1. International Economics and European Economic History Pier Francesco Asso, Università di Palermo credits; Wednesday-Thursday: 8-10, Collegio San Rocco

2. Summary of the reading list and possible options (see also the «scheda di trasparenza»)
3 blocs and 7 Papers:
Bloc 1. European Integration: the Euro crisis and the European Single Market
1. Anand, Gupta, Dash; 2. Marinello, Sapir, Terzi
Bloc 2. Inequalities, poverty, institutions and long term growth
1. Acemoglou; 2. Franzini and Pianta; 3. Sidiqui
Bloc 3. The costs and benefits of globalization: theoretical and empirical issues
1. Asso and 2. Rodrik;
Students may substitute the study of 1 paper + 1 open question (Sidiqui) with a class presentation of a paper on a specific topic. Please contact the teachers for further information

3. Syllabus of the course (I)
European crisis: the Euro and the Single Market (2 papers by Anand et al. + Sapir et al.)
EURO ( )
Origins of the Euro. Theory and politics
Discussions of pros and cons of the single currency
Main features of the Euro crisis
Possible ways out (euro exit, institutional reforms etc.)
The SINGLE MARKET PROCESS (1980s – today)
Theoretical reasons for a single market
Estimates of its impact + results of its implementation
Reasons for disappointment

4. Syllabus of the course (II)
2. Inequalities, poverty, institutions and growth (3 papers by Acemoglou, Franzini and Pianta, Sidiqui)
What world our grandchildren will inherit? (Acemoglou)
10 past trends of main aggregates (growth, trade, inequalities, integration, etc. - last 100 years)
What are the main engines of growth (economic and non- economic)
What is the role of institutions, politics, social phenomena?
Inclusive vs extractive institutions may explain the origin, diffusion and the future of economic fundamentals …
The making and relevance of inequalities (Franzini …)
Why inequality has become a burning issue
How to measure inequality
Some possible explanations
Inequalities in wealth and income

5. Syllabus of the course (III)
3. The economic theory of globalization (2 papers by Rodrik and Asso)
History of the the concept. Causes and main trends
Distinction #1: real globalization vs financial globalization
Distinction #2: Costs vs benefits of real and financial globalization
Some general introduction to the history of global institutions (Gatt, Wto)
The real burning issue: the disappointment of financial globalization
Policies to reduce the dangers of globalization (Tobin tax etc.)

6. Some other useful things to know before we start
What about the teacher?
Visit and use his blog:
What for?
Find some useful materials (papers, some slides, some previous tests etc.)
Put questions on previous lectures or other topics
Send your own answer to previous tests
Find useful info about the teacher and his (research) activities
What about the intermediate test?
yes! (if organized by the department). Devoted to the first part of the course
What about the final test?
one specific class at the end of the term devoted to disclose all the secrets about the final test
Other issues? Please write (on the blog)

7. Background knowledge Good knowledge of the language
Some knowledge of the basics of International Economics
Some knowledge of economic and European history
What about if you don’t have any? Preliminary readings – 1 extra class? Other suggestions?
Please, don’t be shy and ask your teacher …
Remember: the real issue at stake, the real challenge is to acquire a wider knowledge of how things go out there, rather than read and learn some slides …

8. Some general trends, recent years
GDP trends. GDP per capita
Trade
Unemployment
Inequalities

9. GDP trends, : Eu, US, G7

10. GDP (% world)
Fonte: World Economic Outlook Database, October 2013

11. GDP (% world)
Fonte: World Economic Outlook Database, October 2013

12. Collapse of trade

13. GDP per capita: Eu divergence vs non Eu convergence
Fonte: World Economic Outlook Database, October 20135

14. Unemployment rate (%)
Fonte: World Economic Outlook Database, October 20135

15. Unemployment rate during and after the crisis

16. The «happy few» in the global era

17. The most important graph in the world: the elephant graph

18. Inequalities and globalization
The biggest losers (other than the very poorest 5%), or at least the 'non-winners,' of globalization were those between the 45th and 90th percentiles of the global income distribution whose real income gains were essentially nil“.
"These people, who may be called a global middle class, include many from former Communist countries and Latin America, as well as those citizens of rich countries whose incomes stagnated.“
Moral of the graph: middle and working classes in developed countries languished