Portuguese and European Economics Course Overview

Brexit disrupted the Digital Single Market (DSM) completion, because the UK's role, as a major contributor, was lost.

Brexit reduced Portuguese exports to the UK, increased trade costs, disrupted supply chains, and created investment uncertainty.

Automotive, food and beverage, tourism, and textiles and apparel industries were significantly affected by Brexit.

Portugal's competitiveness depends on economic policies, infrastructure, education, and innovation.

A European Union initiative for a unified digital economy.

Analyzes specific Portuguese industries showcasing strengths & weaknesses in competitiveness.

A key area to study Portuguese competitiveness.

A factor driving the competitiveness of a country.

The process of countries lowering trade barriers and coordinating economic policies to create a single market.

An agreement where countries remove tariffs on goods traded among themselves, but each maintains its own trade policies with non-member countries.

An agreement where countries eliminate tariffs on internal trade and have a single, common external trade policy.

Increased trade between countries after reducing trade barriers, leading to the production and consumption of more goods and services.

Shifting trade from a more efficient to a less efficient trading partner due to agreements or policies, potentially reducing overall efficiency.

The first step towards European integration, established in 1951 to pool coal and steel production to prevent future wars and foster economic cooperation.

The precursor to the European Union, established in 1957 with the aim of creating a single market and fostering economic integration.

The founding treaty of the European Economic Community (EEC) signed in 1957, laying the foundation for economic integration in Europe.

The process of adding new member countries to the European Union. This often leads to trade agreements, but can also create challenges like trade diversion.

A landmark case in EU law (1979) where the European Court of Justice ruled that products legally sold in one EU country could be sold in any other EU country. This helped remove trade barriers and promote the free movement of goods.

A case in the European Court of Justice (1979) that involved a German law restricting the import of fruit liqueurs. The court's ruling helped remove trade barriers and promote the free movement of goods within the European Union.

The highest court in the EU, known for interpreting EU law and ensuring its consistent application across member states. The ECJ played a key role in the 'Cassis de Dijon' case.

A political and economic union of 27 European countries. The EU aims to promote free trade, cooperation, and economic integration among its members.

One of the fundamental principles of the EU. This means that goods produced in one EU country can be freely traded in any other EU country without tariffs or other restrictions. The 'Cassis de Dijon' case significantly promoted this principle.

Obstacles that make it difficult for goods and services to cross national borders. These include tariffs, quotas, and regulations.

EU Enlargement often leads to new trade agreements between member countries, but it can also create challenges like trade diversion.

Trade diversion can lead to higher prices for consumers and reduced economic efficiency. This is because countries are no longer able to buy goods from the cheapest source.

A customs union where goods, services, capital, and people move freely within a region, eliminating barriers like tariffs and other restrictions. Businesses operate seamlessly across multiple countries without major obstacles.

Restrictions on international trade that aren't direct taxes or tariffs (like import duties). They can include technical standards, safety regulations, and bureaucratic procedures that make it difficult to import goods.

Examples of NTBs include technical standards for product design, safety and environmental regulations, and complex customs procedures. These regulations can be barriers to trade even if there are no tariffs.

A single market within the European Union, where goods, services, capital, and people move freely. NTBs are reduced, and there's a harmonized legal framework across member states.

A 1986 agreement that aimed to solidify the four freedoms of the European Community: free movement of goods, services, people, and capital, leading to the creation of the Single European Market. It introduced numerous reforms, like harmonized regulations, streamlined border procedures, standardized technical regulations, liberalized capital markets, and harmonized VAT.

The EU has established harmonized standards for items like toys, electrical equipment, and medical devices, meaning products must meet consistent requirements to be traded across all member states. This simplifies trading and eliminates the need for multiple national certifications.

The EU has created systems that recognize professional qualifications across member states. This allows professionals to work in their field without having to re-qualify in each new country, making the movement of skilled labor easier and more efficient.

The EU has harmonized laws in areas like environmental protection and consumer safety, creating a more level playing field for businesses and ensuring a consistent level of protection for consumers. This helps prevent companies from competing by reducing their environmental or consumer protection standards.

The European Union (EU) is a political and economic union of 27 European countries that promotes peace, stability, and economic prosperity among its members.

The Schuman Declaration, proposed in 1950, laid the foundation for the European Coal and Steel Community (ECSC). It aimed to prevent future wars by pooling resources and creating economic interdependence.

An EMU consists of a common market, customs union, and monetary union, where member countries share a single currency and coordinate their economic policies. The Eurozone is an example.

Signed in 1992, the Maastricht Treaty established the European Union, creating a single currency (the Euro), and establishing a common foreign and security policy.

The official currency of the Eurozone, a group of 19 EU member countries.

Signed in 1995, this agreement eliminated border controls between participating countries, allowing for free movement of people within the Schengen Area.

Brexit created challenges for the Digital Single Market (DSM) as the UK, a major player in its development, left the EU. This led to uncertainties and delays in its completion.

The exchange of goods and services between Portugal and other countries, including exports and imports.

The ability of Portuguese companies and industries to compete effectively in the global market, influenced by factors like economics, infrastructure, education, and innovation.

Analyzing specific industries in Portugal to understand their strengths and weaknesses in competing globally, identifying areas for improvement and growth.

Economic integration aims to create a larger, more integrated market where goods, services, and resources flow freely, fostering economic growth and prosperity for participating countries.

Increased trade between countries after reducing trade barriers, leading to the production and consumption of more goods and services.

Shifting trade from a more efficient to a less efficient trading partner due to agreements or policies, potentially reducing overall efficiency.

Trade diversion often results in higher prices for consumers and reduced economic efficiency.

A political and economic union of 27 European countries, promoting peace, stability, and economic prosperity among its members.

The Single European Market is a customs union within the EU where goods, services, capital, and people can move freely between member countries. It aims to eliminate barriers like tariffs and restrictions.

The Single European Act (1986) aimed to create the Single Market by solidifying the 'four freedoms': the free movement of goods, services, people, and capital. It also introduced reforms like harmonized rules, streamlined border procedures, and a common currency.

Non-Tariff Barriers (NTBs) are obstacles to international trade that don't involve tariffs. They include things like technical standards for products, safety regulations, and complicated customs procedures.

This landmark case (1979) established that products legally sold in one EU country can be sold in any other EU country. It helped remove trade barriers and create a truly single market.

The European Court of Justice (ECJ) is the highest court in the EU. It interprets EU law and makes sure it's applied consistently across member states. It played a vital role in the Cassis de Dijon case.

Proposed in 1950, the Schuman Declaration laid the groundwork for the European Coal and Steel Community (ECSC), the first step towards European integration. It aimed to prevent future wars by pooling resources like coal and steel.

The European Coal and Steel Community, established in 1951, laid the groundwork for economic integration in Europe by creating interdependence between countries through shared resources.

An EMU is a trade bloc where member countries use a single currency and coordinate their economic policies. It's a way to promote economic stability and integration.

The Maastricht Treaty, signed in 1992, created the European Union (EU) as we know it today. It introduced the Euro, a common currency, and set up a common foreign and security policy.

The Euro is the official currency used by 19 countries in the Eurozone, a group of EU members. It's a symbol of the EU's economic integration.

The Schengen Agreement, signed in 1995, eliminated border controls between participating countries, allowing people to move freely without passports within the Schengen Area.

The EU's Single Market allows goods, services, people, and money to move freely within its member countries, eliminating barriers like tariffs and making it easier to trade.

This case, decided by the European Court of Justice in 1979, ruled that products legally marketed in one EU country can be sold in all others. It helped remove trade barriers and promote the free movement of goods.

Established in 1951, the ECSC pooled coal and steel production to prevent future wars and foster economic cooperation. It was the first step towards creating the European Union.

This treaty, signed in 1957, established the European Economic Community (EEC), the precursor to the EU. It laid the foundation for economic integration among European countries.