Greek Economic History (3rd semester for the academic year 2021-22)

Elective Courses

Course Description

The main focus of the course is the study of the development of the Greek economy from the 19th century to the 21st century, as well as the study of the transformations and crises that the Greek economy faced in this course.  The main determinants of the evolution of the economy are examined and special emphasis is placed on the role of economic and political parameters and institutions, as well as on the impact of the international environment and economic policy.  After describing the evolution of the economy in the history of modern Greece, focusing on the course of the main macroeconomic variables and the political, economic and institutional developments from the 19th century to the present, the lectures focus on four central issues.  First, the structural changes that the Greek economy has undergone, from a largely agricultural economy in the 19th century to a post-industrial services economy in the 21st century.  Second, the relationship between fiscal developments and monetary policy, both in times of war and in times of peace.  Third, the relationship between integration into the international economic and monetary system, external borrowing, and the periodic financial and currency crises experienced by the Greek economy.  These relationships are of great importance for economic and monetary stability.  Fourth, the interdependencies between the political system, the quality of social and economic institutions and the effectiveness of the state.  These interdependencies are of great importance for the process of economic development.