theory (physics), model (physics)
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Types of quantum field thories
In the context of quantum field theory an effective action is an object obtained from a more fundamental action functional by “averaging out” the dependency on certain variables.
There are two different notions of effective action
The one-particle irreducible action (“1PI action”);
The Wilsonian effective action of effective quantum field theory.
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A discussion (with an eye towards supersymmetric quantum field theory and Seiberg duality) is in section 2.1 of
A review of effective actions in the background field formalism is in section 3.1 of