Read and analyze the case study on the Greek Depression in 2010

Case Study: Greek Depression in 2010
In 2olo. the Greek government had to inform the European C ommission on how it would control
its budget deficit and improve the performance of its economy. The government?s debt is so high
that agencies assessing the creditworthiness of the government downgraded it (which would
mean more interest has to be paid to raise finance). Proposals were likely to include a 10% cut in
government spending.
Note: Please also read: Nelson e! a]. (2010). Greece ‘3 Debt Crisis: Overview, Policy Responses.
and Implications. which is available in Moodle. The paper will give you some background
information about the Greek-debt-crisis during the years 2009-2010.
Question:
1. Outline two possible economic objectives of the Greek government.
2. Explain why the government’s budget deficit might be in a large deficit.
3. What would the effect on aggregate demand and Gross Domestic Product (GDP) be if
the government cut public spending by 10%?
4. What actions can the government take to increase national income grth in Greece?
5. If the Greek economy is in recession what would you expect to be the effect on:
a) Inflation? Explain your answers
b) Unemployment? Explain your answers.

instruction/Case Study for Short Writing Assignment
instruction

1. The short writing assignment is worth 100 points (counted for 10% of the total course grade).

2. The the date is on MONDAY, “III/1.16 in class. importantly, late submission will NOT
be accepted and will NOT earn any credit.

3. You are required to read and analyze the case study on the Greek Depression in 2010 (in
page 2 of this document). and provide thoughtful and wellowritten responses/arguments to the
questions at the end of the reading.

4. in order to receive full credit, your responses/arguments to the questions MUST represent
your understanding from the course materials, supporting information relevant to the
questions, key principles and professional examples demonstrating application of the
principles, and innovation and creativity in your thoughts based upon theories.

5. Your writing assignment MUST: (l) he fig ?flaw fl Times New Roman
i? nt 12 ? ii ran In s tittl an ? tah
relevant reterenees and citations (ADA h highly recommended}:

6. Below are the grading criteria:

Responses to the Due on MONDAY. imam”. In class
questions
Expected Level of i A minimum lt?flglh of 3?5 p135
Performance ?r Discussion is substantive and relates to key principles.
Point Value? ?I Uses personab”professional examples demonstrating application of princ’ples.
80 ‘ (X) .’ ?r is submitted according to the deadline.
pom?) ?r Language is clear. concise md easy to understand. Uses terminology appropriately and is
lo icall o 3? nized
Marginal Level of ?r A length of 3-5 pages.
Performance ?r Makes reference to key principles. but is not well developed or integrated in the response.
Point Value’ 3′ Refers to personalfprofessional exarrniles. but is not well integrated in the response.
6 0 80 .? ? ?r Submitted according to the deadline.
porn 8) ?r is adequately written, but may use some terms incorrectly; may need to be rend two or
more times to be understood
Fail Point Value: ‘ Missed Deadline.
(0 _ 60 points) I Less than 3 pages
?I Did not follow the (canal indicted in the instruction
?r Contains no reference to key principles; if key principles are present. there is no evidence
the learner understood principles. or key principles are not integrated into the response.
?I There is no reference to pcrsonalfprofessional examples.
?I Poorly written; terms are used incorrectly; cannot comprehend learner’s ideas afler
re ated readi g