Winter semester 2018-19
I. Main elements of the EU Single Market
- Corner stones in European integration, institutions, legislative procedure.
- Static welfare effects of free trade and customs Union.
- Free-trade agreements; global value chains.
- Static welfare effects of labour mobility.
- Migration in the European union – qualification, job allocation and job match.
- Capital mobility, technological progress and growth.
- EU competition policy – rationale and Instruments.
- Potential output and output gaps – concept, production function approach, structural unemployment rate, growth Accounting.
II. Monetary union and financial markets
- Pros and cons of a common currency.
- The 2008 financial crisis - characteristics, forces and costs.
- EU Banking Union – rationale, institutions, key issues.
- The European Monetary System (EMS) – basic Features.
- The Euro System – entry conditions and structure.
- Monetary policy in the euro area - main transmission channels, instruments and policies.
III. Fiscal Policy and governance
- Government balances and debt - key definitions, debt dynamics and cyclical adjustment.
- Fiscal policy - consolidation challenge and policy Impact.
- Fiscal governance in the EU – rationale, fiscal surveillance tools and their limitations, no-bail-out clause and credibility.
IV. Economic performance and surveillance
- Europe-2020 targets, macroeconomic imbalances procedure, structural reform surveillance.
The course material can be found on ILIAS (for registered students).
Lecture & Tutorial Dates
Lecture dates and rooms as written below:
|First Block, November 2018 :||Date||Time||Room|
|Second Block, January 2019 :|
Registration to the exam requires preparation of written answers on two papers.