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LEUSL2711 - Economic and Monetary Union
Credits :
4
Lecturer :
Mode of delivery :
Face-to-face , second term, 22,5 hours of theory.
Language of instruction :
French
Learning outcomes :
The aim of the course is to provide students with a solid understanding of the process that led to Economic and Monetary Union (EMU), and to the increasing integration of European financial markets. The course examines the benefits and drawbacks resulting from this integration process.
Prerequisites :
None
Co-requisites :
None
Course contents :
The course focuses on describing the process of monetary and financial market integration in Europe, situating it within the wider global context and highlighting its key moments and developments. The course includes study of the theoretical underpinnings of the process, which then serves as a basis for analysis of the challenges, benefits and problems associated with monetary and financial integration.
Main topics:
- Current state of affairs, costs and benefits of monetary integration: impact of economic, financial and monetary integration, political and economic obstacles;
- International context of the European integration: analysis of the Bretton Woods system, fixed and floating exchange rates, international role of the euro;
- Stages of European monetary integration;
- Stages of European financial integration: free movement of capital, development of the financial services market, impetus given by the single currency;
- Specific issues related to the functioning of EMU: centralised monetary policy combined with decentralised fiscal policies; stability and growth pact constraints; differences in economic circumstances and asymmetric shocks.
Planned learning activities and teaching methods :
Ex cathedra presentations
Assessment methods and criteria :
Written or oral examination.
Recommended or required reading :
None
Other information :
None
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