Costs and benefits of monetary union -- Costs of a common currency -- Theory of optimum currency areas: a critique -- Benefits of a common currency -- Costs and benefits compared -- Monetary integration -- Incomplete monetary unions: the European monetary system -- Transition to a monetary union -- European central bank -- Fiscal policies in monetary unions

1. Monetary unions -- European Economic Community countries
2. Monetary policy -- European Economic community countries
3. European Monetary system (Organization)