what the economic consequences were in both the short-term and long-term,

This assignment will ask you to do your own research on a past crisis, describing what caused it, what the economic consequences were in both the short-term and long-term, what the policy response was

This assignment will ask you to do your own research on a past crisis, describing what caused it, what the economic consequences were in both the short-term and long-term, what the policy response was, and what we can learn from it that might help us in the present crisis. You must choose one of the following crises:

The 1994 Mexican Peso Crisis

The 1997 Asian Financial Crisis

The 2010 European Debt Crisis

As part of your research, you must cite at least 5 sources. I don’t require a special format for the references, you can just provide me with website links, but they must all be in English. Every answer must be in your own words, you cannot simply copy and paste.

What caused the crisis? (5 marks)

What was the economy of the country (or hardest hit countries, in the case of a crisis that covers multiple countries) like before, during, and after the crisis? Use economic measures like GDP, inflation, and unemployment, and any other information you feel is relevant, to describe the state of the economy. (7 marks)

Explain, to the best of your ability, the impact on the financial system. Explain whether problems in the financial system caused any problems in the rest of the economy. (5 marks)

How did the crisis end? How long did it take to recover? (3 marks)

What was the policy response to the crisis? Explain actions taken by the government(s), central bank(s), and any international organizations that were involved in trying to resolve the crisis. What were they trying to accomplish? Were these measures successful? Why or why not? Were there any unintended consequences? (10 marks)

What can we learn from the crisis that might apply today? (5 marks)

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