Please answer the following briefly. Thank you! 2

1. Read financial crises literature and summarize what lessons can be derived pertaining to the avoidance of financial crises. Also what are the countermeasures to prevent the above stated predicament. (Mishkin as a reference minimum of 5 lessons)

2. Suppose you are a manager of credit extension program that seeks to benefit the poor, identify the policies that you will observe or promote that will lead to maximum benefits for the poor in a manner that high repayment of a loan is also advanced.