The purpose of this final paper is to define and explain globalization and the economic crisis in more detail. Globalization is a term that has become ubiquitous in the modern era and, accordingly, appears in all spheres of human life. The cycle of globalization, in addition to numerous positive effects, also brings negative ones, and the economic crisis is precisely one of the negative effects of globalization. An economic crisis can be defined as a phase of the business cycle in which there is an interruption of strong economic growth and a sudden decline. Throughout history, the world has suffered numerous economic crises. Data from books, collections of papers, various scientific and professional manuals, articles and other types of works highlighted in the literature at the end of the paper were used in the preparation of this final paper. All the data used in the work are described in more detail throughout the work, and part of the work is presented in tables, graphics and pictures for easier understanding. The analysis of the most significant world economic crises that prevailed during the 20th and 21st centuries with reflections on the future development of Croatia is the main goal of this final thesis. First, each of the analyzed crises is generally defined, and then the causes and consequences of these crises are detailed and described. Furthermore, special attention is dedicated to the Croatian economy, and certain mechanisms that make it possible to strengthen the resistance of the Croatian economy to economic crises are described and explained in details.