1. Design of Course

2. Goal of the course
Considering regional integration in the broadest context of economic, political and social aspects, this course is first of all intended to ask about how internationalization transforms the relation between individuals and state.
Against this backdrop, this course then examines whether and how diverse regional monetary and financial arrangements in particular can supplement and replace nation-state, drawing lessons largely from European monetary integration process.

3. Part I: Commerce, Finance and Integration of World
I. Commercial World in the Greek and Roman Era
(1) Origin of Democracy
(2) Origin of State
II. Commerce and State in the Modern Western Civilization
(1) Commerce and Politics in Western World
(2) Commerce and Politics in Asia
III. Social Questions and the Rising State Role
IV. Economy beyond State: Commerce and Globalization
(1) Liberalism against nationalism and protectionism
(2) Inadequacy of nation state and global economy
V. Finance and Globalized World
(1) Gold Standard System as a Natural Global System
(2) Nationalization of Finance and BW System

4. Part II: Finance and Regionalization
I. Commerce and Regional Integration
II. Financial Globalization and Regionalization
Implication of Impossible Trinity Theorem
III. Cost and Benefit of Regional Monetary Integration
OCA
Barro-Gorden Model
Seignorage
IV. European Monetary Integration, Crisis and Challenge
(1) History of EMU
(2) EMS and EMU
(3) Crisis of Euro
(4) Future of Europe and Brexit
V. Regional Monetary Cooperation in Asia and Other Regions

5. Grading Mid Exam 50% Final Exam 50%
Attendance and Participation: a bonus of 10%

6. Required Readings
Aguilera-Barchet, Bruno (2011), A History of Western Public Law: between Nation and State
Eichengreen (1996), Globalizing the capital, Princeton Univ. Press
De Grauwe, Economics of European Monetary Integration, Oxford Univ. Press,
Additional papers and handouts will be distributed in the class.