European Monetary Union: Economic Rationale, Architecture, and Structural Tensions
Students will learn about the Euro as a common currency used by many countries in Europe and its benefits for travel and trade.
Key Questions
- Evaluate the economic rationale for monetary union in Europe, critically assessing whether the eurozone satisfies the conditions of an Optimum Currency Area and examining the inherent trade-offs between monetary efficiency and macroeconomic flexibility for peripheral member states.
- Analyse the asymmetric impact of a single monetary policy on eurozone economies with divergent productivity and competitiveness profiles, using Ireland's Celtic Tiger boom-bust trajectory and Greece's sovereign debt crisis as contrasting case studies.
- Critically assess the institutional architecture of the eurozone — the European Central Bank mandate, Stability and Growth Pact fiscal rules, and the Banking Union framework — and evaluate the effectiveness of these mechanisms in managing systemic economic shocks.
NCCA Curriculum Specifications
Suggested Methodologies
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