Yale - L10. Real Estate
Real estate finance is so important that it has a very long and complex history. Describing the history of mortgage financing, Professor Shiller highlights the historical developm…
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Yale - L11. Behavioral Finance and the Role of Psychology
Deviating from an absolute belief in the principle of rationality, Professor Shiller elaborates on human failings and foibles. Acknowledging impulses to exploit these weaknesses,…
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Yale - L11. Institutions and Incentives in Mortgages and Mortgage-Backed Securities
Guest speaker Will Goetzmann, Director of the Yale International Center for Finance and professor at the Yale School of Management, provides a brief history of debt and financial…
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Yale - L12. Accountability and Greed in Investment Banking
Professor Rae explores the creation of incentives and disincentives for individual action. The discussion begins with the Coase Theorem, which outlines three conditions for effici…
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Yale - L12. Misbehavior, Crises, Regulation and Self Regulation
After talking about human failures and foibles in the last lecture, this lecture is concerned with regulation to minimize the impact of human errors. Professor Shiller outlines fi…
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Yale - L13. Banks
Banks are among our enduring of financial institutions. Their survival in so many different historical periods is testimony to their importance. Professor Shiller traces the origi…
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Yale - L13. The Mortgage Meltdown in Cleveland
Professor Rae discusses the subprime mortgage crisis. Major actors are presented and analyzed, including homebuyers, brokers, appraisers, lenders, i-banks, and rating and governme…
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Yale - L14. Guest Speaker Maurice 'Hank' Greenberg
This is a guest lecture by Maurice "Hank" Greenberg, former Chief Executive Officer at American International Group. Mr. Greenberg starts his lecture with reflections on his time…
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Yale - L14. The Political and Judicial Elements of American Capitalism
Professor Rae uses the Merck-Vioxx business case to highlight political elements of U.S. capitalism, including government regulatory agencies, federalism, lobbying, regulatory cap…
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Yale - L15. Forward and Futures Markets
To begin the lecture, Professor Shiller elaborates on the difference between forwards and futures and on the role of futures markets to infer future prices for the underlying comm…
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Yale - L15. Mass Affluence Comes to the Western World
Professor Rae discusses the rise of mass affluence, the joint stock corporation, and advertising/consumer culture in America. Gregory Clark's theory of the causes of the Industria…
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Yale - L16. Braudel's Bell Jar
Professor Rae explores Hernando de Soto's theories of dead and live capital and the power of property rights. According to de Soto, informal property must carefully be integrated…
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