This course provides a rigorous analysis of the past and current issues relating to the European Union and of the central theoretical and empirical issues raised by the process of European integration. It provides a comprehensive analysis of the theories of custom unions and optimal currency areas, while also presenting a detailed discussion of the most important policies of the EU. The objective is to equip students with an advanced understanding of the theoretical basis of these issues and the debate surrounding them.

Definitions, Stages of and economic rationale for Economic Integration (the issue of Sovereignty); Historical milestones in the process of Economic Integration in Europe (Treaties - their evolving objectives); Institutions and budget; Theory of economic integration: 1. Customs Union Theory (Trade creation and trade diversion effects; the Single European Market; 2. Common Market Theory (Factor price equalization theorem); 3. Monetary Integration – Theory and practice (Definitions and Optimum Currency Area Theory); Economic and Monetary Union (Barre, Delors, Maastricht; the issue of asymmetric shocks; role of the ECB); Economic Growth and Crises (Explaining economic growth - from Solow to the new growth models – Implications of the crises: budgetary, monetary, industrial, governance, social); EU Macroeconomic policies (Common Agricultural Policy – “Greening” the CAP - Global Trade Strategy – Sustainability issues)

On successful completion of this module, students will be able to: Describe the historical development of the EU; Analyse a wide range of EU policies and their impact on the Irish economy; Interpret and explain theories of trade, competition and macroeconomic policy; Describe the role of international trade organisations and agreements; Discuss and analyse Irish government policy in light of the presence of the EU.

On successful completion of this module, students will be able to: Demonstrate an appreciation of the important issues of the day pertaining to the EU from an economic viewpoint.

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The module is delivered through a combination of lecture and tutorial contact hours, as well as private study hours. Each lecture will be a mixture of multimedia presentations on key theories and policies relating the European Union. Discussions of recent developments, research papers related to the European Union and Irish economies are incorporated into the module. Tutorials are dedicated to proving students with a platform for greater discussion of the module content. The University of Limerick Graduate Attributes will be developed by: Developing students' curiosity through an encouragement of critical thinking and a deepening of knowledge relating to global events; emphasising student's responsibility to organise their time in an efficient manner and to work to specific deadlines.