Do­ing Busi­ness in Europe

Course content

The principal aims of this course are twofold: to introduce students to the European Union (EU) and Single European Market (SEM) as a framework for conducting business in Europe; and at the national level, to examine diversity between European states in the institutions and policies that frame economic activity. Accordingly, the course plan divides into two parts, with the bulk of content and teaching devoted to the EU and SEM.

In recent decades, Europe has undergone a process of market integration and harmonization in economic governance and the regulation of business. The first part of this course thereby introduces students to the institutions and policies of the European Union. The course gives an overview of the historical development of postwar integration in Europe to the present day, as well as the functions and practices of the key institutions of the EU: the European Council, European Commission, European Parliament, and Court of Justice. The course also covers some of the key EU policy areas relevant to business: Firstly, the EU as a customs union and as an external trade partner, including trade agreements such as the EU-Japan Economic Partnership Agreement of 2019, and the proposed EU-China Comprehensive Agreement on Investment. Second, the four freedoms of the SEM, comprising the mobility of goods, services, capital and labour. Third, the monetary and fiscal framework of European Monetary Union (EMU) herein the adoption of a single currency. In addition, other norms and arrangements pertaining to the internal market such as competition policy, and environmental policy with a focus on the European Green Deal and the EU Emissions Trading Scheme.

By studying the external trade policy of the EU as well as conditions pertaining to the SEM, students gain knowledge of the terms of access to the European market as well as the standards and norms relevant to doing business across borders in Europe. Students also learn to reflect upon economic, political, social and ethical implications, developing critical awareness of policy-making in the EU. 

Despite the marked progress of regional integration in Europe and comprehensive initiatives of the EU to harmonize economic governance and the regulation of business, there exists significant diversity between European states in the institutions and policies that frame economic activity. The latter part of this course thereby briefly surveys the nature and content of such institutional diversity between European states, such as Denmark, Germany, France, and the UK. For example, the institutions and policies of macroeconomic governance, labour market regulation and welfare policies.

This course provides some of the knowledge needed by companies, NGOs and government agencies engaged in cross-border business or in developing policy positions pertaining to standards applied in European markets. The course also introduces students to theories of regional integration, as well as theory relating specific policy areas.