ASTK12314U Course: The political economy of the European Union - institutions, history and policy

The present-day European Union grew out of an economic project, and political economy has always been central to the progression of European integration. However, as the current crisis shows, this has not always been unproblematic. This module therefore takes a comprehensive approach to the role of political economy in the EU – considering the history of the process, the current policies, and the political debates that have characterised its evolution. It also focuses on the institutions responsible for creating the Union’s policies in times of crisis, to enable students to gain systematic insight into the key actors in the EU’s contemporary political economy.

The course is expected to be structured according to the following headings, although with the possibility of minor adjustments before the start of the course. Equally, there will be scope to alter the institutions studied in the second half of the semester according to participants’ interests.

History

1. An economic project: the early days of European economic integration
2. The road to the Euro

Policies

1. The CAP
2. Trade and aid policy
3. Regional development and the structural funds
4. The single market
5. The EMS and the Euro

Institutional case studies

1. The Eurogroup: pre-cooking the crisis
2. The ECB: OMTs, whatever it takes?
3. DG ECFIN: one market, one money
4. The Ecofin council and the SGP abeyance
5. The European council: negotiating the fiscal compact

Conclusions: theoretical analysis

1. Where do policies come from? Theories of institutionalism
2. Politics or economics? Shaping the EU’s policies

Competency descriptions

By the end of the course, students will have a sound knowledge of the various political-economic functions of the European Union, as well as a sense of the history of economic integration and the role various actors have played in it. The course will fit particularly well within a programme featuring other modues on EU politics or political economy. It will equip students with a strong basis for understanding the Euro crisis, and for comprehending more broadly how government institutions mediate between different demands. It would therefore prove useful to students hoping to go into a range of careers, particularly those involving public or quasi-public institutions.