ECN 304 - Economics of the European Union

The year 2002 began with an unprecedented event of immense importance in economic history: the launching of the euro. The single European currency at last became a reality, promising to forever alter the dynamics of the international economic arena and trade relations between Europe and the nations of the world. 2004 was also a landmark year for Europe: on May 1, ten nations have become member states of the Union, bringing the total to 25 members and the total population to nearly 500 million. We should not lose sight of the fact that never before have so many sovereign nation states embarked upon such an experiment, relinquishing power over their own economies and locking themselves into an economic system to be steered by an independent entity, in this case, the European Central Bank. The existence of the euro will transform the economic realities of Europe, the transatlantic relationship and Europe’s role in the world.

Prerequisites & Notes
ECN 201 and ECN 202

   (Cr: 3)