JOHN CABOT UNIVERSITY COURSE CODE: "EC 345" COURSE NAME: "Economic, Competition, and Regulatory Issues of the European Union" SEMESTER & YEAR: Fall 2016

SYLLABUS INSTRUCTOR: Pal Belenyesi EMAIL: [email protected] HOURS: MW 1:30PM 2:45PM TOTAL NO. OF CONTACT HOURS: 45 CREDITS: 3 PREREQUISITES: Prerequisites: EC 201, EC 202 OFFICE HOURS:

COURSE DESCRIPTION: This course follows selected topics of current and historic interest regarding European economic integration. Emphasis is placed on monetary and fiscal problems as well as competition policies and the regulatory environment.

SUMMARY OF COURSE CONTENT:  The course will be held twice a week. Students are expected to actively participate in discussions and contribute to course work, individual or group-related.

LEARNING OUTCOMES: Students will understand the functioning of the European Union and have a good deal of apprehension of its policies, in particular competition and the network industries. Though the course does not substitute for a detailed institutional introduction course on the EU, it is expected that attendees will have a clearer sight of how the EU works in terms of lawmaking and policy monitoring. The structure will also help visiting students to make the best of their short stay in Europe and take back what is possible in terms of understanding the way the EU functions. We will also spend a great deal on basic competition and regulatory economics: cartels, abuse of dominant positions and state aid. All in the context of the functioning of the EU. However, before arriving to this part of the course, we will get to know what is behind the internal market, what economics lead the ever further - and not yet completed - work that started in 1951: common market, customs union, single European market [monetary union] and internal market. We will look at the efficiencies behind the harmonization of a great deal of national laws.

TEXTBOOK: Book Title Author Publisher ISBN number Library Call Number Comments Format Local Bookstore Online Purchase Policies and Policy Processes of the European Union L. Buonanno and N. Nugent Palgrave Macmillan 9781403915139           The Euro - how a common currency threatens the future if Europe Joseph Stiglitz WW Norton & Company 978-0-393-25402-0

REQUIRED RESERVED READING: NONE RECOMMENDED RESERVED READING: NONE

GRADING POLICY -ASSESSMENT METHODS: Assignment Guidelines Weight Final exam Written test. 45 In-class assignment Home assignment. 10 Mid-term exam Written test. 45 -ASSESSMENT CRITERIA: AWork of this quality directly addresses the question or problem raised and provides a coherent argument displaying an extensive knowledge of relevant information or content. This type of work demonstrates the ability to critically evaluate concepts and theory and has an element of novelty and originality. There is clear evidence of a significant amount of reading beyond that required for the co BThis is highly competent level of performance and directly addresses the question or problem raised.There is a demonstration of some ability to critically evaluatetheory and concepts and relate them to practice. Discussions reflect the student’s own arguments and are not simply a repetition of standard lecture andreference material. The work does not suffer from any major errors or omissions and provides evidence of reading beyond the required assignments. CThis is an acceptable level of performance and provides answers that are clear but limited, reflecting the information offered in the lectures and reference readings. DThis level of performances demonstrates that the student lacks a coherent grasp of the material.Important information is omitted and irrelevant points included.In effect, the student has barely done enough to persuade the instructor that s/he should not fail. FThis work fails to show any knowledge or understanding of the issues raised in the question. Most of the material in the answer is irrelevant. -ATTENDANCE REQUIREMENTS: Refer to the University Policy.

ACADEMIC HONESTY As stated in the university catalog, any student who commits an act of academic dishonesty will receive a failing grade on the work in which the dishonesty occurred. In addition, acts of academic dishonesty, irrespective of the weight of the assignment, may result in the student receiving a failing grade in the course. Instances of academic dishonesty will be reported to the Dean of Academic Affairs. A student who is reported twice for academic dishonesty is subject to summary dismissal from the University. In such a case, the Academic Council will then make a recommendation to the President, who will make the final decision.

STUDENTS WITH LEARNING OR OTHER DISABILITIES John Cabot University does not discriminate on the basis of disability or handicap. Students with approved accommodations must inform their professors at the beginning of the term. Please see the website for the complete policy.

SCHEDULE

Introduction to the EU, basic notions. Trade statistics, the EU's role in international trad Regional integrations, economic benefits EU competences (TFEU Art's 2-6) International trade - discussion of models (Smith, Riccardo, Hecksher-Ohlin (the Leontief-paradox), The gravity model, New Trade theory (Krugman), Porter-national competitiveness, Friedman - globalization 1.0-3.0), the Role of the EU and EU policies in international trade EU policies - developmental approach Policy creation, the dynamics behind.  Economics of integration: costs and benefits (demand, supply, open-economy and closed trade area). Historical overview of the economic and monetary integration process in Western Europe: from World War II to the recent times. (Political reasons, Churchill’s Zurich speech, CMEA, UNECE, OEEC-OECD, EPU, federalism - inter-governmentalism) Intergovernmentalism - Supranationalism. Decision—making process. The EU Debt Crisis. The legal acts in the EU: directives, regulations, recommendations, decisions, opinions. The way from customs union to the Internal Market. Mid-term exam. The theory of trade and EU.  The EU institutions: the European Commission, the European Parliament, the European Council, the Council of Ministers, and the European Court of Justice. Van Gend en Loos, Costa vs ENEL-cases (Supremacy of EU Law, direct effect) Brexit - The UK's vote on leaving the EU The Single Market: the process of economic integration in the EU. Barriers to trade – some examples of the evolving case law of the EC.  The Single Market II. Free movement of goods, persons, services, capital. Competition Policy in the EU. Economics of Competition. The basics.