The course will be formed by the following contents.
The first part of the course will be devoted to the teaching of the Political Economy basis through the analysis of:
- The major international monetary systems: from the Gold Standard to the analysis of the Bretton Woods monetary system.
- The breakdown of the Bretton Woods monetary system and the reasons why it collapsed.
- The period of uncertainty following the breakdown of the Gold Exchange Standard.
The second part of the course will analyse the process of the European Union's construction through the study of:
- The main features of an optimum currency area.
- The arrangement of the European Monetary System as an attempt to stop large exchange rate fluctuations between European countries.
- The origins and evolution of the European Monetary Union, as well as future prospects of the euro.
The third part of the course will illustrate the enlargement of the European Union to include the Countries of Central and Eastern Europe, paying particular attention to:
- The evolution of the candidate countries.
- The transition period and the macroeconomic environment.