EGOn4004 Europe in Global Economy

Faculty of Social Studies
Spring 2024
Extent and Intensity
1/1/0. 7 credit(s). Type of Completion: zk (examination).
Teacher(s)
doc. Mgr. et Mgr. Oldřich Krpec, Ph.D. (lecturer)
Mgr. Vladan Hodulák, Ph.D. (lecturer)
Ing. Mgr. Petr Svatoň (seminar tutor)
Guaranteed by
doc. Mgr. et Mgr. Oldřich Krpec, Ph.D.
Department of International Relations and European Studies – Faculty of Social Studies
Contact Person: Olga Cídlová, DiS.
Supplier department: Department of International Relations and European Studies – Faculty of Social Studies
Timetable
Wed 12:00–13:40 U23
Prerequisites (in Czech)
! EUP413 Europe in Global Economy && ! EGO404 Europe in Global Economy && ! VISn4003 Europe in Global Economy && ! IREn4008 Europe in Global Economy && !NOWANY( EUP413 Europe in Global Economy , EGO404 Europe in Global Economy , VISn4003 Europe in Global Economy , IREn4008 Europe in Global Economy )
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.
fields of study / plans the course is directly associated with
Course objectives
This course discusses the position and role of Europe in the international political economy from the pre-industrial era to the present era. The focus of the course is on the analysis of Europe as an actor in the international economy with regard to relevant historical, political, and social conditions and circumstances. The first part of the course deals with the ascendancy of Europe as an economic leader, the Europeanization of the international economy and a discussion of specific conditions for the takeoff of the West. The following part of the course consists of a discussion of the contemporary position of Europe in the world economy – in international trade and monetary issues, and the competitiveness of Europe and its position in key international organizations and regimes.
Learning outcomes
At the end of the course, students should acquire a comprehensive understanding of international economic relations and the position of the European economy in the world economy. Students should possess basic skills and competences to analyze the contemporary European economy in international political and economic relations. Students will be understand the challenges facing monetary integrations from both political and economic perspectives and will be able to devise suitable solutions.
Syllabus
  • Week 1: Introduction to the course Week 2: Europe in the International Economy 1500-1800 Reading: - Aldcroft, D.; Sutcliffe, A.: Europe in the International Economy 1500-2000. EE Publishing, 1999. Pages 16-49 (33 pp.); - Maddison, A.: The World Economy, Vol. 1 Millennial Perspective. OECD Publishing 2001. Pages 29-51 (22 pp). Week 3: Joint seminar with the Utrecht University School of Economics – Economic effects of migration into the EU Reading: - Guzi, M; Kahanec, M.; Ulceluse, M.: Europe’s Migration Experience and its effect on economic inequality. CELSI 2021. Pages 1-35 (35 pp). - Jaumotte, F.; Koloskova, K.; Saxena, S.: Impact of Migration on Income Levels in Advanced Economies. IMF 2016. Pages 1-21 (21 pp). - Koczan, Z.; Peri, G.; Pinat, M.; Rozhkov, D.: The Impact of International Migration on Inclusive Growth: A Review. IMF 2021. Pages 1-33 (33 pp). Week 4: Europeanization of the International Economy, the Industrial Revolution. Readings: - Aldcroft, D.; Sutcliffe, A.: Europe in the International Economy 1500-2000. EE Publishing, 1999. Pages 50-101 (51 pp.); - Maddison, A. (recommended): The World Economy, Vol. 1 Millennial Perspective. OECD Publishing 2001. Pages 51-124 (73 pp). Week 5: The Inter-War Period. Readings: - Aldcroft, D.; Sutcliffe, A.: Europe in the International Economy 1500-2000. EE Publishing, 1999. Pages 129-176 (47 pp.); - Maddison, A. (recommended): The World Economy, Vol. 1 Millennial Perspective. OECD Publishing 2001. Pages 125-169 (44 pp). Week 6: The European Economy: Reconstruction and the Golden Age. Readings: - Eichengreen, B. The European Economy since 1945. Princeton. 2007. Pages 52-85, 86-130, 198-225 (50 p.). - Farkas, B, Models of Capitalism. Palgrave. 2016. Pages 29-64 (35 pp). Week 7: Europe and Economic Integration. Readings: - Eichengreen, B. The European Economy since 1945. Princeton. 2007. Pages 163-197, 225-251, 335-378 (103 pp.). Week 8: Europe in Contemporary International Trade, Trade Statistics. Readings (recommended): - El-Agraa, A.: The European Union – Economics and Politics. Cambridge. 2011. Pages 383-400, 401-422 (38 pp.). Week 9: European Economy and the issue of Competitiveness Readings: - El-Agraa, A.: The European Union – Economics and Politics. Cambridge. 2011. Pages 214-228 (14 pp.). Week 10: Political Economy of European monetary integration I. Theories of money, monetary and fiscal policy, balance of payments. Reading: - Goodhart, Ch. 1998. „The Two Concepts of Money.“ European Journal of Political Economy. Vol. 14, no. 3. Pages 407-432 (26 pp). - Krugman, P. – Obstfeld, M. – Melitz, M. 2018. International Economics. Harlow. Pages 349-377 (29 pp). - Mitchell, W. – Wray, R. – Watts, M. 2019. Macroeconomics. MacMillan. London. Pages 134-161 (28 pp). Week 11: Political Economy of European monetary integration II. Balance of payments adjustment and the history of the European monetary cooperation, establishment of the euro area. Reading: - Cohen, Benjamin. 2015. Currency Power. Princeton: Princeton University Press. Pages 48-76, (29 pp). - Krugman, P. – Obstfeld, M. – Melitz, M..2018. International Economics. Harlow. Pages 681-704 (24 pp). - Verdun, Amy. 2019. “Economic and Monetary Union.” In: Cini, M. – Borragán, N. (eds.). European Union Politics. Oxford: Oxford University Press, 343-357 (15 pp). Week 12: Eurozone: the first decade and the crisis Institutional structure of the eurozone, liquidity and solvency crisis, European regulation of the common financial system, reforms. Reading: - Hodson, D – Puetter, U. 2019 “The Euro Crisis and European Integration”. In: Cini, M - Borragán, N. (eds.). European Union Politics. Oxford University Press. Oxford. Pages 389-405 (17 pp.). - Krugman, P.; Obstfeld, M.; Melitz, M.: International Economics. Harlow. 2018. Pages 704-719 (16 pp.). - Baldwin, R.; Giavazzi, F. 2015. The Eurozone crisis: A consensus view of the causes and a few possible solutions. London. CEPR Press. Pages 18-60 (45 pp). Week 13. Euro in the international monetary system, recent developments in the Eurozone Position of the EU in the international monetary system, problems in the Eurozone design, recent development. Reading: - Fields, D.; Vernengo, M. 2012. “Hegemonic currencies during the crisis: The dollar versus the euro in a Cartalist perspective.” Review of International Political Economy. Vol. 20, no. 4. Pages 740-759 (20 pp.). - Tooze, A. 2020. “The Death of the Central Bank Myth.” Foreign Policy, May 13, 2020, pages 1-22 (22 pp).
Literature
    required literature
  • El-Agraa, A.: The European Union – Economics and Politics. Cambridge: Cambridge University Press. 2011
  • Krugman, P.; Obstfeld, M.; Melitz, M.: International Economics. Harlow: Pearson. 2018
  • CINI, Michelle and Nieves PÉREZ-SOLÓRZANO BORRAGÁN. European union politics. Sixth edition. Oxford: Oxford University Press, 2019, xxv, 532. ISBN 9780198806530. info
  • MITCHELL, William, L. Randall WRAY and Martin WATTS. Macroeconomics. First edition. London: Red globe press, 2019, xxvii, 573. ISBN 9781137610669. info
  • COHEN, Benjamin J. Currency power: understanding monetary rivalry. Princeton, New Jersey: Princeton University Press, 2015. ISBN 0-691-16785-0. info
  • EICHENGREEN, Barry J. The European economy since 1945 : coordinated capitalism and beyond. Princeton: Princeton University Press, 2007, xx, 495. ISBN 9780691138480. info
  • MADDISON, Angus. The World economy : a millennial perspective. Paris: OECD, 2001, 383 s. ISBN 9264186085. info
    not specified
  • Findlay, R., & O'rourke, K. H. (2009). Power and plenty: trade, war, and the world economy in the second millennium. In Power and Plenty. Princeton University Press.
  • Europe in the international economy 1500 to 2000. Edited by Derek Howard Aldcroft - Anthony Sutcliffe. Cheltenham: Edward Elgar, 1999, xi, 289. ISBN 184376332X. info
Teaching methods
1. Students are encouraged to actively participate in the lectures by posing questions of clarification or bringing up problems for discussion. 2. At the end of the semester, students should submit an 8-page-long final paper on a topic selected from the list below. 3. There will be a final written exam, consisting of four questions based on the required readings and the discussions in the class.
Assessment methods
1) The final exam will be composed of 4 open questions (each max. 5 points) about issues from compulsory reading and/or lectures. You can obtain up to 20 points on the exam. The test will take place during the exam period (May and June). The exact dates of the exam will be listed in the Information System by the end of April. 2) Students have to submit a seminar paper. The seminar paper is a necessary requirement for the final exam. Students can receive up to 10 points on the paper. Students will choose from following topics: - Uniqueness of European/Western socio-economic model as a cause for domination; o reading: Ferguson (2011) The West and the Rest; - Core and periphery in European Economy (?) – issue of real economic convergence; o reading: Farkas (2016) Models of Capitalism in the European Union; - Euro crisis – tensions build into core of European integration o reading: Matthijs – Blyth (eds.) (2015) The Future of the Euro; o reading: Stiglitz (2016) The Euro. The final paper will specify the particular issue (formulated in terms of a research question); then it will specify the text or texts on which will the presented critical discussion is based. The goal is to come to generalizing remarks about the problem, based on the knowledge gained from the relevant literature. The form of a critical review of the selected literature is also acceptable, however the concluding remarks should provide an original critical reflection by the student.
Language of instruction
English
Further Comments
Study Materials
The course is taught annually.
Listed among pre-requisites of other courses
The course is also listed under the following terms Spring 2022, Spring 2023, Spring 2025.
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