The European Central Bank

EENI- School of International Business

Subject: The European Central Bank (ECB) of the European Union. Syllabus:

  1. Introduction to the European Central Bank (European Union): the central bank of the world's second largest economy
  2. The European Central Bank and the Economic and Monetary Union (EMU)
  3. The Eurozone
  4. The Convergence criteria
  5. The Monetary stability and the European Central Bank
  6. Supervision of the European financial system
  7. Structure of the European Central Bank
  8. The roles of the European System of Central Banks (ESCB) and Eurosystem
  9. The independence of the European Central Bank
  10. The Single Payments Area in Euros
  11. The Europe 2020 strategy

The objectives of the subject “The European Central Bank (ECB)” are the following:

  1. To understand the role of the European Central Bank in the financial and monetary stability of the European Union
  2. To understand the EU's Economic and Monetary Union (EMU)
  3. To study the convergence criteria of the Eurozone
  4. To understand the importance of the Eurozone
  5. To analyse the implications for the Eurozone Countries
The subject “The European Central Bank” is studied...
  1. Doctorate: Europe
  2. Online Masters: European Union, International Business
  3. Courses: Introduction to the EU, EU Single Market

Languages of study English or Spanish Banco Central Europeo French EU Portuguese EU

Credits of the Subject “The European Central Bank”: 1 ECTS

Sample of the subject - The European Central Bank:
European Central Bank (ECB)

Description of the Subject - The European Central Bank (ECB)

The nineteen countries of the European Union that have adopted the Euro as common currency are part of the European Central Bank (ECB) whose main objective is to implement a policy of price stability in the Eurozone, seeking to maintain the purchasing power of the euro.

In 1999, the Eurozone and the European Central Bank were established by eleven EU countries (Germany, Austria, Belgium, Spain, Finland, France, Ireland, Italy, Luxembourg, the Netherlands and Portugal), transferring all their monetary policy powers to the European Central Bank.

Subsequently, the euro area has been expanding:

  1. 2001: Greece
  2. 2007: Slovenia
  3. 2008: Cyprus and Malta
  4. 2009: Slovakia
  5. 2011: Estonia
  6. 2014: Latvia
  7. 2015: Lithuania

Except for Denmark and the United Kingdom (BREXIT), they have an obligation to adopt the Euro in compliance with the so-called convergence criteria of the European Union.

  1. The EU countries that have not yet adopted the Euro are Bulgaria, Croatia, Hungary, Poland, the Czech Republic, Romania and Sweden
  2. The European Central Bank is the only institution that can authorise the issuance of euro banknote
  3. The headquarters of the European Central Bank is in Frankfurt (Germany, Europe). Its president is Mario Draghi

All the central banks of the countries that have adopted the euro form the so-called Eurosystem. The European Central Bank (ECB) is the key institution of the European Union's Eurosystem and the Single Supervisory Mechanism (control of the EU credit institutions).

The main body of the European Central Bank is the Governing Council, made up of six members of the Executive Committee and the directors of the nineteen central banks of the Eurozone. Its main mission is to design the monetary policy of the Eurozone, as well as banking supervision.

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