Analyze the validity of the Efficient Markets Hypothesis

Analyze the validity of the Efficient Markets Hypothesis

Analyze the validity of the Efficient Markets Hypothesis (EMH) in view of the Global Financial Crisis (GFC). Assessing the arguments for and against EMH in light of the GFC experience, on balance, does the GFC refute the EMH, or is EMH still valid despite the GFC? What have we learned about EMH from the GFC, and what can we learn about the GFC from EMH? The readings below are sufficient for the assignment, you are not expected to research additional resources （2500 words）

R. Ball: The Global Financial Crisis and the Efficient Market Hypothesis – What have we Learned?. 2009 (Journal of Applied Corporate Finance, Vol. 21, No. 4 (Fall), pp. 8-16

I. Harper & M. Thomas: Making sense of the GFC: Where did it come from and what do we do now? (Economic Papers, Vol. 28: No. 3, September 2009, pp. 196-205)

S. Easton & P. Kerin: Market efficiency and the Global Financial Crisis. 2010 (Australian Economic Review, Vol. 43: No. 4, pp. 464-468)

J. Siegel: Efficient Market theory and the Recent Financial Crisis. 2010 (Working Paper, Institute for New Economic Thinking: Cambridge UK)