Cpo3101 Exam Final Notes
What is the single market? Establishment of Free market
Pros - single monetary value
Cons - Race to the bottom shittier stuff
How did the EU use regulatory policy - Only UCB can set interest rate
Types of economic policies Deregulator policy - beer is beer Expenditure Policy - How states spend money and EU spends its own money Macroeconomic Policy - Monetary policies go ounder Macro
Normative approach - take from rich to give to the poor, don’t want more environmental policy
Expenditure approach - They want change, Hippies v Anti-governmental people
EU good at reregulation on environment, how they package good - labels
EU Deregulation -
Why the success - If you tell them what to do it hurts statesComparative advantage, leaders will lobby against things they don’t want
BUDGET
EU Budget - Goes to council, extend on to Parliament and either approve or disapprove and parliament has final say.
How you raise revenue for budget - Agricultural levies, import tax, value added tax and GNI( suppose to be safety net incase not enough money to raise, unfair for the smaller states) Done every 7 years
EU Expenditures in relation to the EU budget -
CAP Cons- Pays farmers too much, food waste, hurts environment. Tried to reform it a lot of times 92,03,08.
WTO (world trade organization)pissed at CAP because it suppresses prices,
Cohesion Policies - Trying to build up poorer countries, Southern Italy, Eastern Europe(Poland) EU can not take away. Can go through regions and do not have to go through national government Example( Partnership Principle. Like to invest in long term programs, and in projects that are consistent and will go hand in hand
Theories of public expenditure and redistribution - most of the money they spend is on Public expenditures for almost 50% of GDP in the eu and only 36.5% in the US, always balanced
EMU
Why monetary union - Easier, balanced, having 1 currency
Con’s - Their economies are tied
Pros - single monetary value
Cons - Race to the bottom shittier stuff
How did the EU use regulatory policy - Only UCB can set interest rate
Types of economic policies Deregulator policy - beer is beer Expenditure Policy - How states spend money and EU spends its own money Macroeconomic Policy - Monetary policies go ounder Macro
Normative approach - take from rich to give to the poor, don’t want more environmental policy
Expenditure approach - They want change, Hippies v Anti-governmental people
EU good at reregulation on environment, how they package good - labels
EU Deregulation -
Why the success - If you tell them what to do it hurts statesComparative advantage, leaders will lobby against things they don’t want
BUDGET
EU Budget - Goes to council, extend on to Parliament and either approve or disapprove and parliament has final say.
How you raise revenue for budget - Agricultural levies, import tax, value added tax and GNI( suppose to be safety net incase not enough money to raise, unfair for the smaller states) Done every 7 years
EU Expenditures in relation to the EU budget -
CAP Cons- Pays farmers too much, food waste, hurts environment. Tried to reform it a lot of times 92,03,08.
WTO (world trade organization)pissed at CAP because it suppresses prices,
Cohesion Policies - Trying to build up poorer countries, Southern Italy, Eastern Europe(Poland) EU can not take away. Can go through regions and do not have to go through national government Example( Partnership Principle. Like to invest in long term programs, and in projects that are consistent and will go hand in hand
Theories of public expenditure and redistribution - most of the money they spend is on Public expenditures for almost 50% of GDP in the eu and only 36.5% in the US, always balanced
EMU
Why monetary union - Easier, balanced, having 1 currency
Con’s - Their economies are tied