Course: Monetary Sovereignty and Euro

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Course title Monetary Sovereignty and Euro
Course code KFP/AMSE
Organizational form of instruction Lecture + Tutorial
Level of course Master
Year of study not specified
Semester Summer
Number of ECTS credits 4
Language of instruction English
Status of course Compulsory-optional, Optional
Form of instruction Face-to-face
Work placements This is not an internship
Recommended optional programme components None
Course availability The course is available to visiting students
  • Bárková Dana, Ing. Mgr. Ph.D.
Course content
1. Monetary sovereignty as a part of the state sovereignty. 2. Monetary integration as a step towards full integration, optimum currency area. Earlier attempts to reach monetary integration (19th century - World War II) 3. The development of monetary integration after the World War II. (Bretton Woods agreement) 4. The fall of Bretton-Woods system, the beginning of European monetary integration (EAU). The Barre plan, gradual growth of monetary exchange mechanisms of European countries in 1960s 5. The attempt to create European monetary union in 1970 (Werner report), reasons, why the system failed. 6. European monetary system in 1980s, ECU and its functions. 7. Steps leading to the euro in 1990s, covergence criteria 8. Euro as a common currency. Legal foundations of EMU. 9. European Central Bank as an important institution of EU. European System of Central Banks 10. Consequences of introduction of common currency for legal system of EU member countries and EU common policies, for EU stock exchanges, for countries not participating in EMU (both inside and outside of EU) 11. Perspectives of EMU with respect to EU enlargement 12. The Czech Republic and EMU

Learning activities and teaching methods
Lecture supplemented with a discussion, Instruction based on dialogue, Students' portfolio, Seminar
  • Contact hours - 26 hours per semester
  • Presentation preparation (report in a foreign language) (10-15) - 28 hours per semester
  • Preparation for an examination (30-60) - 50 hours per semester
professional knowledge
know fundamentals of economics
be familiar with basics of European economic integration
professional skills
working knowledge of English (B1)
general eligibility
learning outcomes
professional knowledge
describe the main stages of monetary policy harmonisation and unification both in EU and worldwide
explain conditions for success of functioning of a monetary union (theory of optimum currency areas)
compare the situation of particulars groups of EU Member States (states within euro area and outside it, new member states...) as to the introduction of common currency
summarise the causes and consequences of monetary policy harmonisation and unification on macroeconomic policy
professional skills
relate introducing of common currency and monetary and capital market integration
evaluate pros and cons of common currency introduction in the Czech Republic
know English terminology in the subject area
prepare a presentation in English
assess the development of legislation (adequacy of applying a certain type of a legal norm) in particular stages of monetary integration development
general eligibility
teaching methods
professional knowledge
Lecture supplemented with a discussion
Students' portfolio
Instruction based on dialogue
assessment methods
Individual presentation at a seminar
Recommended literature
  • Bagus, Philipp. The Tragedy of the Euro.
  • Bagus, Philipp. Tragédie eura. Bratislava Jaga group, 2011. ISBN 978-80-8076-093-9.
  • Bárková, Dana. Euro - jednotná měna pro nejednotnou Evropu. Vyd. 1. Ostrava : Key Publishing, 2014. ISBN 978-80-7418-217-4.
  • Craig, Paul P.,; De Búrca, G. The evolution of EU law. 2nd ed. Oxford : Oxford University Press, 2011. ISBN 978-0-19-959296-8.
  • Garner, Bryan, A. Black´s Law Dictionary, Ninth Edition. West Publishing Co., St. Paul, Minn., 2009. ISBN 13: 978-091419950.
  • Le Docte, E. Čtyřjazyčný právnický slovník. Vyd 1. PrahaCodex, 1997. ISBN 80-85963-09-4.
  • Molle, Willem. The economics of European integration : theory, practice, policy. third edition. Ashgate : Aldershot, 1997. ISBN 1 84014 035 6.
  • Netušilová, Pavla; Křivka, Tomáš. Reforming the economic and monetary union. Vydání: první. 2015. ISBN 978-80-261-0597-8.
  • Smits R. The European Central Bank, Institutional Aspects. Kluwer Law International, 1997.
  • Tichý, Luboš. Čtyřjazyčný slovník práva Evropské unie = EU law glossary: english-czech-french-german : anglicko-česko-francouzsko-německý. Praha : Linde, 1999. ISBN 80-7201-151-0.

Study plans that include the course
Faculty Study plan (Version) Branch of study Category Recommended year of study Recommended semester
Faculty of Law Law (15) Law, legal and public administration proceeding - Summer
Faculty of Law Law (11) Law, legal and public administration proceeding - Summer
Faculty of Law Law (16) Law, legal and public administration proceeding - Summer
Faculty of Law Public Administration (16) Law, legal and public administration proceeding - Summer
Faculty of Law Law (13) Law, legal and public administration proceeding - Summer
Faculty of Law Law (17) Law, legal and public administration proceeding - Summer
Faculty of Law Law (14) Law, legal and public administration proceeding - Summer