A central bank, reserve bank, or monetary authority is an institution that manages the currency and monetary policy of a country or monetary union. In contrast to a commercial bank, a central bank possesses a monopoly on increasing the monetary base. Many central banks also have supervisory or regulatory powers to ensure the stability of commercial banks in their jurisdiction, to prevent bank runs, and in some cases also to enforce policies on financial consumer protection and against bank fraud, money laundering, or terrorism financing.
The Treaty on European Union, commonly known as the Maastricht Treaty, is the foundation treaty of the European Union (EU). Concluded in 1992 between the then-twelve member states of the European Communities, it announced "a new stage in the process of European integration" chiefly in provisions for a shared European citizenship, for the eventual introduction of a single currency, and for common foreign and security policies. Although these were widely seen to presage a "federal Europe", the focus of constitutional debate shifted to the later 2007 Treaty of Lisbon. In the wake of the Eurozone debt crisis unfolding from 2009, the most enduring reference to the Maastricht Treaty has been to the rules of compliance – the "Maastricht criteria" – for the currency union.
A nation is a large type of social organization where a collective identity has emerged from a combination of shared features across a given population, such as language, history, ethnicity, culture, territory or society. Some nations are constructed around ethnicity while others are bound by political constitutions.
Globalization, or globalisation, is the process of interaction and integration among people, companies, and governments worldwide. The term globalization first appeared in the early 20th century, developed its current meaning sometime in the second half of the 20th century, and came into popular use in the 1990s to describe the unprecedented international connectivity of the post-Cold War world. Its origins can be traced back to 18th and 19th centuries due to advances in transportation and communications technology. This increase in global interactions has caused a growth in international trade and the exchange of ideas, beliefs, and culture. Globalization is primarily an economic process of interaction and integration that is associated with social and cultural aspects. However, disputes and international diplomacy are also large parts of the history of globalization, and of modern globalization.
International relations theory is the study of international relations (IR) from a theoretical perspective. It seeks to explain behaviors and outcomes in international politics. The four most prominent schools of thought are realism, liberalism, constructivism, and rational choice. Whereas realism and liberalism make broad and specific predictions about international relations, constructivism and rational choice are methodological approaches that focus on certain types of social explanation for phenomena.
New institutionalism is an approach to the study of institutions that focuses on the constraining and enabling effects of formal and informal rules on the behavior of individuals and groups. New institutionalism traditionally encompasses three major strands: sociological institutionalism, rational choice institutionalism, and historical institutionalism. New institutionalism originated in work by sociologist John Meyer published in 1977.
International political economy (IPE) is the study of how politics shapes the global economy and how the global economy shapes politics. A key focus in IPE is on the distributive consequences of global economic exchange. It has been described as the study of "the political battle between the winners and losers of global economic exchange."
Governance is the process of making and enforcing decisions within an organization or society. It encompasses decision-making, rule-setting, and enforcement mechanisms to guide the functioning of an organization or society. Effective governance is essential for maintaining order, achieving objectives, and addressing the needs of the community or members within the organization. Furthermore, effective governance promotes transparency, fosters trust among stakeholders, and adapts to changing circumstances, ensuring the organization or society remains responsive and resilient in achieving its goals. It is the process of interactions through the laws, social norms, power or language as structured in communication of an organized society over a social system. It is done by the government of a state, by a market, or by a network. It is the process of choosing the right course among the actors involved in a collective problem that leads to the creation, reinforcement, or reproduction of acceptable conduct and social order". In lay terms, it could be described as the processes that exist in and between formal institutions.
A superstate is defined as "a large and powerful state formed when several smaller countries unite", or "A large and powerful state formed from a federation or union of nations", or "a hybrid form of polity that combines features of ancient empires and modern states." This is distinct from the concept of superpower, although these are sometimes seen together.
Domestic policy is a type of public policy overseeing administrative decisions that are directly related to all issues and activity within a state's borders. It differs from foreign policy, which refers to the ways a government advances its interests in external politics. Domestic policy covers a wide range of areas, including business, education, energy, healthcare, law enforcement, money and taxes, natural resources, social welfare, and personal rights and freedoms.
National identity is a person's identity or sense of belonging to one or more states or one or more nations. It is the sense of "a nation as a cohesive whole, as represented by distinctive traditions, culture, and language". National identity may refer to the subjective feeling one shares with a group of people about a nation, regardless of one's legal citizenship status. National identity is viewed in psychological terms as "an awareness of difference", a "feeling and recognition of 'we' and 'they'". National identity also includes the general population and diaspora of multi-ethnic states and societies that have a shared sense of common identity identical to that of a nation while being made up of several component ethnic groups. Hyphenated ethnicities are an example of the confluence of multiple ethnic and national identities within a single person or entity.
Economic integration is the unification of economic policies between different states, through the partial or full abolition of tariff and non-tariff restrictions on trade.
Pan-European identity is the sense of personal identification with Europe, in a cultural or political sense. The concept is discussed in the context of European integration, historically in connection with hypothetical proposals, but since the formation of the European Union (EU) in the 1990s increasingly with regard to the project of ever-increasing federalisation of the EU. The model of a "pan-European" union is the Carolingian Empire, which first defined "Europe" as a cultural entity as the areas ruled by the Roman Catholic Church, later known as "Medieval Western Christendom". The original proposal for a Paneuropean Union was made in 1922 by Count Richard von Coudenhove-Kalergi, who defined the term "pan-European" as referring to this historical sense of the western and central parts of continental Europe encompassing the cultures that evolved from medieval Western Christendom instead of the modern geographic definition of the continent of Europe. Coudenhove-Kalergi saw the pan-European state as a future "fifth great power", in explicit opposition to the Soviet Union, "Asia", Great Britain and the United States.
In international relations (IR), constructivism is a social theory that asserts that significant aspects of international relations are shaped by ideational factors. The most important ideational factors are those that are collectively held; these collectively held beliefs construct the interests and identities of actors.
Transnational citizenship is a political concept which would redefine traditional notions of citizenship and replaces an individual's singular national loyalties with the ability to belong to multiple nation states, as made visible in the political, cultural, social and economic realms. Unlike national citizenship, where individuals interact in such capacities with one sovereign state, transnational citizenship transcends pre-established territorial boundaries in order to create a modern meaning of "belonging" in an increasingly globalized society. Additionally, while preconceived notions of citizenship are often divided between national, social and individual forms of identity, all three categories serve to contribute to the meaning of transnational citizenship. State citizenship can be defined as an individual establishing their sense of belonging by espousing to the liberal-democratic values of the state in the public sphere. When applied to transnational citizenship, an individual would have the opportunity to be civically engaged in multiple societies.
Karl Brunner was a Swiss economist.
Vivien A. Schmidt is an American academic of political science and international relations. At Boston University, she is the Jean Monnet Chair of European Integration Professor of International Relations in the Pardee School of Global Studies, and Professor of Political Science. She is known for her work on political economy, policy analysis, democratic theory, and new institutionalism. She is a 2018 recipient of a Guggenheim Fellowship and has been named a Chevalier in the French Legion of Honor.
The international system is for the most part made up by small powers or small states. While a small power in the international system may never equal or surpass the effect of larger powers, they can nevertheless influence the workings of the international system together with others. The formalization of the division between small and great powers came about with the signing of the Treaty of Chaumont in 1814. Before that the assumption had been that all independent states were in theory equal regardless of actual strength and responsibilities.
Societal security is a concept developed by the Copenhagen School of security studies that focuses on the ability of a society to persist in its essential character. It was developed in 1990s in the context of the end of the Cold War and moves towards further integration in the European Union. This paradigm de-emphasizes the role of state power in guaranteeing security by confronting threats, highlighting instead questions of community identity and social dynamics.
Mediated cross-border communication is a scholarly field in communication studies and refers to any mediated form of communication in the course of which nation state or cultural borders are crossed or even get transgressed and undermined.
