1. Optimal currency area theory - definition of optimal currency area, classical theory of optimal currency area, new Mundell model of optimal currency area, development of theory of optimum currency area.
2. Cost Analysis of Monetary Union - Inflation vs. Unemployment, institutional differences in labor markets, differences in economic growth dynamics, differences in legal and financial systems, Balassa-Samuelson effect.
3. Common currency benefits - elimination of transaction costs, price transparency, elimination of exchange rate risk, growth of mutual trade and economic growth.
4. Costs and benefits of the common currency - comparison - endogenity of the monetary integration process, model GG-LL, marginalist approach to OCA and cost-benefit analysis, impact on wealth level
5. Asymmetric shocks in the monetary union - definitions and types of asymmetric shocks, alignment of business cycles, labor mobility, symmetric shocks with asymmetric impacts.
6. Historical Monetary Union - Germany-Austrian Monetary Union, Latin Monetary Union, Scandinavian Monetary Union, Belgian-Luxembourg Monetary Union, Czech-Slovak Monetary Union.
7. Current Monetary Union in the World - United Nations Union of South American Nations (UNASUR), East Caribbean Monetary Union, West African and Central African Monetary Union, Monetary Union of the CFP franc.
8. The most important de facto monetary union in the world - United States of America, Swiss franc, Russian ruble, Indian rupee.
9. The history of monetary integration in Europe - the Werner report - the snake in the tunnel, the European monetary system.
10. Implementation of a common European currency project - Delors report, Maastricht Treaty, convergence criteria, reasons for non-membership of Sweden, Denmark and the United Kingdom of Great Britain and Northern Ireland.
11. The European Central Bank (ECB) - the institutional framework of the European System of Central Banks (ESCB) and the ECB, the ECB's monetary policy strategy.
12. ECB Monetary Policy Instruments - the ECB's standard monetary policy instruments, the ECB's non-standard monetary and policy instruments.
13. Admission of new members to the European Monetary Union - the process of real and nominal convergence.
14. Position of the euro area in the world economy - economic comparison of the euro area with the US, comparison of the US dollar and the euro position in the international monetary system.
2. Cost Analysis of Monetary Union - Inflation vs. Unemployment, institutional differences in labor markets, differences in economic growth dynamics, differences in legal and financial systems, Balassa-Samuelson effect.
3. Common currency benefits - elimination of transaction costs, price transparency, elimination of exchange rate risk, growth of mutual trade and economic growth.
4. Costs and benefits of the common currency - comparison - endogenity of the monetary integration process, model GG-LL, marginalist approach to OCA and cost-benefit analysis, impact on wealth level
5. Asymmetric shocks in the monetary union - definitions and types of asymmetric shocks, alignment of business cycles, labor mobility, symmetric shocks with asymmetric impacts.
6. Historical Monetary Union - Germany-Austrian Monetary Union, Latin Monetary Union, Scandinavian Monetary Union, Belgian-Luxembourg Monetary Union, Czech-Slovak Monetary Union.
7. Current Monetary Union in the World - United Nations Union of South American Nations (UNASUR), East Caribbean Monetary Union, West African and Central African Monetary Union, Monetary Union of the CFP franc.
8. The most important de facto monetary union in the world - United States of America, Swiss franc, Russian ruble, Indian rupee.
9. The history of monetary integration in Europe - the Werner report - the snake in the tunnel, the European monetary system.
10. Implementation of a common European currency project - Delors report, Maastricht Treaty, convergence criteria, reasons for non-membership of Sweden, Denmark and the United Kingdom of Great Britain and Northern Ireland.
11. The European Central Bank (ECB) - the institutional framework of the European System of Central Banks (ESCB) and the ECB, the ECB's monetary policy strategy.
12. ECB Monetary Policy Instruments - the ECB's standard monetary policy instruments, the ECB's non-standard monetary and policy instruments.
13. Admission of new members to the European Monetary Union - the process of real and nominal convergence.
14. Position of the euro area in the world economy - economic comparison of the euro area with the US, comparison of the US dollar and the euro position in the international monetary system.