In March 2000, Yale econÂoÂmist Robert Shiller pubÂlished IrraÂtional ExuÂberÂance, a book that warned that the long-runÂning bull marÂket was a bubÂble. Weeks latÂer, the marÂket cracked and Shiller was the new guru. Fast forÂward a few years, and Shiller released a secÂond ediÂtion of the same book, this time arguÂing that the housÂing marÂket was the latÂest and greatÂest bubÂble. We all know how that preÂdicÂtion played out.
Unlike most of the finanÂcial indusÂtry, Shiller isn’t locked into a perenÂniÂalÂly bullÂish view, bent on pumpÂing the marÂket despite what the real numÂbers sugÂgest. And that should give stuÂdents, whether young or old, some conÂfiÂdence in his free course simÂply called “FinanÂcial MarÂkets.” AvailÂable on the web in mulÂtiÂple forÂmats (YouTube – iTunes Audio – iTunes Video — Yale Web Site), the 26 lecÂture-course covÂers the inner-workÂings of finanÂcial instiÂtuÂtions that ideÂalÂly “supÂport peoÂple in their proÂducÂtive venÂtures” and help them manÂage ecoÂnomÂic risks. You can start with LecÂture 1 here. Above, we present his introÂducÂtoÂry lecÂture on Stocks.
FinalÂly (and sepÂaÂrateÂly) you can get Shiller’s thoughts on how to hanÂdle AmerÂiÂca’s big debt mess here. It was recordÂed in recent days.
Shiller’s course appears in the EcoÂnomÂics secÂtion of our big colÂlecÂtion of Free Online CoursÂes. 385 coursÂes in total. Don’t miss them.