Economics of Monetary Union

The twelfth edition of Economics of Monetary Union provides a concise analysis of the theories and policies relating to monetary union. The author addresses current issues surrounding the Eurozone, including; a critical discussion of the costs and benefits of possible exits by its member countries, an analysis of the role of the ECB as new single supervisor and detail on the sovereign debt crisis. In Part One the author examines the implications of adopting a common currency, assessing the benefit to each country from being a member of the Eurozone, whilst also questioning whether other parts of the world would gain from monetary unification. Part Two of the book looks at the problems of running a monetary union by analysing Europe's experience and the issues faced by the European Central Bank. The book is accompanied by online resources that feature: For students: r s1- Links to data sources - Essay questions - Web links - Paul De Grauwe on Twitter For Lecturers: - PowerPoint slides - Instructor's manual

1 - The costs of common currency
2 - The theory of optimum currency areas: a critique
3 - The benefits of a common currency
4 - Costs and benefits compared
5 - The fragility of incomplete monetary union
6 - Transition to a monetary union
7 - How to complete a monetary union?
8 - Leaving a monetary union
9 - The European central bank
10 - Monetary policy in the Eurozone
11 - Fiscal policies in monetary unions
12 - The euro and financial markets

Professor Paul De Grauwe is John Paulson Chair in European Political Economy at London School of Economics and Head of the European Institute. He was a member of the Belgian parliament from 1991 to 2003 and is honorary doctor of the University of Sankt Gallen (Switzerland), of the University of Turku (Finland), and the University of Genoa.