After carefully reviewing this week's lecture materials including the video lectures on Complex Systems (Slides 1 & 2) and the "three (3) NetLogo simulations on properties of complex systems," respond to the following question. You are encouraged (optional) to watch, "The Big Short (2015)," as this movie offers insights that could help you form your response(s) more effectively.

The market crash of 2008 is a prime example of a system's emergent behavior. Informed by this week's concepts, analyze and justify how the market crash represents an emergent phenomenon. A key question that you may want to address in your response includes: "How did the economic system's macro-level behavior of market crash arise from interactions among micro-level/individuals parts?" In addition, identify a number of micro-level components/behaviors that did not really signal the emergence of the market crash prior to this calamity (e.g., related to the element of surprise). An example of a micro-level behavior or component that was not a strong indicator of the market crash would be "people investing in real estate."