module specification

EC5053 - The European Economy (2017/18)

Module specification Module approved to run in 2017/18
Module title The European Economy
Module level Intermediate (05)
Credit rating for module 15
School Guildhall School of Business and Law
Total study hours 150
45 hours Scheduled learning & teaching activities
105 hours Guided independent study
Assessment components
Type Weighting Qualifying mark Description
Oral Examination 40%   Research essay (2000 words) plus presentation (10 mins)
Unseen Examination 60%   Unseen exam (2 hours)
Running in 2017/18
Period Campus Day Time Module Leader
Spring semester City Wednesday Morning

Module summary

The module applies economic analysis to the study of key aspects of the evolution and nature of the European economy.  In addition it analyses the major economic implications of and issues arising from the functioning of the European economy, and in particular the implications of the process of European integration on the European economy.

Prior learning requirements

Level  4 Principles of Economics or equivalent

Module aims

The essential aims of the module are:

  1. to apply economic analysis to the study of key aspects of the evolution and nature of the European economy;
  2. to analyse the major economic implications of and issues arising from the functioning of the European economy, and in particular the implications of the process of European integration on the European economy.

The module also aims to develop students' skills, in particular: self assessment and reflection;
Subject research; applied analysis; literacy; academic study skills; critical thinking; and communication, including oral presentation.


Introduction: The essential characteristics and development of the European economy.  The `cultures of European capitalism’.
The development of European economic integration and its impact on the European economy: some background considerations.  How the EU works: the Institutional structure of the EU.
EU trade policy: the EU customs union in theory.
Factor mobility in the EU: theory and practice. The completion of the EU internal market in practice and the emergence of the `new’ European economy?  1992, the EURO and beyond.
Common Policies: The Common Agricultural Policy of the EU.
Monetary Union: theory and the EURO in practice.
Common policies: EU regional policy, industrial and competition policies.
EU enlargement.  The EU and the world.

Learning and teaching

Students’ learning is organised around direct contact time with the teaching team, and refective independent learning. The direct contact time takes place through lectures and . Students are expected to complement this 'formal' learning activity with further reading of the material suggested in the teaching sessions, research, writing, planning and preparation for presentations, and the final exam.

Student contact time will normally be 3 hours per week. Lectures, which will be highly interactive, will typically be around 2 hours duration and will deliver core subject knowledge. In the 1 hour seminar the emphasis is on student learning through participation, formative feedback and active learning.

The contact time with teaching teams will be organised around a range of learning activities including active learning to acquire knowledge and understanding, problem solving, problem based learning, presentations, analysis of case studies, group reading and analysis of research papers, discussion of policy issues and debate.

Many activities require students to carry out independent work prior to meetings with lecturers. Increasingly through the module students are required to engage with research published in high level academic journals and research institutes. Independance is developed progressively through the module such that students are required to take greater responsibility of their work.

The module makes extensive use of blended learning  through use of virtual learning environment platforms (WebLearn, Publisher E-resources) in which module lecture material, course handbooks, test questions, previous assessment with feedback, and other material is placed.  Other ICT resources include links to key web resources such as Government departments, EU sources including European Documentation Centres, and research institutes.

Learning outcomes

On successful completion of this module students will be able to:

  1. demonstrate a broad knowledge and a systematic understanding of the economics of the European economy covering theory, policy and application;
  2. scenario plan and discuss possible future develops in the EU arising from further economic transition;
  3. marshall evidence and assimilate, structure, analyse and evaluate qualitative and quantitative data to understand and critically evaluate policy issues in the subject.

Assessment strategy

The examination of 2 hours will require students to write answers to questions addressing the underlying principles or issues of the subject matter. The coursework and final exam will assess the student’s: knowledge and understanding of the European economy covering theory, issues, policy and application; ability to apply and to critically assess what they learn; ability to marshal evidence, both qualitative and quantitative, to understand and critically evaluate issues in the subject.


Aldcroft, D. (2004) The European Economy 1914-2000, 4th ed.. London: Routledge.
Artis M J & Lee N (eds), The Economics of the European Union  OUP 2005
Baldwin & Wyploscz, The Economics of European Integration, 3rd ed McGraw-Hill 2009
De Grauwe, P, The Economics of Monetary Integration, latest ed, OUP
Dore, R. (2000) Stock Market Capitalism: Welfare Capitalism - Japan and Germany versus the Anglo-Saxons. Oxford: Oxford University Press.
Edye D & Lintner V, Contemporary Europe, Prentice-Hall 1996
El_Agraa A M (ed), The Economics of the European Union, 8th ed Prentice-Hall 2007
Graham, A and Seldon, A. (1990) Government and Economies in the Postwar World, London: Routledge.
Hall, P. and Soskice, D. (2001) Varieties of Capitalism: The Institutional Foundations of Comparative Advantage, Oxford: Oxford University Press.
Lintner V  Economic Aspects of the European Union, Routledge 2011 (forthcoming)
Lintner V & Mazey S, The European Comunity: Economic and Political Aspects, McGraw-Hill 1991
McDonald F & Dearden S European Economic Integration 2004
Maddison, A. (1991) Dynamic Forces in Capitalist Development: A Long-Run  Comparative View, Oxford: Oxford University Press.
Pelkmans J,  European Integration 3rd ed Prentice Hall 2006
Schultz M (ed), Western Europe Since 1945, Longman, 1999
Senior Nello S, The European Union: Economics, Policies and History, McGraw-Hill 2005
Thompson G (ed), Governing the Economy, Open University 2001