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KINT 7570 - The Euro crisis : Political and Economic Perspectives

Type d'enseignement : Seminar

Semester : Autumn 2017-2018

Number of hours : 24

Language of tuition : English

Voir les plans de cours et bibliographies

Pre-requisite

The students must have completed a course in International economics. Basic concepts in open macro such as exchange rate, forex market, interest rate parity, PPP, trilemma, international monetary system are needed and will not be reviewed in class. The mid-term exam will include questions on these concepts in the European context

Course Description

Since 2010, European countries have faced sequential crisis episodes which have generated serious social deterioration, fiscal imbalances and fragmented financial markets. How has Greece which weighs less than 5% of the Eurozone GDP put all the system at risk? Should euro be considered as an experiment that failed? Or can the entire European integration project emerge from the crisis strengthened? The euro crisis is arguably an interesting intersection of economics, politics, and current affairs. This course combines international macroeconomic theory, economic history and political theory to explain the crisis and draw lessons on monetary regimes beyond the specific event under study. Objective of the course: The euro crisis is arguably an interesting intersection of economics, politics, and current affairs. This course combines international macroeconomic theory, economic history and political theory to explain the crisis and draw lessons on monetary regimes beyond the specific event under study.

Teachers

DELATTE, Anne-Laure (Directrice adjointe)

Course validation

- Class participation (30%): Students will be assigned some background reading prior to class and will be randomly asked to summarize it for the class using some prepared notes. Beside the short presentation at the beginning of the class, they are requested to actively participate during the class ; - Midterm exam (30%): 90 minutes ; - Final exam (40%): 180 minutes.

Workload

Students will be assigned readings before class. The reading load is expected to be 3 hours before each session.

Required reading

  • C. Wyplosz, "EMU: Why and How It Might Happen", The Journal of Economic Perspectives, Vol. 11, No. 4 (Autumn, 1997), pp. 3-21
  • Paul de Grawe, The Economics of Monetary Union, , 9th ed. Oxford, chapters 1-4
  • R. Sylla, The Transition to a Monetary Union in the United States, 1787–1795
  • P. Krugman, "Introduction", in Currency Crises, University of Chicago Press, (2000)
  • Reinhard and Rogoff, This Time Is Different, Eight Centuries of Financial Folly, chapter 14

Plans de cours et bibliographies