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An overview of the elements of both microeconomic and macroeconomic theory related to the analysis of the EU. Its analyses are based on new trade theory and new growth theory, and areas covered include economic integration, common market theory, and monetary integration theory.
An analysis of the history, theory and practice of European integration, designed to appeal to a wide range of students studying economic integration as part of an economics, business, law or public-administration degree. This edition includes a new chapter on the environment.
Placed in the context of the upcoming referendum, this second edition brings up to date a thorough review of all economic aspects of the UK's membership of the EU. It notes the intention of the EU to move to 'ever closer union' and the nature of the regulatory and general economic philosophy of its dominant members, whose position is enforced by qualified majority voting. The book highlights the UK’s dilemma that, while extending free markets to its local region is attractive, this European philosophy and closer union are substantially at odds with the UK's traditions of free markets and freedom under the common law. This comprehensive examination of the economic costs and benefits of membership uses state-of-the-art modeling methods and includes estimates of its net costs as a percentage of GDP. The book explains how the decision to leave would follow from a judgement on the political economy of the EU as compared with that of the UK. It details the misconceptions involved in much of the debate about trade with the EU, and argues that the key issue is not access to markets but rather the prices at which trade takes place. Covered in careful detail is the economics of the UK’s trade with the EU in the key sectors of agriculture, manufacturing, and services.
"Guilds ruled many crafts and trades from the Middle Ages to the Industrial Revolution, and have always attracted debate and controversy. They were sometimes viewed as efficient institutions that guaranteed quality and skills. But they also excluded competitors, manipulated markets, and blocked innovations. Did the benefits of guilds outweigh their costs? Analyzing thousands of guilds that dominated European economies from 1000 to 1880, The European Guilds uses vivid examples and clear economic reasoning to answer that question. Sheilagh Ogilvie's book features the voices of honorable guild masters, underpaid journeymen, exploited apprentices, shady officials, and outraged customers, and follows the stories of the "vile encroachers"--Women, migrants, Jews, gypsies, bastards, and many others--desperate to work but hunted down by the guilds as illicit competitors. She investigates the benefits of guilds but also shines a light on their dark side. Guilds sometimes provided important services, but they also manipulated markets to profit their members. They regulated quality but prevented poor consumers from buying goods cheaply. They fostered work skills but denied apprenticeships to outsiders. They transmitted useful techniques but blocked innovations that posed a threat. Guilds existed widely not because they corrected market failures or served the common good but because they benefited two powerful groups--guild members and political elites."--Rabat de la jaquette.
This publication contains the proceedings of the first four meeting of the European Commission's Group of Economic Analysis, held between December 2001 and January 2003. This Group includes 25 of the top EU and non-EU economists, which are brought together three to four times a year to discuss key economic issues in Europe. The discussions relate to: policies to raise EU growth potential; economic policy co-ordination and fiscal discipline; industrial policy in an enlarged Europe; and corporate governance.
This comprehensive volume comprises original essays by authors well known for their work on the European Union. Together they provide the reader with an economic analysis of the most important elements of EU law and the mechanisms for decisions within the EU. The Handbook focuses particularly on how the development of EU law negotiates the tension between market integration, national sovereignty and political democracy. The book begins with chapters examining constitutional issues, while further chapters address the establishment of a single market. The volume also addresses sovereign debt problems by providing a detailed analysis of the architecture of the EU's monetary institutions, its monetary policy and their implications. The depth and breadth of the Handbook's coverage make it an essential reference for students, scholars and policymakers interested in the complexities of the European Union.
The Economics of the European Union and the Economies of Europe integrates economic analysis, political logic, and historical interpretation to convey an American perspective on the movement towards European integration, the external constraints integration faces, and the interplay of national concerns, both economic and political, within the vision of a united Europe. The first part of the text treats Europe as a natural economic unit, (1945-1989) separated into political units that still remain distinct from one another. The authors focus on the most striking aspects of European integration such as trade, agriculture, and monetary unification. Part II shows the continuing political and economic diversity of Europe by examining the post World War II history of major states and groups of minor states. Knowing the different concerns of the constituent member states is essential for understanding the motivation of the European Unions policies, and for appreciating the extent of its accomplishments. Moreover, the economic logic of European unification is viewed quite differently by each current member state, as well as by potential members. The authors conclude with a discussion of the future of the European Union in an evolving world economy. The Economics of the European Union and the Economies of Europe is an ideal text for economics and political science courses and international business courses.
This insightful book assesses emerging trends in the role of economic analysis in EU competition policy, exploring how it has substantially increased in terms of both theories and methods.