SOCIAL 30-1
I went through a PowerPoint lecture on "20th Century Rejection of Liberalism", or at least part of it. You'll have to go through the second half of the presentation that covers Nazi Germany. I showed you an A & E Biography called "Joseph Stalin: Red Terror", and while you watched the video, you were supposed to answer the film study questions.
I had you write some brief notes on the Characteristics of a Command Economy (page 103), We went through "The Command Economy" worksheet (pages 105-106). You need to read, highlight and annotate the following readings in your study booklet:
- The Structure of the Soviet Economy (pages 107-109)
- Soviet Economic System (pages 110-114)
- Changes to the Soviet System After Stalin (pages 116-117)
You also went through the Gorbachev to Collapse notes in class on your own. You had some class time to work on Economic Planning in the USSR questions in the booklet, and the Chapter 5 Questions, which are due tomorrow.
Upcoming Important Dates:
- Read Chapter 5; complete the Chapter 5 Questions for tomorrow (July 15th)
- Economic Planning in the USSR (homework) read and answer all questions(pages 122-129). This is due on Thursday, July 16th
- Market and Mixed Economy Test is tomorrow, Friday, July 15th (please see the study guide below)
- Economic Systems Exam is on Monday, July 18th (please see the study guide below)
- Unit 2 WRA I is on Monday, July 18th
- Chapter 5 Test is on Tuesday, July 19th (please see below)
As you can see, this week will be EXTREMELY busy! Stay on top of your work, and it'll be fine.
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
self-interest, consumer sovereignty, competition, private ownership, profit motive
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)
self-interest, consumer sovereignty, competition, private ownership, profit motive
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