Learning Objectives:
Students will gain a comprehensive understanding of the institutional and policy framework of the European Union (EU), with a focus on economic, fiscal, and monetary policy. They will be able to analyze key instruments and coordination mechanisms of EU economic governance, assess current policy debates, and critically evaluate the interaction between European and national policy objectives.

Contents:

• Institutional framework of the European Union and Economic and Monetary Union (EMU)

• Coordination of national fiscal policies within the EU fiscal framework

• The EU budget: structure, revenues, and expenditures

• The European Central Bank (ECB) and monetary policy in the euro area

• Price stability, inflation dynamics, and monetary transmission mechanisms

• European competitiveness and structural reforms

• Current challenges: fiscal rules reform, climate and digital transition, enlargement and governance reform

Methods:

• Models and analytical methods: Theoretical and applied macroeconomic and policy models

• Quantitative-empirical methods: Comparative analysis of EU economic indicators, interpretation of fiscal and monetary data

• Qualitative-interpretative methods: Case studies on EU policy coordination and institutional decision-making

Teaching and Learning Methods:
Lecture with seminar-style elements and discussions of current policy developments, supported by empirical examples and interactive exercises.

Literature:

• Baldwin, R., Wyplosz, C. (2023): The Economics of European Integration, 8th edition, McGraw-Hill.

• Selected articles, reports, and policy papers (European Commission, ECB, OECD, etc.) will be provided during the course.