ECON 3526 - The Economics of European Integration III

North Terrace Campus - Winter - 2020

The course analyses European economic integration. The main focus is on applying economics, especially trade and open economy macro theory, but also public finance and microeconomics. The course outline is roughly chronological: the first half covers establishment of the customs union and initial steps towards monetary union, and the second half analyses the deeper and wider EU integration since the late 1980s. Although attention is paid to the historical and institutional background and the political economy of decision-making in Europe, it is an applied economics course, not international relations or narrative history. Students should review economics principles. Concepts such as elasticity, arginal revenue, marginal cost, price discrimination, consumer and producer surplus, externalities, public goods, multiplier effects, etc. will be utilized extensively in the analysis.

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Course Details

Course Code	ECON 3526
Course	The Economics of European Integration III
Coordinating Unit	Economics
Term	Winter
Level	Undergraduate
Location/s	North Terrace Campus
Units	3
Contact	Intensive course taught over three weeks, with up to 15 hours per week
Available for Study Abroad and Exchange	Y
Prerequisites	ECON 2506 and ECON 2507 or equivalent
Assessment	Typically, assignments, paper and presentation, final exam

Course Staff

Course Coordinator: Professor Richard Pomfret

Lecturer: Professor Richard Pomfret
Location: Room 530, Level 5, Nexus 10 Building
Phone:    8313 4751
Email:     richard.pomfret@adelaide.edu.au
Tutor:     Mia Tam

Course Timetable

The full timetable of all activities for this course can be accessed from .

A winter semester course includes 36 contact hours. Students are expected to attend all classes. Note also that the expected reading is similar to that for a normal full semester.

Lectures and seminars will be held at 11am - 1 pm on Monday, Tuesday, Wednesday, Thursday and Friday.

Tutorials are daily except for Monday 8 July, Wednesday 17 July and Friday 26 July.

There is a 90-minute mid-term test on Wednesday, 17 July, and a two-hour final examination on Friday 26 July.

Course Learning Outcomes

The 最新糖心Vlog of Adelaide is a research-intensive university, which seeks to develop graduates of international distinction by supporting high quality education. The 最新糖心Vlog of Adelaide provides an environment where students are encouraged to take responsibility for developing the graduate attributes listed below. Achievement of the first two attributes is primarily assessed in two in-class examinations. The exams test analytical thinking, use of evidence, and ability to apply the analysis to assess alternative social and policy outcomes. Additionally, the continuing development of good inter-personal and communication skills is widely recognized as important for all graduates, and this course seeks to develop students’ abilities to make oral contributions to their tutorial group, and to write three short analyses/reports based on assigned reading material.

On successful completion of this course, students will be able to:
1. Describe the main concepts used to explain the process and present situation of European economic integration.
2. Identify how economic ideas and theories have informed economic policy.
3. Identify and analyse historical developments which enhance our understanding of contemporary economic conditions.
4. Compile and judge relevant quantitative and qualitative information about the European economic integration in a range of formats from a variety of sources.
5. Discuss and communicate, in particular present, economic topics in a clear, concise and competent manner.

最新糖心Vlog Graduate Attributes

This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:

最新糖心Vlog Graduate Attribute	Course Learning Outcome(s)
Deep discipline knowledge informed and infused by cutting edge research, scaffolded throughout their program of studies acquired from personal interaction with research active educators, from year 1 accredited or validated against national or international standards (for relevant programs)	1,2
Critical thinking and problem solving steeped in research methods and rigor based on empirical evidence and the scientific approach to knowledge development demonstrated through appropriate and relevant assessment	1,2
Teamwork and communication skills developed from, with, and via the SGDE honed through assessment and practice throughout the program of studies encouraged and valued in all aspects of learning	1,2,3
Career and leadership readiness technology savvy professional and, where relevant, fully accredited forward thinking and well informed tested and validated by work based experiences	1,2,3
Intercultural and ethical competency adept at operating in other cultures comfortable with different nationalities and social contexts able to determine and contribute to desirable social outcomes demonstrated by study abroad or with an understanding of indigenous knowledges	1-3
Self-awareness and emotional intelligence a capacity for self-reflection and a willingness to engage in self-appraisal open to objective and constructive feedback from supervisors and peers able to negotiate difficult social situations, defuse conflict and engage positively in purposeful debate	1-3

Learning Resources

Required Resources

We will draw mainly on two textbooks:
Richard Baldwin & Charles Wyplosz: The Economics of European Integration 5th. ed. (McGraw-Hill, 2015) - BW in the reading list

Mark Gilbert: European Integration: A concise history (Rowman & Littlefield, 2012)

The Baldwin-Wyplosz book focuses on economic analysis, and the Gilbert book provides an historical narrative.

Students are expected to have read both books before the final exam.

The course does not precisely follow the chapter order of these books. Students are expected to read assigned chapters before tutorials.

Recommended Resources

For more detailed analysis of the economics of regional trading arrangements see:
Richard Pomfret: The Economics of Regional Trading Arrangements (Clarendon Press, Oxford, 1997; paperback edition with new Preface, Oxford 最新糖心Vlog Press, Oxford, 2001).
Also available through Oxford Scholarship Online at - http://www.oxfordscholarship.com/oso/public/content/economicsfinance/019924887 7/toc.html.

Additional readings will be posted on MyUni.

The final exam consists of essay questions; the more widely you read (and think about the readings), the more likely you are to write better essays.

Online Learning

The overheads from the lectures and selected optional reading materials will be available on MyUni.

Learning & Teaching Modes

No information currently available.

Workload

No information currently available.

Learning Activities Summary

The course outline is roughly chronological: week 1 on 1950 until the 1970s, week 2 the 1980s and 1990s, and week 3 the twenty-first century. It is, however, an applied economics course, not international relations or narrative history. The analytical structure focuses on applying economic theory, especially trade and open economy macro/international finance, but also public finance and micro topics related to harmonizing competition policy, regulation, etc.

**Schedule and Readings**
			Week 1- Gilbert Chapters 1-5
Monday 6July	Lecture	European integration - origins, issues and timelines	BW Chapter 1
	Tutorial	No tutorial
Tuesday 7 July	Lecture	Customs union: common commercial policy and CAP	BW Chapter 4 and 9.1
	Tutorial	Effects of a tariff and equivalent trade barriers
Wednesday 8 July	Lecture	The first enlargement: trade creation and trade diversion	BW Chapter 5-6
	Tutorial	Trade creation and trade diversion - BW Figure 5.4 and p141 question 2
Thursday 9 July	Lecture	External economic relations: the pyramid of preferences and GMP	BW Chapter 12
	Tutorial	Imperfect competition - BW p.161 questions 4-5
Friday 10 July	Lecture	The Road to EMU (The Snake, and EMS)	BW Chapter 13-15
	Tutorial	Trade policy towards non-members- BW, p295, question 4-5
		Written Assignment 1 due (CU theory)	Week 2- Gilbert Chapters 6-8
Monday 13 July	Lecture	Challenges in the 1970s and 1980s (budget, VERS)	BW- Chapters 7-11
	Tutorial	The Impossible Trinity - BW p.322 questions 6-7
Tuesday 14 July	Lecture	Creating the Single Market; Schengen	BW- Chapters 7-11
	Tutorial	Review of EU micro policies and their relation to macroeconomic policies up to 1986
		Written Assignment 2 due (Deep Integration)
Wednesday 15 July	Lecture	Mid-term test
	Tutorial	No tutorial
Thursday 16 July	Lecture	The Fall of the Wall; German reunification; monetary union	BW Chapters 16-17
	Tutorial	Review of Mid-term test
Friday 17 July	Lecture	The EU in the World Economy (WTO;GVS)	BW Chapter 12 (again)
	Tutorial	Optimum currency areas and the Euro
			Week 3- Gilbert Chapter 9
Monday 20 July	Lecture	Enlargement from 15-28	BW Chapters 2-3
	Tutorial	The Stability Pact, p.443-4 questions 1-10
Tuesday 21 July	Lecture	Financial Crises and PIGS	BW Chapters 18-19
	Tutorial	How did the 2004 enlargement affect the growth of GVCs within Europe
		Written Assignment 3 due (Monetary Union)
Wednesday 22 July	Lecture	Migration, Refugees and the Future of Schengenland	BW Chapters 7-8
	Tutorial	Use figure 8.12 to analyze the impact of the 2004 enlargement on the EU labour markets
Thursday 23 July	Lecture	Brexit	TBA
	Tutorial	Revision
Friday 24 July		FINAL EXAM

The 最新糖心Vlog's policy on Assessment for Coursework Programs is based on the following four principles:

Assessment must encourage and reinforce learning.
Assessment must enable robust and fair judgements about student performance.
Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
Assessment must maintain academic standards.

Assessment Summary

Assessment Task	Task type	Due	Weighting
Tutorial assignments (three) and class participation	Summative	various	20%
Mid-term test (90 minutes)	Summative	17 July 2019	30%
Final exam (120 minutes)	Summative	26 July 2019	50%

Assessment Detail

Students are expected to hand in three sets of assignments, each worth 5%, and to prepare for and participate in tutorial discussion (worth 5%).

The mid-term test, whose format and content will be announced in class and posted on MyUni, is intended to provide feedback on students’ progress over the first half of the course.

The final examination requires students to write extended essay-style answers to two questions. Sample exam questions will be posted on MyUni. The final exam will cover the entire course. All material from the classes and required readings is examinable; wider reading and deeper thinking are likely to be rewarded by higher grades. Students’ work will be assessed on the logical quality of the arguments presented and on the ability to determine which arguments better explain the facts. Legible hand-writing and the quality of English expression are integral parts of the assessment process; marks cannot be awarded in the final examination for answers that cannot be read or understood.

Both exams will be online in 2020

Submission

No information currently available.

Course Grading

Grades for your performance in this course will be awarded in accordance with the following scheme:

M10 (Coursework Mark Scheme)
Grade	Mark	Description
FNS		Fail No Submission
F	1-49	Fail
P	50-64	Pass
C	65-74	Credit
D	75-84	Distinction
HD	85-100	High Distinction
CN		Continuing
NFE		No Formal Examination
RP		Result Pending

Further details of the grades/results can be obtained from Examinations.

Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.

Final results for this course will be made available through .

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SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the 最新糖心Vlog to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
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