diff --git a/core/dbt/events/eventmgr.py b/core/dbt/events/eventmgr.py
index e52dae706b5..c3444103207 100644
--- a/core/dbt/events/eventmgr.py
+++ b/core/dbt/events/eventmgr.py
@@ -13,7 +13,7 @@
 from dbt.events.format import timestamp_to_datetime_string
 
 from dbt.events.base_types import BaseEvent, EventLevel, msg_from_base_event, EventMsg
-
+import dbt.utils
 
 # A Filter is a function which takes a BaseEvent and returns True if the event
 # should be logged, False otherwise.
@@ -175,7 +175,7 @@ def create_line(self, msg: EventMsg) -> str:
         from dbt.events.functions import msg_to_dict
 
         msg_dict = msg_to_dict(msg)
-        raw_log_line = json.dumps(msg_dict, sort_keys=True)
+        raw_log_line = json.dumps(msg_dict, sort_keys=True, cls=dbt.utils.ForgivingJSONEncoder)
         line = self.scrubber(raw_log_line)  # type: ignore
         return line
 
diff --git a/core/dbt/events/functions.py b/core/dbt/events/functions.py
index 9a1c2340a2d..6a2b7f4fe97 100644
--- a/core/dbt/events/functions.py
+++ b/core/dbt/events/functions.py
@@ -13,6 +13,7 @@
 import uuid
 from google.protobuf.json_format import MessageToDict
 
+import dbt.utils
 
 LOG_VERSION = 3
 metadata_vars: Optional[Dict[str, str]] = None
@@ -200,7 +201,7 @@ def stop_capture_stdout_logs():
 # the message may contain secrets which must be scrubbed at the usage site.
 def msg_to_json(msg: EventMsg) -> str:
     msg_dict = msg_to_dict(msg)
-    raw_log_line = json.dumps(msg_dict, sort_keys=True)
+    raw_log_line = json.dumps(msg_dict, sort_keys=True, cls=dbt.utils.ForgivingJSONEncoder)
     return raw_log_line
 
 
diff --git a/core/dbt/utils.py b/core/dbt/utils.py
index 9ddebcaf71a..26a97778d38 100644
--- a/core/dbt/utils.py
+++ b/core/dbt/utils.py
@@ -16,8 +16,6 @@
 from pathlib import PosixPath, WindowsPath
 
 from contextlib import contextmanager
-from dbt.exceptions import ConnectionError, DuplicateAliasError
-from dbt.events.functions import fire_event
 from dbt.events.types import RetryExternalCall, RecordRetryException
 from dbt import flags
 from enum import Enum
@@ -40,6 +38,7 @@
     Sequence,
 )
 
+import dbt.events.functions
 import dbt.exceptions
 
 DECIMALS: Tuple[Type[Any], ...]
@@ -337,15 +336,18 @@ class JSONEncoder(json.JSONEncoder):
     def default(self, obj):
         if isinstance(obj, DECIMALS):
             return float(obj)
-        if isinstance(obj, (datetime.datetime, datetime.date, datetime.time)):
+        elif isinstance(obj, (datetime.datetime, datetime.date, datetime.time)):
             return obj.isoformat()
-        if isinstance(obj, jinja2.Undefined):
+        elif isinstance(obj, jinja2.Undefined):
             return ""
-        if hasattr(obj, "to_dict"):
+        elif isinstance(obj, Exception):
+            return repr(obj)
+        elif hasattr(obj, "to_dict"):
             # if we have a to_dict we should try to serialize the result of
             # that!
             return obj.to_dict(omit_none=True)
-        return super().default(obj)
+        else:
+            return super().default(obj)
 
 
 class ForgivingJSONEncoder(JSONEncoder):
@@ -369,7 +371,7 @@ def translate_mapping(self, kwargs: Mapping[str, Any]) -> Dict[str, Any]:
         for key, value in kwargs.items():
             canonical_key = self.aliases.get(key, key)
             if canonical_key in result:
-                raise DuplicateAliasError(kwargs, self.aliases, canonical_key)
+                raise dbt.exceptions.DuplicateAliasError(kwargs, self.aliases, canonical_key)
             result[canonical_key] = self.translate_value(value)
         return result
 
@@ -389,9 +391,7 @@ def translate(self, value: Mapping[str, Any]) -> Dict[str, Any]:
             return self.translate_mapping(value)
         except RuntimeError as exc:
             if "maximum recursion depth exceeded" in str(exc):
-                raise dbt.exceptions.RecursionError(
-                    "Cycle detected in a value passed to translate!"
-                )
+                raise RecursionError("Cycle detected in a value passed to translate!")
             raise
 
 
@@ -603,12 +603,14 @@ def _connection_exception_retry(fn, max_attempts: int, attempt: int = 0):
         ReadError,
     ) as exc:
         if attempt <= max_attempts - 1:
-            fire_event(RecordRetryException(exc=str(exc)))
-            fire_event(RetryExternalCall(attempt=attempt, max=max_attempts))
+            dbt.events.functions.fire_event(RecordRetryException(exc=str(exc)))
+            dbt.events.functions.fire_event(RetryExternalCall(attempt=attempt, max=max_attempts))
             time.sleep(1)
             return _connection_exception_retry(fn, max_attempts, attempt + 1)
         else:
-            raise ConnectionError("External connection exception occurred: " + str(exc))
+            raise dbt.exceptions.ConnectionError(
+                "External connection exception occurred: " + str(exc)
+            )
 
 
 # This is used to serialize the args in the run_results and in the logs.