European Economics  2020
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%.


Presentations and films
Lesson 1.
Wednesday 15 January

True / False questionnaire
Acronyms list

True / False answers
Lesson 2.
Wednesday 22 January

Macroeconomic Principles
Lesson 1 revision
Acronyms test
Exchange rates exercise

Macro - budget and IR
Macro Revision

Lesson 3.
Wednesday  29 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 5 February

Wealth distribution, growth and poverty Part I

Intra-group research

Research sources
Trading Economics
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  12 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
G10 currencies

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 26 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)
US Airbus tax (EuroNews)

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 04 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 11 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
Marks and comments
Lesson 10.
Wednesday 25 March

Financial Crises and Crashes

Additional links
Gordon Gekko - Greed is Good
Gordon Gekko - "Greed is Not Good"
High Speed Trading
FDR and the New Deal  - BBC (24m)
The New Deal (DR)
Lesson Instructions
 Introductory video
Flowers to avoid dying of the Great Plague
Ring a ring of roses
Economic crises and speculation (DR)
Video presentation of  Economic Crises and Speculation
The 1929 Wall Street Crash (DR)
Video presentation of The 1929 Wall Street Crash Part 1
Video presentation of The 1929 Wall Street Crash Part 2

Lesson 9.
Wednesday 1 April

Economies of Scale
Additional links
The WTO dispute - from Airbus's point of view
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.

Top 5 satellite navigation systems (SLV 3.5m)
Satellite navigation systems
Galileo  (Thales 3.5m)
Introducing EGNOS (film)

Galileo Factsheet (pdf))
Lesson instructions
Construction of Airbus A340
Introductory video
Concorde Toulouse
Transport - A380
Airbus pdf (DR)
Airbus commentary
Airbus Beluga (8m)
Airbus Maveric
Airbus Worksheet
Airbus worldwide presence
Introduction to the Airbus Boeing WTP dispute
WTO History of US / EU battle of Boeing vs Airbus (+ how a dispute works)
WTO arbitration (see conclusion only)
Boeing and Airbus at the WTO (Airbus. 3.5m)

Lesson 11.
Wednesday 08 April

Lobbying 1
Lobbying Transparency Register (European Commission)
List of consulting firms in Brussels
Biggest consulting agencies in Brussels
Open Secrets
Monsanto 'watch lists' of GMO opponents

Lobbying lesson instructions

Billy wants a dog (flv) (US)
What does a lobbyist do? (flv) (Germany)
Corporate lobbying is still too influential in the EU (Is4profit)
Lobbying presentation (pdf)
Lobbying presentation video

Lesson 12.
Wednesday 15 April

Lobbying 2

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

(also - see 'lobbying' on the 'links' page)

Student presentations
Nestlé 1
Nestlé 2
Total 1
Total 2
Association of Financial Markets
Philip Morris 1
Philip Morris 2

Marks and comments

Lesson instructions
The EU lobbyists (lobbyplanet)
Corporate Europe Observatory
Lobbying Transparency Register

Lesson 13.
22 April

UK Brexit
Brexit lesson guidelines
Brexit (2019) Explainity 6m
Brexit Introduction
Brexit presentation
Brexit commentary
The Economic Consequences of Brexit. OECD
The Irish problem (5.5m Channel 4)
Brexit details from the European Commission

Lesson 14
Friday  24 April

Structural inflexibility within the Eurozone
Video commentary of Structural inflexibility'
A few thoughts on a post-Covid19 European Union
Video commentary on 'A Few Thoughts on a Post-Covid19 European Union'
Revision answers (video)