Economics of the European Union

Lecturers:

Prof. Dr. Karl Morasch, Prof. Dr. Axel Schaffer

Workload:

150 hours; Contact hours: 24h; Self-study: 126 hours

ECTS:

5 ECTS

Module no. (Course no.):

3770 (37701)

Prerequisites:

Students should possess a basic understanding of microeconomic and macroeconomic concepts as provided in introductory courses in economics.

Content:

The course starts with an introduction to the history and the institutions of the European Union. After that we deal with microeconomic aspects of the European integration, especially considering the impact of the EU as a customs union and with the further integration to a common market. We then proceed to macroeconomic aspects, in particular the implications of the Euro as a joint currency. Based on this, we discuss the international financial crisis of 2008 and the following Euro crisis as well as other recent EU events as the unfolding of the Brexit.

Learning outcomes:

Students obtain a sound understanding of the economic aspects of the European Union. Beyond that, the course provides information on the history and the institutions of the EU and knowledge about recent events like the Euro crisis or the Brexit in particular. By working together with students from different countries, participants also get to know the diverse viewpoints from people inside and outside the European Union.

Assessment:
Portfolio assessment with two parts, total time 6 weeks:

• First part: Written paper in English or German, 12 pages in length
• Second part: 15-minute oral presentation in English on the content of the written paper.

Course materials:

Baldwin, R., Wyplosz, C., The Economics of European Integration, 6th ed., London: McGraw-Hill, 2019.