How has the Financial Crisis (2007- ) affected the Economy?

Two part essay question 1) How has the Financial Crisis (2007- ) affected the Economy? question 2)Has a break-down in market discipline played a role in the triggering of the financial crisis? QUESTION 1 GUIDELINES For the first question (How has the Financial Crisis (2007- ) affected the Economy?), you are free to focus on a topic which relates to this particular crisis. The ‘Economy’ can be the UK or a country which with you are familiar. As an example you may be interested to focus on topics such as: real estate; bank collapse; LIBOR problems; country debt etc… You can determine yourself what period of time you are interested in studying (but it needs to start from 2007). QUESTION 2 GUIDELINES For the second question, please use the article: “Market Discipline, public disclosure and financial stability”, by Sowerbutts, R. and Zimmerman, P. (2016) in: The Handbook of Post Crisis Financial Modelling. E. Haven et al. Eds. Palgrave MacMillan. See library for the book (it is available in e-book and hardcopy). You must in your answer to the second question identify the four requisites for effective market discipline and from those four conditions you identified, then answer the second question (Has a break-down in market discipline played a role in the triggering of the financial crisis?). All essays must take into account the following reference structures: • You need to use work from other sources (journals for instance). Please properly reference your use of those sources! This is VERY IMPORTANT. All of your essays will be submitted to the plagiarism checking software – ‘TURN IT IN’. Your essay is YOUR work. Please peruse the essay – “Northern Rock: How A System of Financial Growth Brought the Bank to its Knees” as an essay which gives a good example of the reference use. • Besides the reference to Sowerbutts and Zimmerman (2016) (see above section), your reference list needs to contain at least TWO more references from “The Handbook of Post Crisis Financial Modelling”. E. Haven et al. Eds. Palgrave MacMillan. • References used in your essay need to be actively used. So do not list a reference in the reference list without actively using that reference in your text When referencing, please use the Harvard style1. Citations are listed in alphabetical order by the author’s last name. If there are multiple sources by the same author, then citations are listed in order by the date of publication. Please note: that approximatively half of your essay should be devoted to answer question 1 and the other half of your essay should be answering question 2. Thus, allocate about 1,000 words to answer question 1 and a 1000 words to answer question 2. You will get a guaranteed 20 marks out of 100 marks for your full essay if ALL of the following topics are addressed: 1. You have listed and made active use within your essay of a minimum of two references (besides the Sowerbutts and Zimmerman (2016) reference) from the “The Handbook of Post Crisis Financial Modelling”. E. Haven et al. Eds. Palgrave MacMillan 2. You correctly identified the four requisites for effective market discipline (as described in the article by Sowerbutts, R. and Zimmerman, P. (2016) in: “The Handbook of Post Crisis Financial Modelling”. E. Haven et al. Eds. Palgrave MacMillan. 3. Your essay has approximatively 1000 words allocated to question 1 and 1000 words allocated to question 2 (please within a boundary of +/- 20%).