Università Roma Tre

PART 1: ECONOMY OF THE MONETARY UNION

Costs of a common currency
The theory of Optimal Currency Areas (AVO) and its criticisms
Benefits of a common currency
Costs and benefits compared
The fragility of incomplete monetary unions
How to complete a monetary union
The transition to a monetary union
The European Central Bank (ECB)
Monetary policy in the Eurozone
Budgetary policies in monetary unions
The euro and the financial markets

PART 2: INSIGHTS

De Grauwe P., Economics of monetary union, il Mulino, 2016.

Students must choose from the following options:

- study a text among the following: 1) Alesina A, Favero C., Giavazzi F., Austerità, Rizzoli, 2019; 2) Pittaluga G.B., Cama G., Central Banks and Democracy, Hoepli, 2004;
- study two texts among the following: 1) Mantovani A., Marattin L., Economics of monetary integration, il Mulino, 2008; 2) Di Maio A., Marani U., (edited by), Economic Policies and International Crisis, The Golden Donkey, 2017; 3) Bini Smaghi L., Dying of austerity, il Mulino, 2013;
- to study three texts among the following: 1) De Romanis V., Austerity makes grow, Marsilio, 2017; 2) Bini Smaghi L., L’euro, il Mulino, 2009; 3) Guerrieri P., Padoan P.C., The European economy, il Mulino, 2009; 4) Papadia F., Santini C., The European Central Bank, Il Mulino, 2012; 5) Santaniello R., The single European market, il Mulino, 2007; 6) Boccella N., Nenci S., The Europe of divas, UTET, 2008; 7) Cesaratto S., Who does not respect the rules ?, Imprimatur, 2018.