Economic Crises

Photograph of several real estate 'For Sale' signs.

The most recent economic crisis began in part with the housing bubble bursting, resulting in thousands of home foreclosures and sales across America. (Image by coffeego on Flickr.)


MIT Course Number


As Taught In

Spring 2011



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Course Description

Course Features

Course Description

14.454 is an introduction to current macroeconomic concerns with particular emphasis on medium-run economic fluctuations, economic crises, and the role of asset markets. Topics include the explanation of high chronic unemployment in some nations, the source of modern liquidity crises, the origin and end of speculative bubbles, and the factors that lead to substantial periods of economic stagnation.

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Related Content

Ricardo Caballero. 14.454 Economic Crises. Spring 2011. Massachusetts Institute of Technology: MIT OpenCourseWare, License: Creative Commons BY-NC-SA.

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