Finance teaching in global recessionary conditions

As we know the global recession is knocking the doors of various countries is such a short span of time which seems to contradict the efficient market hypothesis in developing countries as well as developed countries. It raises the question why such contradiction is emerging in present scenario. Present study aims at identifying the contradictions found in financial theory during global economic downturn and new concepts emerged as a substitute of traditional financial aspects. Study reveals that various financial models could not predict such down turn and various new financial concepts emerged to replace theses traditional aspects like behavioral finance, multi-factor and agent based modeling and non-trival probability etc. 3P's of finance mix were also redefined, adapting the recent changes occurred during global financial crisis (G10, G11, G12,G13,G14,G15,G17 & G18)