EBF - Fagbegreber, Forkortelser, Fill in The Blank og Quiz

The single _X_ _X_ programme, launched in 1986, aimed to remove non-_X_ barriers to trade.

The single European Market programme, launched in 1986, aimed to remove non-trade barriers to trade.

_X_ _X_ economy (CPE) puts particular emphasis on which interests lie behind European integration.

Critical Political economy (CPE) puts particular emphasis on which interests lie behind European integration.

Cartels

A cartel is an association of companies with the purpose of maintaining prices at a certain level (often higher) and restricting competition.

The EU's common external trade policy towards non-members derives from the fact that the EU is:

A customs union

The EU is:

A customs union and A Free Trade Area

The EU is:

A customs union and A single market

A key concept of CPE is _X_, which proposes that ideas or theories (e.g. neo-functionalism, liberal intergovernmentalism) serve to legitimize rather than explain European integration.

A key concept of CPE is hegemony, which proposes that ideas or theories (e.g. neo-functionalism, liberal intergovernmentalism) serve to legitimize rather than explain European integration.

Most issues involving the EU's common commercial policy are voted on in the Council of Ministers by using:

A qualified majority vote

In policy areas in the EU where there is intergovernmental cooperation, decisions in the Council of the European Union (Council of Ministers) are taken on the basis of:

A unanimous vote by member states

Abuse of dominant position

Abuse a dominant position on a market to set high prices (Usually less than 40% is defined as a not dominant position)

According to social _X_, the interests of the public and member states can only be subjectively understood.

According to social constructivism, the interests of the public and member states can only be subjectively understood.

Precautionary Principle:

Advocates for caution in the face of uncertainty regarding potential ecological harm. If an action or policy might cause harm to the public or the environment, in the absence of scientific consensus, the burden of proof falls on those advocating the action.

Opt-out

An opt-out is a provision that allows a member state of an international organization or agreement to exempt itself from certain rules, policies, or obligations that other members are bound by.

Uncompetitive practices

Anticompetitive practices include activities like price fixing, group boycotts, and exclusionary exclusive dealing contracts or trade association rule

Main Arguments for Eurozone:

Benefits include: Price Stability: The euro reduces inflationary pressures and currency risk. Enhanced Trade: Simplified trade within the currency union. Global Influence: A stronger economic bloc in global affairs.

By contrast, the theory of liberal _X_ assumes that member states control the process of integration.

By contrast, the theory of liberal intergovernmentalism assumes that member states control the process of integration.

By contrast, where member states retain the veto, it is known as _X_ cooperation.

By contrast, where member states retain the veto, it is known as intergovernmental cooperation.

Main Problems with Eurozone:

Challenges include: Lack of Fiscal Integration: Member states retain control over their own fiscal policies, which can lead to economic imbalances. Divergent Economic Performances: Different member states experience different growth rates, making it challenging to implement a one-size-fits-all monetary policy. Sovereign Debt Crises: Some member states have faced debt crises, requiring bailouts and causing instability.

Competition policy

Competition policies are policies that seek to ensure that competition is not disrupted in the internal market (safeguarding the functioning of the signal market).

Differentiated integration

Differentiated integration in the EU allows some member states to deepen cooperation in specific areas at a faster pace than others, recognizing that not all countries share the same level of commitment to closer integration across all policy domains. It promotes flexibility and diversity within the EU framework.

DSA:

Digital Single Act

DSM:

Digital Single Market

EMU:

Economic and Monetary Union

Enlargement fatigue

Enlargement fatigue is a term used to describe a decreased willingness or reluctance among existing members of an international organization, such as the European Union, to admit new member states due to concerns about the challenges and potential complications associated with expansion.

Enlargement

Enlargement, in the context of the European Union (EU), refers to the process of adding new member states to the EU. It involves candidate countries meeting certain criteria and negotiating their accession to become full EU members.

Other Solutions: 'Euro-Keynesianism', Fiscal Integration, etc.:

Euro-Keynesianism: Proposes coordinated fiscal stimulus during recessions to avoid austerity measures and support economic recovery. Fiscal Integration: Advocates for greater coordination of fiscal policies, potentially involving a shared budget or debt issuance to address economic challenges collectively.

Euratom:

European Atomic Energy Community

EBA:

European Banking Authority

ECB:

European Central Bank

ECSC:

European Coal and Steel Community

ECHR:

European Convention of Human Rights

EDC:

European Defence Community

EEC:

European Economic Community

EESC:

European Economic and Social Committee

EFTA:

European Free Trade Association

EPA:

European Parliamentary Assembly

EPC:

European Political Community

In the EEC, the largest part of the budget was devoted to the _X_ _X_ Policy.

In the EEC, the largest part of the budget was devoted to the Common agricultural Policy.

Fiscal Policy

Fiscal policy refers to the government's use of its taxing and spending powers to influence the economy. It includes: Expansionary Fiscal Policy: During a recession, governments may increase public spending on infrastructure, unemployment benefits, or other programs to boost demand and create jobs. Contractionary Fiscal Policy: In times of high inflation or economic overheating, governments may reduce public spending and increase taxes to cool down the economy.

The Four Freedoms

Free Movement of Goods: Elimination of customs duties and quantitative restrictions on goods traded between member states. Free Movement of Services: Removal of barriers to the provision of services across borders, allowing service providers to operate more freely within the single market. Free Movement of Capital: Facilitation of cross-border investment and capital flows. Free Movement of Labor (Persons): Citizens of EU member states have the right to live and work in any other member state, promoting the mobility of labor within the EU

The EU:

Has a Common Foreign and Security Policy on the basis of intergovernmentalism and Has a Common Foreign and Security Policy but member states retain the veto.

However, multi-level _X_ assumes that authority is _X_ across different levels of governance.

However, multi-level governance assumes that authority is dispersed across different levels of governance.

In the postwar period, theory adopted by those aiming for a peaceful, unified Europe: _X_.

In the postwar period, theory adopted by those aiming for a peaceful, unified Europe: federalism.

Internalization & Polluter-Pays Principle:

Internalization: Involves incorporating the environmental costs of a product or activity into its price. Polluter-Pays Principle: Holds that the party responsible for pollution should bear the costs of managing it. This principle encourages businesses to internalize environmental costs.

The 'Pricing' of Emissions (& the Natural World):

Involves assigning a monetary value to emissions or natural resources. This can be done through mechanisms like carbon pricing, which puts a cost on emitting carbon dioxide.

Key principle of the World Trade Organization, meaning non-discrimination: _X_ _X_ _X_ principle. (2)

Key principle of the World Trade Organization, meaning non-discrimination: most favored nation principle. (2)

Keynesian Response to a Recession:

Keynesian economics suggests that during a recession, the government should take active steps to stimulate the economy, including: Government Spending: Increasing public investments in infrastructure, education, and healthcare. Tax Cuts: Reducing taxes to put more money in the hands of consumers and businesses. Counter-Cyclical Policies: Implementing policies that run counter to the economic cycle, such as deficit spending during downturns.

Liberal intergovernmentalism

Liberal intergovernmentalism is another theory of European integration. It emphasizes the role of nation-states and their interests in shaping the integration process. According to this theory, integration occurs when nation-states voluntarily cooperate to achieve common goals, primarily in areas where cooperation is economically beneficial. It contrasts with neo-functionalism by emphasizing the intergovernmental negotiation process over supranational institutions.

Preventative Principle:

Like the precautionary principle, it emphasizes taking preventive action to avoid environmental damage, even if the cause-and-effect relationships are not fully established.

Many critics of the EU claim that its institutions suffer from a _X_ deficit.

Many critics of the EU claim that its institutions suffer from a democratic deficit.

MCR:

Merger Control Regulations

Merger Controls

Merger control refers to the procedure of reviewing mergers and acquisitions under antitrust / competition law to prohibit industri monopoly

NCA:

National Competition Authorities

Government procurement, restrictions on services, and health and safety rules are examples of:

Non-tariff barriers to trade and The 'modern trade agenda'

Monopoly

Only one company in the market

Organization established in 1951 under the Treaty of Paris to regulate production and trade in essential "war industries": European _X_ and _X_ Community.

Organization established in 1951 under the Treaty of Paris to regulate production and trade in essential "war industries": European Coal and Steal Community.

Orthodox (Neo-classical) View of Markets vs. Market Failure & Externalities:

Orthodox view: Believes that free markets lead to efficiency and prosperity. Market failure: Recognizes that sometimes markets do not allocate resources efficiently, especially regarding environmental issues. Externalities: Refers to the unintended side effects of economic activities that affect third parties, like pollution. Market failure can occur when these externalities are not considered.

What is the titel of the following individuals: Margrethe Vestager, Ursula von der Leyen, Charles Michel, Josep Borrell

President of the European Council - Charles Michel European Commissioner for Competition Policy - Margrethe Vestager President of the European Commission - Ursula von der Leyen High Representative for Foreign Affairs - Josep Borrell

Property Rights & 'Offsetting':

Property rights: Define the ownership and use of resources. Clear property rights can incentivize responsible environmental stewardship. Offsetting: Involves compensating for one's own environmental impact by investing in projects that reduce or absorb an equivalent amount of greenhouse gasses or other environmental harm.

SM:

Single Market

Supranationalism

Supranationalism refers to a level of authority and decision-making that exists above and beyond the nation-state. Supranationalism means that EU institutions, such as the European Commission and the European Parliament, have authority and powers that go beyond those of individual member states. These institutions can make decisions that are binding on member states.

Supranationalism v. Intergovernmentalism

Supranationalism transfers power to a higher entity (like the EU), while intergovernmentalism maintains the authority of individual states, relying on treaties and agreements (like the UN).

Treaty of Rome

The Treaty of Rome, signed in 1957, established the European Economic Community (EEC), which later became part of the European Union (EU). It aimed to create a common market among its member states, promoting economic integration and cooperation.

Democratic deficit & "Legitimacy deficit":

The "democratic deficit" refers to a perceived lack of democratic accountability and transparency in the decision-making processes of supranational institutions like the EU. Critics argue that these institutions are not directly elected by citizens, leading to a deficit in democratic representation. The "legitimacy deficit" is related but broader. It questions the overall legitimacy of supranational institutions and the EU's decision-making processes. It includes concerns about accountability, transparency, and whether EU institutions are seen as legitimate by the public.

Copenhagen criteria

The Copenhagen criteria are a set of conditions that candidate countries must meet to join the European Union (EU). These criteria include having stable institutions that guarantee democracy, rule of law, human rights, and protection of minorities, as well as a functioning market economy and the ability to adopt and implement EU laws and regulations.

The following is traditionally described as a main decision-making body with a legislative role, as opposed to the main initiator of proposals in the EU:

The Council of the European Union (or Council of Ministers)

CJEU:

The Court of Justice of the European Union

The EEC was a _X_ _X_ and therefore it was not a free _X_ area.

The EEC was a Customs Union and therefore it was not a free trade area.

The EEC was widened in 1973 to incorporate the United _X_, _X_, and the Republic of _X_.

The EEC was widened in 1973 to incorporate the United Kingdom, Denmark, and the Republic of Ireland.

Regarding competence over policy-making:

The EU has exclusive competence over external trade policy

The EU has formed Economic Partnership Agreements with ACP countries. ACP stands for _X_, Caribbean and _X_.

The EU has formed Economic Partnership Agreements with ACP countries. ACP stands for African, Caribbean and Pacific.

EU Responses to Crisis in Eurozone:

The EU has implemented measures to address Eurozone crisis, such as: Ad Hoc Loans: Providing financial assistance packages to struggling member states through institutions like the EFSF and ESM. The Fiscal Compact: An intergovernmental agreement that reinforces fiscal discipline and coordination among member states. The Banking Union: Creating a single system to supervise and resolve banking issues to enhance financial stability.

The EU has signed a number of _X_ _X_ agreements, including those with Korea, Peru, _X_, and _X_.

The EU has signed a number of Free trade agreements, including those with Korea, Peru, Canada, and Japan. (3)

What is the Economic and Monetary Union (EMU)?

The Economic and Monetary Union (EMU) is a major component of the European Union (EU) that involves the coordination and integration of economic and monetary policies among member states. The primary goal of the EMU is to establish a common economic framework and a single currency, the euro (€), for participating countries.

CoR:

The European Committee of the Regions

The _X_ _X_ regular meetings from 1974 but, formally, only became an EU institution in 2009.

The European Council regular meetings from 1974 but, formally, only became an EU institution in 2009.

The European Economic Community (EEC) was created in 1957 under the Treaty of _X_. It established a _X_ market among the original six members, meaning there would be free movement of _X_ and people.

The European Economic Community (EEC) was created in 1957 under the Treaty of Rome. It established a common market among the original six members, meaning there would be free movement of goods and people.

The European _X_ policy encourage trade and enhanced security with nearby countries that are not being considered for EU membership. _X_ agreements are reached with countries that are being considered for EU membership.

The European Neighbourhood policy encourage trade and enhanced security with nearby countries that are not being considered for EU membership. Association agreements are reached with countries that are being considered for EU membership. (2)

In most policy areas where sovereignty is pooled by members states:

The European Parliament must pass laws and The European Commission is able to initiate laws.

What is the European Union

The European Union (EU) is a political and economic union of member states located primarily in Europe. It is a unique supranational organization that was established with the goal of promoting economic cooperation, political stability, and integration among its member countries

GBER:

The General Block Exemption Regulation

Acquis communautaire

The acquis communautaire refers to the body of EU laws, rules, and regulations that all candidate countries must adopt and implement in order to join the European Union. It encompasses everything from legislation and policies to standards and practices established within the EU, ensuring that new members align their legal systems and policies with those of the EU.

The case for free trade is supported by the theory of _X_ _X_. Free trade will encourage nations to _X_ in production. (2) Critics of free trade stress that it is important for nations to _X_ production. Critics also fear a _X_-_X_-_X_-_X_ in social and environmental standards. (2) _X_ traders hold the view that restrictions on trade are needed in key industries where there are high _X_ to entry. (2)

The case for free trade is supported by the theory of comparative advantage. Free trade will encourage nations to specialisation in production. (2) Critics of free trade stress that it is important for nations to diversificated production. Critics also fear a race-to-the-buttom in social and environmental standards. (2) Strategic traders hold the view that restrictions on trade are needed in key industries where there are high barriers to entry. (2)

Balance of Payments on Current Account:

The current account of the balance of payments is divided into several components: Balance of Trade: It reflects the difference between a country's exports (goods and services sold abroad) and imports (goods and services purchased from abroad). Income from Abroad: This includes earnings from foreign investments and factors of production (e.g., profits, dividends). Net Transfers: These are transfers of money between countries, such as foreign aid or remittances from migrants.

In the EU:

There is a common external trade policy

Ecological Modernization:

This concept suggests that economic growth and environmental protection can go hand in hand through technological innovation and efficiency. It's about adapting industry and technology to be more environmentally friendly.

This principle was undermined by the Maastricht Treaty (1992) and the use of _X_-_X_ by Denmark and the UK.

This principle was undermined by the Maastricht Treaty (1992) and the use of opt-outs by Denmark and the UK.

TEU:

Treaty of the European Union

Unanimous voting vs. qualified majority voting

Unanimous voting requires every member to agree for a decision to pass, while qualified majority voting allows decisions to pass if a predefined majority of members support it, even if some disagree.

VBER:

Vertical Block Exemption Regulation

WEU:

Western European Union

Where member states have ceded sovereignty to the EU, and voting in the Council of Ministers takes place by a qualified majority, this is known as _X_ governance.

Where member states have ceded sovereignty to the EU, and voting in the Council of Ministers takes place by a qualified majority, this is known as supranational governance.

While the EU has taken major steps towards liberalizing trade with the rest of the world, it also uses protectionist instruments such as _X_-_X_ (_X_) measures and voluntary _X_ _X_ agreements. (2)

While the EU has taken major steps towards liberalizing trade with the rest of the world, it also uses protectionist instruments such as anti-dumping (dumpling) measures and voluntary export restraint agreements. (2)

Concept that captures how European integration changes the domestic politics of member states: _X_.

Concept that captures how European integration changes the domestic politics of member states: Europeanization.

Deepening and widening

Deepening and widening are two key dynamics in the European Union (EU): Deepening: This refers to the process of further integration among EU member states. It involves strengthening cooperation and harmonizing policies in various areas, such as economic and monetary union, foreign policy, and defense. Deepening often involves creating new EU institutions and enhancing the powers of existing ones, as well as adopting common regulations and standards. Widening: Widening, on the other hand, refers to the expansion of the EU by adding new member states. It involves the accession of new countries that meet the criteria for EU membership. Widening aims to increase the EU's geographical coverage and influence by bringing in new nations into the union.

Monetary Policy:

Monetary policy is primarily conducted by a central bank and involves managing the money supply and interest rates to achieve economic goals: Interest Rates: Central banks can raise or lower interest rates to encourage or discourage borrowing and spending. Open Market Operations: Central banks can buy or sell government securities (obligations) to influence the money supply and interest rates.

Multi-level governance

Multi-level governance refers to a system of governance where authority and decision-making are dispersed across multiple levels of government. This includes local, regional, national, and supranational levels. In the EU, multi-level governance recognizes that decisions are made not only by the central EU institutions but also by regional and local governments, creating a complex web of governance structures.

Neo-Classical Response to a Recession:

Neo-classical economics emphasizes the importance of free markets and limited government intervention. A neo-classical response to a recession typically involves: Laissez-faire: Minimal government interference in markets. Market Self-Correction: Belief that markets will naturally adjust to economic downturns without the need for government stimulus.

Neo-functionalism

Neo-functionalism is a theory in the field of European integration and international relations. It suggests that integration in one area of policy within a group of countries (such as the European Union) leads to increased cooperation and integration in other policy areas. In essence, success in one area spills over into others, creating a "spillover" effect. Neo-functionalism emphasizes the role of supranational institutions, like the European Commission, in driving integration.

Neo-_X_ is a theory which assumes that cross-border linkages between _X_ groups will further the process of regional integration. Moreover, supranational bodies acquire ever more authority via a process of _X_.

Neo-functionalism is a theory which assumes that cross-border linkages between interest groups will further the process of regional integration. Moreover, supranational bodies acquire ever more authority via a process of spillover.

Neoclassical vs. Keynesian Economic Theory

Neoclassical economic theory is based on the assumption that markets are efficient and that individuals make rational decisions. It emphasizes the importance of free markets and limited government intervention. Neoclassical economists believe that the economy will automatically adjust to changes in supply and demand, and that the best way to promote economic growth is to reduce taxes and regulations. Keynesian economic theory is based on the assumption that markets are not always efficient and that individuals do not always make rational decisions. Keynesian economists believe that government intervention is necessary to stabilize the economy and promote economic growth. They advocate for fiscal and monetary policies to stimulate the economy during recessions and to cool it down during periods of inflation.

NATO:

North Atlantic Treaty Organization

Oligopoly

Only a couple of companies in the market

The Eurozone:

The Eurozone is a group of 19 European Union (EU) member states that have adopted the euro (€) as their common currency. It promotes economic integration by: Monetary Union: Sharing a single currency. Exchange Rate Stability: Eliminating currency exchange rate fluctuations within the Eurozone.

GDPR:

The General Data Protection Regulation

Single Market

The Single Market, also known as the European Single Market, is a trade agreement within the European Union (EU) that allows for the free movement of goods, services, capital, and people among EU member states. It eliminates trade barriers, such as tariffs and regulatory differences, to create a seamless and integrated economic area.

The principle of '_X_ _X_' relates to the entire, accumulated body of laws and provisions which membership of the EU entails.

The principle of 'Acquis Communautaire' relates to the entire, accumulated body of laws and provisions which membership of the EU entails.