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Lecture 1

GMS 693 Lecture Notes - Lecture 1: Government Debt, Middle Power, Marshall Plan

Global Management Studies
Course Code
GMS 693
Michael Manjuris

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Module #1
1. Familiarize themselves with course requirements
2. Identify how to communicate with the instructor online
3. List all the members of the European Union
4. Recognize key geographic features of European geography
5. Understand key historical events and treaties that formed the basis for cooperation between
European nations
Big 3: France, Germany, UK
Middle power: Italy, Austria, Benelux countries (Luxembourg, Netherland, Beligum)
-They have advantages to factors of production or markets for products made by the big 3.
PIIGS – European nations that holds the most amount of sovereign debt and thus influence the issue of
whether euro currency will survive the debt crisis or if European nation will return to their old currencies to
protect wealth.
After World War 2’s destruction
-Europe began rebuilding with the aid program known as the Marshall Plan.
Based on series of treaties and mutual need and trust.
This led in 1947, to a Frenchman known as Jean Monnet to envision Europe as an integrated
federation of political and economic cooperation.
Europe’s mild climate are due to two factors: prevailing westerly winds and the North Atlantic Drift
ocean current.
Treaty of Paris 1951
-The first agreement on trade within Europe after WW2.
-Also marked the beginning of a desire by European countries to integrate their efforts to bring
together the continent as one entity.
-Signed between France, West Germany, Italty and the three Benelux countries.
oEstablished the European Coal and Steel community(ECSC)
Expired after 50 years. (23 July 2002)
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