Economics of the Monetary Union (14th edition)

ISBN : 9780192849779

Paul De Grauwe
320 ページ
189 x 246 mm mm
  • The only textbook that discusses both the costs and benefits of monetary unions and the actual workings of the eurozone
  • Filled with thought-provoking concepts to ensure students gain a balanced understanding of different arguments and perspectives related to the European Monetary Union
  • Encourages students to examine the monetary union through theory, empirical analysis, and policy implications

New to this Edition:

  • New content related to the effects of Covid-19 on the Eurozone and European Central Bank
  • Increased coverage of the history of the monetary union in Chapter 6
  • Additional end-of-chapter questions which enable students to recap their understanding of the concepts and theories presented in each chapter

Reflecting the most update-to-date coverage of institutional changes within the European Monetary Union, the fourteenth edition of De Grauwe's established textbook continues to encourage students to think critically about the sustainability of the Eurozone. The author uses an authoritative, concise and exciting approach to analyse theories and policies relating to monetary union, allowing students to develop a balanced understanding of different arguments and perspectives.
Part One examines the implications of adopting a common currency while Part Two considers the problems associated with running a monetary union. Both parts analyse Europe's experience and the issues faced by the European Central Bank.
Case studies throughout the text provide rich, real life and qualitative examples to help students connect with the concepts and policies presented. Additionally, each chapter ends with a conclusion recapping the core issues, and a set of questions, which encourages students to test their knowledge and stretch their understanding further.
The fourteenth edition is available for students and institutions to purchase in a variety of formats, and is supported by online resources.
· This book is accompanied by the following online resources:

For students:
- Links to data sources
- Essay questions
- Web links
- Paul De Grauwe on Twitter

For Registered Adopting Lecturers:
- PowerPoint slides
- Instructor's manual


Part 1: Costs and Benefits of Monetary Union
1:The costs of a common currency
2:The theory of optimum currency areas: a critique
3:The benefits of a common currency
4:Costs and benefits compared
Part 2: Monetary Union
5:The fragility of incomplete monetary unions
6:The transition to a monetary union
7:How to complete a monetary union
8:Political economy of deconstructing the Eurozone
9:The European Central Bank
10:Monetary policy in the Eurozone
11:Fiscal policies in monetary unions
12:The euro and financial markets


Paul De Grauwe, John Paulson Chair in European Political Economy, London School of Economics

"This is the best book in economics of the Monetary Union. It's well written and easy to follow by students" - Soleiman Mohammadi Limaei, Senior Lecturer, Mid Sweden University

"An outstanding example of how an applied economics text should be written. Comprehensive, clear, well-structured, and reflecting the latest theoretical and policy debates" - Robert Ackrill, Professor of European Economics and Policy, Nottingham Trent University

"The most updated and clear textbook that covers the challenges and prospects of the European Monetary Union" - Giancarlo Ianulardo, Lecturer in Economics, University of Exeter