This course investigates the future of the financial services industry in the wake of the financial crisis. The crisis has seen the collapse of prominent institutions and markets, but failures of the past create lessons and opportunities for the future. This course will challenge students to discover new opportunities for products and businesses by building on an analysis of the crisis and the changing landscape of the industry.
The course has three key objectives: 1) Understanding the web of interconnected developments contributing to the crisis; 2) Recognizing the implications of public policy and regulation for the crisis and for the future; 3) Capturing business opportunities and identifying winners in the wake of the crisis.
The course will take an interdisciplinary perspective, drawing on finance, economics, management, behavioral economics, decision making, and risk management to examine real estate, securitization, derivatives, governance, regulation, and other aspects of the industry. Class sessions will include lectures and case discussions. Students will undertake a forward-looking group project with the guidance of one of the course instructors. Projects should focus on a new opportunity emerging anywhere in the broad universe of financial services, including banking, asset management, consumer finance, real estate, sales and trading, regulation, infrastructure and support services.