1.Critically assess the extent to which market failure and behavioural bias theory can explain financial crises in general, referring to evidence from one recent financial crisis. 2.Critically assess the extent to which market failure and behavioural bias theory can explain bank failures during the 2008 financial crisis, referring to evidence from one bank failure during the 2008 financial crisis. Suggested Structure for your Essay. 1.Start with a short introduction and say what your aim is and how you will achieve that aim within the essay. 2.You will need a short discussion of the main issue/focus/history and background to the topic. You will be presenting some background evidence here that will be drawn from a variety of sources many of which will be electronic and/or web pages. You must cite in the essay all your sources as you use them. Avoid direct quotes, it is bad style for this type of essay. Take the ideas and evidence from your sources, write it up in your own words and cite the sources after each relevant sentence. Use the Harvard style. If you are unsure how to deal with websites, then go to the library and get their Harvard referencing style guide or look for an electronic version of Cite Them Right, via the Library webpage using Library Plus. 3.You will need substantial sections where you develop the relevant concepts and theory that you are using to examine the issue. You must consider market efficiency, the economic market failure theory, regulation theory and aspects of the theory of behavioural finance (heuristics and biases). You must to look market failure issues such as lack of competition, externalities, moral hazard and adverse select for example, and behavioural factors such as herding, confirmation bias, overconfidence, present bias, etc. Try to critically evaluate differences of opinion or views. In this section you are more likely to have sources from text books, academic journals, research papers from global institutions such as the Bank for International Settlements, Federal Reserve Bank, and the Bank of England. Information and ideas from these must all be cited and referenced using the Harvard style. 4.You will then need a section where you use detailed evidence from different sources about what actually happened, linking this evidence to the issue using the theory and concepts you have identified. This is your analysis. You need to explain why the theory and/or concepts are of value in achieving your aim. You might be using them to examine causes and effects, evaluate outcomes, or judge responsibility for outcomes for example. The idea is to discuss, evaluate and comment. You need to present evidence to examine the value of the theory. Evidence may come from data, examples and/or previous academic studies. Your comments are your views, and should be drawn and based directly from your discussion and evaluation. Your sources should be text books, academic journals, research papers from global institutions such as the Bank for International Settlements and the Bank of England. Information and ideas from these must all be cited and referenced using the Harvard style 5.A short conclusion. Conclusions should not summarise everything that has been said.