everything.study
FIN 434

Advanced Topics in Finance

3 units

Fall 2026

Topics

  • Finance and economic growth
  • Behavioural finance and inefficient markets
  • Macro-finance and financial-system stability
  • Corporate governance and corporate social purpose
  • Comparative financial systems

Readings

  • Caballero, Ricardo J. 2010. Creative destruction. Economic Growth. Palgrave Macmillan, 24- 29 Author’s download link in MIT’s website a. Finance, creative destruction & the internal contradictions of capitalism Demirgüç-Kunt, Asli & Ross Levine. 2006. Finance, financial sector policies & long-run growth. World Bank Policy & Research working paper 4469 b. Endogenous growth theory, time inconsistency & the economics of information
    unspecified
  • Jaffe, Adam B. & Josh Lerner. 2006. Innovation & its discontents. Innovation Policy & the Economy 6(1) 27-65. c. Finance & political science
    unspecified
  • Baumol, William J. 1990. Entrepreneurship: productive, unproductive & destructive. Journal of Political Economy 98 893-921
    unspecified
  • Lenway, Stephany, Randall Morck & Bernard Yeung. 1996. Rent Seeking, Innovation & Protectionism & the American Steel Industry: An Empirical Study. Economic Journal, 106(435) 410-421. d. Finance, demography, inequality & institutional economics Demirgüç-Kunt, Asli & Ross Levine. 2009. Finance & inequality: Theory & evidence. Annual Review of Financial Economics 287-318. e. Finance, economics & human nature
    unspecified
  • Hayek, Friedrich. 1945. The use of knowledge in society. American Economic Review 35(4)519-30 b. Inefficient markets
    unspecified
  • Black, Fischer. 1986. Noise. Journal of Finance 41(3)528-543 c. Psychology-based finance
    unspecified
  • Hirshleifer, David. 2015. Behavioral finance. Annual Review of Financial Economics 7 133-159
    unspecified
  • Frydman, Cary & Colin Camerer. 2016. The psychology & neuroscience of financial decision making. Trends in Cognitive Sciences 20(9)661-75 d. Bubbles & mass psychology
    unspecified
  • Willer, Robb, Ko Kuwabara & Michael W. Macy. 2009. The false enforcement of unpopular norms. American Journal of Sociology 115(2)451-90 e. Functional-form market efficiency
    unspecified
  • Morck, Randall, Bernard Yeung & Wayne Yu. 2013. R2 & the Economy. Annual Review of Financial Economics 5, 143-166 f. Evolutionary economics & behavioral finance
    unspecified
  • Morck, Randall. 2021. Kindleberger Cycles & Economic Growth: Method in the Madness of Crowds? Annual Review o Financial Economics 14(1)563-85. Link to NBER preprint
    unspecified
  • Keynes, John Maynard. 1936. The General Theory of Employment, Interest & Money. Royal Economic Society Link to open-source chapter 12 a. Finance & alternative theories of macroeconomics
    unspecified
  • Stiglitz, Joseph. 2018. Where modern macroeconomics went wrong. Oxford Review of Economic
    unspecified
Fall 2025

Readings

  • Caballero, Ricardo J. 2010. Creative destruction. Economic Growth. Palgrave Macmillan, 24- 29 in MI a. Finance, creative destruction & the internal contradictions of capitalism Demirgüç-Kunt, Asli & Ross Levine. 2006. Finance, financial sector policies & long-run growth. World Bank Policy & Research working paper 4469 b. Endogenous growth theory, time inconsistency & the economics of information
    unspecified
  • Jaffe, Adam B. & Josh Lerner. 2006. Innovation & its discontents. Innovation Policy & the Economy 6(1) 27-65. c. Finance & political science
    unspecified
  • Baumol, William J. 1990. Entrepreneurship: productive, unproductive & destructive. Journal of Political Economy 98 893-921
    unspecified
  • Lenway, Stephany, Randall Morck & Bernard Yeung. 1996. Rent Seeking, Innovation & Protectionism & the American Steel Industry: An Empirical Study. Economic Journal, 106(435) 410-421. d. Finance, demography, inequality & institutional economics Demirgüç-Kunt, Asli & Ross Levine. 2009. Finance & inequality: Theory & evidence. Annual Review of Financial Economics 287-318. e. Finance, economics & human nature
    unspecified
  • Hayek, Friedrich. 1945. The use of knowledge in society. American Economic Review 35(4)519-30 b. Inefficient markets
    unspecified
  • Black, Fischer. 1986. Noise. Journal of Finance 41(3)528-543 c. Psychology-based finance
    unspecified
  • Hirshleifer, David. 2015. Behavioral finance. Annual Review of Financial Economics 7 133-159
    unspecified
  • Frydman, Cary & Colin Camerer. 2016. The psychology & neuroscience of financial decision making. Trends in Cognitive Sciences 20(9)661-75 d. Bubbles & mass psychology
    unspecified
  • Willer, Robb, Ko Kuwabara & Michael W. Macy. 2009. The false enforcement of unpopular norms. American Journal of Sociology 115(2)451-90 e. Functional-form market efficiency
    unspecified
  • Morck, Randall, Bernard Yeung & Wayne Yu. 2013. R 2 & the Economy. Annual Review of Financial Economics 5, 143-166 f. Evolutionary economics & behavioral finance
    unspecified
  • Morck, Randall. 2021. Kindleberger Cycles & Economic Growth: Method in the Madness of Crowds? Annual Review o Financial Economics 14(1)563-85. Link to NBER preprint
    unspecified
  • Keynes, John Maynard. 1936. The General Theory of Employment, Interest & Money. Royal Economic Society Link to open-source chapter 12 a. Finance & alternative theories of macroeconomics
    unspecified
  • Stiglitz, Joseph. 2018. Where modern macroeconomics went wrong. Oxford Review of Economic
    unspecified
Sources