ECONOMICS OF EUROPEAN INTEGRATION |
Codice
|
1051841 |
Lingua
|
ENG |
Corso di laurea
|
European studies |
Programmazione per l'A.A.
|
2019/2020 |
Curriculum
|
EU's Law and Economics |
Anno
|
Primo anno |
Unità temporale
|
Secondo semestre |
Tipo di attestato
|
Attestato di profitto |
Crediti
|
9
|
Settore scientifico disciplinare
|
SECS-P/01
|
Ore Aula
|
72
|
Ore Studio
|
-
|
Attività formativa
|
Attività formative caratterizzanti
|
Canale Unico
Docente
|
REGANATI FILIPPO
(programma)
Structure of the Course
Part one – Economic Integration, trade and the single market
1. Free trade vs. protectionism
• Free trade
o Which are the gains from trade ?
• Trade policies
o Instruments of trade policy
o Effects of trade policy
o Arguments for protectionism
Readings
- Carbaugh, Robert, International Economics, Thompson, 2008 ch. 4 and 5
2. Multilateralism vs. regionalism
• The Multilateral trading system
o From GATT to WTO
• The Regionalism
• Examples of Regional Trade Agreements
o From the EEC to the EU
o EFTA,
o NAFTA,
o Mercosur,
o APEC,
o ASEAN
Readings
- Baldwin, Richard and Charles Wyplosz The Economics of European Integration, McGraw Hill, 2015 ch. 1
- Robert Carbaugh International Economics, Thompson, 2008 ch 6
- A.M. El-Agraa, The European Union: Economics and Policies, 2011, Cambridge University Press ch. 1
3. The Theory of Economic Integration
• Definition
o What Is Economic Integration?
o The Possible Gains from Economic Integration
• Stages of economic integration
• The Theory of Customs Union
o Static effects
o Dynamic effects
• The Theory of Common Market
Readings
- W. Molle, The Economics of European Integration2006, Ashgate ch. 5 and 6
- A.M. El-Agraa, The European Union: Economics and Policies, 2011, Cambridge University Press ch 6 and 7
4. Economic integration and the New Economic Geography
• Facts on Europe’s economic geography
• Theory
o Comparative advantage
o New economic geography
• EU Regional Policy
Readings
- Baldwin, Richard and Charles Wyplosz The Economics of European Integration McGraw Hill, 2015 ch. 10
5. Foreign direct investment and regional integration
• Foreign Direct Investment and Multinational Enterprises
• The role of multinational firms in the world economy
• The theory of multinational firms
• Regional integration and foreign direct investment
Readings
- Jepma C, Jager, H. and Kamphuis, Introduction to International Economics, Longman Ch. 5
Part Two – Monetary Union and economic crisis
1. Essential tools of macroeconomics
• Gross Domestic Product, Unemployment and Inflation
• Goods Markets in Closed Economy: Composition of GDP, Demand for Goods (Consumption, Investment, Government Spending), Determination of Equilibrium Output and Multiplier Effect. Investment-Saving Relation.
• Financial Markets in Closed Economy: Demand for Money, Money Supply and the Equilibrium Interest Rate. Monetary Policy and Open Market Operations. The Role of Banks. Monetary Base, Money Supply and Money Multiplier.
• The IS-LM Model in Closed Economy: Goods Markets and the IS relation, Financial Markets and the LM relation. Equilibrium in IS-LM model: Fiscal Policy and Monetary Policy. Liquidity trap.
Readings
- Olivier Blanchard, Macroeconomics, 7th Edition, ©2017 |Pearson.
- Olivier Blanchard, Alessia Amighini, Francesco Giavazzi, Macroeconomics: A European Perspective, ©2017 |Pearson.
2. Essential tools of international macroeconomics
• Goods Markets in Open Economy: The Choice between Domestic and Foreign goods. Exchange rate. Demand for Domestic Goods and Net Exports. Goods Market Equilibrium and Multiplier Effect. Marshall-Lerner Condition. The J-curve. Saving, Investment and the Trade Balance.
• Financial Markets in Open Economy: The Balance of Payments. The Choice between Domestic and Foreign Assets: Uncovered Interest Parity Condition. Financial Market Equilibrium. Purchasing Power Parity Condition.
• The IS-LM Model in Open Economy (Mundell-Fleming’s Model): Simultaneous Equilibrium in Goods and Financial Markets, Equilibrium of Balance of Payments and the BP curve, Macroeconomic Policy with Flexible Exchange Rates, Macroeconomic Policy with Fixed Exchange Rates.
Readings
- Olivier Blanchard, Macroeconomics, 7th Edition, ©2017 |Pearson.
- Olivier Blanchard, Alessia Amighini, Francesco Giavazzi, Macroeconomics: A European Perspective, ©2017 |Pearson.
- Jepma C, Jager, H. and Kamphuis, Introduction to International Economics, Longman Ch. 2
- Appleyard D. and Field, A. International Economics, Mc Graw Hill Ch. 26 and 27
3. The international monetary system
• The gold standard
• The Bretton Woods System
• Post Bretton Woods
• Today exchange rate regimes
Readings
- Baldwin, Richard and Charles Wyplosz The Economics of European Integration McGraw Hill, 2015 ch. 14
4. European Monetary Integration
• Why monetary integration?
• The development of monetary integration in the EU
• The theory of optimum currency areas;
o Is the EU an OCA?
Readings
- A.M. El-Agraa, The European Union: Economics and Policies, 2011, Cambridge University Press ch. 10
- Baldwin, Richard and Charles Wyplosz The Economics of European Integration McGraw Hill, 2015 ch. 15
5. The ECB: Making monetary policy and financial markets
• The ECB policy rules and practice;
• financial institutions and financial integration
Readings
- Baldwin, Richard and Charles Wyplosz The Economics of European Integration McGraw Hill, 2015 ch. 16
6. Fiscal Policy in EMU
• Public deficit and debt
• The role of fiscal policy in EMU;
• The Stability and Growth Pact and the coordination of macroeconomic policy;
Readings
- Baldwin, Richard and Charles Wyplosz The Economics of European Integration McGraw Hill, 2015 ch. 17
7. Brexit: what will happen next ?
Readings
- Lecture notes
Baldwin, Richard and Charles Wyplosz The Economics of European Integration, McGraw Hill, 2015
De Grauwe, Paul. (2014) Economics of Monetary Union, Tenth edition, Oxford University Press.
|
Date di inizio e termine delle attività didattiche
|
-- -
-- |
Date degli appelli
|
Date degli appelli d'esame
|
Modalità di erogazione
|
Tradizionale
|
Modalità di frequenza
|
Non obbligatoria
|
Metodi di valutazione
|
Prova scritta
Prova orale
|
Docente
|
IMBRUNO MICHELE
(programma)
Structure of the Course
Part one – Economic Integration, trade and the single market
1. Free trade vs. protectionism
• Free trade
o Which are the gains from trade ?
• Trade policies
o Instruments of trade policy
o Effects of trade policy
o Arguments for protectionism
Readings
- Carbaugh, Robert, International Economics, Thompson, 2008 ch. 4 and 5
2. Multilateralism vs. regionalism
• The Multilateral trading system
o From GATT to WTO
• The Regionalism
• Examples of Regional Trade Agreements
o From the EEC to the EU
o EFTA,
o NAFTA,
o Mercosur,
o APEC,
o ASEAN
Readings
- Baldwin, Richard and Charles Wyplosz The Economics of European Integration, McGraw Hill, 2015 ch. 1
- Robert Carbaugh International Economics, Thompson, 2008 ch 6
- A.M. El-Agraa, The European Union: Economics and Policies, 2011, Cambridge University Press ch. 1
3. The Theory of Economic Integration
• Definition
o What Is Economic Integration?
o The Possible Gains from Economic Integration
• Stages of economic integration
• The Theory of Customs Union
o Static effects
o Dynamic effects
• The Theory of Common Market
Readings
- W. Molle, The Economics of European Integration2006, Ashgate ch. 5 and 6
- A.M. El-Agraa, The European Union: Economics and Policies, 2011, Cambridge University Press ch 6 and 7
4. Economic integration and the New Economic Geography
• Facts on Europe’s economic geography
• Theory
o Comparative advantage
o New economic geography
• EU Regional Policy
Readings
- Baldwin, Richard and Charles Wyplosz The Economics of European Integration McGraw Hill, 2015 ch. 10
5. Foreign direct investment and regional integration
• Foreign Direct Investment and Multinational Enterprises
• The role of multinational firms in the world economy
• The theory of multinational firms
• Regional integration and foreign direct investment
Readings
- Jepma C, Jager, H. and Kamphuis, Introduction to International Economics, Longman Ch. 5
Part Two – Monetary Union and economic crisis
1. Essential tools of macroeconomics
• Gross Domestic Product, Unemployment and Inflation
• Goods Markets in Closed Economy: Composition of GDP, Demand for Goods (Consumption, Investment, Government Spending), Determination of Equilibrium Output and Multiplier Effect. Investment-Saving Relation.
• Financial Markets in Closed Economy: Demand for Money, Money Supply and the Equilibrium Interest Rate. Monetary Policy and Open Market Operations. The Role of Banks. Monetary Base, Money Supply and Money Multiplier.
• The IS-LM Model in Closed Economy: Goods Markets and the IS relation, Financial Markets and the LM relation. Equilibrium in IS-LM model: Fiscal Policy and Monetary Policy. Liquidity trap.
Readings
- Olivier Blanchard, Macroeconomics, 7th Edition, ©2017 |Pearson.
- Olivier Blanchard, Alessia Amighini, Francesco Giavazzi, Macroeconomics: A European Perspective, ©2017 |Pearson.
2. Essential tools of international macroeconomics
• Goods Markets in Open Economy: The Choice between Domestic and Foreign goods. Exchange rate. Demand for Domestic Goods and Net Exports. Goods Market Equilibrium and Multiplier Effect. Marshall-Lerner Condition. The J-curve. Saving, Investment and the Trade Balance.
• Financial Markets in Open Economy: The Balance of Payments. The Choice between Domestic and Foreign Assets: Uncovered Interest Parity Condition. Financial Market Equilibrium. Purchasing Power Parity Condition.
• The IS-LM Model in Open Economy (Mundell-Fleming’s Model): Simultaneous Equilibrium in Goods and Financial Markets, Equilibrium of Balance of Payments and the BP curve, Macroeconomic Policy with Flexible Exchange Rates, Macroeconomic Policy with Fixed Exchange Rates.
Readings
- Olivier Blanchard, Macroeconomics, 7th Edition, ©2017 |Pearson.
- Olivier Blanchard, Alessia Amighini, Francesco Giavazzi, Macroeconomics: A European Perspective, ©2017 |Pearson.
- Jepma C, Jager, H. and Kamphuis, Introduction to International Economics, Longman Ch. 2
- Appleyard D. and Field, A. International Economics, Mc Graw Hill Ch. 26 and 27
3. The international monetary system
• The gold standard
• The Bretton Woods System
• Post Bretton Woods
• Today exchange rate regimes
Readings
- Baldwin, Richard and Charles Wyplosz The Economics of European Integration McGraw Hill, 2015 ch. 14
4. European Monetary Integration
• Why monetary integration?
• The development of monetary integration in the EU
• The theory of optimum currency areas;
o Is the EU an OCA?
Readings
- A.M. El-Agraa, The European Union: Economics and Policies, 2011, Cambridge University Press ch. 10
- Baldwin, Richard and Charles Wyplosz The Economics of European Integration McGraw Hill, 2015 ch. 15
5. The ECB: Making monetary policy and financial markets
• The ECB policy rules and practice;
• financial institutions and financial integration
Readings
- Baldwin, Richard and Charles Wyplosz The Economics of European Integration McGraw Hill, 2015 ch. 16
6. Fiscal Policy in EMU
• Public deficit and debt
• The role of fiscal policy in EMU;
• The Stability and Growth Pact and the coordination of macroeconomic policy;
Readings
- Baldwin, Richard and Charles Wyplosz The Economics of European Integration McGraw Hill, 2015 ch. 17
7. Brexit: what will happen next ?
Readings
- Lecture notes
Baldwin, Richard and Charles Wyplosz The Economics of European Integration, McGraw Hill, 2015.
De Grauwe, Paul. (2014) Economics of Monetary Union, Tenth edition, Oxford University Press.
|
Date di inizio e termine delle attività didattiche
|
-- -
-- |
Modalità di erogazione
|
Tradizionale
|
Modalità di frequenza
|
Non obbligatoria
|
Metodi di valutazione
|
Prova scritta
Prova orale
|
|
|