Week 2 Economics and Politics Vocabulary

Vocabulary list covering economic terms, international law, and political structures as discussed in Week 2.

Customs tariffs

Taxes or duties imposed on imported goods (Gümrük Tarifeleri).

Capitulations

Agreements by which a state surrenders jurisdiction within its borders over the persons of a foreign state (Capitulasyonlar).

Instability

The state of being unstable or lacking predictability (istikrarsızlık).

Customs union

A group of countries that have agreed to abolish tariffs between them and set a common external tariff (Gomenliği).

Political unity

The condition of being united as a single political entity (Styas Birlik).

Freedom of navigation

The right of ships to travel through international waters without interference (Sisefor serbestist).

Monetary union

An agreement between two or more states to share the same currency (Para birligi).

Subsidy

A sum of money granted by the government to assist an industry or business (Subvenciyen fesvike).

Customs duty

A tax collected on goods that are imported or exported (Gümrük vergisi).

Self-determination

The process by which a country determines its own statehood and forms its own government (self determinasyon).

Capital movements

The flow of financial assets between countries for investment or trade (Sermaye Hareketleri).

Prosperity

The state of being successful, wealthy, and thriving (Refah).

Heavy industry

Large-scale industry involving big products and massive equipment (often referred to as 'Agency' in notes).

Founding member

A country or entity that was among the original creators of an organization (Kurucu tye).

Supranational

Power or influence that transcends national boundaries or governments (uluslosti).

Single market

A trade bloc where goods, services, capital, and labor move freely between member countries (de pazer).

Common agricultural policy

A system of agricultural subsidies and programs, primarily in the EU (Ortak tam pol).

Cross-border

Activities or movements occurring across the boundary between two countries (Sintes:).

Fluctuation

An irregular rising and falling in number or amount (Dalgalanma).

Exchange rate

The value of one currency for the purpose of conversion to another (kur iki pea arasındaki değer karsilastimas).

Single Act

A legislative treaty, such as the Single European Act, aimed at deeper integration (Tek senet).

Common Foreign and Security Policy

A set of agreed-upon rules for foreign relations and defense within a union (No dis ve güvenlik pol).

Federal state

A political union where power is divided between a central government and individual provinces or states (eyalet).

Unitary state

A state governed as a single entity with a supreme central government (merkeziyetçi devlet).

Capital flow

The movement of money for investment or business purposes across limits (Sermaye akis).

Enter into force

The moment an agreement or law becomes legally binding and effective (Yünülülüğe girmek).

Legitimacy

The quality of being valid, legal, and recognized as acceptable (Mesulyet).

Negotiations

Discussions aimed at reaching an agreement (Mezakere).

Financial transaction

The exchange of money, assets, or services between parties (finansal islenler).

Print vs mint

Printing refers to producing paper currency, while minting refers to producing coins (it para redeni pora basmale).

European Parliament

The legislative institution of the European Union.

Rule of law

The principle that all members of a society are equally subject to legal codes (tunistinlego).

Rogue state

A nation that violates international law and poses a threat to other nations (hayout devet).

Sovereignty

Supreme power or independent authority over a territory (egemenlik).

Commodities

Plural term for raw materials or primary agricultural products that can be traded (Emtia).