The great depression and the global financial crisis of 2008-09 (the great recession) are the most serious financial crisis in the human history. You are to compare and contrast the great recession with the great depression.

To understand the great depression is the Holy Grail of macroeconomics— Ben S. Bernanke (1995)

The great depression and the global financial crisis of 2008-09 (the great recession) are the most serious financial crisis in the human history. You are to compare and contrast the great recession with the great depression. The essay should discuss the similarities and differences between these crises: the origins, the development and the impacts on the world economy. The essay should also critically examine the monetary policies of Federal Reserve and other central banks before and during the crises and answer the question:  what should we learn from these crises?

Note:

  • ´ Structure 10%
  • ´ Compare and contrast the great recession with the great depression. 40%
    • The essay should discuss the similarities and differences between these crises: the origins, the development and the impacts on the world economy.
  • ´ Monetary policies 50%

Examine the monetary policies of Federal Reserve and other central banks before and during the crises and answer the question:  what should we learn from these crises


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