The headlines cry “bailout” and “economic crisis” daily. The stock market fluctuates wildly. Banks tumble, only to be bought by other banks. Politicians point fingers and argue about potentially historic legislation.

What’s really going on?

This Friday, a panel of experts from USC College’s Department of Economics will help make sense of the current financial crisis. They will explain how this mess was created, what is actually being proposed in Congress, and whether the bailout is a rescue or a boondoggle.

Open to all members of the USC community, “What’s Really Happening on Wall Street?” will be held at 12:30 p.m. on October 3, 2008, in Taper Hall 202.

Simon Wilkie, professor and chair of economics, will moderate. An expert on economic policy design and game theory as applied to business strategy, Wilkie is co-director of the USC Center in Law, Economics and Organization and executive director of USC’s Center for Communication Law and Policy.

USC College economists Robert Dekle, Yong Kim and Michael Magill will serve as panelists.

Dekle studies international finance, open-economy and development. The professor of economics has extensive experience in government and international organizations, including appointments to the Federal Reserve Board of Governors, the Federal Reserve Bank of New York and the International Monetary Fund.

An assistant professor of economics, Kim researches applied macroeconomic theory, including the housing market. Quoted in a recent Daily Trojan article, Kim pointed out that the current crisis may make loans harder to come by for students, and jobs harder to find for graduates.

Magill, professor of economics, specializes in the economics of financial markets and the economics of uncertainty. His research often investigates how demographics influence the stock market; Magill was the first economist to develop a mathematical formula proving correlation between the two.

Friday’s event is presented by the Department of Economics and the Office of Academic Programs’ Series on Current Events.