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.

Channel 1
CARMELO PIERPAOLO PARELLO Lecturers' profile

Program - Frequency - Exams

Course program
1. The facts of macroeconomics and the European Union (EU) (a) National accounts: A review; (b) Development, unemployment and inflation Ref .: DFSCP, Ch.. 1-3; 2. Basic Macro models without inflation (a) The basic Keynesian model; (b) closed economy IS-LM model in closed economy; (c) open economy IS-LM model; Ref .: DFSCP, Ch.. 4-8 3. Basic Macro models with inflation (a) AD-AS model in closed and open economy; (b) The macroeconomics of the European Economic and Monetary Union Ref .: DFSCP, Ch.. 9-10 4. The economy of the Monetary Union (a) Costs and benefits of a common currency; (b) The theory of optimal currency areas; (c) Notes on the economic institutions of the European Union Ref .: (DG, Ch. 1-6 and 9)
Prerequisites
Economia politica
Books
- “Economia dell’Unione Monetaria”, XI edizione, di Paul De Grawe, Il Mulino, Bologna.
Frequency
Attendance is recommended
Exam mode
Preliminary Quiz Written exam Oral exam, if required by the Instructor
Lesson mode
Analytical models will be fully developed in Room. For some arguments, slides will be used.
  • Lesson code1051470
  • Academic year2024/2025
  • CourseManagement and corporate law
  • CurriculumSingle curriculum
  • Year2nd year
  • Semester1st semester
  • SSDSECS-P/01
  • CFU6
  • Subject areaEconomico