July 12

SOCIAL 30-1

We did a quick review of the business cycle, the various stages of the boom and bust cycle, and the Keynesian economic response to the various stages. 
I did a homework check on your Chapter 4 Key Terms and Questions. Your Chapter 6 Key Terms and Questions are due tomorrow. We  covered the USA and the Great Depression, FDR and the New Deal (again), and we got into Sweden and the welfare state. You need to read up on the Keynesian economic policies as well (pages 48-52), it is also recommended that you read up on other examples of mixed economies in your study booklet (pages 73-76). You also wrote an analysis of a political cartoon today. 

Upcoming Important Dates:

• Chapter 6 Key Terms and Questions are due tomorrow, July 13th
• Ideological Reaction to Industrialization Test is on Wednesday, July 13th (please see the study guide below)
• Market and Mixed Economy Test is on Friday, July 15th (please see the study guide below)
• Economic Systems Exam is on Monday, July 18th (please see below)
• Chapter 5 Test is on Tuesday, July 19th (please see below)
• Chapter 7 Test (The Cold War) is on Wednesday, July 20th (study guide will be published here on the blog tomorrow)

As you can see, next week will be EXTREMELY busy! Stay on top of your work, and it'll be fine. 

IDEOLOGICAL REACTION TO INDUSTRIALIZATION TEST STUDY GUIDE:

This test is multiple choice format. This test is on Wednesday, July 13th. 

1. Please review material from these PowerPoint presentations: 

• "The Development of Classical Liberalism"
• "Responding to Classical Liberalism"

2. Be familiar with key concepts introduced in Chapters 3 and 4.
3. The Industrial Revolution:

• understand fundamental economic, social and political changes that were caused by the Industrial Revolution
• understand the connection between the Agricultural Revolution and the Enclosure Acts and the Industrial Revolution
• understand the differences, advantages and disadvantages of the cottage system and the factory system

4. Review material in the "Philosophies of Industrialism" section of your blue study booklet
5. Key beliefs of the various ideologies (review the spectrums briefly); also review this material from the "Responding to Classical Liberalism" PowerPoint presentation:

• Adam Smith
• laissez faire economics/capitalism (key ideas)
• John Stuart Mill
• Karl Marx (key ideas and beliefs associated with Marx, Das Kapital, The Communist Manifesto, withering away of the state, dictatorship of the proletariat, view of history, etc. ) and Friedrich Engels (see "Philosophies of Industrialism" booklet)
• Edmund Burke and classical conservatism

6. Some questions may require you to make connections between this year's material and what you learned in 10-1 and 20-1 as well 

MARKET ECONOMY AND MIXED ECONOMY EXAM STUDY GUIDE:

This exam will be on Friday, July 15th

• Chapters 3-4 and Chapter 6 in Perspectives on Ideology
• please see the summary notes from the Ideologies textbook: Chapter 7 (Private Enterprise)
• supply-side economics
• boom and bust cycle/business cycle
• laws of supply and demand, Adam Smith, invisible hand, market forces
  self-interest, consumer sovereignty, competition, private ownership, profit motive
• basic economic problems/questions
• advantages/disadvantages of the market economy
• causes of the Great Depression
• FDR and the New Deal
• please see summary notes from the Ideologies textbook on the Mixed Economy Case Studies #14 (Sweden) and #15 (Canada), you can find this on the Social 30-1 wiki
• nationalization
• democratic socialism
• welfare capitalism
• Keynesian economics
• the business cycle and fiscal and monetary policies (study all of the notes I gave you and the booklet that I gave you)
• demand-side economics
• neo-conservatives
• monetarism
• trickle down economics
• supply-side economics
• Thatcherism and Reaganomics
• Milton Friedman
• Friedrich Hayek
• how Keynesian economics deals with a recession
• how supply-side economics deals with a recession

ECONOMIC SYSTEMS EXAM STUDY GUIDE:

This exam will be written on Monday, July 18th. It is a multiple choice question format test. 
This is a comprehensive exam that covers all of the major economic systems: market economy, mixed economy, and command economy. It is 74 multiple choice questions. 

• Chapters 3-6 in Perspectives on Ideology
• study the applicable PowerPoint presentations that are on the wiki under Unit 2 (check your notes): The Development of Classical Liberalism, Responding to Classical Liberalism, The Evolution of Modern Liberalism, 20th Century Rejections of Liberalism (just the USSR section of this PowerPoint)
• In Chapter 5, just focus on the Soviet Union, and left-wing of economic spectrum (command economy), we haven't covered aspects of dictatorships or Nazism yet (the techniques of dictatorship and fascism will be on a Chapter 5 Test)
• please see the summary notes from the Ideologies textbook: Chapter 7 (Private Enterprise), page 78-80 in the Social 30-1 study booklet 
• supply-side economics (page 84 in study booklet)
• boom and bust cycle/business cycle (pages 50-54 and pages 56-62 in 30-1 study booklet)
• laws of supply and demand, Adam Smith, invisible hand, market forces
  self-interest, consumer sovereignty, competition, private ownership, profit motive
• basic economic problems/questions
• advantages/disadvantages of the market economy
• causes of the Great Depression (pages 63-64 in 30-1 study booklet)
• FDR and the New Deal
• please see summary notes from the Ideologies textbook on the Mixed Economy Case Studies #14 (Sweden) and #15 (Canada), #16 (Japan), #17 (Fascism and Nazism): pages 73-76 in the study booklet
• also see the Democratic Socialism booklet on Sweden (indicative planning, "cradle to the grave" economics/"womb to tomb economics"): pages 65-72 in 30-1 booklets
• characteristics of a mixed economy
• nationalization
• privatization
• democratic socialism
• welfare capitalism
• Keynesian economics
• the business cycle and fiscal and monetary policies (study all of the notes I gave you)
• demand-side economics
• neo-conservatives
• monetarism
• trickle down economics
• supply-side economics
• Thatcherism and Reaganomics
• Milton Friedman
• Friedrich Hayek
• how Keynesian economics deals with a recession (remember "the percolator": increase circulation of money reducing taxes, increase government spending on "make work" projects, and reduce interest rates, which according to Keynesian economics is going increase demand for goods and services and lead to more money circulating in the economy) pages 81-82 in the Social 30-1 study booklet 
• how supply-side economics deals with a recession (remember "trickle down coffee maker": government should stimulate the goods and services sector of the economy by reducing corporate and personal taxes, eventually benefits will "trickle down" to the middle class and working class, make connections between supply-side economics and laissez faire economics/classical liberalism): pages 81-82 in the 30-1 booklet
• advantages and disadvantages of a mixed economy
• neo-conservative criticism of government intervention
• characteristics of a centrally planned economy
• advantages and disadvantages of a centrally planned economy
• Marx notes (pages 94-96 in 30-1 booklet)
• Lenin notes (pages 97-98 in 30-1 booklet)
• establishment of the Soviet Union
• Soviet economic system (top-down decision-making process): study pages 105-114 in the Social 30-1 booklet
• Lenin's War Communism and the New Economic Policy
• "Stalin and the Modernization of Russia" (see film notes)
• Stalin notes (pages 99-101)
• "Changes to Soviet Society After Stalin" notes (this bridges the gap between Stalin and Gorbachev): pages 116-117 in 30-1 booklet
• Gorbachev to Collapse Notes: pages 118-121 in 30-1 booklet
• Economic Planning in the USSR: pages 122-129 in 30-1 booklet
• Market Socialism (pages 130-132 in the Social 30-1 booklet)

CHAPTER 5 TEST STUDY GUIDE:

The Chapter 5 Test will be on Tuesday, July 19th. It is a 70 multiple choice question test. Please review the following:

• "20th Century Rejections of Liberalism" (ppt)
• Marx notes (see 30-1 booklet)
• Lenin notes (see 30-1 booklet)
• Stalin notes (see 30-1 booklet)
• Soviet Economy notes
• Soviet Economic System notes
• Changes to Soviet Society After Stalin notes
• Gorbachev to Collapse notes
• Economic Planning in the USSR booklet
• Characteristics of Democracy
• Characteristics of Dictatorship
• Democratic Systems notes
• Non-Democratic Systems notes
• Types of Dictatorships notes (includes Techniques of Dictatorships as well)
• A Comparison of Communism and Fascism notes
• Totalitarianism notes
• Fascism/Nazism booklet (has techniques of dictatorship in Nazi Germany and USSR)
• do a brief review of the political and economic spectrums

The following key concepts/key events/key people are mentioned in this test, if you (re-)familiarize yourself with them it will help you out immensely!

• centrally planned economies
• initiative
• FDR and the New Deal
• Reaganomics
• consumer sovereignty
• invisible hand
• Keynesian economics
• laissez faire economics
• War Communism
• Five Year Plans
• mixed economies
• indicative planning
• proportional representation
• democracy
• dictatorship
• political spectrum (characteristics associated with the various ideologies)
• status quo
• egalitarianism
• conservative
• reactionary
• liberal
• radical
• SA
• Hitler
• Bolshevik
• fascism
• communism
• indoctrination
• controlled participation
• terror and force
• direction of popular discontent
• democratic socialists
• supply-side economics
• authoritarian
• tyrant
• totalitarian
• totalitarianism
• ultranationalism
• nationalization
• privatization
• propaganda
• progressive taxation
• Marx
• Lenin
• utopian socialism
• Gorbachev
• martial law
• Reichstag (Reichstag Fire, Reichstag election results)
• referendum
• collectivization
• modernization
• classical liberal
• laissez faire free market economy
• mixed economy
• planned economy
• (review your economic political quadrant model)
• Das Kapital
• Mein Kampf
• The Wealth of Nations