The economic and social governance of the european union in times of crisis
A.A. 2020/2021
Obiettivi formativi
The course examines the EU integration process and the evolution of economic governance in Europe after the outbreak of the financial and economic crisis, up to the recent Covid-19 pandemic. The course provides a broad understanding of the political, economic and social dimensions of European economic governance and equip students with all the fundamentals to critically assess the ongoing transforming process that is affecting European economic integration. A strong policy orientation will be combined with a political economy perspective in order to show students that the economic governance in the Union is not a politically neutral process. Special emphasis will be given to the current pandemic crisis and how the EU responded to it. We will explore the impact of the crisis on the European economy and society, look at the policy responses at national level and examine the response at the EU level.
The course is particularly suited for students with an interest in the European Union and in having a working experience in the EU institutions or in Brussels-based think tanks.
The course is particularly suited for students with an interest in the European Union and in having a working experience in the EU institutions or in Brussels-based think tanks.
Risultati apprendimento attesi
By the end of this course, having completed the essential reading list and attended classes, students should be able to:
· Knowledge and understanding: Students acquire a basic knowledge and understanding of the integration process and of the economic and political rationale for the establishment of the Economic and Monetary Union. The course will focus mainly on the EU's key policies, instruments and underlying economic models, which emerged in the aftermath of the financial crisis. A particular attention will also be devoted to the interplay between economic integration and the national welfare state.
· Applying knowledge and understanding: Students are expected to acquire a critical understanding of the evolution of the EU economic governance, and especially the interplay between economic and social policies. Through the critical analysis of EU official documents and the review of the most relevant policy papers, students are expected to learn how to apply their knowledge to recognize, contextualize, explain, and interpret political, societal and economic phenomena in European integration. They can critically assess the latest policy developments.
· Making judgements: By reading official EU documents and relevant academic literature, students will get familiar to EU sources (notably the EurLex database) and will be able to understand the different phases of the EU decision making, identify the relevant actors involved and understand their role. This will help them in making judgements that are consistent with the empirical evidence.
· Communication skills: Students will learn to present and discuss EU official documents and relevant policy papers included in the syllabus. Students will also engage in small group assignments, thus developing skills of planning, organization, prioritization and time management.
· Learning skills: Students are expected to learn to evaluate and asses autonomously EU policies in the field of economic and social governance. Students should also improve their analytical skills and capabilities, so that they could be apply them in a range of situations and environments.
· Knowledge and understanding: Students acquire a basic knowledge and understanding of the integration process and of the economic and political rationale for the establishment of the Economic and Monetary Union. The course will focus mainly on the EU's key policies, instruments and underlying economic models, which emerged in the aftermath of the financial crisis. A particular attention will also be devoted to the interplay between economic integration and the national welfare state.
· Applying knowledge and understanding: Students are expected to acquire a critical understanding of the evolution of the EU economic governance, and especially the interplay between economic and social policies. Through the critical analysis of EU official documents and the review of the most relevant policy papers, students are expected to learn how to apply their knowledge to recognize, contextualize, explain, and interpret political, societal and economic phenomena in European integration. They can critically assess the latest policy developments.
· Making judgements: By reading official EU documents and relevant academic literature, students will get familiar to EU sources (notably the EurLex database) and will be able to understand the different phases of the EU decision making, identify the relevant actors involved and understand their role. This will help them in making judgements that are consistent with the empirical evidence.
· Communication skills: Students will learn to present and discuss EU official documents and relevant policy papers included in the syllabus. Students will also engage in small group assignments, thus developing skills of planning, organization, prioritization and time management.
· Learning skills: Students are expected to learn to evaluate and asses autonomously EU policies in the field of economic and social governance. Students should also improve their analytical skills and capabilities, so that they could be apply them in a range of situations and environments.
Periodo: Terzo trimestre
Modalità di valutazione: Esame
Giudizio di valutazione: voto verbalizzato in trentesimi
Corso singolo
Questo insegnamento non può essere seguito come corso singolo. Puoi trovare gli insegnamenti disponibili consultando il catalogo corsi singoli.
Programma e organizzazione didattica
Edizione unica
Periodo
Terzo trimestre
Programma
1. The economic impact of the Covid-19 and national fiscal response (class 1)
Key figures socio-economic impact of Covid-19, national fiscal response to Covid-19, first introduction of Maastricht criteria
2. Optimum Currency Area: theory (class 2)
Costs of creation of a monetary union, the benefits of a monetary union, critique of OCA theory, costs and benefits compared.
Readings:
De Grauwe. (2018) The economics of Monetary Union, chapter 1 and 4
3. From Bretton-Woods to Brussels-Frankfurt consensus: the origin of EMU (class 3)
Origins of monetary cooperation in Europe; Meade's Trilemma, the fragility of fixed exchange rate regimes,
Readings:
De Grauwe. (2018) The economics of Monetary Union, chapter 5
Hix, S. (2011) The Political system of the EMU, chapter 10
4. The transition to a monetary union (class 4)
Failure of classical keynesianism, Delors' Commission, Single European Act, Mundell's trilemma
Readings:
De Grauwe. (2018) The economics of Monetary Union, chapter 6
Nicoli, F. (2020) Crises, Path Dependency, and the Five Trilemmas of European Integration: Seventy Years of 'Failing Forward' From the Common Market to the European Fiscal Union
5. The creation of the EMU and the first reform of the SGP (2005) (class 5)
Maastricht Treaty, convergence requirements, SGP, incomplete monetary unions, fragility of the EMU
Readings:
De Grauwe. (2018) The economics of Monetary Union, chapter 6
6. The Eurozone Crises: causes and management (class 6)
The interpretations of the Eurozone crisis, the Economic Adjustment Programmes
Readings:
Baldwin Giavazzi (2015) The Eurozone Crisis A Consensus View of the Causes and a Few Possible Solutions (Introduction)
Verdun (2015) A historical institutionalist explanation of the EU s responses to the euro area financial crisis
Gocaj (2013) Time Will Tell The EFSF the ESM and the Euro Crisis
7. Post-crisis EMU Governance and the impact on national welfare states (class 7)
Euro Plus Pact, Six Pack, Two Pack, Fiscal Compact, European Semester, the social dimension of the EMU
Readings:
Vanhercke (2020) Vanchercke (2020) From OMC to the Semester, ETUI-OSE
Dawson, M. (2018) New governance and the displacement of Social Europe: the case of the European Semester, European Constitutional Law Review, 14(1), pp. 191-209.
Buti, M., Jolles, M. and Salto, M. (2019) The Euro - A Tale of 20 Years: What Are the Priorities Going Forward?, Intereconomics, 54(2)
8. Prospects of further EMU reform and fiscal capacity before the Covid-19 (class 8)
From the first to the second Presidents' Report, Fiscal Capacity, Automatic transfers and the European Unemployment Benefit Scheme, flexibility and the interpretations of the fiscal rules, the European Pillar of Social Rights;
Readings:
Juncker J.-C., Tusk D., Dijsselbloem J., Dragih M. and Schultz M. (2015), Completing Europe's Economic and Monetary Union, Five Presidents Report, European Commission.
Hemericjk, A. and Corti, F. (2021) Social Europe after conservative reflex, in Hemerjick, A. and Matsaganis, E. (2021)
9. The EU response to the Covid-19: towards an EMU as holding environment for flourishing welfare states (class 9)
Activation of the general escape clause in the Stability and Growth Pact; SURE, Next Generation EU
Readings:
Alcidi, A., Gros, D. and Corti, F. (2020) Who will really benefit from the Next Generation EU? CEPS Policy Brief
Corti, F. & Alcidi, C. (2021) Toward a more solidaristic EU? A critical appraisal of the EU's recovery and resilience instruments, in B. Vanhercke, S. Spasova (2021) Social policy in the EU: state play 2021, Brussels: OSE-ETUI
10. Completing the European Monetary Union [Guest lecture by Prof. Daniel Gros, CEPS] (class 10)
Readings:
Gros, D. (2017) One Market, One Money - A Mistaken Argument (post factum)?CEPS Policy Insight
Gros, D. (2020) Europe and the Covid-19 crisis: the challenges ahead, CEPS Policy Insight
Key figures socio-economic impact of Covid-19, national fiscal response to Covid-19, first introduction of Maastricht criteria
2. Optimum Currency Area: theory (class 2)
Costs of creation of a monetary union, the benefits of a monetary union, critique of OCA theory, costs and benefits compared.
Readings:
De Grauwe. (2018) The economics of Monetary Union, chapter 1 and 4
3. From Bretton-Woods to Brussels-Frankfurt consensus: the origin of EMU (class 3)
Origins of monetary cooperation in Europe; Meade's Trilemma, the fragility of fixed exchange rate regimes,
Readings:
De Grauwe. (2018) The economics of Monetary Union, chapter 5
Hix, S. (2011) The Political system of the EMU, chapter 10
4. The transition to a monetary union (class 4)
Failure of classical keynesianism, Delors' Commission, Single European Act, Mundell's trilemma
Readings:
De Grauwe. (2018) The economics of Monetary Union, chapter 6
Nicoli, F. (2020) Crises, Path Dependency, and the Five Trilemmas of European Integration: Seventy Years of 'Failing Forward' From the Common Market to the European Fiscal Union
5. The creation of the EMU and the first reform of the SGP (2005) (class 5)
Maastricht Treaty, convergence requirements, SGP, incomplete monetary unions, fragility of the EMU
Readings:
De Grauwe. (2018) The economics of Monetary Union, chapter 6
6. The Eurozone Crises: causes and management (class 6)
The interpretations of the Eurozone crisis, the Economic Adjustment Programmes
Readings:
Baldwin Giavazzi (2015) The Eurozone Crisis A Consensus View of the Causes and a Few Possible Solutions (Introduction)
Verdun (2015) A historical institutionalist explanation of the EU s responses to the euro area financial crisis
Gocaj (2013) Time Will Tell The EFSF the ESM and the Euro Crisis
7. Post-crisis EMU Governance and the impact on national welfare states (class 7)
Euro Plus Pact, Six Pack, Two Pack, Fiscal Compact, European Semester, the social dimension of the EMU
Readings:
Vanhercke (2020) Vanchercke (2020) From OMC to the Semester, ETUI-OSE
Dawson, M. (2018) New governance and the displacement of Social Europe: the case of the European Semester, European Constitutional Law Review, 14(1), pp. 191-209.
Buti, M., Jolles, M. and Salto, M. (2019) The Euro - A Tale of 20 Years: What Are the Priorities Going Forward?, Intereconomics, 54(2)
8. Prospects of further EMU reform and fiscal capacity before the Covid-19 (class 8)
From the first to the second Presidents' Report, Fiscal Capacity, Automatic transfers and the European Unemployment Benefit Scheme, flexibility and the interpretations of the fiscal rules, the European Pillar of Social Rights;
Readings:
Juncker J.-C., Tusk D., Dijsselbloem J., Dragih M. and Schultz M. (2015), Completing Europe's Economic and Monetary Union, Five Presidents Report, European Commission.
Hemericjk, A. and Corti, F. (2021) Social Europe after conservative reflex, in Hemerjick, A. and Matsaganis, E. (2021)
9. The EU response to the Covid-19: towards an EMU as holding environment for flourishing welfare states (class 9)
Activation of the general escape clause in the Stability and Growth Pact; SURE, Next Generation EU
Readings:
Alcidi, A., Gros, D. and Corti, F. (2020) Who will really benefit from the Next Generation EU? CEPS Policy Brief
Corti, F. & Alcidi, C. (2021) Toward a more solidaristic EU? A critical appraisal of the EU's recovery and resilience instruments, in B. Vanhercke, S. Spasova (2021) Social policy in the EU: state play 2021, Brussels: OSE-ETUI
10. Completing the European Monetary Union [Guest lecture by Prof. Daniel Gros, CEPS] (class 10)
Readings:
Gros, D. (2017) One Market, One Money - A Mistaken Argument (post factum)?CEPS Policy Insight
Gros, D. (2020) Europe and the Covid-19 crisis: the challenges ahead, CEPS Policy Insight
Prerequisiti
It is important to have a basic understanding and familiarity with the European Union institutions. However, participation is allowed also for students that show a specific interests in learning about the EU. In this case, the chapter on 'Institutions' of the Oxford handbook of the European Union is a good way to fill the gaps. This can be provided upon request.
Metodi didattici
Classes will be organized online on Microsoft Teams. The course for attending students is a varying mix of frontal lectures and group works. Each class will be divided in two parts. In the first part, students will read and comments articles distributed to them in due advance. In the second part, slides-based teaching will be provided. A guest lecture will be held by Prof. Daniel Gros (CEPS) on Tuesday 22 June.
Materiale di riferimento
Attending students are assessed according to the following criteria:
· Final essay (5-10 pages): 70%
· Participation in class (presentation of one paper): 30%
Non-attending students' knowledge and understanding is assessed through an oral exam. For the oral exam, the students must prepare the following text:
De Grauwe. (2020) The economics of Monetary Union, OXFORD: Oxford University Press
· Final essay (5-10 pages): 70%
· Participation in class (presentation of one paper): 30%
Non-attending students' knowledge and understanding is assessed through an oral exam. For the oral exam, the students must prepare the following text:
De Grauwe. (2020) The economics of Monetary Union, OXFORD: Oxford University Press
Modalità di verifica dell’apprendimento e criteri di valutazione
Attending students are assessed according to the following criteria:
· Final essay (5-10 pages): 70%
· Participation in class (presentation of one paper): 30%
Non-attending students' knowledge and understanding is assessed through a written exam, combining multiple-choice questions and open questions.
· Final essay (5-10 pages): 70%
· Participation in class (presentation of one paper): 30%
Non-attending students' knowledge and understanding is assessed through a written exam, combining multiple-choice questions and open questions.
SPS/04 - SCIENZA POLITICA - CFU: 3
Lezioni: 20 ore
Docente:
Corti Francesco