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Fall 2013 - 63600 - PA388K - Advanced Topics in Public Policy

European Financial Crisis

Instructor(s): Varoufakis, Yanis
Unique Number: 63600
Day & Time: T 6:00 pm -9:00 pm
Room: SRH 3.220
Waitlist Information:For LBJ Students: UT Waitlist Information
Course Overview

Topics for these policy seminars have included environmental and natural resources policy, health-service delivery policy, social welfare policy, transportation policy, science and technology policy, international affairs, national security, urban and regional growth policy, and political campaigns.


Section Description

After six decades of gradual European integration, the implosion of the financial sector in 2008 sparked a crisis in the Eurozone. This crisis is now causing rifts within the common currency area which may well lead to its full or partial disintegration. Indeed, the European Union itself is unlikely to remain immune to the ensuing tumult, as countries both within and without the Eurozone are reconsidering their position vis-à-vis the European ‘project’. The repercussions for the global economy of the recession in Europe, which is symptomatic of broader weaknesses in the design of its institutions, are significant and feed back into Europe’s crisis.

This segment places the current financial crisis in Europe in its global, financial, economic, political and social context. Sessions will be divided in three segments. The first segment will examine the run-up to the Eurozone’s creation, its links to the preceding creation of the Single Market and German Reunification, as well as the economic and financial links between the United States, Germany and Japan during two distinct postwar periods (1944-1971 and 1971-2000). The second segment will look at the Eurozone’s architecture focusing on the period between its inauguration, in 2000, and the global financial crisis of 2008. Lastly, the third segment will be devoted to a careful analysis of Europe’s evolving responses to the crisis.

Students’grades will be determined by one presentation and two pieces of written work: a 1500 word paper on a specific topic (to be provided by the instructor) and a longer essay on the crisis itself.