Financial Regulation: From the Global Financial Crisis to Fintech and the COVID Pandemic from edX

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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Endorsements:

“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

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This course proves that an online course can be even better than a course delivered in person. Laura Kodres' videos are brief, on point, and engaging. She is the ultimate expert on the theory and practice of financial regulation. You feel like you have access to a personal tutor, who appears whenever you want her to. – Zvi Bodie, Professor Emeritus at Boston University

– Zvi Bodie, Professor Emeritus at Boston University

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"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

What's inside

Learning objectives

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

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

Syllabus

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

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Offers insights on contemporary topics in financial regulation, such as the impact of financial technology (fintech) and the COVID-19 pandemic on the financial system

Core Audience: Policymakers, financial practitioners, and individuals seeking a deeper understanding of financial regulation

Instructors Deborah J. Lucas and Dr. Laura Kodres are highly respected experts in the field of financial regulation

Provides a mix of videos, readings, and discussions to cater to diverse learning styles

Endorsements from industry leaders such as Dr. Ben Bernanke, former chairman of the Federal Reserve, add credibility to the course

Builds a solid foundation for understanding the rationale and evolution of financial regulation

Reviews summary

Comprehensive finance regulation course

Learners say this comprehensive course offers a step-by-step understanding of financial regulation. It covers foundational concepts, the Global Financial Crisis, Fintech, the COVID pandemic, and climate change. With engaging assignments and a helpful instructor, students feel that the course is well worth the effort.

Manageable workload with a clear timeline

"While you have 11 weeks at most to cover 10 modules, the deadlines cannot be extended."

Engaging and responsive instructor

"The professor was very helpful to answer to my questions and to respond to all of my comments on the discussion forum with additional insights."

Concepts applied to real-world events and challenges

"After introducing basic concepts such as moral hazard and standalone risk, the professor applied those concepts to understand the underlying problems of the Global Financial Crisis."

Top-notch materials and well-structured course content

"The quality of the videos, reading materials, assignments, and the discussion forum was superb."

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Financial Regulation: From the Global Financial Crisis to Fintech and the COVID Pandemic with these activities:

Compile a Glossary of Key Terms in Financial Regulation

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Solidify your understanding of the key terminology used in financial regulation by creating a comprehensive glossary.

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Review the course materials and identify key terms.
Define each term clearly and concisely.
Organize the terms alphabetically or by category.

Attend a Webinar on FinTech and Financial Regulation

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Stay up-to-date on the latest developments in FinTech and their regulatory implications by attending relevant webinars.

Browse courses on Fintech

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Identify and register for a webinar on FinTech and financial regulation.
Attend the webinar and actively participate in discussions.
Take notes on key insights and emerging trends.

Solve Practice Problems on Financial Regulation Tools and Policies

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Sharpen your analytical skills by solving practice problems related to various financial regulation tools and policies.

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Access online or offline practice problem sets.
Solve the problems independently.
Check your answers and identify areas for improvement.

Five other activities

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Calculate Financial Ratios and Metrics for Listed Financial Institutions

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Practice evaluating the financial health of listed financial institutions by calculating relevant ratios and metrics.

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Gather financial data for listed financial institutions.
Use financial ratios and metrics to analyze their performance and stability.
Interpret the results and identify potential risks.

Read Financial Markets and Institutions by Frederic Mishkin and Stanley Fischer

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Review the foundational concepts of financial markets and institutions to deepen your understanding of the course material.

View The Next Great Globalization on Amazon

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Read the chapters assigned for each module.
Take notes on the key concepts and theories.
Summarize the main points of each chapter in your own words.

Create an Infographic on the Evolution of Financial Regulation

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Visually represent the key milestones in the evolution of financial regulation to enhance your understanding and recall.

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Gather information on the history of financial regulation.
Identify the major events and milestones.
Design and create the infographic using appropriate software or tools.

Read The Global Financial Crisis: Lessons for the Future by Ben Bernanke

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Gain insights from a key figure in the financial crisis to enhance your understanding of the course content.

View Firefighting on Amazon

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Read the book in its entirety.
Highlight and annotate important passages.
Write a summary of the key lessons learned.

Develop a Policy Brief on Financial Regulation Reform

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Apply the course concepts to a real-world scenario by creating a policy brief on a specific financial regulation reform.

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Research and identify a specific area of financial regulation that requires reform.
Analyze the current regulatory framework and identify its strengths and weaknesses.
Propose a set of evidence-based policy recommendations.
Write a policy brief outlining your findings and recommendations.

Career center

Learners who complete Financial Regulation: From the Global Financial Crisis to Fintech and the COVID Pandemic will develop knowledge and skills that may be useful to these careers:

Financial Regulator

Financial Regulators are responsible for developing and enforcing regulations that govern the financial industry. This course would be highly relevant to this role, as it provides a deep understanding of the goals and limitations of financial regulation and the impact of the Global Financial Crisis.

See salaries and explore the career path for Financial Regulator

Compliance Officer

Compliance Officers are responsible for ensuring that their organizations comply with all applicable laws and regulations. This course would be highly relevant to this role, as it provides a comprehensive understanding of financial regulation, including the changes made in the wake of the Global Financial Crisis.

See salaries and explore the career path for Compliance Officer

Quantitative Analyst

Quantitative Analysts use mathematical and statistical models to analyze financial data and make investment decisions. This course may be useful in developing the skills and knowledge needed to succeed in this role, as it provides a deep understanding of financial markets and the regulatory environment in which they operate.

See salaries and explore the career path for Quantitative Analyst

Actuary

Actuaries use mathematical and statistical models to assess risk and uncertainty. This course may be useful in developing the skills and knowledge needed to succeed in this role, as it provides a deep understanding of risk management principles and the regulatory environment in which insurance companies operate.

See salaries and explore the career path for Actuary

Risk Manager

Risk Managers are responsible for identifying, assessing, and mitigating risks within their organizations. This course can be useful in developing the skills and knowledge needed to succeed in this role, as it provides a deep understanding of the types of risks that financial institutions face and the tools that can be used to manage these risks.

See salaries and explore the career path for Risk Manager

Data Analyst

Data Analysts collect, analyze, and interpret data to help businesses make informed decisions. This course may be useful in developing the skills and knowledge needed to succeed in this role, as it provides a deep understanding of data analysis techniques and the regulatory environment in which businesses operate.

See salaries and explore the career path for Data Analyst

Consultant

Consultants provide advice to businesses on a variety of topics, including financial regulation. This course may be useful in developing the skills and knowledge needed to succeed in this role, as it provides a deep understanding of financial regulation and the impact of the Global Financial Crisis.

See salaries and explore the career path for Consultant

Auditor

Auditors are responsible for examining and verifying financial records to ensure that they are accurate and complete. This course may be useful in developing the skills and knowledge needed to succeed in this role, as it provides a deep understanding of financial accounting and auditing standards.

See salaries and explore the career path for Auditor

Policy Analyst

Policy Analysts develop and evaluate public policies. This course may be useful in developing the skills and knowledge needed to succeed in this role, as it provides a deep understanding of financial regulation and the impact of the Global Financial Crisis.

See salaries and explore the career path for Policy Analyst

Economist

Economists study the production, distribution, and consumption of goods and services. This course may be useful in developing the skills and knowledge needed to succeed in this role, as it provides a deep understanding of economic principles and the regulatory environment in which businesses operate.

See salaries and explore the career path for Economist

Financial Analyst

Financial Analysts are responsible for analyzing financial data, making recommendations about investments, and managing investment portfolios. This course may be useful in developing the skills and knowledge needed to succeed in this role, as it provides a deep understanding of financial regulation, the impact of the Global Financial Crisis, and the implications for investment strategies.

See salaries and explore the career path for Financial Analyst

Investment Banker

Investment Bankers provide financial advice to corporations and governments, and help them raise capital. This course may be useful in developing the skills and knowledge needed to succeed in this role, as it provides a deep understanding of financial markets and the regulatory environment in which they operate.

See salaries and explore the career path for Investment Banker

Financial Planner

Financial Planners help individuals and families manage their finances. This course may be useful in developing the skills and knowledge needed to succeed in this role, as it provides a deep understanding of financial planning principles and the regulatory environment in which they operate.

See salaries and explore the career path for Financial Planner

Financial Advisor

Financial Advisors provide financial advice to individuals and families. This course may be useful in developing the skills and knowledge needed to succeed in this role, as it provides a deep understanding of financial planning principles and the regulatory environment in which they operate.

See salaries and explore the career path for Financial Advisor

Investment Manager

Investment Managers oversee the investment portfolios of individuals and institutions. This course may be useful in developing the skills and knowledge needed to succeed in this role, as it provides a deep understanding of financial markets and the regulatory environment in which they operate.

See salaries and explore the career path for Investment Manager