International Trade and Finance

1. Economic Stability and Crises
   1. Currency Crises
      1. Causes and Consequences
         1. Speculative Attacks
         2. Loss of Investor Confidence
         3. Inconsistent Economic Policies
         4. Fixed vs. Flexible Exchange Rate Systems
         5. Inflation and Interest Rates
         6. Effect on Domestic Economy and Employment
         7. Impact on Investment and Trade Flows
      2. Case Studies
         1. Asia Financial Crisis (1997-1998)
         2. Latin American Debt Crisis (1980s)
         3. European Sovereign Debt Crisis (2009)
         4. Russian Financial Crisis (1998)
         5. Lessons from Each Crisis
         6. Policy and Market Reactions
   2. Sovereign Debt Crises
      1. Factors Leading to Debt Crises
         1. Excessive Borrowing and Government Spending
         2. High Levels of External Debt
         3. Currency Depreciation and Inflation
         4. Global Economic Conditions
         5. Institutional and Structural Weaknesses
      2. Case Studies
         1. Greece Debt Crisis (2009-2018)
         2. Argentine Debt Crisis (2001)
         3. Iceland Financial Crisis (2008-2011)
         4. Recent African Debt Crises
         5. Government Responses and Austerity Measures
      3. Resolution Strategies
         1. Debt Restructuring and Reprofiling
         2. International Bailouts and Assistance
         3. Implementation of Structural Reforms
         4. Role of International Monetary Fund (IMF) and Other Financial Institutions
         5. Long-term Consequences for Economic Policy
         6. Impact on Social Sectors and Public Services
   3. Financial Crises
      1. Types and Nature of Financial Crises
         1. Banking Crises
         2. Stock Market Crashes
         3. Real Estate Bubbles
         4. Systemic Crises and Contagions
      2. Global Financial Crisis
         1. Precursors, Including Housing Market Collapse and Lehman Brothers Bankruptcy
         2. Subprime Mortgage Crisis
         3. Effects on Global Financial Markets and National Economies
         4. Government and Central Bank Interventions
         5. Long-term Economic Implications
      3. Contagion Effects
         1. Definition and Mechanisms of Contagion
         2. Cross-border Capital Flows
         3. Interconnected Financial Systems
         4. Policy Coordination between Nations
         5. Examples of Crisis Spreading: Asian Financial Crisis, Eurozone Crisis
         6. Strategies to Mitigate Contagion
   4. Policy and Regulatory Responses
      1. Macroprudential Regulations
         1. Principles of Macroprudential Policy
         2. Tools for Monitoring and Mitigating Risks
         3. Stress Testing of Financial Institutions
      2. Role of Central Banks
         1. Lender of Last Resort Functions
         2. Monetary Policy Adjustments
         3. Quantitative Easing and Interest Rate Policies
      3. Fiscal Measures
         1. Stimulus Packages
         2. Budget Reforms and Austerity
         3. Social Safety Nets and Unemployment Benefits
      4. Structural Reforms
         1. Enhancing Transparency and Accountability in Financial Markets
         2. Strengthening Financial Sector Regulations
         3. Encouraging Diversification of National Economies
   5. The Role of International Collaboration
      1. G20 Summits and Economic Coordination
      2. International Institutions' Support and Collaboration
         1. IMF Policies and Programs
         2. World Bank's Role in Crisis Management
      3. Regional Initiatives and Agreements
         1. European Stability Mechanism (ESM)
         2. ASEAN+3 Macroeconomic Research Office (AMRO)
         3. Caribbean Financial Action Task Force (CFATF)
      4. Challenges in Achieving Effective International Cooperation
         1. Sovereignty vs. Supranational Authority
         2. Differing National Priorities
         3. Geopolitical Tensions
   6. Long-term Impacts of Crises on Economic Stability
      1. Changes in Economic Policy Making and Governance
      2. Evolution of Financial Systems
      3. Effects on Global Economic Power Dynamics
      4. Societal and Behavioral Shifts in Investment and Consumption
      5. Lessons for Future Crisis Prevention and Mitigation