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Writing a Thesis - Economics - Reed College
This assignment was created by one of our expert academic writers and demonstrated the highest academic quality. Place your order today to achieve academic greatness. The current Greek government debt crisis, also known as the Greek depression, was a major international political event in the European Union. Other sovereign states that comprised the European debt crisis included Portugal, Ireland, Spain, and Cyprus. ByGreece had the thirteenth largest economy within the 28 member states of the European Union.
This is apparent as, byhow to write a dissertation economics, Greece had recorded about 18 million international tourists. According to UNWTOGreece was the 7th most visited country in the European Union and the 16th most visited country. High GDP growth levels followed this in Greece, which was how to write a dissertation economics above the Eurozone average.
However, the country made another downward spiral with the Great Recession and subsequent Greek government-debt crisis, how to write a dissertation economics. The details of the research aim and objectives of the current study have been described in length below. What has caused these socio-economic implications and the current debt crisis?
Develop an understanding of how the Great Recession influenced the resulting debt crisis and how the Greek government influenced its economy to be led into such a crisis.
Investigate major economic decisions that produced economic instability in Greece. There is a need to highlight the various major decisions the Greek government took, especially its statistical credibility since Greece applied for Euro membership in Analyse the efficacy of current economic strategies that have been implemented, product recommendations based on those strategies to improve economic gain, and ensure that the current crisis is not repeated.
The research objectives are; Review economic trends of the Greek economy in terms of the economic and business cycle. This will reveal the current and historical performance of the economy. Data will be obtained from various sources such as the IMF database, World Bank database, and Eurostat. Review the current practices and policies that have been established to minimize the limit or reduce the negative effects on the economy.
This research aims to determine the socio-economic effects of the Greek crisis on the citizens of Greece, how to write a dissertation economics. The study looks to produce evidence-based recommendations and suggestions to improve its economy and prevent this crisis from occurring again.
Therefore, how to write a dissertation economics, the concerned research question of the current study is:.
Throughout the study, the question will be addressed, particularly when providing recommendations for improving the economy to return to a stable position.
There was a gradual and steady development of the industry and further shipping development in Greece, which was once dominated by an agricultural economy. During this time, the standard of living in Greece mirrored the economic trend of the times. During this time, Greece ranked first in Europe in terms of GDP growth. Allison and Nicolaidis also report that exports during and grew at an average rate of The Greek economy is supported significantly by the service sector, particularly by its shipping industry and tourism.
The Greek Merchant Navy is the largest globally, with Greek-owned vessels comprising 15 percent of the global deadweight tonnage as of Eurostat, Shipping has remained a traditional and critical sector player in the Greek economy from ancient times. However, Greece is also a significant agricultural producer in the EU. It is considered the highest percentage change in all of the EU Eurostat, Since Greece is a large economy situated in the Balkans, it has become a regional investor.
The country has become a large foreign investor of capital in Albania, Romania, Bulgaria, Serbia, and Macedonia. Between andGreece contributed Solely analyzing the yearGreece invested million euros in the Republic of Macedonia using companies such as Hellenic Petroleum to make imperative strategic investments Eurostat, As was closing, the Greek economy faced its most severe economic crisis how to write a dissertation economicscaused by various combinations of local and international factors.
The government revised its deficit from the predicted 3. Unfortunately, Greece has become the most shaken epicentre of the consolidated European debt crisis since the implosion of Wall Street in This led to the country being shut out of further borrowing in the financial markets.
From April to Maythe country headed towards bankruptcy, threatening to set off a new financial crisis. The masking of real deficit and debt levels resulted from the Maastricht Treaty, signed in Under the treaty, member states of the EU pledged to limit their deficit spending and debt levels.
Nonetheless, by the early s, a few EU member states, including Greece, failed to operate within limits set by the Maastricht requirements and instead began to securitize future government revenues to decrease their debts and deficits. The beginning of brought anxiety and tension due to excessive national debt as lenders began to demand higher interest rates from Greece who had higher debt levels, deficits, and current account deficits. A large percentage of debt was in the control of foreign creditors.
However, despite the diversity in economies, specific, vivid patterns separate strong economies from weaker ones or equally strong and weak ones. The Swedish economy holds strong finances, but its overall growth has seen a downward spiral sinceas export demand and consumption have fallen Economic Commission, Greece and Spain, however, have shown abstruse performance by doing well in some years and cataclysmically badly in others.
The EU witnessed robust economic growth between the end of World War II and the s. At the time, the consolidated gross domestic product per capita had increased by over 70 percent in EU countries, compared to less than 50 percent in OECD, Unfortunately, bythe GDP per capita in EU countries had fallen to 68 percent, with a great deal of Greece. According to the OECDthe decrease in GDP per capita of EU states is caused by persistently lower productivity, lower employment, and less human capital, as Europe only surpasses developed countries like the United States in physical capital.
The wide gap between the EU and the USA is attributed to the interaction between macroeconomic shocks in the s and s and the labour market institutions present in Europe, causing a rise in the unemployment rate Blanchard and Wolfers, However, Ark et al.
Figure 3- GDP per capita in EU Source; Balcerowicz, The overall picture obtained from the analysis of the period is also important for showing differences among the EU countries.
Different countries were known to display different growth performances duringwith each of the EU countries displaying different growth rates over time. Each country that is either seeing an acceleration or deceleration is affected by factors of changes in systematic forces generally changing the institutional framework; the fiscal stance; the age structure of the population; and strong shocks, with persistent and strong accelerations of public and private spending driven by strong capital inflows and excessive growth of credit Balcerowicz, Balcerowicz defined slowdowns as periods when the GDP per capita in a given country grew one percentage point slower than in the US for five years consecutively or longer.
On the other hand, Balcerowicz describes accelerations how to write a dissertation economics the periods when GDP per capita in a given country grew 0. It is common amongst the majority of industrialized countries that there is a primary concern toward population dynamics and economic development, how to write a dissertation economics, which focuses more on the effect that a declining new population and an increasingly ageing population haves.
According to Masona quickly growing population needs increased investment to conserve the labour to capital ratio and productivity. Aside from the fundamental relationship between population growth, savings, and economic growth, the accretion of human capital and institutional and restructuring issues also play a vital role.
Based on the study Mason,empirical evidence supports domestic savings as a significant investment source. Based on comparisons between countries in the EU, a correlation is revealed between the gross domestic savings ratio, the gross domestic investment ratio of 0.
This particular value is calculated from a one percent increase in savings from an increase in investment by 0. Hence, Solow suggests that capital depreciation can ultimately lead to an excess of net investments. However, a continual increase in the labour force may augment the process as more workers will be equipped with capital. Thus, under the neoclassical structure, an increase in investment provisionally enriches the growth rate and increases the level of output per worker, how to write a dissertation economics.
On the contrary, there is no available data on net investment for many countries, which may be considered reliable, how to write a dissertation economics. This is correct mostly for time how to write a dissertation economics data. For a lot of countries, how to write a dissertation economics, net national savings can be decomposed into government savings and private savings.
Furthermore, private savings can be further divided into corporate and household savings. Leff investigated the impact of population growth on aggregate savings studied the life cycle of savings models linked to savings and demographic factors. Leff also incorporated effects on the household level and the aggregate level too. Using the Leff structure, there is no similarity between current income and anticipated expenses as both consumption and earnings are assumed to vary in various ways over the how to write a dissertation economics cycle.
With life cycle savings, households can shift income between various time stages to acclimatize to the method of preferred disbursements. During time periods when earnings are to exceed the desired expenditures, households end up saving, and the reverse occurs when earnings do not exceed the desired expenditures.
Based on the life cycle savings theory, a decline in fertility influences savings as there is a reduced burden on childbearing costs leading to less consumption and an increase in savings at a household level, known as the dependency effect; and also reduced fertility causes population ageing which results in relatively older households increasing Wasmer, Overall, older households typically, on average, have a lesser rate of savings, which results in reduced savings.
In the scenario of how to write a dissertation economics growing population, households containing the young and those who are saving outstrip those households with the old or those of the dissaving.
However, as a result, a growing population leads to an increase in aggregate savings, known as the growth effect. The dependency effect generally implies a negative relationship between rapid population growth and savings, how to write a dissertation economics. The growth effect, on the other hand, means a positive relation to these factors. The dependency effect and growth rate effect are based on the life cycle hypothesis related to microeconomic theory.
However, on the macroeconomic level, changes in age structure affect savings as an increase of younger groups may increase consumption relative to production, which reverses with an increase in older groups. The major risk of uncertainty that is related to the crisis can bring about a catastrophic effect, how to write a dissertation economics.
This will include Greek depositors having difficulty getting their money out of banks, resulting in scarce government services. It can impact voters running to the polls to elect new leaders amidst the crisis contributing to the financial mishap. One in two young people are currently without work; wages and pensions have been cut, and many small and medium businesses have closed CNN Money, Aside from the terrible economic impacts of the crisis on Greece, various social implications have arisen.
According to How to write a dissertation economicsit was reported that 20, Greeks were made homeless during and about 20 percent of shops in the historic centre of Athens have become abandoned. Furthermore, an estimated 20 percent of Greeks no longer have enough money to cover daily food expenses Zetichik, With the Greek government under significant pressure from its European creditors to cut expenditure, it could not provide a safety net for its citizens to rely on. An example of this being a national program to move displaced people back to their homes through a stipend of a few hundred euros monthly which had severely faltered Zetichik, Further decisions of the Greek government can create a harsher living environment for Greek citizens who are already on the poverty line by willing to sign for another 4.
IMF officials such as Poul Thomsen, overseers of the Greek austerity programme, asserted that Greeks were now at their limit of tolerance for austerity, citing that the Greek people had done enough in terms of reforms at a significant cost to the population Pop, This is evident from a New York Times report how to write a dissertation economics, which showed the adverse conditions Greek families were living in.
Getting a First in Your Dissertation - Top Tips From a UCL 1st Class Graduate
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Dec 12, · Completing your PhD thesis in economics is almost the last step on the journey to get your PhD. It is also a giant step that will likely take two to Aug 09, · Choose any deadline. Plagiarism free. Unlimited free amendments. Free anti-plagiarism report. Completed to match exact requirements Proposal Writing Services Order Now. Estimated Reading Time: 11 mins A man may write at any time, if he will set himself doggedly to it. -- Samuel Johnson Keep right on to the end of the road. -- Harry Lauder EC Students Must Read This Document!!! 1 This handbook is based on the EC Economics Dissertation Handbook written by Prof. Peter Dolton
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