Since it is an
introductory course to the economics of Europe and the EU, an
important part of the course is used to familiarize the student
with the impressive EU apparatus, its institutions, their role, the
relationship between the EU and the Member States, the local and
regional level – all however seen from an economic perspective.
Apart from this, the course deals with two focus areas of the
economics of Europe. The Single Market and The Economic and
Monetary Union (EMU). In order to analyse these two areas, the
course goes through the economic history and theoretical
foundations of the two areas, including an introduction to the
essential economics of preferential liberalization with specific
reference to free trade areas and customs unions like the EU.
Specific areas such as EU competition and state aid policieis, EU
trade policies, the common agricultural policy (CAP) and regional
policies are introduced. As regards the EMU, the monetary history
of the EU, the theories behind monetary and fiscal policies in the
EU, and last but not least the Stability and Growth Pact and the
Euro-Pact is introduced to the student. In order to give the
student a better feeling of the workings of these policy areas,
some specific Member State – EU examples are used, looking for
instance, at the economics and the role of EU in the German
unification, Italy’s move to the Euro, the Greek debt crisis
This course is an
introductory course to the EU, its institutions and its policy
areas seen from an economic perspective. The aim is to provide the
student with a general “first time” overview of the main economic
policy areas of the EU, the rationale behind why they are dealt
with in this way at the European level instead of at the Member
State or at the regional level, and how the different areas are
linked to each other. Besides, the student will be introduced to
some of the main theoretical and empirical sources in the study of
the economics of Europe and the European Union.
The course is primarily relevant for those students wishing to
get systematically introduced on a first time basis to the EU’s
unique apparatus seen from an economic perspective. As such the
course may be regarded as an appetizer or a road map into the
fascinating but complex study of EU’s Economic
Literature Readings –
Baldwin, Richard and Charles Wyplosz: The economics of European
Integration, 3.nd edition, 2009: Chapter 1, 2, 3, 4, 5, 6, 7, 8.
(with some selected exemptions in each chapter)
Neal, Larry. The Economics of Europe and the European Union.
Cambridge. 2007. Chapters 12-20.
Gros and Thygesen. European Monetary Integration. Second
edition. 1992. Part III. The Economics of monetary union. Pp.
Dahl, Martin, 2011, Notes on theories of European
The course is targeted at
students interested in getting a first time understanding about
Europe and its economy, and in particular the EU and its
institutions seen from an economic perspective. It does not require
any advanced economic skills and can for instance be recommended
for foreign students with little or no previous experience in
studying the economics of the EU. The course could also be taken as
part of a preparation for the course the Economics of the EU,
provided at the Institute of Economics. Importantly, taking the
latter course would also require some additional micro- and
macroeconomic knowledge, that notably is not required for our
course here on the Economics of Europe and the EU.