Political Economy of Europe

This information is for the 2015/16 session.

Teacher responsible

Dr Vassilis Monastiriotis COW 2.05


This course is compulsory on the MPA in European Public and Economic Policy, MSc in Political Economy of Europe and MSc in Political Economy of Europe (LSE and Sciences Po). This course is available on the MSc in European Studies (Research). This course is not available as an outside option.

Course content

This course is the core course on the MSc Political Economy of Europe. It tries to understand how the relation between state and economy in both Western Europe and Central and Eastern Europe has evolved over the post-war period and through this prism examine the politics and economics of the formation, governance and continuing development (deepening – widening) of the EU. We look at how capitalism and democracy were reconciled in different socio-economic models of post-war Europe and what role European integration played in their evolution. Recent and past crises of economic and political integration will be analysed as well as the attempts to complete and reform the existing union.

Key debates in this regard include state-economy relations, democracy and welfare; economic systems, stability and change of policy paradigms; state competencies, policy delegation and theories of integration; EU enlargement and conditionality; economic governance in the EU (with emphasis on the Single Market and EMU); the political economy of policy-making in the EU and its interaction with Member State preferences and capacities; crisis and reform in historical perspective and the growth & reform agendas post-crisis. The course aims to provide students with both an analytical understanding of, and a systematic treatment of empirical issues related to, the evolution of the European political economy.


10 hours of lectures and 15 hours of seminars in the MT. 10 hours of lectures and 15 hours of seminars in the LT. 1 hour of lectures and 1 hour and 30 minutes of seminars in the ST.

Students on this course will have a reading week in Week 6, in line with departmental policy.

Formative coursework

Two individual essays, one group essay plus a mock examination.

Indicative reading

Barry Eichengreen, The European Economy Since 1945: coordinated capitalism and beyond (Princeton University Press 2007); Paul De Grauwe, The Economics of Monetary Union (Oxford University Press 2014, 10th ed.); Gérard Roland, Transition and Economics: politics, markets and firms (Cambridge MA: The MIT Press 2000); Ben Rosamond, Theories of European Integration, (New York: St Martin’s Press 2000); Helen Wallace, Mark A. Pollack and Alasdair R. Young (eds.) Policy-making in the European Union (Oxford University Press 2010, 6th ed.); Bob Hancké, Martin Rhodes and Mark Thatcher, Beyond Varieties of Capitalism (Oxford University Press 2007); Mark Blyth, Austerity: the history of a dangerous idea (Oxford University Press 2013). 


Exam (100%, duration: 3 hours) in the main exam period.

Student performance results

(2011/12 - 2013/14 combined)

Classification % of students
Distinction 14.5
Merit 68.3
Pass 16.3
Fail 0.9

Key facts

Department: European Institute

Total students 2014/15: 75

Average class size 2014/15: 15

Controlled access 2014/15: No

Lecture capture used 2014/15: Yes (MT & LT)

Value: One Unit

Guidelines for interpreting course guide information

Personal development skills

  • Self-management
  • Team working
  • Communication