EU Economics and Slovenia

Aims of the course

To learn about the processes of international economic cooperation with the emphasis on the specifics of regional economic integrations and the EU as the most advanced economic integration. To understand why countries form economic integrations and what are their effects in the context of globalisation and multilateral liberalisation processes.
To understand functioning of the EU, the role of individual member states (especially Slovenia), current dilemmas and possible future developments.
Develop the ability for research work and practical skills needed for argumentation, presentation and discussion.

Course syllabus

1.Multilateral liberalisation and regional integration processes:
• The position of the EU in global economy;
• Understanding importance of regional economic integration, multilateralism versus regionalism, supremacy of regionalism, WTO- RTAs relation;
• Progressive stages in the economic integration: A case of the EU.
2.Understanding trade effects:
• comparing autarky, free trade, MFN tariff equilibrium
• Defining gains from trade
• Implications of tariff imposition
3.Effects of economic integration: economics of preferential liberalization:
• Static effects: trade creation &trade diversion;
• Unilateral and reciprocal preferential liberalisation;
• Measuring TC and TD effects, a case of the EU.
4.EU history & future of the EU, candidate and potential candidate countries
5.EU institutions and law making
6. Internal market: dynamic effects, functioning, business implications
7.Monetary integration; from EMS to Euro, OCA theory, future of the Euro, fiscal and banking union
8.External economic relations of the EU, Common commercial policy
9.Cohesion policy of the EU

Course director(s)