Università Roma Tre

In 2010, Greece’s government debt reached 300 billion Euro, the largest in its modern history, triggering an acute crisis centered on the European Union’s Mediterranean members. Continued economic difficulties and debates over immigration are increasing polarization of European politics and have led to a rising skepticism of the EU itself as a project, as evidenced by the UK referendum to exit the EU that passed in the summer of 2016. What are the various narratives of the crisis? How are governments, businesses and civil society responding? This course is designed to give students a practical understanding of the political-economic situation in Europe and a familiarity with theoretical principles applicable to economic crises in general. The course includes discussion of current political-economic issues as they develop during the semester. The centerpiece of the course is a weekend excursion in which students from Arcadia’s Rome and Athens centers meet with EU experts, civil society members or politicians. Past excursion locations include Rome, Athens, Barcelona, and Brussels.

This course is taught in English.

Required Texts:

Oatley, T. H. (2008). International political economy: Interests and institutions in the global economy. New York: Pearson/Longman. ISBN: 978-0205060634; Cost: To Be Determined.

Articles and selections include:

● Shambaugh, Jay C. "The Euro’s Three Crises." Brookings Papers on Economic Activity: 157-231. ISSN: 0007-2303.
● Collignon, Stefan, Europe’s Debt Crisis, Coordination Failure, and International Effects (July 12, 2012). ADBI Working Paper No. 370. Article is freely available at: http://www.stefancollignon.de.
● de Streel, Alexandre. The Evolution of the EU Economic Governance Since the Treaty of Maastricht: An Unfinished Task (September 15, 2013). Maastricht Journal of European and Comparative Law, Vol. 20, 2013. ISSN: 1023-263X.
● Caritas Europa. "Caritas Monitoring Report 2015: Poverty and Inequalities on the Rise." 2015. Report is freely available at:
http://www.caritas.eu/news/crisis-report-2015.
● Palley, Thomas I. "Financialization: What It Is and Why It Matters." Levy Economics Institute of Bard College Working Paper 525. Paper presented at a conference on “Finance-led Capitalism? Macroeconomic Effects of Changes in the Financial Sector,” sponsored by the Hans Boeckler Foundation and held in Berlin, Germany, October 26–27, 2007.
● Goda, Thomas, Ozlem Onaran, and Engelbert Stockhammer. "A Case for Redistribution? Income Inequality and Wealth Concentration in the Recent Crisis." 2014. Presented at the Progressive Economy Annual Forum 05.–
06.03.2014, Brussels. Freely available at: http://www.postkeynesian.net/downloads/working-papers/PKWP1305.pdf.
● Financial Crisis: Causes, Policy Responses, Future Challenges. Outcomes of EU funded Research. Brigette Young, European Commission, 2014. ISBN: 978-9279363375.
● Allard, Céline, Petya Koeva Brooks, John Bluedorn, Fabian Bornhorst, Franziska Ohnsorge, and Katharine Christopherson Puh. "Toward A Fiscal Union for the Euro Area." IMF Staff Discussion Notes 13.9 (2013): 1. ISBN: 978-1484307373/2221-030X.
Recommended Additional Reading Frieden, J. A. (2006). Global capitalism: Its fall and rise in the twentieth century.
New York: W.W. Norton.