Studierende der Politikwissenschaft im Bachelor (auch Bachelor Lehramt) sowie Austauschstudierende im Bachelorprogramm

Kursbeschreibung

What’s wrong with the Euro? When a group of European Union member states introduced the common currency in 1999, the Euro was off to a good start. During the first decade, the Eurozone experienced an economically prosperous period. Yet, since the outbreak of the global financial crisis of 2007-09, the Eurozone has endured a tumultuous second decade while coming at times dangerously close to a breakup. Several explanations for these events have been offered, ranging from excessive government spending in select member states over institutional weaknesses of the currency to contradictions inherent to market-based societies. Each explanation differs in terms of the underlying premises, identification of relevant factors, and proposed solutions to the observed problems.

The goal of this seminar is to understand these issues, disentangle the varied approaches, and assess merits and flaws of the different perspectives. To this end, it will address the origins and consequences of the Euro and the Eurozone crisis.

The first part of the seminar reviews the run-up to the creation of the Euro. Step-by-step, we will assess the status quo in post-war Europe and consider the political and economic rationales for creating first a common market and then a common currency.

The second part of the seminar engages with the established Eurozone, its supposedly successful first ten years, and the turbulent times thereafter. We will consider the onset of the Eurozone crisis, the policy responses at domestic and European level, as well as the remaining shortcomings in the institutional and economic governance of the Euro. The seminar aims to assess and explain the historical, political, and economic aspects underlying the creation and the trajectory of the European Economic and Monetary Union. Prior knowledge of European integration or economic theory is commendable, but the seminar is open to all students willing to engage with the subject.