The Eurozone Crisis

What you will learn

What's the future of the European Union and the Euro? The Eurozone Crisis is one of the most important issues in the world today. In this free three week mini-course, we cover both the institutions that make up the European Union and the underlying economics that are behind the crisis. We cover what is considered "consensus" knowledge by economists while also adding our own speculations in the mix.

We will be updating this course as the situation changes in Europe. Click the "follow this course" button to stay up-to-date.

This class does not require any particular knowledge of mathematics.

1. Background

The Three Sides of the Crisis

The Case for Optimism

The Case for Pessimism

European Central Bank

The Bailout funds

Why are high bond yields a problem?

Banking and fiscal union

The Italian Crisis of 2013

2. Further analysis of the problems

The costs of leaving the Eurozone

Remarks on individual countries

Currency union collapse in history

Indicators for Eurozone progress

Life on the precipice

Will austerity work?

Effects on other multilateral agreements

3. Underlying theory

Optimum currency areas

Optimum currency areas and the Euro

Why is the euro so bland?

Tyler Cowen lecture at the Bruno Leoni Institute (Optional)

Understanding the Eurocrisis (Optional)

4. Updates and extensions

Iceland: Causes of the Crisis

Iceland: Collapse