European imbalances: Financial and social crises

With Eastern enlargements and the creation of an imperfect monetary union, the EU became not only more diverse but also more imbalanced and polarized than before. Exploring the nature of East-West and NorthSouth imbalances in the EU and understanding the relevant public policy agendas are key objectives.

The course provides an overview of the recent financial and economic crisis in Europe and its impact on society. Our aim is to understand the crisis dynamics and the manifold social consequences, in qualitative and quantitative terms, based on concepts like core and periphery, convergence and divergence, as well as economic, social and territorial cohesion.

It will be crucial to learn how the Single Market and the Monetary Union were created within the EU, and how they function and what their costs and benefits are for participating countries. Exploring the historic circumstances of creation and the design flaws of the EMU will be crucial to demonstrate why the EU has not been able to emerge from the crisis faster.

This course is for 2nd year MIA and MPP students only.