European Macroeconomics II

European Macroeconomics II
Licence Économie et gestionParcours International economics and management


This lecture on "European macroeconomics" mainly focuses on the governance of economic policies in the EU. More precisely, this course proposes to present the main steps of the European integration process, to explain the originality of the Eurozone and to offer an original presentation of fiscal policy in the EU to underline the multi-level governance of public finance in the EU.

Compétences visées

  • Awareness of the specificities of the Eurozone
  • Understanding of the divergences, tensions and potential of harmonization especially as regards fiscal policy and public finance management
  • Potential capacity to relate this knowledge to firms strategies

Modalités d'organisation et de suivi

Plan of the lecture :
Introduction - The main steps of the European integration process

Chapter 1 – the monetary integration of the EU: the main features of the EMU

  1. From Maastricht Treaty (1992) to the birth of the Eurozone (1999)
  2. The ECB and the monetary strategy

Chapter 2 - The original organization of fiscal power in the EU

  1. The Community budget
  2. The multi-level governance of public finance in the EU
  3. The EU, a particular form of fiscal federalism?

Chapter 3 - The European Strategy to support growth and employment

  1. The Lisbon Strategy (2001-2010)
  2. The Europe 2020 Strategy (2011-2020)

Chapter 4 - Fiscal discipline and economic governance in the EMU

  1. From Maastricht Treaty (1992) to the Stability and Growth Pact (1996)
  2. The European Semester, the Six Pack, the Two Pack and the Fiscal Compact

Chapter 5 – The various form of the Europeanisation of public expenditure

  1. Non-Community European spending: A little known yet substantial reality
  2. FESF and MES
  3. Project bonds and Eurobonds


  • Sciences de gestion et du management
  • Sciences économiques


  • BARBIER-GAUCHARD Amélie (2014), European public expenditure : Communitylevel and National level, Study for EuropeanParliament, Directorate General for InternalPolicies, Policy Department : BudgetaryAffairs.
  • BARBIER-GAUCHARD Amélie (2013),Non communityEuropeanSpending: Alittleknownyetsubstantial reality, Notre Europe-Institut Jacques Delors, Policy Paper, n95, september.
  • BARBIER-GAUCHARD Amélie et RUBIO Eulalia (2012),Spendingbettertogether - Analysis andrecommendations, Notre Europe-Institut Jacques Delors, Synthesis, november.
  • BARBIER-GAUCHARD Amélie, LE GUILLY Marie-Françoise et MAREUGE Céline (2012),
  • Scoreboard of European public spending: An aggregated approach to clarify the organisation of public finance in the EU, Centre d’Analyse Stratégique, february.
  • BARBIER-GAUCHARD Amélie (2011), Thinking the EU budget and public spending in Europe:the need to use an aggregate approach, Notre Europe, Brefs, n29, june.


Responsable(s) de l'enseignement