The main objective of the course is to achieve a better understanding of the theoretical principles, but, more important, of the practical application and consequences of monetary, fiscal and structural economic policy in the EMU and their impact on the business environment. In particular, the course deals with the theory of optimal currency areas, the EMU compliance with it and the particular macro-economic policy of the EMU and its member states. After analysing shortly the theoretical concepts on which the EMU is based, we discuss in further detail the weaknesses of the institutional set up of the EMU, the Eurocrisis, the impact of the Covid-19 crisis and the recently adopted measures and the way forward. The course is very much linked to recent events: impact of Covid-19 crisis on the EU’s budget and fiscal policy, Climate Change and the review of the monetary policy strategy, the new rules and new institutions, the difference between German and French economic thinking, the EU-UK relations after Brexit and the outlook for the EMU.
For more information, consult the ECTS card.