Basic Economic Concepts for European Political Economy

This information is for the 2016/17 session.

Teacher responsible

Dr Vassilis Monastiriotis COW 2.05


This course is available on the MSc in Political Economy of Europe and MSc in Political Economy of Europe (LSE and Sciences Po). This course is not available as an outside option.

Students from other programmes within the European Institute can also follow the course. This course is for students with little economic background.

Course content

This is a Moodle-based course offering a series of instructional videos / recorded lectures (and related reading material / study guides) on some basic economics concepts and theory that are relevant to discussions concerning the political economy of Europe that students will come across in their other courses during their MSc degree. The course is not assessed and there is no formal instruction. Students are encouraged to work in teams and to develop discussions on Moodle- which will be partially moderated by the Course Convenor. The material is designed so as to be accessible to students with no previous knowledge of economics but students with some basic economics knowledge will also benefit from it. Example topics include: current account and budget deficits (“twin deficits”), inflation and unemployment (“Phillips Curve”), trade liberalisation and tariffs (“gains from trade”), competitiveness and unit labour costs (“internal devaluation”), and others.


This is a Moodle-based course with no formal teaching. Students can arrange one-to-one sessions with the Course Convenor during Feedback Sessions/Office Hours. Depending on student demand, a limited number of 'EU409 Surgeries' can be arranged.

Indicative reading

J Stiglitz & J Driffill, Economics, Norton, 2000 (or later editions); P Krugman & M Obstfeld, International Economics, Addison Wesley, 2003.


There is no examination for this course.

Key facts

Department: European Institute

Total students 2015/16: 55

Average class size 2015/16: Unavailable

Controlled access 2015/16: No

Value: Non-assessed

Guidelines for interpreting course guide information

Personal development skills

  • Self-management
  • Team working
  • Problem solving
  • Application of information skills
  • Communication
  • Application of numeracy skills
  • Specialist skills