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TRAN-O614

European Economic Governance

academic year
2024-2025
2025-2026

Course teacher(s)

Francesco Corti (Coordinator)

ECTS credits

5

Language(s) of instruction

english

Course content

  • Treaty Foundations, the Single Market and the Social Acquis

  • The EMU and the Maastricht Architecture, SGP and the Lisbon Strategy

  • Economics of EU enlargement and Single Market imbalances

  • Europe 2020 Strategy, the Great Financial Crisis and the EU Response

  • The Eurozone Crises: causes, management (Troika) and impact

  • Evolving EMU Governance: Fiscal Compact, ESM and Banking Union

  • Investment and Growth: Juncker Plan and the future of EU Budget

  • Prospects of further EMU Reform, CMU and fiscal capacity

Objectives (and/or specific learning outcomes)

By the end of this course, having completed the essential reading list and attended classes, students should be able to:

  • Demonstrate a thorough understanding of the integration process and of the economic and political rationale for the establishment of the Single Market and EMU.

  • Understand how EU integration and macroeconomic policies in the EU and in the Euro area have been developed and have impacted different countries.

  • Demonstrate an advance understanding of the main causes of the economic crisis and their interrelations.

  • Demonstrate a critical understanding of EU’s key policies, instruments and underlying economic models, with particular reference to the instruments which emerged in the aftermath of the financial crisis.

  • Assess critically the proposals which have been outlined to strengthen the economic governance and enhance integration both at the EU and Euro area level.

Teaching methods and learning activities

References, bibliography, and recommended reading

Main textbook: The Eurozone Crisis and the Transformation of EU Governance

Edited by Maria Joᾶo Rodrigues and Eleni Xiarchogiannopoulou (Ashgate, 2014)

Contribution to the teaching profile

  • The aim of the course is to examine the EU integration process and the evolution of economic governance in Europe from the perspective of the creation of a single market and the single currency, up until the recent financial and economic crisis, including various reform options of the EMU.

  • The course should provide a broad understanding of the political, economic and social dimensions of European economic governance and equip students with all the fundamentals to critically assess the ongoing transforming process that is affecting European economic integration. A strong policy orientation will be combined with a political economy perspective in order to show students that the economic governance in the Union is not a politically neutral process. To this end, policy issues will be presented from both the Union and member states’ viewpoint.

  • Special emphasis will be given to the economic crisis and how the EU responded to it. We will look at the causes and consequences of the Great Recession and the Eurozone crisis, point out the policy responses to the breakdown of global finance in 2007-8, explore the impact of the crisis on the European economy and society, and examine various interpretations of the crisis and alternative proposals for recovery and growth.

Evaluation

Method(s) of evaluation

  • Other

Other

The evaluation is based on a continuous assessment consisting in:

The assignment can either take the form of a presentation in class or of a written essay on a topic agreed with the instructors.

The mid-term examination consists of a test with closed and open questions on key facts related to EU economic governance.

The final oral examination, which is likely to take place in June 2017, will comprise all topics covered in class.

Mark calculation method (including weighting of intermediary marks)

  • Attendance and participation in class: 10%

  • Assignments: 25%

  • Mid-term Test: 25%

  • Final Oral Examination : 40%

Language(s) of evaluation

  • english

Programmes