Michelle H. L. Turnovsky
Analysis of economic issues relating to the European union. Explores the institutional aspects, the attempt to coordinate social and economic policies - welfare, employment, commercial, fiscal, and monetary - and the economic linkages between the European Union and the rest of the world. Prerequisite: 2.0 in ECON 301.
This course focuses on the economic aspects of the European Union. The historical and institutional backgrounds are surveyed briefly in order to understand the special nature of the EU as an economic entity. Then the integration and trade issues are presented; the evolution from a customs union to a single market and the trade relations with the rest of the world and specially with the US (negotiations through the WTO etc. ). Next the international finance aspects are investigated, including the various efforts toward monetary integration: from the “snake” to the EMS and eventually a monetary union with a single currency, the Euro, and the European Central Bank. A number of specific issues are also raised: the common agricultural policy, unemployment, etc.
Student learning goals
General method of instruction
Two lectures - 2 hours each - presentation of material - discussion
Read the material and understand the economics at the introductory level for the Euro students - start ahead with the research for the paper
Class assignments and grading
One research paper which can be extended into a senior thesis for the Euro students and 2 non-comprehensive exams
1/3 for each the 2 exams and the paper