Considers the way in which the European Union has affected autonomy in macroeconomic policy-making of the member states. It begins with an introduction to economic ideas, and explores current themes surrounding monetary and fiscal policy and European integration, including economic policy co-ordination, objectives in national policy-making and motivations for participating in the European Monetary System. Particular focus is given to the larger member states: * the United Kingdom * Germany * France * Italy. James Forderis at St Peter's College, Oxford University. Anand Menonis Lecturer in the Politics of European Integration at the Oxford University Centre for European Politics, Economics and Society.