Promises and limits of EU economic integration. How it works and what is accomplished.

Course Description

The European Communities were conceived as a union of democratic nations shaping the economic and social model of the world. In the last 60 years the EU has grown big; at the same time economic and income disparities nurtured social grievances and political disappointments. With Brexit, the enlargement process went into reverse, and in a changing global economy Europeans wonder whether the EU can successfully compete with the US and China.

The euro, Europe’s single currency, was thought to speed up economic convergence. Yet lingering disparities (e.g. diverging inflation rates) drove a wedge between the “frugal” North and the “deficit-spending-prone” South. Is the Eurozone going to crash due to inability to handle the design flaws of the common currency?

With war aggressor Russia as major energy supplier, EU energy independence is high on the agenda. Would a shift towards increased use of renewables secure Europe’s energy future? And is the newly introduced “EU Green Deal” the right response to the global warming and climate change?

Lastly, a look at Europe’s social model shall tell us how free markets and social responsibility are combined for more inclusion and less income disparities within the EU member states.

Learning Objectives

This course aims at covering both the institutional framework of the European Union and the economics of European integration. They are presented in an international (global) context and shall introduce the students to an array of policy issues relevant to integration as well as to the basic theory in order to ensure the course is self-contained.