The economic impact of COVID-19 crisis on the European union

undergraduate thesis

• Title (croatian): Ekonomski utjecaj COVID-19 krize na Europsku uniju
• Author: Monika Katana
• Mentor: Tomislav Globan (mentor)
• Granter: University of Zagreb; Faculty of Economics and Business; (Department of Macroeconomics and Economic Development); Zagreb
• Defense date and country: 2021-09-13, Croatia
• Scientific / art field, discipline and subdiscipline: SOCIAL SCIENCES; Economics

Abstract

Coronavirus pandemic has caused increasingly severe economic consequences, which is why packages of measures to mitigate the consequences for the economy are being prepared around the world from China, US and even EU. Each country has its own approach of dealing with the crisis. Sectors that are most endangered and need to be urgently provided with some kind of state intervention have to be analyzed first. Thus, the EU is already elaborating more detailed recommendations for a series of measures to be developed and offered to countries to help the industrial sectors most affected by the consequences caused by the spread of the virus. Fund of 25 billion euros was set up from existing sources as they responded to the current economic crisis. This economic crisis is special in its economic features and it was caused by the health crash of contamination with Covid-19 virus. High-speed arrival and growth in the whole world are important features which gives it the nature of a worldwide crisis. External shock because of the pandemic is the principal cause of the crisis which is different from preceding depressions and recessions. There are four negative shocks that were created by this crisis: shock in demand, shock in supply, shock of pessimistic projection and macroeconomic management’s potential shock of inappropriate and insufficient response.

• Keywords: Coronavirus; pandemic; EU; policies
• Language: english
• URN:NBN: urn:nbn:hr:148:919716
• Study programme: Title: Business Economics in English; Study programme type: university; Study level: undergraduate; Academic / professional title: sveučilišni/a prvostupnik/ prvostupnica(baccalaureus/ baccalaurea) ekonomije (sveučilišni/a prvostupnik/ prvostupnica(baccalaureus/ baccalaurea) ekonomije)
• Type of resource: Text
• File origin: Born digital
• Access conditions: Access restricted to students and staff of home institution
• Created on: 2021-09-16 09:29:29