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Economics 3 Pages

European Economy


European crisis by one of the authors of our textbook, Paul Krugman.

The text can be found in the NYT archives as well as here as PDF

The challenge is threefold: 

1. Write a summary of the main arguments brought forth in Krugman's article. "The main arguments brought forth are [...] " 

2. Connect the main arguments to the material presented in our textbook, by specifically referring to at least one of the many economic models you have been studying.

A specific reference should include the number of a chart or page in the textbook where the model is discussed, as well as a short summary of it. "We can analyze these events using the model of ____, which was presented in the textbook on page ___, chart ____. [...]" 

3. Briefly discuss events since the publishing of the article in 2011. 

How has the European crisis continued to play out? Is it still ongoing? Provide an assessment. 

To support your argument, cite (a) two newspaper articles/research publications, or (b) present a relevant chart of data this Database has all things European). 


Title: European Economy
Length: 3 pages (825 Words)
Style: MLA


European Economy

Europe in many ways works as a role model for other groups of countries worldwide. On one hand, they are an example of several countries coexisting in peace and promoting high levels of democratic freedom, human rights championing and cooperation. On the other hand, Europe’s financial situation is uniquely complex and has some advantages but serious limitations. Krugman discusses the disadvantages of the economic model currently in use in the Eurozone as well as exploring some of the options to prevent and deal with these financial crises. This work concurs with Krugman’s predictions on the current state of the European economy through an analysis of Krugman’s 2011 New York article and the current situation today.


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