Foundations of the Crisis: Pre-Chávez Venezuela (1958-1998)

Define 'Dutch Disease' and illustrate its mechanisms using a simplified diagram of a national economy with and without a booming natural resource sector.

Analyze a historical chart of oil prices versus Venezuelan GDP and government spending from 1970-1998 to identify the extent of oil dependency.

Describe the key features and power-sharing agreements of the 'Punto Fijo' political system (1958-1998).

Use a Power/Interest Grid to map the key political and economic actors (e.g., political parties, business elites, labor unions, military) in pre-Chávez Venezuela.

Explain the causes and socio-economic consequences of the 'Caracazo' riots in 1989 as a critical turning point in Venezuelan politics.