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Identical coursesEconomics of Monetary Integration (B-KUL-HBA50C)
Maes Marjan (coordinator) | Maes Marjan Aims
3.e.On the macro-economic level, interprets and analyses the behaviour of the different economic agents on the various domestic and foreign markets.
3.h. Defines, explains and uses, both graphically and model-based, macro- and micro-economic concepts.
3.i. Describes the perspectives of economic science, uses them in a (business) economics context and reflects critically on them.
8.a. Identifies (business) economic challenges with practical relevance and relates them to insights developed in the field.
8.b. Takes into consideration alternative explanations and methods when analysing and solving a (business) economic problem with practical relevance.
Previous knowledge
The course assumes that students of the BachelorBusiness Administration passed the course Macro-Economics and Economic Policy HBA16C.
The course assumes that students of the BachelorBusiness Engineering passed the course Macroeconomics HBE05E
Is included in these courses of study
- Bachelor of Business Administration (Brussels) 180 ects.
- Bachelor of Business Engineering (Brussels et al) 180 ects.
- Courses for Exchange Students Faculty of Economics and Business (Brussels)
- Bachelor of Business Administration: Double Degree Galway (outgoing) (Brussels et al) 240 ects.
- Bachelor of Business Administration: Double Degree Galway (incoming) (Brussels et al) 240 ects.
Activities
3 ects. Economics of Monetary Integration (B-KUL-HBA50c)
Content
The OLA aims at giving insight into the costs and benefits for a country of joining (or staying in) a monetary union. This should lead to a better understanding of the conditions necessary and sufficient for a monetary union to function properly. We rely on the Theory of optimum currency areas (Mundell).
The OLA then analyses the fragility of incomplete monetary unions like the Eurozone (cfr. souvereign debt crisis in 2011) and aims at giving insight into the possible ways to deal with some of the challenges.
The OLA also examines the monetary policy by the ECB (including the new regulatory and supervisory structure leading towards a banking union) and the need for fiscal discipline (including the revised Stability Growth Pact) in the eurozone.
The course content corresponds to the following chapters:
1. The costs of a common currency
2. The theory of optimum currency areas: a critique
3. The benefits of a common currency
4. Costs and benefits compared
6. The transition to a monetary union (Maastricht treaty)
8. Political economy of deconstructing the Eurozone (2 case studies: Greece and Italy)
9. The European central bank
10. Monetary policy in the Eurozone
11. Fiscal policies in monetary unions
Course material
https://webapps.odisee.be/Ancor/SSM/Pages/BekijkSSM.aspx?OID=26510
compulsory coursebook: Degrauwe, P. (2020), Economics of the Monetary Union, Oxford University Press: Oxford.
A few copies of the coursebook are freely available in the library for students.
Lecture notes (in ppt) for each lecture will be available on Toledo under the "Course documents".
Interesting articles on relevant topics from quality newspapers or scientific journals may be discussed during the lecture. They will also be available under the "Course documents" on Toledo.
Language of instruction: more information
English language program
Format: more information
Traditional lectures. Active participation from students during the lectures is very welcome.
Is also included in other courses
Evaluation
Evaluation: Economics of Monetary Integration (B-KUL-H75301)
Information about retaking exams
The features of the evaluation and determination of grades are identical to those of the first examination opportunity, as described in the tab 'Explanation'.