After a brief historical review of global monetary arrangements after WW2 and the tedious run-up to Economic and Monetary Union, including the introduction of the single currency, 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.

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 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.  

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

Assessment:

Active participation in class (20%)

Students’ presentation (35%)

Final Q & A session (25%)

Students’ special topic paper (20%)

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karl.pichelmann@wu.ac.at