Eurocrisis and Monetary&Fiscal Policy

Topics: Inflation, Monetary policy, European Union Pages: 9 (2819 words) Published: April 28, 2012
Word Count: 1718 words

Student ID:| Name and Surname:|
N7265212| Luowa Bu|

FACULTY OF BUSINESS Assignment Cover Sheet

Campus| GP| School| Economics and finance|
Unit Name| Economics 2|
Unit Code| efb223| Due date| Friday, 27 January 2012 by 11.00 pm| Tutor’s Name| Alen-Igor Radonjic|
Tutorial Day/Time| Summer School 2011|
Essay Topic| "Discuss how the eurocrisis highlights the need for coordination between fiscal and monetary policy."|

DECLARATIONI declare that: (1) this essay is a entirely my own work; (2) no part of this essay has been: (i) written for me by any other person; and (ii) copied from any other person’s words or ideas, except as specifically acknowledged through the use of inverted commas and references; (3) this essay has not been submitted for any other unit at QUT or any other institution; (4) I understand that this may be scanned as part of the assessment process and that plagiarism detection software may be utilised; and (5) I have read and abided by all of the requirements set down for this assignment and relevant QUT policy dealing with academic honesty and integrity.| Type your name here:| Luowa Bu| Date:| 27/01/2012|

The Unit Coordinator may exercise a right not to mark this assignment if the above declaration has not been signed.If the above declaration is found to be false, you may receive reduced or zero marks for this assignment, and you will be dealt with under QUT’s Student Rule No. 29 - Academic Dishonesty, and the associated procedures for Academic Dishonesty which are available at:|


Criteria| High Distinction| Distinction| Credit| Pass| Fail| Identifying and critical analysis of key elements of the topic.| Systematic and thorough discussion of all key elements. | Most key elements are identified and well discussed| Some key elements identified and sufficiently discussed.| Very limited discussion of key elements.| Key elements ignored or very superficially dealt with.| Relating economic theory to practical application.| Outstanding application of economic theory, with evidence of wide reading.| Good links between theory and practice, with evidence of wide reading.| Good application of theory, but with limited reading.| Theory and practice loosely and unclearly connected.| Unable to demonstrate any significant understanding of economic theory or application.| Use of quantitative and / or qualitative data in support of the analysis| Excellent use of data in support of analysis; very high standard of diagrammatic and conceptual analysis.| Good presentation and use of empirical data to support arguments.| Good use of data; but data not well presented. | Very limited use of data; data poorly presented.| Failure to provide appropriate and adequate data. | Communication and referencing| Writes fluently and clearly uses language and format appropriate to the essay genre; high standard and consistent referencing. | Language is generally fluent and clear; format mostly appropriate to the essay genre; high standard and consistent referencing.| Writes fluently with occasional grammatical errors; consistent referencing.| Meanings apparent, but not clearly and fluently expressed; some referencing errors and/or omissions.| Meanings confusing with frequent grammatical errors; format inappropriate to the essay genre; no or inconsistent referencing.|


Introduction: reasons why euro debt crisis began
The euro debt crisis is began and spread by the Greek debt crisis. There are three reasons why this happens. First, the tax system is irrational, evading taxes is seriously. Second, the expenditure is too much. Third, Greek government cannot publish currency by themselves to create a proper inflation to increase the government revenue (Stein, 2011)....

References: Assia, J. The euro: bust or robust?. (2010). inFinance, 124(2), 46-47. Retrieved from
Auerback, M
Cesaratto, S., & Stirati, A. (2010). Germany and the European and Global Crises. International Journal Of Political Economy, 39(4), 56-86. doi: 10.2753/IJP0891-1916390403
European Central Bank (2012)
Hawkes, S. (2012, Jan 14). The doom graders. The Sun, pp. 6. Retrieved from
Hodson, D., & Quaglia, L
Navarro, V., & Schmitt, J. (2008). The Crisis of the European Union: Weakening of the EU Social Model. Challenge (05775132), 51(1), 69-77. doi: 10.2753/0577–5132510104
Pauly, L
Quaglia, L., Eastwood, R., & Holmes, P. (2009). The Financial Turmoil and EU Policy Co-operation in 2008. Journal Of Common Market Studies, 4763-87. doi:10.1111/j.1468-5965.2009.02014.x
Robson, M
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