30056 - EUROPEAN ECONOMIC POLICY

Students should be familiar with the basics of macroeconomics.

With 20 per cent of the world GDP, a unified market of around 500 million inhabitants, and the second most diffused currency in the world, the euro, the European Union is a key player in international markets. Understanding the origin, rationale and evolution of its policies is thus of paramount importance in order to design optimal corporate strategies for those firms operating in, or dealing with, the EU markets, as well as to assess the evolution of its Member States.

• The first part of the course explores the economic and policy aspects of the process of European integration, analysing the economic consequences of trade liberalization (customs unions, free trade areas), the liberalization of capital flows (Single market), and the co-ordination of economic policies (economic union). The policy elements behind this evolution (trade policy, competition policy) are analysed in parallel.
• The course then moves on in studying the main expenditure policies currently undertaken by the European Union (agriculture, cohesion) and financed via the EU budget, and their developments in terms of the green transition.
• The final part of the course is devoted to the analysis of the Economic and Monetary Union, and the response to the pandemic with the creation of European debt instruments.

• Understand how the international trading systems works, and the role the EU plays v.s. other countries (US, China,...).
• Have a thorough knowledge of the working of the main policies shaping the EU markets (agriculture, competition, cohesion, green transition).
• Understand the evolution of monetary and fiscal policies across the euro area.
• Understand the response of the EU to the pandemic and the geopolitical evolutions, and its implications for the future of the EU integration process.

• Assess the main drivers of the business environment in which firms operate when dealing with the European markets.
• Design appropriate company strategies in order to successfully operate in the EU market.
• Compare policies across EU member states.
• Understand how the EU is evolving in light of the geopolitical changing environment.

• Face-to-face lectures
• Guest speaker's talks (in class or in distance)
• Group assignments

Face-to-face lectures are integrated by specific contributions of guest speakers.

A group assignment (max 4 students), worth 30% of final marks, in the form of a short essay allows you to explore in detail one of the relevant policy issues currently discussed across the EU, and its implications for civic society. The group assignment will be carried out during the second part of the course.

Partial exams & assignment

The first partial written exam is worth 40% of the final mark. It covers the theoretical models on economic integration developed in the first part of the course, as well as the other topics covered until the date of the first partial, with a mix of open questions and MCs. 

It takes place on March 15th, at 2:00 pm.

A group assignment (max 4 students), worth 30% of final marks, in the form of a short essay allows you to explore in detail one of the relevant policy issues currently discussed across the EU, and its implications for civic society. The group assignment will be carried out during the second part of the course.

The second partial written exam is worth 30% of final marks. It covers the remaining topics of the course (not covered in the first partial and in the assignment), with a mix of open questions and MCs.

You can take it either on May 17th, at 2:00 pm, or on June 10th, at 2:00 pm. You have to pass both partial exams and the group assignment with at least 18/30 to obtain your final grade.

General Exam

The general exam covers the entirety of the course programme, with a mix of open questions and MCs.  You can take it on May 17th, at 2:00 pm, on June 10th, at 2:00 pm, or on September 4th, at 2 pm.

• In order to provide updated materials for a fast evolving subject as the process of European integration, the main materials of the course are provided via lecture notes (slides) uploaded on the course webpage.
• Companion materials can be found in a special book titled 'European Economic Policy' and created specifically for this course by McGraw Hill, by integrating materials of other existing textbooks. The textbook can be purchased in hard copy from the EGEA bookshop.