After a brief historical review of global monetary arrangements after WW2 and the tedious run-up to European Monetary Union, the course will provide an overview of macroeconomic developments in the EU since the inception of the euro, the (changing) settings of macroeconomic policy designs and governance mechanisms, and its analytical underpinnings. Topics and issues covered will include:

The general issues will be covered by the instructor in a lecture format with Q&A; homework questions will be posed at the end of each lecture. Special topics will be dealt with in presentations (30 minutes max) and discussion by students’ teams; two topics per session.

Students must not miss more than two sessions; attendance at the introductory session for students’ teams work assignment and participation in the final Q & A session is mandatory.  

Students will learn about the main macroeconomic developments in the EU over the past 25 years, and gain knowledge and a broad analytic understanding of the evolving patterns of macroeconomic policy settings, governance mechanism and institutional design at the Community level. Students will practise literature search, exercise teamwork, and improve presentation techniques and discussion proficiency.

Students’ special topic paper (25%)

Students’ presentation (25%)

Active participation in class (25%)

 Final Q & A session (25%)

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karl.pichelmann@wu.ac.at

www.karlpichelmann.com

Students are invited to search/consult the relevant pages on the website of the European Commission, the European Stability Mechanism, and the European Central Bank. Further reading suggestions will be provided in class.