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DRPS : Course Catalogue : School of Social and Political Science : Postgrad (School of Social and Political Studies)

Postgraduate Course: The Euro: Theory, History, and Crisis (PGSP11356)

Course Outline
SchoolSchool of Social and Political Science CollegeCollege of Humanities and Social Science
Credit level (Normal year taken)SCQF Level 11 (Postgraduate) AvailabilityAvailable to all students
SCQF Credits20 ECTS Credits10
SummaryThe crisis in the eurozone represents the most significant challenge to European integration since it commenced in the 1950s. This interdisciplinary course will combine economics, law, and political science. It will consider the theory of currency unions, the political and legal history of economic and monetary union, the political and economic development of the present crisis, and the normative dimensions of the crisis. It will thus be a highly salient addition to the IEP MSc programme and, at least in its first iteration, is likely to involve real-time tracking of political developments in the eurozone.
Course description The course title conveys the tripartite structure. Theory, history, and crisis will be dealt with in that order. The interdisciplinary nature of the course will be stressed, and be apparent, from the outset with the first two theoretical weeks combining economics, politics, and law. More specifically the weekly breakdown of topics is as follows:
1. Introduction: Group exercise/discussion
2. Theory 1: Economic Theory of Currency Unions
3. Theory 2: Law and Politics of Europe┐s Currency Union
4. History 1: Attempts at EMU during the Cold War
5. History 2: German Unification, Maastricht, and the Euro
6. Crisis 1: The Causes of the Crisis and the Early Response
7. Crisis 2: Contagion and Crisis in the Banking System
8. Crisis 3: Member State and ECB Crisis Management
9. Crisis 4: Normative perspectives on the crisis
10. Conclusion: What future for the euro and for the EU?
Entry Requirements (not applicable to Visiting Students)
Pre-requisites Co-requisites
Prohibited Combinations Other requirements None
Information for Visiting Students
Course Delivery Information
Not being delivered
Learning Outcomes
By the end of the course students will be able to:

- Demonstrate basic economic knowledge of how currency unions work in theory;
- Know and understand academic debates surrounding the interaction between politics, law, and economics;
- Be able to apply theories of IR, IPE, and European integration to a key EU policy;
- Demonstrate advanced knowledge of the history of economic and monetary union in Europe, the nature of the current crisis, and the nature of the policy responses to date;
- Be able to critically engage with core academic texts and official EU reports and articulate an informed view about the nature of the EU and the prospects for its future development.
Reading List
- Kenneth Dyson and Kevin Featherstone, The Road to Maastricht: Negotiating Economic and Monetary Union (Oxford: Oxford University Press, 1999).
- Paul de Grauwe, Economics of Monetary Union 9th ed. (Oxford: Oxford University Press, 2012).
- Otmar Issing, The Birth of the Euro (Cambridge: Cambridge University Press, 2008).
- David Marsh, The Euro: the Battle for the New Global Currency (New Haven: Yale University Press, 2011).
- Policy briefings from, amongst others, Bruegel, Center for European Policy Studies, European Centre for International Political Economy, and Ifo Institute.
Additional Information
Graduate Attributes and Skills Not entered
KeywordsNot entered
Course organiserDr Daniel Kenealy
Tel: (0131 6)50 4080
Course secretaryMrs Gillian Macdonald
Tel: (0131 6)51 3244
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