The course offers a comprehensive overview of the progress made by Europe towards a horizontal and vertical economic integration and provide the knowledge on monetary unions costs and benefits and the reconciliation of the objectives and instruments of the economic and financial policies of the member states and monetary unions. The course aims to analyze models that generate financial crises and public choices on the topics addressed in Treaties, Stability and Growth Pact and in their reforms, as well as those that dominate today's political and economic debate in Europe and in the world. The course is divided into two modules (each one is 4 CFU), linked to the purpose of examining, once the elimination of the commercial barriers has been implemented, the necessary elements for the definition of new rules, in the relation of economic policy between sovereign Member States of the European Union and between this Continent and the rest of the world.