The relationship between economic crisis and subjective well-being of Greek University students

Abstract

In this study, we examine the relationship between the perceived effects of the economic crisis on the subjective well-being of Greek University students. The sample consisted of 203 students in five institutions of higher education across the country (mean age: 21,7 years). Participants were administered two questionnaires. The first tool explored the perceived consequences of the economic crisis. Its construction was based on thematic analysis of a focus group discussion. The discussion explored the perceptions of a group of eight students on how and to what extent they were affected by the economic crisis. The second tool was the psychological well-being questionnaire of the World Health Organization (Bradley, 2013). Demographic data regarding sex, age, and SES were also collected. Findings suggested a negative association between the perceived effects of the economic crisis and the subjective well-being of students. Furthermore, participants seemed to realize the significant impact of the economic crisis in their lives. Specifically, they reported that they had to reduce daily expenses and to adjust their studies taking into account the economic crisis. They also declared pessimism regarding future employment. Findings are discussed in light of the literature on the effects of the economic crisis on young people.