(Fall 2013) ECN 295 End of the Party? The European Debt Crisis amid New Economic Challenges (Brouhle) (addtl course number pending, 4 credits)
** Can count toward requirement 4 ("Institutional Context of Policy") of the Policy Studies concentration
Financial crises, housing crashes, and rising unemployment have rocked economies around the world. These crises in Europe have made global headlines. In this course, we will examine the causes and consequences of the recent European financial and sovereign debt crisis. The course will begin with a discussion of some commonly proscribed objectives of government (e.g. to provide law and order; to promote full employment; to provide a social safety net) and the monetary and fiscal policy tools which governments use to achieve them. We will then consider how political and economic institutions like the EU and the Euro have impacted the policies adopted by national governments in recent economic crises. We will focus on how the response of national governments has been constrained by supranational institutions such as the European Commission and the European Central Bank. How have these national and supranational institutions impacted the daily lives of individuals? This exploration informs us as to what we can expect of governments, including our own, in addressing new economic challenges of the twenty first century. Plans for fieldtrips include financial institutions in London and elsewhere in Europe. Prerequisites: none.