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- Code:
- ECOK-260
- Field:
- Macroeconomics
- Target:
- Bachelor's students
- Organiser:
- University of Helsinki - Economics
- Instructor:
- Concepcion Garcia-Iglesias
- Period:
- Period 3
- Format:
- Lecture
- Method:
- Contact teaching
- Venue:
- Economicum
- Enrollment:
In case of conflicting information consider the Sisu/Course/Moodle pages the primary source of information.
Aalto and Hanken economics students can enroll in their home university’s SISU! Further instructions can be found on the How to enroll page, also for other students.
Before taking and completing the course make sure that the credits can be counted towards your degree at your home university by checking which courses are included in your curriculum or by contacting your home university’s student/learning services.
Language of learning: Finnish
Content
The object of this course is to analyze the causes and consequences of the accelerating development of the European economy mainly from the monetary and financial perspectives. Special emphasis goes on the various shocks that have created and disrupted it through time. The course will mainly focus on the macroeconomics aspects of the economics of the European Union. Moreover, there will be an emphasis on international trade, international trade agreements, the exchange rate regimes, and the international monetary systems as they are considered integral parts of today’s economic world. In order to know how the economy of the EU works, we need to know the international economic environment not only of today but also from yesterday, as we can learn much about past experiences. Starting from the nineteenth century, the course will move on until today’s sovereign debt crisis. Topics of study include the credibility theory of the EMS, the EU’s 1992 initiative, the Maastricht Convergence Criteria and the Stability and Growth Pact, the European System of Central Banks and the Theory of Optimum Currency areas among others. The importance of monetary integration and the creation of the European Central Bank will also be studied.
Learning outcomes
The aim of the course is to introduce the student to the economics of the EU. On successful completion of the course, students should be able to
(1) know how the economy of the EU works,
(2) analyze the causes and consequences of the accelerating development of the European economy,
(3) understand the importance of various shocks on the development of the European economy.