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The course describes the economic and institutional process that led to the construction of the European Union. Students, after passing the exam, will 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 and illustrating the main mechanisms of their decision making. 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. Finally, the main international trade policies for a single market will be studied, also considering the recent “trade wars”.