The Sovereign Debt Crisis

EH810 — with Robert P. Murphy

Cost: $37   Length: 4 Lectures
Format: Independent Study
Status: Open for enrollment

In this 4-lecture course, Professor Murphy surveys the sovereign debt crisis roiling world financial markets. The class will provide an overview of the worldwide housing bubble and its impacts on various countries and their banks. It will explain the formation of the euro, and the theories–both mainstream and Austrian–of the optimal size of a currency area. The course will also document the fiscal situation of the various at-risk countries, and will outline the various interventions that governments, the European Central Bank, and the Fed have used to postpone the day of reckoning. Finally the course will assess the current situation and offer prospects for the future.

For more information, see Professor Murphy’s Mises Daily article on the course.


Week 1: Housing bubble and debt loads across countries
Week 2: Forming of Euro and Optimal Currency Area, Mises vs Mainstream
Week 3: Chronology of interventions to date
Week 4: Prospects for the future from an Austrian perspective


All readings for the course will be free and available online.

Independent Study

Independent study courses are courses that were presented live in the past. These courses are now offered at a discount to anyone who wants to study independently. All courses include lecture recordings, slides, a complete hyper-linked syllabus, automatically-graded quizzes, and a discussion forum. Professors are not available for academic support for these independent study courses.

Sample Certificate of Participation

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