ECON 326

Crisis and Change in Greece and Europe

Major Discipline(s):
Fall Semester, Spring Semester
Related Discipline: Political Science cross listed with PSCI 326

Co-taught by a political scientist and an economist, this course explores the causes, the present reality and the future implications of the Greek and European crises. By using a variety of analytical tools and perspectives the course offers a comprehensive examination of the ongoing crisis, which has tested the limits of European solidarity and has evolved into one of the greatest challenges to the European integration project and the common currency.

The economic component concentrates on the historical economic, political and institutional factors which largely determined the economic performance and shaped the structural features of the Greek economy. The historical approach offers a broad overview of the major changes in policy regimes, economic institutions, ideas and policies and an understanding of the EU-Greek economic and institutional relations. This background will help students to better understand the long term economic and structural factors that caused the economic crisis and the rationale that lies behind the Economic Adjustment Programmes agreed between Greece and its European creditors.

The political economy component provides an overview of the Greek/Eurozone crisis from institutional, political and economic perspectives. It sets the Greek crisis within the greater European context, with a special emphasis on the interdependence and interconnection between the systems. This section places a special emphasis on recent developments in the Greece - since the January 2015 election of the left wing SYRIZA government and examines possible scenarios for the future, for both Greece and Europe.