The european union is the second largest economy in the world in nominal terms after the united states and according to purchasing power parity or ppp after chinathe european unions gdp was estimated to be 188 trillion nominal in 2018 representing 22 of global economy nominal global gdp. Note citations are based on reference standards however formatting rules can vary widely between applications and fields of interest or study the specific requirements or preferences of your reviewing publisher classroom teacher institution or organization should be applied . Find out about the economy of the european union data table and charts about the eu gross domestic product trade employment gender pay gap renewable energy sources and how consumers make use of online shopping and transport. The book we are discussing in this essay is called the european union economics policy and history by susan senior nello this book takes into account the different disciplines of economics policy making and therefore including a great deal of politics and the history of the institution of the european union as we know it today. The economic and monetary union emu is an umbrella term for the group of policies aimed at converging the economies of member states of the european union at three stages the policies cover the 19 eurozone states as well as non euro european union states each stage of the emu consists of progressively closer economic integration
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