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Prospectus

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Economic and Monetary Union

Course
2019-2020

Admission requirements

Admission to the Master International Relations, track European Union Studies.
The course is designed for all EUS-students, regardless of background, though a basic knowledge of macroeconomics and the institutional set-up of the European Union is advised in order to complete the course within the timeframe allocated.

Description

The banking crisis of 2008 and its consequences has exposed some important design flaws in the setup of EMU:

  • Its intergovernmental governance structure which resulted in insufficient compliance with rules and common objectives.

  • Its too narrow focus on budgetary surveillance which resulted in insufficient attention to macro-economic imbalances.

  • Its lack of centralised banking supervision which resulted in vulnerable banking system and national reflexes as the banking crisis unfolded leading to a fragmentation of the financial system.

  • Its lack of a crisis management system: there were no firewalls and no fire brigade once the banking crisis unfolded in a full blown eurocrisis.

This had led to an important redesign of the rules, institutions and governance of EMU. This course deals with the origins, the consequences and the repair of these design flaws. Attention is given to historical, legal and economic aspects. Below you will find more details.

Course objectives

Students will gain an understanding of the redesign of EMU, which is an unprecedented acceleration in European integration. Students will learn how to interpret the numerous policies measures and proposals and the debates surrounding them and develop their skills in analyzing both primary and secondary material.

Timetable

The timetable is available on the website.

Mode of instruction

Seminar.

Course Load

Total course load for the course: 5 EC is 140 hours.

  • Hours spent on attending seminars (attendance is compulsory): 4 hours per week x 6 weeks = 24 hours

  • Time for studying the compulsory literature and preparation for the lectures/ presentation: 6 hours per week x 6 = 36 hours

  • Preparation for the paper: 80 hours

Assessment method

  • Paper 100%

  • (Class participation) The final paper will only be marked if the student has attended the seminars.

Weighing

The final mark for the course is established by determining the weighted average.

Resit

Retake paper: resubmit three weeks after the grade has been made known. In order to be eligible for the retake paper, students have to have failed the course.

Exam review

How and when an exam review will take place will be disclosed together with the publication of the exam results at the latest. If a student requests a review within 30 days after publication of the exam results, an exam review will have to be organized.

Blackboard

Blackboard will be used for this course

Class schedule and reading list

A reading list will be distributed before the start of the course.

Registration

Via uSis.

Contact

Dhr. B. van Riel