IB 30/35
We started our next unit, the Emergence of the Americas in Global Affairs today. I went through Ms. Breadner's PowerPoint presentation on the topic, and showed you part of a video from the U.S. History series "U.S. and the World". Please remember that on Thursday you have your Civil War and Reconstruction Exam (multiple choice, matching, and source analysis), the study guide is on the wiki. On Friday you are writing a Paper 3 essay on the Civil War and Reconstruction. We'll continue with the Emergence of the Americas unit next week.
Social 30-1
I tied up some loose ends with demand-side and supply-side economics today by showing you the following YouTube video which illustrates the economic battle of ideas between Hayek and Keynes:If you are interested in this topic, please have a look at the "Battle of Ideas" section from the PBS documentary "The Commanding Heights".
I gave you some notes on Russian History today, so if you missed class today you need to get these notes from a classmate. I also gave you some handouts: "Centrally Planned Economy", and a couple of booklets, one called "The Soviet Economy" and "The Structure of the Soviet Economic System". Please read those booklets, highlight them and annotate them. I also gave you the Chapter 5 Worksheet today. Your Chapter 5 Key Terms and Questions are due on Friday. Please make sure that you read this chapter! One week from today (October 22nd), you have your Market and Mixed Economy Test. Please see the study guide below.
Market Economy and Mixed Economy Exam Study Guide:
- 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)
- 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 (remember coffee percolator handout)
- how supply-side economics deals with a recession (see handout above; coffee maker)
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