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Films On Demand Master Academic Video Package

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Movie Title: When Bubbles Burst (56 min)

The Norwegian hamlet of Vik was nearly bankrupted in 2007 due to speculative investing in U.S. hedge funds. Why has it become so difficult for communities, companies, and individuals to protect themselves from financial volatility? This program looks at the inner workings of the global economy, examining the mechanics behind unanticipated bubbles and catastrophic crashes. Experts including best-selling author Michael Lewis (The Big Short: Inside the Doomsday Machine) and economics Nobel laureate Joseph Stiglitz give an unflinching account of the contemporary financial landscape, and Vik’s unwitting involvement in the Terra Securities scandal serves as a case study.

After watching this week’s movie, briefly address the questions below:

1. Name one area in finance discussed in the movie which led to the financial collapse.
2. What are some of the problems described in the movie that are not necessarily policy related, but nevertheless contributed and continue to contribute to potential bubbles to grow in the near future?
3. Do you believe the COVID – 19 pandemic will have a similar impact on global trade and finance/economy as did the housing bubble of 2008? Why/Why not?