Korea University, Graduate School of International Studies

Year 2016,Spring Semester

Special Topics in EU Studies II
European Economic Policy and Current Issues
Yoo-Duk Kang[1]

Course Description and Objectives:

This course focuses on the origins and development of the European Union and its current policies. Understanding the EU is important because the EU possesses the mostadvanced state of economic integration, not only from an institutional perspective, but also in terms of actual market integration. The Europeaneconomic integration has been the subject of numerous empirical analyses and has providedbroad fields for the experimentation of economic integration theory.

The main purpose of this course is to help students to gain broad knowledge on the European integration and its current entity, European Union. This course does not necessarily aim to cultivate an academic scholar but provide relevant expertise and analytical tools for a future specialist in European affairs. With that purpose, the course has two objectives: 1) to provide students with relevant expertise on European integration especially on institutional and economic aspect. 2) to improve ability of student to frame and analyze economic policy in coherent fashion.

Prerequisites:

This course does not require a high level of economic expertise, such as advanced microeconomics and econometrics. However, basic knowledge of macroeconomics, international trade and – to a lesser extent – microeconomics will be a lot helpful. Due to multidisciplinary features of regional studies, wide range of knowledge in international affairs will be appreciated. All materials for reading will be provided or indicated in English.

Requirements:

Students are required to complete the readings, attend class sessions, participate actively.Your grade will be based on following several elements.

Evaluation:

  1. Presentation:50%

During entire sessions, each student (or group, it depend on the number of student) is expected to conduct two presentations(20min+10min discussion). It is highly recommended to distribute a presentation material or use PPT (or other presentation tools) for presentation.

  1. Discussion :10%
  1. Final exam:40%

Final exam will have tenquestions on issues that student learn during classes. Within 2 hours, you can organize your answers to four out of ten questions with logical explanation.

Textbooks:

There are no particular manuals for this course. However, the following books will be repeatedly referred as references:

Economic Policy and macroeconomics of the EU

-Baldwin, Richard and Charles Wyplosz. 2009. The Economics of European Integration. 3rd edition. McGraw-Hill. (Most used book for Economic integration in Europe)

-Robert J. Barro, Vittorio Grilli. 2007. European Macroeconomics. Palgrave Macmillan.

General introduction of European political system

-Simon, Hix. 2011. The Political System of the European Union. 3rd Edition. Palgrave Macmillan. (This book is quasi-manual of European Political System. Highly recommended to read)

Development of the EMU

-Apel. Emmanuel. 1998. European Monetary Integration 1958-2002. Routledge. (This book is plainly written and easy to understand. Highly recommended to read the entire book.)

-Chown, John. 2003 A History of Monetary Unions. Routeledge.

Course schedule

(References will be added before 25th February 2016)

Part I: Development of the European Integration

Week 1: / Course Introduction
Comparative aspects of Economic integration
Historical background and origin of European Integration

Reference

Week 2: / Development of European Union
Institutional Framework of the EU
Policy Areas of the EU

Reference

Week 3: / Development of European Monetary Union
International Monetary System
Early Development of the EMU
Introduction of Euro

Reference

Part II: Policy Areas of the EU (from economic aspect)

Week 4: / Internal Market I
Theory of Economic Integration
European Single Market
Legal foundation of the Single Market

Reference

Week 5: / Internal Market II
How to manage the Single Market
Regulatory Convergence
European Lobbying

Reference

Week 6: / Trade Policy I
Global trade architecture
EU's Common Commercial Policy: institutional set-up
EU's preferential trade policy

Reference

Week 7: / Trade Policy II
Changes of EU's trade policy: pivot to Asia
EU and its trading partner (Korea, China, Japan and US)
EU's new trade agenda

Reference

Week 8: / Mid Term Exam week
Week 9: / Development Policy
EU's relation with developing countries
EU's ODA

Reference

Week 10: / Monetary Policy I
Role of Central Bank and its policy tools
Monetary system of the EU: euro and non euro-countries
Optimal Currency Area
Monetary and Fiscal governance in the EU

Reference

Week 11: / Monetary Policy II
Euro crisis: origin, development and consequences
Role of European Central Bank during the crisis
Debate on Euro

Reference

Part III: Current Issues in the EU

Week 12: / Structural Changes since the crisis
EU's reform in economic governance since the crisis
Structural change of European economies since the crisis

Reference

Week 13: / Current issues: Grexit vs. Brexit, Refugee crisis
Understanding the logics of Grexit
Debates on the Brexit
Refugee crisis

Reference

Week 14: / Welfare States in Europe
Classification of the European welfare regimes
Role of the welfare state and its challenges
Week 15: / Labour Issues
Overall labour market situations in Europe
Youth employment
Flexecurity

Reference

Week 16: / Final Exam

1

[1] Head of Europe Team, KIEP, Tel: 044-414-1123, Email: