Professor Ordonez holds a BA in Business Administration and Management, an MSC in Economics and Finance from the University of Warwick, and a Ph.D in Economics. Since 2008, Professor Ordonez has been Head of the Ph.D Program in Economics at the University Jaume I and Secretary to the Institute of International Economics. As Head of the Economic Integration Research Group and visiting Scholar at the University of Copenhagen, Professor Ordonez’s research interests include non-linear models, applied time series econometrics and international macroeconomics and unemployment.
Given the Professor’s expertise, the objective of the seminar was to highlight inequality trends with regard to regional economic integration, based on a case study of the Euro Zone. Additionally, the lecture served as an opportunity to showcase a series of theories linked to the establishment of the Euro Zone as well as to investigate how inequality trends were affected by the Euro crisis. One of the objectives was to address potential shocks to Europe’s inequality trends, from the time of the establishment of the Euro zone up until Brexit. The seminar’s imperative was also to provide a comprehensive understanding of the establishment of the European Union as a mechanism to ensure lasting peace between European countries through economic and political unity. And, the Maastricht Treaty that followed was supposed to foster durability of convergence among these nations.
Professor Ordonez’s seminar was also designed to complement his research study on the topic of “Inequality and Unemployment Patterns in Europe: Does Integration Lead to Real Convergence”. In showcasing his research findings, he argued that real convergences that were exacerbated by the economic governance of the Euro zone were the root causes of the Euro crisis. This is contrary to the common argument that the Euro crisis was a direct result of ‘mismanagement of the national fiscal policies of some European countries’.
The topic of his seminar and the deliberations provoked the interest of not only the 25 students who attended it but also Professor HAN, Baran and Professor TABAKIS, Chrysostomos, who were present for the lecture. Given the rich context of the research findings and the timeliness of the seminar, the participants engaged in constructive discussions, posing questions on the policy implementations and regulations which contributed to the crisis, and focusing on areas such as the establishment of the Monetary Union. Overall, the two-hour-long lecture provided the listeners with a chance to gain an inside perspective on the crisis, the contributions of the various stakeholders and some insights into the possible future of the European Union.
By Stella CONSELHO (2018 MDP, Mozambique)