International Economic Relations: the Case of Europe

Volledige vakbeschrijving

In this course we investigate international economic relations, with a particular focus on the European Union (EU) and the euro area (EA). We discuss channels through which nations are economically connected. This involves analyzing the dynamics of international markets for products and services, labor and finance and the importance of the underlying institutional designs. We study the underlying economic theory and the way such insights have been translated into the institutional arrangements of the European Union. We discuss how effects of macroeconomic policies are transmitted from country to country through these channels and how fiscal and monetary policies can/should be coordinated to contribute to fostering economic integration. We pay attention both to the intra-European dynamics and the relation of Europe with the rest of the world.