European Economics  2019
INT 356

The course focuses on different parts of European economics and politics. It also features a module on Lobbying in the EU. Through these aspects of European economics and politics, students will gain an understanding of the workings of the Common Internal Market, its impact on Member States and the EU's position in our globalized world. Importantly, it will show the link between economics and politics, i.e. beyond the normal expertise of a business student in management, marketing or finances. It is also important to understand the political environment in which all of this takes place in order to be able to utilise business opportunities fully.    
Course content may vary one week to another depending upon the availability of PECT rooms.
Evaluation: Exam 50%. Fiscal Policy
Presentation 25%.  Lobbying Presentation 25%.

Programme 2019


Presentations and films
Lesson 1.
Wednesday 16 January

True / False questionnaire
Acronyms list

True / False answers
Lesson 2.
Wednesday 23 January

Macroeconomic Principles
Lesson 1 revision
Acronyms test
Exchange rates exercise

Macro - budget and IR
Macro Revision

Lesson 3.
Wednesday  30 January

The debt crisis in Greece
Data links
Greek 10-year bonds
European debt to PIIGS
Greek reform list
Where did the money go?
IMF benefits from Greek debt
Greece sells 14 airports to Germany
Germans begin the looting of Greece

Macro Revision

The Greek Debt Crisis: Causes, Management and possible solutions (pdf DR)

Failed austerity in Europe - the way out (2m)
Greek selling off public assets (2m)
TROIKA and Greek restructuring (4m. RT)

How do the WTO, IMF and World Bank work?
IMF restructuring (Jamaica)
IMF and World Bank are weapons of war (John Pilger. 21m)
Lesson 4.
Wednesday 6 February

Wealth distribution, growth and poverty Part I

Intra-group research

Research sources
Trading Economics
Purchasing Power Parity
Gini Index
Poverty levels in the world Index Mundi
HDI statistics (United Nations Development Programme)

Branko Milanovic. The haves and the have-nots. 2011
Noam Chomsky. The Prosperous Few and the Restless Many
Sustainable Economics to End Global Poverty from 'Share the World's Resources'

Finish presentation on Greek debt crisis

Growth (with Green GDP and HDI)
200 years of history - wealth and health (BBC)

Wealth distribution exercise (Slide 2 only)

US Wealth Distribution. Politizane. 7m

Robert F. Kennedy speech on GDP (3m)

Lesson 5.
Wednesday  13 February

EMU and the Euro
Origins of monetary systems
Bretton Woods

Euro Convergence Criteria
Maastricht Criteria
Was the Euro a bad idea? (Seeker Daily 3.5m)

New Stability Pact

From Bretton Woods to the Euro (pdf DR)

History of the Euro (15m film European Commission)
Structural inflexibility within the Eurozone (pdf DR)

Lesson 6.
Wednesday 27 February

EU Trade
EU External Trade

EU External Trade Policy (European Commission) (pdf)
Trade negotiations step by step (EC)
EU Trade Negotiations (DG Trade) Choose one trade agreement, take notes, and share information with the other group members.
EU Trade agreements with different countries (DG Trade) Choose one non-EU country, take notes, and share information with the other group members.
EU - MERCOSUR agriculture worries (AFP. 2.5m)
ISDS Research cases (choose an ISDS case study and research it. Then share the information with your group)

WTO Trade investigations (DG Trade)

Follow the Import Export guidelines
Importing and Exporting in the EU
EU Trade Helpdesk
EU tariffs
Export from EU
EU Trade useful links

Free Trade. A Game of no Rules (DW. 42m)

EU Internal Trade

Definitions: Free Trade Area (EEC, EFTA)

Single Market (Schengen area)
Customs Union (Turkey)
Economic Union (harmonisation of macroeconomic policy)
Monetary Union (Eurozone)
EU Trade Agreement
Objectives of a Single Market
● Create fair competition
● Abolish state intervention (Airlines, Trains, Electricity and Gas, Telecommunications...)

● Abolish state monopolies (SNCF, EDF, GDF...)
● Prevent distortion of competition (harmonisation)
● Agree norms and standards
European Single Market - history  (In French. Eu Parliament 4m)
The Single Market (University of Sussex. 3m)
Digital Single Market (EPP. 2.5m)
The Single Market Fact sheet (Europa)
Single Market questions (DR)

Customs Union (Financial Times. 1m)

Lesson 7.
Wednesday 06 March

Fiscal Policy Part I

Tax revenues OECD (tax revenue as % of GDP / per capita)
Social expenditure OECD (total expenditure as % GDP and unemployment % GDP)
Public social spending comparison pdf
EU tax data (European Commission)
World tax comparison
Tax bracket comparison (Wikipedia)
Taxodus.Online game to avoid paying taxes
Fiscal policy pdf DR

Research / presentation groups for ESSCALAND:

Lesson 8.
Wednesday 13 March

Fiscal Policy Part II

Fiscal Policy Presentations
Tax Avoidance and Tax Evasion
Unemployment Benefit
Corporation Tax
Alcohol Duty
Fuel duty (petrol, diesel etc.)
Income Tax
Tobacco Duty
Lesson 9.
Wednesday 20 March

Economies of Scale
Airbus and Galileo

China's C919 (CGTN 2.5m)
C919 Assembly (New China TV. 2m)
China's aviation problems (Wall Street Journal)
Big (Hub/spoke model) or Small (Point to Point)? Wendover productions 10m.

Concorde. Toulouse.

Top 5 satellite navigation systems (SLV 3.5m)
Airbus pdf (DR)
Construction of Airbus A340
Transport - A380
Airbus Beluga (8m)
WTO History of US / EU battle of Boeing vs Airbus (+ how a dispute works)
Boeing and Airbus at the WTO (Airbus. 3.5m)
Satellite navigation systems
Galileo  (Thales 3.5m)
Introducing EGNOS (film)
Galileo Factsheet (pdf))

Lesson 10.
Wednesday 27 March

Financial Crises and Crashes

Gordon Gekko - Greed is Good
Gordon Gekko - "Greed is Not Good"
FDR and the New Deal  - BBC (24m)
High Speed Trading
Economic crises and speculation (DR)
The 1929 Wall Street Crash (DR)
The New Deal (DR)
Lesson 11.
Wednesday 03 April

Lobbying 1
Lobbying Transparency Register (European Commission)

For further details:
The EU lobbyists (52 page guide to lobbying in Brussels)
Billy wants a dog (flv) (US)
What does a lobbyist do? (flv) (Germany)
Lobbying presentation (pdf)

Lesson 12.
Wednesday 10 April

Lobbying 2
Lobbying case study research
(just a few ideas - find your own as well!)

Tobacco industry (see Philip Morris)
Fishing industry (quotas and regulations)
Pharmaceutical industry
Sugar industry (to maintain sugar subsidies)
Car industry to avoid pollution control
Banking sector to avoid regulation
Alcohol industry
Food industry and labelling
Chemical industry and safety controls
International trade TTIP, EU-Mercosur, CETA... EU-Africa
Carbon Trading
Financial Transfer Tax (opposing)

Research the Lobbying Transparency Register: (scroll down to find expenditure)
    Statistics - professional consultancies
                  - in-house lobbyists
                  - NGOs
                  - Think Tanks  (use the 'search' box)
                         - lobbying per country
                         - lobbying by category

Corporate Europe Observatory

Check out to see who receives most CAP money and then find how much they spend on lobbying.
Lesson 13.
17 April

Lobbying 3
See presentations under 'links / lobbying'

Lesson 14
Wednesday  24 April

UK Brexit
Evaluation Brexit
The Irish problem (5.5m Channel 4)
Fishing rights
Fishing industry
Brexit, Corbyn and nationalisation