74570 - EUROPE AND THE GLOBAL ECONOMY - 2018-2019 - OUTLINE AND READING LIST
74570 - EUROPE AND THE GLOBAL ECONOMY - 2018-2019
The course offers an overview of Europe’s model of economic integration and explores how this model responds to the challenges of a more competitive global market place. During the course we will explore topical themes such as the impact of the financial crisis (2009-2012) on the long-term stability in the euro area, the post-Brexit trade arrangements and the role of the EU in bilateral trade agreements.
The course is organised in two modules. Teaching will be structured around frontal lectures, classroom presentations and home assignment of short papers and/or reading.
Class attendance is strongly recommended.
While it is not compulsory, it is advised that students will have previously taken International Economics Advanced (78980), so to make themselves familiar with the main concepts and analytical tools in the theory and practice of international trade, exchange rates and international capital movements.
They should also consider taking Europe in World Politics (74571) in order to learn about the historical evolution of the EU and its interaction with other regional organizations (Nafta, Mercosur, African Union, ASEAN).
Exams are held during the main exam periods (June, July, September and February). The written exam is organised around the two modules, with two or three open-ended questions for each module (1 hour for each module).
The written exam is 70% of the final grade, with 20% awarded for coursework and 10% for class participation.
This module focuses on both theory and empirical analysis of Europe’s economic integration so that students can acquire the necessary tools to critically assess recent events and follow the current debate on Europe’s economic future.
Classes are held in late March and April 2019.
- Economic integration in Europe
- a. history, facts and institutions
- b. the microeconomics of European integration
- c. EU micro policies
- Europe and the changing dynamics of the world economy
- trade integration
- foreign direct investment and financial globalization
- demographics, migration, and productivity growth
- labour market and wages
- globalisation and technology
- Europe and the others
- Trade and development
- Brexit and trade arrangements outside the EU
The following book will be used for Module II. However, this does not include all the material covered in lectures and classwork. A full reading list will be available at the beginning of the course and other material used in class will be made available afterwards.
Richard Baldwin and Charles Wyplosz, The Economics of European Integration (London: McGraw Hill Education, fifth edition, 2015), chapters 1-8.
Other Essential Reading
European Commission, Free Trade is a source of economic growth (Directorate General for Communication, Brussels, 2016) https://publications.europa.eu/en/publication-detail/-/publication/9a2c5c3e-0d03-11e6-ba9a-01aa75ed71a1
European Commission, Report from the Commission to the Parliament and the Council on Trade and Investment Barriers. 1 January 2017 - 31 December 2017, http://trade.ec.europa.eu/doclib/docs/2018/june/tradoc_156978.pdf
European Commission, A new EU trade agreement with Japan (Directorate General for Trade, July 2018) http://trade.ec.europa.eu/doclib/docs/2017/july/tradoc_155684.pdf
European Commission and High Representative of the Union for Foreign Affairs and SecurityPolicy, EU-China: A strategic outlook (Joint Communication to the European Parliament, the European Council and the Council, March 2019) https://ec.europa.eu/commission/sites/beta-political/files/communication-eu-china-a-strategic-outlook.pdf
The Economist, ‘Europe’s textile war with China - and itself’, Sept 1st 2005 http://www.economist.com/node/4314327