This course introduces the main economic theories and policies of European integration, and a range of policy debates about the functioning of the EU market. The course discusses the development and features of the integration process within the EU, based on the analysis of economic policies.

The course will study the nature of past and current economic integration, as well as the possibilities for the future enlargement of the EU. The implementation of basic economic principles in solving economic problems facilitates better understanding of common EU policies.

The course deals with very important questions in contemporary Europe, such as:

• Does Brexit have any economic sense?
• Does the immigration affect domestic wages and unemployment?
• Is the Euro and the monetary union a successful project and does it have a future?
• Why did the recent public debt crisis hit Europe so heavily and is the EU ready for another one?
• Do we need a fiscal union in Europe?

Major topic areas include macro- and microeconomic policies of the EU, as well as the adjustment of the candidate countries to the instruments and mechanisms of the European Union. The course offers a detailed view of the harmonization and regulation policies, performances of the EU economy, implications of the globalization process and the functioning of the European monetary union.

After completing this course, students will be able to:

• Critically evaluate the effects of various EU policies (CAP, regional policy, trade policy, competition and state aid policy) on particular sectors of member states' economies.
• Explain the economic implications of migration on wages and unemployment in EU member states.
• Understand the causes and analyze the effects of the sovereign debt crisis in the Eurozone on EU economies and discuss the problems in the design of the monetary union.
• Explain how EU integration affects regional economic activity within and between EU member states.
• Summarize the recent empirical research in the field of European integration and understand the key concepts of the functioning of the EU single market.
• Compare macroeconomic effects of EU accession on different groups of economies in multiple accession waves.
• Discuss the costs and benefits of keeping the national currency vs. the costs and benefits of adopting the euro.

In general, students should attend all classes. However, in case this class overlaps with another one, students are allowed to miss 20% of the total class hours. Cases of sickness will be dealt with on an individual basis.

• Lectures (learner-centered teaching)
• Inclusive teaching and in-class discussions
• Data analysis
• Comprehensive case study analysis

Due to the switch to online teaching and distance learning, there is a change in how the grading will work. The final grade will be composed of the following components:

• Assignment 1 - 40%
• Assignment 2 - 30%
• Assignment 3 - 30%

All assignments need to be uploaded by 1 May 2020.

Grading scale:

90 - 100%: excellent (1)

80 - 89%: good (2)

66 - 79%: satisfactory (3)

50 - 65%: sufficient (4)

0 - 49%: fail (5)

Tomislav Globan, Ph.D.: tgloban@efzg.hr

For all administrative matters please contact Anna Rösch at coursesinenglish@wu.ac.at

The students are encouraged to follow the following sites for up-to-date information and trends:

• The Economist, https://www.economist.com/
• VoxEU, https://voxeu.org/
• Euronews, http://www.euronews.com/news/europe