At the end of this learning unit, the student is able to :
- Identify and understand the main economic concepts underlying the build-up and functioning of the EMU.
- Explain the power and institutional dynamics shaping the Eurozone governance.
- Apply economic and political sciences concepts when analyzing contemporary EMU debates and reforms.
- Understand and replicate the strategical behavior of Eurozone actors.
The contribution of this Teaching Unit to the development and command of the skills and learning outcomes of the programme(s) can be accessed at the end of this sheet, in the section entitled “Programmes/courses offering this Teaching Unit”.
- Analysis of the costs and benefits of monetary integration
- Analysis of the stages of European monetary integration.
- Analysis of the specific issues related to the functioning of EMU: centralized monetary policy combined with decentralized fiscal policies; stability and growth pact constraints; differences in economic circumstances and asymmetric shocks.
- Political history of the EMU creation and the buildup of Eurozone imbalances
- Analysis of the Eurozone governance (institutions, ideas and political struggles)
- Analysis of the Eurozone crisis framing and resolution process (why the crisis was framed as a fiscal crisis, why austerity policies were chosen as the main political answer to the crisis)