BEXP 14A01 - Europe and Finance

With 450 million citizens and a GDP of € 15 trillion, the European Union (EU 27) is the second largest economy and the most integrated trading zone in the world. But does this hold true financially? How does Europe compare with other economic and financial giants such as the US and China? Does it have the appropriate framework for its economy to develop?

The course will look at the organisation and functioning of capital markets (equities, bonds, forex…) and financial institutions (IMF, World Bank, EIB…); the role of banks, central banks (Fed, ECB…), institutional investors (pension funds, asset managers…), stock exchanges, regulators and how the EU compares with the US and China.

It will examine the EU unprecedented experiment: the Euro. Twenty years after, was it a historical breakthrough or a “fatal decision” (Stiglitz) especially in regards of the financial crises that have recently hit Europe (subprime crisis, euro sovereign debt crisis, Brexit, and the COVID-19 pandemic)? The course will discuss these crises, the solutions taken to tackle them, and the overall relationship between finance and society.

Lastly, it will take a look at how the EU is trying to lead the world by example in the transition to a sustainable economy notably via the EU Green Deal.

No specific knowledge necessary. Interest in contemporary European and financial issues.

Participation and attendance. Presentations.

Discussion of articles, news briefings related to the topics. Organised debates.