Economy in the European Union

Course objectives

Knowledge and understanding: students will be able to understand and reconstruct the economic and institutional process that led to the construction of the European Union. They will also be able to define and analyse the economic and social impact of EU institutions and policies. After providing basic theoretical tools useful for understanding the characteristics and economic implications of the European Union, students will be given an overview of the key institutions that characterize the Union with reference to the role they play in explaining the economic dynamics of the area. Applying knowledge and understanding: students will be able to use theoretical and analytical tools provided during the course in order to outline the conditions that ensure the proper functioning of monetary unions as well as those representing an obstacle. With particular reference to the European Union, students will be provided with useful tools to understand the causes of the recent crisis and to discuss possible policy solutions. Making judgement: students will develop autonomy of judgement regarding the costs and benefits of a monetary union, the potential economic implications of institutions and policies that characterize such unions with particular reference to the European Union. Communication skills: students will develop the ability to use the analytical tools of economic analysis in order to understand the functioning of the European Union and to illustrate, in written and oral form, the characteristics and economic implications of the Union. Learning skills: students will be able to learn about the salient features and evolution of monetary unions and, in particular, of the European Union by being able to interpret what they have learned using the theoretical categories and analytical tools of economic analysis.

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SILVIA CORETTI Lecturers' profile

Program - Frequency - Exams

Course program
Costs and Benefits of a Monetary Union · Costs of a common currency · The theory of optimal currency areas · The benefits of a common currency · Costs and benefits compared The Monetary Union · The fragility of incomplete monetary unions · How to complete a monetary union · The transition to a monetary union · The European Central Bank · Monetary policy in the Eurozone · Fiscal policies in Monetary Unions · The Euro and financial markets​
Prerequisites
To sit for the examination, it is necessary to have passed the Political Economy exam.
Books
“Economia dell’Unione Monetaria”, di Paul De Grawe, Il Mulino, Bologna
Teaching mode
The course is delivered through traditional face-to-face lectures. In order to enhance student cohesion and their ability to develop specific research topics, flipped classes are scheduled starting from the fifth week of the course
Frequency
Attendance is not compulsory.
Exam mode
A multiple-choice quiz will be used to select students admitted to the oral exam. The written test will be held in the multimedia classroom
Bibliography
1. Economics of Monetary Union by Paul De Grauwe, Il Mulino, Bologna – Chapters 1–6. 2. Slides and supplementary materials on selected topics prepared by the instructor. 3. Selected scientific articles. 4. Presentations produced by students.
Lesson mode
The teaching is based on lectures delivered with the aid of slides. Group work is planned.
  • Lesson code1051470
  • Academic year2025/2026
  • CourseManagement and corporate law
  • CurriculumSingle curriculum
  • Year2nd year
  • Semester1st semester
  • SSDSECS-P/01
  • CFU6