Common themes across courses:
The common themes is the economic analysis of European economic governance and the articulation and coherence of the economic policies analyzed in each of the proposed subjects.
The existence of a single market together with a common monetary policy in the absence of a political union presents unique challenges to the European economic construction. The diversity and nature of the actors involved (ECB, national fiscal policies, European budget, independent authorities that ensure the functioning of the single market, etc.) creates potential tensions and requires specific mechanisms for their resolution.
Specific topics of each subject:
¿ Governance of the Single Market: Competition and Regulation: the four freedoms and the Eurozone¿s economic size has converted it in regulatory heavyweight. In addition, the conduct of competition policy has profound implications on the functioning of the internal market. A correct functioning of the internal market is a prerequisite for the survival of the Eurozone.
o Free movement of goods, capital, labour and the freedom of establishment require that competition within the Eurozone is unhindered by both private and public restrains and distortions to trade.
o The creation of the Single Market coupled with a single currency presents enormous opportunities but also opens the door for large scale restrictions on competition:
¿ Merger control
¿ Abuse of dominance
¿ Illicit agreements to restrict competition
o The existence of market failures often requires public intervention. Tension between correcting market failures and the creation of new competition distortions. The State Aid balancing test
o The ¿Brussels Effect¿: third country adoption of EU norms and the emergence of regulatory spheres of influence.
