University of Exeter (UOEX) • Economics

Part 2 of 3 - Major players in the global financial crisis Low interest rates Financial deregulation and innovation Securitisation . originate and distribute - MBS, Mortgage backed securitisation - Post Loss Securitisation - CDOs - Collateralised debt obligations - securitisation and Moral Hazard - Credit Default Swaps - Carry trades Shadow banking - Asset Backed Conduits - SPVs and SIVs - Money market funds - Hedge funds Credit Crunch - Leverage and House prices - How the credit crunch came to...

The outcomes of change -Is Change Worse than the Disease? -Change is Affective -Survivor sickness -Post merger trauma

Core concepts -What is an Organisation -What is Organisational change -Why do organisations change -Theories of organisations in time -What is organizational decline -Reversing organisational decline

Continuous change -Tempo Theory of Change (Weick & Quinn, 1999) -Organizational Becoming (Tsoukas & Chia, 2002) -Organizational Improvisation -The Innovation Factory (Hargadon & Sutton, 2000) Achieving Radical Change Incrementally -Radical Change the Quiet Way (Meyerson, 2001) -Effective Radicals (Battilana & Casciara, 2012) -Recruiting Radicals -How to Build Change Capability

Overview Mapping change Change theories Lewin's method Kotter's 8 steps Nadler and Tushman 1989 Sirkin et al 2005

Part 4 of 4 - Ethics of the financial crisis Greed Prospect theory Self-serving bias Self-deception Ethical fading Acts of omission Ethical numbing Working with money makes you vulnerable Banking fraud How to improve ethics Banking reforms Can the Global Financial Crisis be prevented in the future

Part 1 of 4 - Why bubbles occur explained using behavioural economics - Globalisation - capitalism - Economic Crisis or Crisis of Economics? Different narratives - Sovereign Debt Crisis versus a Private Sector debt crisis - One of the catalysts of the recent crisis: US Housing market - US Debt Explosion US housing bubble and sub-prime - Growth of sub-prime - Focus of growth in economically depressed areas - NINJA, Piggyback and ARMS - How do you define a “bubble” Introduction to behavio...

Part 3 of 4 - Who was to blame for the global financial crisis - Bankers - Risk management failure - Var and efficient markets - risk systems - stress testing - competence of top management - rating agencies - where did it all go wrong - model failure - rating agency reforms

Organisational change typologies. Episodic vs. continuous change; incremental vs. strategic change; reactive vs. anticipatory change. Structural change Mergers and Acquisitions Organisational crisis

Intro to topic Social capital Microfinance Solving adverse selection Solving moral hazard Solving enforcement - Beasley-Coate Does Microfinance work? Joint liability Group lending Digital money M-Pesa