Student guide International Program A.Y. 2009/10

The basic aim of the course is to offer an economic interpretation of European integration through an analysis of its main building blocks.
After an appraisal of the historical evolution of European economic integration, of the importance of Europe in the world economy and of the main institutions and economic policy-making process in the EU, the course will look at the customs union and the common external tariff all along with the EU commercial policy and international economic relations.
The analysis of the community budget and of the Common Agricultural Policy and its reform will be followed by a thorough discussion of the internal market, the problem of its completion and the long standing crisis of European Union's competitiveness vis-à-vis the USA and Japan. The last step of European integration will be approached through the examination of the evolution of European monetary integration, taking also into consideration the theory of optimum currency areas, the costs of renouncing to monetary sovereignty, the role of the European Central Bank, the Maastricht criteria and the Stability and Growth Pact. The course will close with a discussion on the costs and benefits of EU enlargement to the East European countries.

Prerequisites: prior completion of basic microeconomics and macroeconomics

1. Historical evolution of European economic integration. Europe in the world economy;
2. Institutions and economic policy making in the EU;
3. The community budget; 4. The customs union and the common external tariff;
5. The common commercial policy and the EU international economic relations;
6. The Common Agricultural Policy and its reform;
7. The internal market and the problem of its completion;
8. The European Union's competitiveness vis-à-vis the USA and Japan;
9. History of European monetary integration and the theory of optimum currency areas;
10. The Maastricht criteria and the Stability and Growth Pact;
11. The European Central Bank and its monetary policy;
12. The enlargement to the East European countries.

The exam, held at the end of the course, will be in a written form

- Artis, M., Nixson, F., The Economics of the European Union, Third Edition, Oxford University Press, 2001.
- Baldwin, R., & Wyplosz, C. The Economics of European Integration, McGraw-Hill, 2004
- De Grauwe, P., Economics of Monetary Union, Oxford University Press, 2003
- Senior Nello, S., The European Union, McGraw-Hill, 2005
Other material will be distributed during the course.