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Course: 2024/2025

Economic Foundations of the Eurozone

(19184)

Master in European Economic Governance (Plan: 474 - Estudio: 377)

EPC

Coordinating teacher: SIOTIS , GEORGIOS

Department assigned to the subject: Economics Department

Type: Compulsory

ECTS Credits: 6.0 ECTS

Course: 1º

Semester: 1º

Skills and learning outcomes

Link to document

Description of contents: programme

CThe course has two parts. The first part consists of the history of European Monetary Integration and theory of OCAs, with particular emphasis the costs and benefits of currency areas. The first part ends with a brief introduction to the uses of quantitative methods for economic analysis. The second part analyses the actual workings of EMU. Students will be given access to two SPOCs (introduction to Microeconomics and introduction to Macroeconomics) prepared by UC3M PART I Week 1: European monetary integration in historical perspective Week 2: Costs of a common currency Week 3: Critique to OCA model Week 4: Benefits of Currency Areas Week 5: Currency Areas, Cost-benefit análisis Week 6: Introduction to Numerical Methods in Economics PART II Week 7: Completing EMU and Debt Sustainability Analysis (DSA) ¿ The Fragility of EMU and how to complete it Week 8: Monetary policy in the EMU ¿ The Monetary Policy of the Eurosystem: concepts, strategy and instruments, Part I Week 9: Monetary policy in the EMU ¿ The Monetary Policy of the Eurosystem: concepts, strategy and instruments, Part II Week 10: EU Fiscal Governance: Rules and Institutions Week 11: The euro as an international reserve currency Week 12: The Stability and Growth Pact (SGP) and the European Semester Week 13: Student presentations, Part I Week 14: Student presentations, Part II

Learning activities and methodology

Clase teórica / Theoretical lessons Clases prácticas / Practical lessons Tutorías / Office hours Trabajo individual del estudiante / Individual student work Exámenes parciales y finales / Continuous and final assesments

Assessment System

% end-of-term-examination 60
% of continuous assessment (assigments, laboratory, practicals...) 40

Continuous assessment (40%) + Exam (60%) 
The 40% of continuous assessment is split between the two parts of the course:
¿	Part I (40%): 35% from group work on optimal currency areas (OCA) + 5% from attendance and participation.
¿	Part II (60%):  55% from group work on topics on European Integration + 5% from class participation
Groups should have between 3 and 4 students and be the same for both group works.

Grading: 
The final grade will be a weighted average of the course's workload (40%) and the final examination (60%). The final examination will last 120 minutes and will comprise 30 multiple choice question covering both Part I and Part II.

The course syllabus may change due academic events or other reasons.