-0 hours
Seminar-0 hours
Tutorial-0 hours
Project supervision-0 hours
Demonstration-0 hours
Practical Classes and workshops-0 hours
Supervised time in studio/workshop-0 hours
Fieldwork-0 hours
External Visits-0 hours
Work based learning-0 hours
Guided independent study-0 hours
Placement-0 hours
Year Abroad-0 hours
Exclusions
Description The module will consider the competing models of capitalism within the globalising world economy and the evolution of modern (financial) capitalism in the context of the 2007-09 financial crisis and the current Eurozone sovereign debt crisis. The module is organised around two themes: the institutional/regulatory diversity of capitalist economies and the importance of distinctive but interconnected types of crises within models of capitalism. The module will investigate the presence of diversity between capitalist economies in regard to corporate governance, takeovers, and innovation. The module will also analyse the occurrence of financial crises from the perspective of both the policy choices of governments and the different institutional models that they operate within. An important insight is that financial crises take a different character across different types of capitalist economies. Policy responses aimed at reducing the amplitude of cycles and the severity of financial crises will be examined in detail in light of the 2007-09 financial crisis and the current Eurozone sovereign debt crisis.
Learning Outcomes By the end of the module students should be able to:
  • Show a critical understanding of the nature of competing capitalisms within the globalising world economy
  • Explain analytically why global financial crises occur, with particular reference to the 2007-09 financial crisis and the role of competing models of capitalism
  • Identify and analyse the main differences across capitalist economies and their implications for the strategy of companies
  • Critically analyze and evaluate the different consequences of this crisis for countries, with particular reference to the Eurozone sovereign debt crisis
Assessment 26650-01 : Assignment : Coursework (80%)
26650-02 : Presentation : Presentation (20%)
Assessment Methods & Exceptions Assessments: 100% Coursework
Group Presentation (20%) – 15 minute presentation followed by questions
3,000 word Individual Assignment (80%)

Reassessment: 3,000 word Individual Assignment (100%)
Other
Reading List John L Campbell (2011), "The U.S. Financial Crisis: Lessons for Theories of Institutional Complementarity." Socio-Economic Review 9:211-34
Robert Shiller (2008), The Subprime Solution, Princeton: Princeton University Press. Read chapter 3, pp. 39-68.
Rafael Laporta, Florencio López-de-Silanes, Andrei Shleifer and Robert Vishny (2000), “Investor Protection and Corporate Governance, Journal of Financial Economics, 58: 3-27.
Michel Goyer (2010), “Corporate Governance”, in G.Morgan, J.Campbell, C.Crouch, O.K.Pedersen, R.Whitley (eds.), The Oxford Handbook of Comparative Institutional Analysis. Oxford: Oxford University Press
William Schneper and Mauro Guillen 2004, “Stakeholder Rights and Corporate Governance: A Cross-National Study of Hostile Takeovers.” Administrative Science Quarterly 49:263-295
Pepper Culpepper 2011, Quiet Politics and Business Power: Corporate Control in Europe and Japan, chapters 1 and 2
Peter Hall and David Soskice (2001) Varieties of Capitalism Oxford: Oxford University Press, pp 1-68.